23RD SEPTEMBER – CLEARANCE RATES (PCR) – 57%
With 455 sold, 346 passed in and 50 either withdrawn or postponed. Of those reported, 550 houses (54% sold) , 241 apartments (63% sold) and 9 being registered as land sales.
Looking deeper into the numbers over the weekend there were 1,189 Auctions Scheduled with 801 or 67% reported. Without counting any unreported results as sold, that would show a clearance rate of 38%. This is around 10% lower than what I have seen over the previous months which seems to be around the 42%-55% range.
In Williamstown our RT Edgar Network had a fantastic result with the property at 17 Coutris Street going $350,000 above it’s reserve. A crowd of about 150 watched the Auction with a $1.9 million opening bid. Rapid bidding took it past the $2.2 million reserve. 46 bids took it to $2,550,000 where it sold.
It is clear that over the past week the media has been having a field day with their 40% dire warning, which several (8-10) people have asked me about it, so it is clearly weighing on the mind of the market. Will there will be a pullback, possibly, probably with all the goings on at the moment. Many areas are seeing it at the moment and have been seeing it since the start of 2018.