Based on Reported Auction Results*

Slightly Lower Volumes And Market Stays Firm  

It’s a familiar report. Auction success rates maintain a steady as she goes course with most auctions reporting multiple bidders in attendance. Volumes for the autumn quarter were slightly lower than average which would not have helped buyers. A low to mid 70’s percentage persists signaling all is well in the property market. We have come to expect it will go on like this forever…

For competition, the sub $600,000 price bracket is where action is to be found – particularly in inner areas where offerings are limited as to types of properties available, in this price range. Villa units and small townhouses are sought-after options where possible over flats/apartments. Understandably, a small piece of land you can call your own, has much appeal. The new large apartment block style has limited appeal to many, attracting more overseas buyers of origin, than long time “locals”.

Our view of the market has not changed. Whilst not expecting anything spectacular to occur with prices, we feel the current trend of “properties finding buyers” is likely to continue as it has for some years now. Purchasers will continue to have competition from others out in the field. Interest rates, employment and general stability are the keys and in Australia these are currently ticking along with few surprises. If the current Government is returned – as is considered more than likely, the status quo looks even more so set to continue.
If you would like to discuss with us ideas for your home or an investment purchase in relation to location and price, please give us a call. We will be happy to help.

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