Melbourne auctions: Agents won’t shake hands due to coronavirus fears, but crowds are undeterred

Commenting on “Melbourne auctions: Agents won’t shake hands due to coronavirus fears, but crowds are undeterred”
https://www.domain.com.au/news/melbourne-auctions-agents-wont-shake-hands-due-to-coronavirus-fears-but-buyers-are-undeterred-940293//

The negative impact caused by the Coronavirus as I predicted in January 26 is finally realised, and it is backed up by the report from Domain.

According to the REIV auction clearance rate records, at the start of February to end of February, the rate rose to 80%, but took a downward turn in March. I find that REIV clearance rate is normally 2% higher than Domain.

8 Feb - 80%
15 Feb - ?
22 Feb - 80%
29 Feb - 79%
7 March - 71%
14 March - 71%

Will the clearance rate continue to slide? I believe so at least for a few more weeks.

At present the real estate market does not centre on supply and demand, but overall consumer confidence.

If you are good in negotiation, and with your approved loan, your first home may be insight.

Thank you for reading.