Please read part one of the article “What’s in the Clearance Rate?” here. Another scenario which needs to be understood is the various decisions made during the auction. When there is not much ‘heated’ competition, the vendor ‘may’ decide – (and relay such instructions to the agent) – to alter their reserve price thereby encouraging [...]
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What’s in the Clearance rate?
A lot of emphasis is put on clearance rates each week – particularly in Melbourne and Sydney (the two main capitals of Auction sales) however few people really understand what the clearance rate represents. The broad assumption is that ‘sold at auction’ equates to sold ‘under the hammer’ and a high clearance rate means the [...]
A buyer’s market – but is life really any easier for home buyers?
You can analyse as much statistical data as you like, and in many cases twist it to argue any point you want to make, but ask the average home buyer if they’re finding it any easier to purchase property, and I doubt the answer would be an out and out yes. Bear in mind a [...]
