property update from my area

  1. 8,034 Posts.
    I went to an auction today for a property high on a hill overlooking Port Philip Bay.
    The adds say $800,000 + So I go along and see around 70 people at this auction.....It took 10 minutes to get a starting bid at $650,000 and after half an hour including several vendor bids it got to $740,000

    I realised as I went home and passed 10% of homes with "for lease" signs on them that have been that way for around six months...

    My mate Stavros at MPRE has taken s weeks holiday as he says the market is we must be at the top waiting to come down the other side.
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