The sales/auction results have to be dissected to get a sense of what is happening
A house in Frankston auctioned on Saturday is an example. A few agents had had it for sale for a longish period inviting offers over $400k and it was finally put to auction.
Sold on Saturday for $337k
So it goes in as a sale result but the figure received was about 18% lower than expected. It was also the only house auctioned in that and the surrounding suburbs so the volume is way down also.
The public are now loosing confidence and more people are being put out of work so the prices will continue to fall.
I am sorry for those who are going to loose money because of the get rich schemes that were so widely promoted by all including the government but to be safe they should have had the money in a fixed term investment
