There were 658 auctions reported to the REIV this weekend, with 492 selling and 166 being passed in, 92 of those on a vendor bid.

A clearance rate of 82 per cent was recorded this weekend compared to 74 per cent last weekend and 57 per cent this weekend last year.

Regarding the communication of this decision, members agreed that the Bank should neither close off the possibility of reducing rates further, nor signal an imminent intention to reduce rates further.

A clearance rate of 75 per cent was recorded this weekend,

compared to 74 per cent last weekend and 55 per cent this weekend last year.

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548 auctions reported to the REIV this weekend, with 414 selling and 134 being passed in, 71 of those on a vendor bid.

interest rates down to the lowest on record

The Reserve Bank dropped rates today

clearance rate today of 74 per cent compared to 69 per cent last weekend and 60 per cent this weekend last year.

With unemployment figures heading up to a four year high and with labour market looking like an even higher unemployment this is just one reason the Reserve Bank needs to cut interest rates further.

Thirty per cent more homes have sold at auction compared to this time last year due to there being more auctions but also a clearance rate that is 10 points higher.

We can definitely expect a further interest rate cut in August or September

There were 426 auctions reported to the REIV this weekend, with 299 selling and 127 being passed in, 65 of those on a vendor bid.

For contracts entered into on or after 1 July 2013 to build or purchase a new home, a payment of up to $10,000 is available for eligible first home buyers.

The Board also judged that the inflation outlook, although slightly higher because of the exchange rate depreciation, could still provide some scope for further easing, should that be required to support demand.

A clearance rate of 76 per cent was recorded today compared to 68 per cent last weekend and 55 per cent this weekend last year.

Yesterday's announcement that Australia's jobless rate hit its highest level since September 2009 has brought further rate cuts to the table again.

Saturday 6th & Sunday 7th July 2013

A clearance rate of 71 per cent was recorded today compared to 70 per cent last weekend and 58 per cent this weekend last year.

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