I just wanted to take the opportunity to update everyone on mainland supply and the new auction system.
Those that have taken a look at the new auction site will have noticed that there hasn’t been much land up for sale since it was launched late last month; there are two reasons for the modest level of supply.
Firstly, we have had a few minor glitches that needed to be resolved – we think most of the issues have been fixed now but have been taking it slowly whilst working to get auctions working smoothly. Secondly, average mainland price has dipped to around L$6.2 per meter and is remaining fairly flat at that rate, therefore we have not been supplying many whole regions for auction.
Going forward, we will continue to hold off on providing any new full regions for auction, at least for the next couple of weeks – however we will be increasing the amount of abandoned land we recycle, so expect to see a larger number of smaller parcels (both USD$ and L$ auctions) which has the added benefit of cleaning up the existing mainland areas.