Most ppl agree that the Auction clearance rate is one of, if not, the best leading indicator for property prices. However we all know the issues with the statistic. Namely that it relies on the self-reporting from Real Estate Agents. It;s not like they have an interest in fudging the stats right? Considering how much Auctions are used in hot markets, and drop away when mkt cools, like in Sydney now. Perhaps "Nature of Sale", like Auction stats vs Property Sales would be a more meaningful indicator as this actually tracks what the REA's are doing, rather than what they are saying . . . Anyone seen this data / or have a view about the clearance rate? Is it as dodgy as it seems?