Market Wrap – A Challenging Week for Many
It was always going to be fascinating Saturday after the share market melt down over the past week.
Confidence is just such an important aspect and many other financial areas will also flow onto property markets.
The weekend had 414 auctions taking place. A clearance rate of 57% was experienced with a high number of unreported results, 95.
Many nervous owners were eager to wrap up buyer interest if they had some, so this would have helped aid the clearance rate somewhat.
Especially feeling the pinch was the top end of Melbourne. Many would have seen their investment portfolios on share markets lose almost 20% of their value since April. A rather big hit indeed.
Financial markets could rally towards the tail end of this week and conditions could deb very different over the next few weekends. However what a marvellous opportunity over the weekend if you were buying considering the last few years.
No Market Wrap video this week. Next video on the 13th August.