Craig

Welcome to the Real Estate Podcast.

Good to have you on.

Great to be here, Craig.

Thanks very much for having me.

Yeah.

So in order to have strong competition at auctions, you need to have active bidders.

And with that figure that I just mentioned of 3.5 bidders, that helps everything move along.

So you're starting to see that that is dropping perhaps for our audience.

Just give us a sense of what's been trending lately that you've seen around these active bidder numbers.

Yeah, and talking of the boom, of course, you've kind of got to keep this in perspective, right?

Because as you say, I mean, we have gone through one of the biggest booms ever recorded.

And yes, we've got the slide starting to happen with active bidders, but it should really be put into the context of what's been happening over the last two years.

So lately, there have been more houses, obviously, that have been listed for sale, which is giving buyers a much greater choice.

And we're starting to see, if not already gone, the whole FOMO aspect.

And of course, people, I guess they're in that sort of mindset now where they're going, I was thinking maybe in six months time, but now I want to list my property because I'm starting to hear that there are less buyers around.

And over the last, I don't know, four to six weeks, what's been happening around some of these bidders becoming hesitant?

I guess right now, if there's going to be some hesitant actions with people not raising their hands at an auction, it's probably likely to start to happen from this point on.

You know, what stands out for me with this interview with you, Damien, is the fact that, and I wasn't sure which way it would go, whether or not you as an auctioneer would come from a point where you're panicked.

And you're explaining this very succinctly, very calmly.

You're making the relevant points that need to be made.