Every weekend prospective buyers are walking away from auctions shaking their heads, and sometimes their fists at Real Estate Agents. The same story is heard over and over again. The agent said the “buyer interest” was around $450,000 or “we are telling people who have interest around $500,000 that they should look at this property”. […]
Auction clearance rates are now offered to us by REIV, APM and RP Data. They are all different as they have a different collection method. They are from different sample sizes, different properties and will just about always be different results. However, the exact number is not what is important. It is the movement, or […]
The autumn selling season is up and running, or should I say racing. The REIV clearance rate for the first Super Saturday of the season has come in at an amazing 75% from 1100+ auctions. Looking back over the records, I cannot see this clearance rate on this many auctions since March 2010 and before […]
The Block has finished for another year and we will again be inundated with requests to purchase homes that can be purchased, renovated and flipped for hundreds of thousands of dollars of profit. And can this all be done in 8 weeks? NO! The block cost the production company $6.71M and with stamp duty and […]
No surprises were seen coming out of the weekends 1100 auctions. Except 1! Whilst the market returned a resounding 68% clearance rate, it was the more affluent suburbs that faltered. Yes, there were some big ticket sales but the clearance rates of the normal auctions within these suburbs was well below the norm. In Brighton, […]
With only 5 auction weekends to go this year the necessity for good negotiation becomes paramount. With another 69% clearance rate from 733 auctions that were listed by the REIV and over 3000 auctions listed for the next 3 weekends, vendors and purchasers will be frantic to do deals. If clearance rates continue around 60% […]
After this weekend’s “Super Saturday” the REIV have reported on 1053 auctions. 690 sold before, during or immediately after auction. This gives us a very healthy 66% clearance rate. The last time there were over 1000 auctions reported was the same weekend in October in 2010. From 1031 auctions there was a clearance rate of […]
Clearance rates are falling, climbing remaining good. Median price is lifting, falling and just remaining steady! The Europe crisis has deepened, is behind us and has nearly found a resolution. Our property market is in good shape, about to drop 40% or will be moving up shortly. Whichever papers you read, whoever you listen to, […]
According to the REIV the clearance rate this weekend is 52% compared to 50% (adjusted) last weekend and 59 per cent for this weekend last year. There have been 498 auctions reported of which 258 sold and 240 passed in, 151 of those on a vendors bid. It does seem not everyone lost money at […]
What a fantastic series for Channel Nine and the production company Watercress Productions. If you read the “Results” and assume that channel Nine have done badly because all the properties did not sell, then think again. It is common knowledge that Channel Nine paid about $3.6M for the site. This was not overpaying as the […]
