Results from this weekends auctions show that demand continues to be very strong with a clearance rate of 85% per cent recorded from 395 reported auctions.
This is the strongest result on this weekend in the past 5 years and highlights the overall lack of supply. Stock levels will increase over the coming weeks - to around 1000 in a fortnight - however there is a underlying issue with the number of homes on offer for sale.
Low stock levels have two impacts, high clearance rates and higher prices as multiple parties compete at auctions.
If interested in learning more about this update please contact me today!
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