Welcome to the September edition of “The Hammer Report”.

September is an interesting month in the world of Auctions as it forms the transitional period from the winter to spring market, which for the astute seller is always a savvy move to Auction their home as buyer demand increases allowing the core economic factor of supply and demand to come into play.

Whilst the number of properties on o er for the month was not high we saw an increased success rate under the hammer rise to 54% for September on the back of a quarterly average (July – September) of 38% a direct re ection of buyers becoming more active. The clearance rate of Auctions within a 35 day period

has moved slightly to 67% (September) due to a few sellers, after given the opportunity to sell decided to remove their properties from the market, this statistic may re ect a decline however it’s important to note the clearance rate still performs way above the market average of 64 days on market*

Volume of Auctions for October and beyond are very strong which will give sellers a distinct advantage as the auction process will ensure their property will be rst choice over the 14,000 properties currently on the market* (includes house, land and units)