To use a sharetrading/investing analogy; will the Newtown property that sold for 790K yesterday drag others down through the key support level of 800k?
And if so where's the next level of support likely to be?
The vendors yesterday were realistic in their expectations and so shifted their property quickly. Others still holding out over 800k might find that, like the sharemarket, a long term hold can be a costly exercise if the trend has changed.
On the subject of bids at auction, Neil Jenman's website has some interesting info under "A Strange Auction".
