The “clearance rate” was 54% across the weekend. The media would have us believe there was no movement and that things are going from bad to worse. What they neglected to explain was the increase in total sales of 21.63%. These figures are the same ones supplied to the media by the REIV. Auctions are […]
The “clearance rate” continues its course towards 50% and there were only 840 total sales last weekend. The government is talking more gloom and doom than the media and the “R” word is being talked about more openly than the previous whispers in the corridors of our politicians. Interest rates around the world are dropping […]
We are back to the shrinking “clearance rate” again. The clearance rate dropped to 53% but the total sales for the week climbed 18%. Whilst most buyer agents and selling agents will tell you the market is “hitting the wall” or that the market is in free fall, this is a total fallacy. Investors are […]
This opinion of the market has taken me nearly four hours to write this morning. I have had about 6 phone calls from clients, past clients, reporters and friends asking me “what is happening in the market?” The current market is being driven by two opposing forces. One, similar to the stock market, is falling […]
There has been a drop of about 6% in the total sales within the metropolitan area last week. Unfortunately, the “clearance rate” bears no resemblance to what is going on in the market, except by coincidence. Between all our advocates we visited nearly 15 auctions over the weekend, only one of which sold under the […]
With the football season over, the snapper season just beginning and the weather starting to turn on the warmer days, property sales in Melbourne should begin to heat up. The clearance rate of 68% doesn’t really mean too much whilst the auction numbers still make up less than half of the total sales. We need […]
Monday September 29th With the crowning of the new premiers of the AFL for this year, we congratulate the Hawthorn Football Club. We also begin the spring real estate season in earnest. The next three weeks will indicate what the stock levels will be like for the rest of the year. I don’t think anyone […]
Again the market moved up sharply this week and moved back over the 1000 sales mark. This is the fourth time since March this has occurred. And again the drop in clearance rates is virtually meaningless. Next weekend is virtually a non event for auctions due to the AFL Grand Final; it will be interesting […]
The clearance rate jumped to 68% whilst total sales dropped by just under 2%. There were 959 total sales last week reported to the REIV. 366 properties sold via an auction campaign, either before, during or after an auction was advertised, whilst 539 properties were sold by private treaty. As we move into the busier […]
Whilst the market clearance rate went up 4% (Yahoo!!) the overall sales figures dropped 4%. There were a total of 977 sales reported to the REIV last week with the preceding week showing 1023. I noticed in the Age this morning even the agents are now saying the true rate for sales under the hammer […]
