Sydney Auction Clearance Rates - Prelim. Final ~56%

3 weeks in a row of less than 60% auction clearance rates. This doesn't bode well for their property market. Market jitters seem to be confined to Sydney though.

Around the Country:
Melbourne 73% (Final ~ 67%)
Brisbane 32% (Note, low base of only 143 auctions)
Adelaide 73% (Again, only 81 auctions)

 

Where did you get the data set?

 

Melb V Sydney - Courtesy Dr Shane Oliver, AMP (Follow him on Twitter, excellent stat breakdowns and interesting data highlights)

 

anyway, it's now reliable - number of reported to number of listed ratio goes down every month

 

Adelaide Real Estate Auction Results

 

I've noticed that too.

Agents are reporting less, as CoreLogic / Pricefinder / etc. ring them after the auction. They feel they shouldn't need to give the information away freely, when they pay to "buy the data back" from those providers.

 

Extremly different results to Realestate.com.au and domain.

 

Domain get their data from Price-Finder (both owned by Fairfax)
REA get their data from CoreLogic (In partnership - Probably because CL are the only viable alternative to a Fairfax business)

Two different data sources - Two different sets of results. (Though these aren't the only two going around, post auction an agent might receive a dozen calls asking for the results. They're not inclined to return all those calls....)

 

Realestate.com.au results are different ro domain.
Re result is NSW

Domain is Sydney region

So it makes sense.

Domain is reporting Sydney at 65% which is consistent over the past months.

 

But Domain's own updated results, a few days later, are now well into the 50s...

 

So are you guys thinking of buying in Sydney?

 

Does that mean some deals didn't end up going through?

 

LOL... hahaha that's a good one.

ROFL.... please stop it Larry

 

No, it means that once the results are known of all the auctions that the REA would rather not talk about, clearance rates are much worse.

 

Yep Sydney's clearance rates have led prices down consistently for last 6-12 months now. Doesn't bode well with peak apartment supply coming on line in mid 2018 and interest rate rise expected by markets...

 

Has to be one of the most fudged statistics but IT IS an important leading indicator because apparently it is consistently fudged!

RE agents only know one direction to dress up the data, regardless of time in cycle!

 

Only one direction, true, but many different ways! And that's not just failing to report after auction, but actively misreporting. In my own direct experience of the last six months, I have seen "sold prior" reported as "sold at auction", "withdrawn and subsequently sold by private treaty" as "sold at auction",
and variations on these themes. The reported preliminary clearance rates have credibility only to the extent of broadly indicating where things are at, and should only be reported in the media as "around 50%/60%/70%" because anything beyond that is just fluff.

 

Re Vic 68% Nsw 63% considering the volume rhats a fare result

Can op please post link to original origin of data set

 

I know alot of investors purchasing Sydney and Melbourne.

If you are buying good properties with startegic growth prospects upcoming infrastructure you will most likely do well.

Their is alot of agenda on this forum.

People buy and area than push it.

.

Their are deals to be done in every marker.

 

Agents don't report this data though, the reporting and stats are done by a third-party so you can't really blame agents for this one sorry