al dente

Tried to load the latest figures of results and it hasn't refreshed from last week.

Very happy to see one house in paddo sell midweek for 1.89mill after being on the market for 2.2! Need my overall picture fix..

isgraham

This should tell you all you need to know about the clearance rates

http://www.news.com.au/money/auction...-1226016477643

phat-dave

I'm in Melbourne (South Yarra) and a 3 bedder townhouse went for $1.710m yesterday morning ... I thought rent-a-crowd were involved, bloody people EVERYWHERE.

Ridiculous pricing.

spottydog

I've noticed this weeks figures aren't out yet but sometime they don't come out until Monday.

From what I've seen on the sold lists this week I think it was quite a successful weekend. For the area I live in, many more properties have sold than last weekend and personally I know of 2 friends that sold at auction and prior to auction this weekend getting the money they were hoping for.

spottydog

Todays Sun Herald (printed) showed 221 properties sold with a clearance rate of 56.2% if that helps

al dente

Ta!

IvanM

Went to one yesterday. Passed in with no bids. Vendor had over optimistic expectations driven by estate agents.

al dente

REA are known for it. Where and in what range?

wilf70

There is an interesting discussion of this 'problem'[and the real reasons behind it] on Macrobusiness.com.au---read and inwardly digest

wilf70

There is an interesting discussion of this 'problem'[and the real reasons behind it] on Macrobusiness.com.au---read and inwardly digest--also read the comments at the end;in some ways the most informative.

sonlymewalter

Interesting reading

http://www.news.com.au/money/auction...-1226016477643

balkanghost

Also read same article today. The real estate industry/spruikers (plus retiring/downsizing baby boomers & oldies moving into retirement homes) rely upon several factors:

focus upon auctions & clearance rates (which get fudged), ignore stock on market (massive), median prices (most people confuse with average), talk up housing shortages (without any evidence), talk up increasing population/immigration growth i.e. more renters to entice investors (immigration & international student numbers stalled & dropping a lot...), banks to supply low equity/deposit loans (how much longer keeping shareholders happy?), govt. subsidies/middle class welfare (negative gearing/first home buyers grants), encourage sellers to take properties off market (to limit supply) and Fairfax media i.e. SMH and The Age to run highly suggestive articles and advertorials that one should get into property now or miss out... (Real Estate provides much of their income)......

one needs to read The Economist to learn what's going on in Oz

al dente

The figures still aren't up, which is frustrating. Thanks for the links to the other articles. I'm amazed that the fudging is being reported, even if it is to back stab each other's media monitoring, it's still a start.

al dente

Hmm. This past month i have now seen 2 houses i like listed as sold that then come back on the market within weeks as a fixed price sale. There is some serious fudging going on.

sonlymewalter

yep, see post 11 and the link I gave mate
http://www.news.com.au/money/auction...-1226016477643