With over 1000 auctions last weekend, the clearance rates of the three main data collection companies have all come in at or just below 80%. The REIV, usually the highest data collection rate over the weekend came in with 939 auction results for a clearance rate of 78%. Please note, this means that all properties […]
Whilst we didn’t quite get there according to the REIV Clearance rates, 79% is a very close thing. The last 80% clearance rate announced after the weekend results was in April 2010. With clearance rates on the rise, stock levels lower than last year and a very good chance of further interest rate cuts in […]
With only one smaller weekend to go for auctions for 2014 we look back on what must be said to be a very productive year for property investors. Those buying their own homes and those buying to become landlords. With clearance rates averaging around low 70% we know when all the stats come in we […]
Last weekend the clearance rate hit 65% according to one of the industry data analysts, the REIV. Of the 1405 auctions that the REIV had known about, the results of 1181 had been analysed over the weekend. This is a significant drop from the average figure for the year to date of 71% is, however, […]
Having seen record numbers of auctions this year with strong clearance rates throughout, we are beginning to see a slowdown. Is this the signs of the bubble bursting – OF COURSE NOT, although some professors from out of state may think their 10 year predications are finally about to come to fruition. We saw Channel […]
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 […]
In the past 5 days we have purchased 5 properties. they have been geographically and financially all over the place. We have purchased under the hammer at auction, bought at an in-rooms auction, private sale negotiation, a negotiation prior to an auction and and late on Saturday secured a property after a passed in auction. […]
Auctions are simply a way of life in the Melbourne property market. Even though, in overall Metropolitan Melbourne, there are only about 30% of properties that go to auction, in the inner suburbs around the 20km ring of the CBD, this could be closer to 60%. If you are intending to purchase in these areas, […]
