Clearance rates this week differ in the two newspapers; maybe not all properties being passed in or sold are getting reported!!
The Age with 477 Auctions, Clearance rate 65%
The Herald Sun with 477 Auctions, Clearance rate 62%
Either way, no big shock. School Holidays, Petrol Prices, Tax Time could all be weighing in on these figures.
This time last year there were 614 Auctions with a clearance rate of 85%. More buyers, more choice.
The Range Stats below show the Higher end is struggling with clearance rates at 45% in the $1m – $2m bracket; whereas the $300,000 – $400,000 is still moving along at 70%, making good negotiating the key to a good buy. More reason to get an expert on your side.
| Results according to price range |
|||||
| Price Range | Total Offered |
Passed In |
Sold | Clearance Rate |
Private Sales |
| $1 to $200,000 | 5 | 2 | 3 | 60% | 80 |
| $200,001 to $300,000 | 57 | 18 | 39 | 68% | 144 |
| $300,001 to $400,000 | 86 | 25 | 61 | 70% | 165 |
| $400,001 to $500,000 | 70 | 23 | 47 | 67% | 73 |
| $500,001 to $700,000 | 100 | 39 | 61 | 61% | 92 |
| $700,001 to $1,000,000 | 70 | 30 | 40 | 57% | 28 |
| $1,000,001 to $2,000,000 | 35 | 19 | 16 | 45% | 13 |
| $2,000,000+ | 2 | 2 | 0 | 0% | 1 |
| Undisclosed | 53 | 11 | 42 | 79% | 2 |
| Source: REIV. | |||||
Lets see what the next week brings for the start of the new financial year.
Sam James