PENINSULA AUCTIONS MAY 5TH & 6TH

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PENINSULA AUCTIONS MAY 5TH & 6TH

The reserve bank has kept the official cash rate on hold; not a budge since August 2016.  Although lending rules have tightened; money is still cheap and buying now whilst the market is cooling off make sense. 

This weekend the peninsula auction market sits at 25 opportunities; down from last weekend and less than what’s coming up next weekend.  All but a few properties are under the $1,000,000 threshold and most of the activity is in Frankston; hosting 6 over Saturday and Sunday.

First home buyers, downsizer and investors will be buoyed by the weekends offerings.  The figures are on par with this time last year, activity is strong and last weekends results healthy with one home in Mount Eliza selling well above reserve at $3,590,000 before a big crowd and 5 genuine parties bidding for the keys.

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