The real estate market is pretty bad at the moment, still suffering from last November's interest rate rise. The last thing vendors or buyers need is another interest rate rise this month!
When properties can't be sold, owners eventually withdraw them from the market, so tracking withdrawals gives a clue to the buyer demand. So far this year, two out of three Beecroft estate agents had more properties withdrawn from sale than they sold. It is instructive to examine the ratio of sold to withdrawn.
Beecroft Real Estate 6 sold, 10 withdrawn - Ratio 0.6
Raine & Horne 15 sold, 17 withdrawn - Ratio 0.9
Ray White Beecroft 11 sold, 7 withdrawn - Ratio 1.5
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