al dente

Only 1/2 of the stock seems to be selling. Does someone much more knowledgeable than moi know if this is normal for December - the media 'seem to not have noticed'.

Sherlock Holmes

All I know is that locally here, November is very busy for house sales, moving etc. Probably to get it all over for xmas, so yes, December may well be quieter than the rest of the year. Regretably, it probably doesn't mean that house prices will be on the way down any time soon. IMHO.

ABCDiamond

• December 6, 2010 - Sydney's residential auction activity is showing signs of the traditional end-of-year market fatigue.

Last December (2009) was 69% and was quoted as being the highest December on record.

freebo

Its because the market has finally woken up to the fact that Sydney (and probably Melbourne, Perth and Brisbane) prices are stupidly execesive and about to crash

Sorry, couldn't help myself - for the record I don't think this is the case just yet, but I do think its coming...

ABCDiamond

During 2009, the average auction clearance rate across Australia’s capital cities was 69.2 per cent, and only 18% of sales were via the auction process.

80% of all 2009 Auction sales were from Sydney and Melbourne.

Steve2009

I think it's quite possibly down to the end of the year. I noticed this evening a local property has been withdrawn from sale a couple of weeks in. I reckon they'll probably have another go after christmas and new year. Strangely another property two doors down has just gone up for sale with a different agent. I think it's a silly move three weeks before christmas.

al dente

I have noticed that quite a few properties in the Easter Suburbs fail at auction then come back on at a fixed price.

I'm hoping it's all grinding to a halt..

killerhales

Will be selling in Jan/Feb 2012 so hoping the market just hangs on a bit longer!!

Sydney auctions really slow down a lot now until mid-late Jan, loads of people away and those here focussed on the holidays.

I do think there will be a "correction" but not too drastic (fingers and toes crossed!) like -5 or -10%. I could live with that.

On the other hand, I was reading about the Chinese "property bubble" the other day and if what was being mooted in that article comes to pass then we are all in trouble!

Since the GFC I think most of us have become a lot more sensitive to risk and certainly in my case I am thinking a lot more conservatively than previously, for example "investing in" UK Premium Bonds.

NedKelly

50%, that's fantastic. In Brisbane it was only 7% this weekend:-

http://domainmastheads.homepriceguid...s/Brisbane.pdf

fish.01

Apples and Oranges

ABCDiamond

158 properties sold at Auction in Sydney with just 2 sold in Brisbane, for Saturday 11th December 2010.

This one 15 Petrina Street went for $520,000 in Brisbane.

Similar price in Sydney got this: 241 Tower Street for $525,000

NedKelly

Which ones the Apple and which one is the Orange?

Steve2009

And which one's the lemon?

DeadVim

Dunno but I'm sure there will be someone along soon to say the Apple is much better built, in no way overpriced and it's user interface is far superior to the Orange.

(edit) C'mon people vote me, that has to be funnier than a dose of Herpes Simplex!

<Shameless Plugothon Rating 9.2>

fish.01

The Apple is Sydney's clearance rate and Orange is Brisbane's...not really comparable given the tiny use of auctions in Brisbane. As you probably already know the rate in Brisbane is always lower due to the specialty nature of what gets auctioned possibly. Saying that, Brisbane's rate can be compared to itself and it is lower than usual. Not surprised as property has been cooling since mid year.