Property avoids wild ride

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AUCTION RATES STAY STEADY DESPITE THE SHAREMARKET TURBULENCE.

While the stockmarket rides the roller-coaster, the property market is remaining relatively stable, although it is far from robust. Yesterday, the clearance rate was once again in the mid-50 per cent range, where it has been for the past 15 weeks.

According to the Real Estate Institute of Victoria, the clearance was 56 per cent for the 408 auctions held, with another 60 yet to be reported.

The volatility in the sharemarket has so far had little visible effect on the property market but remains the focus of discussion at the coalface.

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