Abundance of auctions

Discussion in 'Property Market Economics' started by jinx77, 1st Aug, 2019.

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  1. jinx77

    jinx77 Well-Known Member

    Joined:
    8th May, 2019
    Posts:
    67
    Location:
    Thornbury
    What does it mean when there’s a sudden abundance of auctions in the same suburb for similar properties (inner north Melbourne for entry level apartments/units) when that suburb has been quiet for months?

    There are four units within a 3km radius of each other that are scheduled to be auctioned on the same day. What does this local market trend mean for first time buyers? How does increased competition affect vendors’ expectations?

    Could this be a sign of oversupply or is it instead a sign of renewed optimism and a recovering market?
     
  2. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    13,436
    Location:
    Melbourne
    Renewed optimism.
    Oversupply when they are all passed in.

    The Y-man
     
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