Well in Sandringham Victoria, bayside, a house with no bidders at auction on the weekend. Owner wanted $1,2+ auction started $1,050m
After auction when RE went looking, 2 offers one at $920 and one at $970. Shame the owners have already bought another house. ooops
They bought in a cheaper area looking to use the difference for cash. Dunno how much they paid for new place. But that cash incentive seems to be evaporating.
The house next door was taken off the market last week due to lack of interest.
These houses were going for about $500 10/12 years ago.
Is the lack of money from the banks an explanation???
