We visited Melbourne two weeks ago on an Auctioneering study tour and would be forgiven for thinking we'd arrived in a different country. The market there has most definitely improved with 647 Auctions on the weekend of May 30 with a clearance rate of 82%!

Ok, Melbourne is more Auction savy, however, the huge number of buyers willing to pay well over the reserve price was mind boggling. One agent suggested when the investors start buying, the market has turned, which is certainly the case in Melbourne.

In Perth, the selection of available stock has diminished over the previous quarter which may place some pressure on buyers and the price they pay. Up until now buyers have been ruthless negotiating with sellers, I wonder if that's all about to change?