There is no doubt that winter has hit Melbourne with a vengeance over the last few weeks and although temperatures at this morning’s auctions were crisp, the chilliness was definitely not reflected at the auctions across all of our markets.

What is clearly evident at the moment is the impact school holidays are having on our market base which is noticeably greater than in previous years. Traditionally we see the market (sellers) go into hibernation over the Christmas period, but this year it appears the mid-year school holidays, in late June and July, will resemble the Christmas break with the numbers of auctions forecast to be below that of 2016.

Whilst there may appear to be little activity on the surface, there is a lot going on behind the scenes with a number of private sales taking place as the numerous under-bidders from this year’s auctions endeavour to find their dream home.