Melbourne Clearance Rate 70%

Discussion in 'Property Market Economics' started by melbourne171, 30th Jan, 2017.

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  1. melbourne171

    melbourne171 Well-Known Member

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    Last weekend's Melbourne Clearance Rate from Domain is 70%. See market is cooling down.
     
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  2. highlighter

    highlighter Well-Known Member

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    Uh there were 45 properties listed for auction, which makes the clearance rate largely meaningless, as the sample size is far too small. It was also a public holiday weekend.
     
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  3. Coota9

    Coota9 Well-Known Member

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    Agree with @highlighter above,lets wait till we have 1,000 plus auctions and see clearance rate than..

    Jan28th.PNG
     
  4. Perthguy

    Perthguy Well-Known Member

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    45 auctions! The market hasn't cooled, it's dead! ;)
     
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  5. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    SNR - statistically not reliable. Wait until auctions get back in full swing in February to decide.
     
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  6. Corey Batt

    Corey Batt Well-Known Member

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    Definitely not reliable - with volumes at <10% of the average and timing/cultural underlying reasons for sporadic results, I wouldn't be reading into it at all.
     
  7. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    That was the same thing they said about Sydney in the last Qtr 2015 when clearance rates dropped from the 80 & 90%'s into the 70%'s..........and we all know what happened in 2016, and "cooling" was not a word I'd use to describe it. ;)