Thursday, September 28, 2006

Spring has Sprung!

Our auctioneering team made up of Mike Rogers, Peter Fried, Phil Harris, Tim Thredgold and Anthony Toop were put to the test last weekend to auction a record of eighteen properties, achieving a clearance rate of 77.8%, well above recent industry averages.
This was our biggest weekend of auctions for the year with $7,939,000 worth of property sold, We see it as an indication of the strength of the property market in Adelaide. It was a great weekend for our vendors and our auctioneers. Spring has certainly got out of the starting blocks well. Its an exciting time of the year and this was certainly a true reflection from our results last weekend.
This weeks AFL football finals generally marks the starters gun for release of Spring stock. The big issue for Adelaide’s market relates to the availability of having sales and rental stocks. If we do not see a significant influx of houses for sale and rental within the first two weeks of October, prices are likely to begin another growth cycle. The market is currently being starved of properties and yet demand remains strong.
This has capped off an amazing week for us, and it doesn’t stop here, we are now looking forward to the 13th October to see how we go with the REISA Awards.
So for all of us here at Toop&Toop - Happy house hunting!

Anthony Toop, Managing Director.

© Toop Real Estate Group

No comments: