Strong bidding energy today. There is less stock on the market, but there are no signs that prices are softening.
My Clearance Rate: 10/14 SOLD
Speaker 1:
Well, guys and girls, ladies and gentlemen, it's dark. It's dark because it is dark. It's now what time is it? 6.35, and I'm sitting outside the last auction. I did 14 auctions today. It was a massive day. Thankfully, a couple of them didn't go ahead because they were sold prior, which gave me a bit of space throughout, and one didn't have a buyer. It got cancelled. So the results are 10 out of 14. However, there are two properties One's a block of units and one is a house that most likely are going to sell tonight under auction conditions, which will make it 12 out of 14. However, 10 out of 14 as we are right now, because they haven't had an offer and acceptance and a signed contract.
Speaker 1:
I want to let you know that the bidding on some of the properties was pretty strong today, particularly one in Russell Lear, and it ended up sorry. The owners were going to take 3.3, ended up selling for around 3.6, and that's a good result. But I've got to also say to you I've got to also say to you that today I hate it when I see siblings argue, and there was one of those. I had an auction some time ago where it was three brothers and a sister and it ended up being a screaming match. It was a deceased estate. They were all arguing over $100,000. One of them said take the offer. It was $100,000 short. One of them said take the offer. The other one said, no, I want my money. Then the other ones wanted to leave to go watch his kids play soccer. And it all started. One of them said you haven't even visited our parents for 20 years and you've come here to get money, your grub. And it was just so terrible the buyers could actually hear it. In the end, the only person that actually had some sort of respect was the sister, and she was crying. She actually turned around. She said my parents would be turning in their grave to hear what actually happened today. Anyway, I've also got to say to you that to me there are no signs at all at the moment that we're going to see any softening on these prices. Right, I thought last week that, look, there was a mini boom that happened about two months ago. Right, that's over. The craziness is gone, but prices are still good and the reason why we are now moving into that period of the year where there's less stock again. Right, so everyone pushed their properties in before Easter and Anzac Day and school holidays, and now we've got less stock on the market, which essentially means that even though the rates aren't going down, there's still enough buyers there that are competing on the reduced amount of stock.
Speaker 1:
Now during the week, dutton turned around and said that if he went into government their liberal policy is that they would do a reduced migration, I think by 25%. He said that for two years they would stop foreign investors from buying established homes, brand new property, and they did that deliberately to encourage building and development, but they didn't want overseas foreign investors to be, you know, buying properties that locals could buy. So I'm not quite sure what Dutton is talking about. He, you know, he probably I mean I'm wrong. I doubt if I'm wrong because I actually know what the policy is or he's got to read up on his policy before he actually comes out and make those comments. And then you've don't get me wrong, I'm not having a go at Liberal, I'll have a go at both of them. I'll have a go at Labour. What about Labour? What about that guy there?
Speaker 1:
Chambers, the Treasurer. We aim to do 1.2 million new homes in five years. Well, mate, what do you expect the politician to say we aim, so if it doesn't happen? Oh, that's what we were aiming for. Smart, oh, yeah, aim. What about five years, mate? You probably won't even have the job in five years, so it'll all be forgotten, right? That's how it all works in politics, doesn't it? You know that's our target. Why don't we measure people on actuals, not on targets?
Speaker 1:
Anyway, team, that's what happened today 10 out of 14, maybe 12 out of 14. Liberals saying they're going to reduce people coming into the country and they're going to stop foreign people buying, which we know I don't think they can buy established homes anyway. And then you've got the Labor government who's turning around and saying that they're going to build 1.2 million homes in five years. Mate, you're way behind the run rate anyway. Way behind the run rate. How are you going to achieve that? And I have to tell you, people have lost faith in listening to people. You promise things. They don't happen. We've had lies about lots of things over the last few years interest rates, you know that whole vaccine thing, right? Anyway, team, I'm going to move on and just say to you that keep your eyes out on the market, because at the moment, it can go anywhere any week.
