With the auction season up and running now we saw a good weekend of results filter through.

A clearance rate of 79% was achieved on the weekend, 675 auctions were conducted from an original 1100 that were scheduled.

This is a great result as it is on the verge of what we would normally have called a boom market.

Although with the low stock level and large amount of properties being sold or not sold via private sale campaigns we need to take this great clearance rate with a little bit of caution.

Why the difference between scheduled and conducted? Well some get sold before auction, some get cancelled for personal reasons and some just get pulled because of a lack of interest.

In saying the above some of the prices achieved showed that people have decided that they can’t wait any longer to find their dream home or investment property.

As we start to see some more property become available will this quell the demand.