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Sunday, 27 May 2018

Auctions volumes smoked

Stamped out

Median prices have been holding up reasonably well, although Melbourne house prices finally look to have cracked a little. 

But auction sales recorded are waaay down.

Source: Domain

On the same weekend last year $1.7 billion sold under the hammer.

This year the equivalent figure was a paltry $653 million.

That's a heck of a lot of stamp duty not being collected in the tighter lending environment. 

Just one of the reasons I don't believe there will be much appetite for it to last too long.

Lower bank profits and corporation tax receipts will be another. 

Who'd be a regulator?