Saturday, December 4, 2010

Buyer Confidence Low

Extracts from a story in today's Courier Mail:

HOMEBUYER confidence has taken a dive in southeast Queensland with predictions of more pain to come.

While auction clearance rates have been on the way down for months, auctioneers are now reporting a drop in those even registering to bid.

Auctioneer Jason Andrew said only half the auctions he held last week attracted bidder registrations – significantly down on the highs of 80 per cent over the previous two weeks.

"Sixty one per cent of the properties we auctioned did not attract a genuine bid," he said.

" One property in particular sold for almost $300,000 under the vendor's original reserve."

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