I went to an auction in adelaide on the weekend, in the blue chip suburb of glenelg north. The reserve price was $550k, 12 months ago the property sold for 700k.
They couldnt even get a bid for 470k, 35% less than last years price. Glenelg north for all those who dont know adelaide is 2.5km from the beach. Last night was a good example of how we follow the us markets, today everything is down 3 to 5%. I believe in the next 2 yrs comodities will fall back to 2005, 2006 prices. This will scare away a lot of day traders as the spec stocks will become dead due to the higher grades or quantity needed to produce at those prices.
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$60.00 |
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No. | Vol. | Price($) |
---|---|---|
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2 | 437 | 59.760 |
1 | 1280 | 59.750 |
1 | 6841 | 59.730 |
1 | 1515 | 59.690 |
Price($) | Vol. | No. |
---|---|---|
60.010 | 288 | 1 |
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