I wonder what the actual figures on clearance rates are? Auctions are getting cancelled as no one is turning up and this isn't being reflected in the results.
I've been chaseing the market down for 6 months and go to auction in 2weeks, my agent is re-valueing all his properties and I've had to market the property 30% below the original valuation (based on past sales in the area) in the hope of having anyone show up. At this stage the auction could still get cancelled.
I got in in 98 so I have plenty of room to move, but if I'd picked this place up 12months ago and had to get rid of it now I'd be very very worried.
