Auction clearances tumble as demand softens

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DESPITE lower stock levels this weekend, the clearance rate dropped to its lowest point since early February, with the market seeing both buyer demand and prices soften.

From the 480 reported auctions on the weekend, the clearance was 57 per cent.

A week before Easter, there were almost 900 auctions and 62 per cent of them were sold.

Reports of median house prices falling 6 per cent in theMarch quarter, combined with buyer caution, paints a picture of a market quite different from 2010.

Click here for the rest of the article (Source: Pressdisplay Website)

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