Thanks menta, sounds like comparatively hard facts there.
What's the knock-on effect? 80% of auctions are m-i-p's so, ignoring the clearance rate for the moment, that means that there are a lot of investors (I bet most of them are investor properties) who will have a shortfall to make up. Putting additional pressure on their day to day finances, which must be already stretched or they wouldn't have gone down the m-i-p route.
What does the 30% clearance rate mean on an m-i-p sale? Does that mean that it didn't reach the amount of debt outstanding on it?
