Hello and welcome to our June market update.

The market has shifted at least for now from a boom environment to a more balanced market. And buyers are adapting quickly.

The auction clearance rates have been running at just under 70% over the last few weeks, confirming times are changing in the market place.

There would be a number of contributing factors to this, one being the time of year, where there is typically less activity. However, this time last year the clearance rates were at the 74% mark, indicating there is a bit more to the slowing down of a very long boom market.

This of course, is good news for buyers as the numbers through the open homes are well short of what we saw at the start of the year meaning less competition.

But a word of caution to buyers and that is to act promptly if you like a home as the market could take off again in spring.

Good prices are still being achieved across the board but some vendors might need to revise their expectations.

On another note, congratulations to the Orange Grove Public School P&C for raising $14,000 at their last trivia night. I am sure the funds will be put to good use by the school.

We look forward to seeing you out and about.

That’s it from me, by for now.

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