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Melbourne Auction Results - Latest Results From APM, RPData & REIV; Melbourne Auction Clearance Rate Thread
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Topic Started: 18 Dec 2010, 06:34 PM (132,886 Views)
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Ray White
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18 Dec 2010, 06:34 PM
Post #1
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Melbourne Auction Results
65%. Highest for a month. Crash postponed. Again.
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BubbleTrouble
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18 Dec 2010, 06:53 PM
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- Quote:
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Including today’s results the overall clearance rate for the year is 71 per cent, lower than last years 81 per cent but higher than in 2008 when it was 63
So no boom either. All is good.
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AK4
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18 Dec 2010, 07:01 PM
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- Ray White
- 18 Dec 2010, 06:34 PM
APM's snapshot gives quite a different picture...
http://domainmastheads.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf
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BubbleTrouble
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18 Dec 2010, 07:11 PM
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- AK4
- 18 Dec 2010, 07:01 PM
How can that be? Aren't these results regulated? :laugh:
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AK4
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18 Dec 2010, 07:21 PM
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- BubbleTrouble
- 18 Dec 2010, 07:11 PM
- AK4
- 18 Dec 2010, 07:01 PM
How can that be? Aren't these results regulated? :laugh:
Haha sarcasm noted. 
I don't think any of them are super-accurate. But at least APM takes a decently sized sample, clearly lists the data used, and calculates clearance rates on the listed data. On that basis, the clearance rate has been trending steadily downwards to ~50% over the last few months.
I must give points, however, to the REIV for what is always an enjoyable read. Being able to say, with a straight face, that high volumes and low clearance rates "highlight the overall healthy state of the market this year", is truly worthy of applause!
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BubbleTrouble
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18 Dec 2010, 07:30 PM
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- AK4
- 18 Dec 2010, 07:21 PM
Haha sarcasm noted. I don't think any of them are super-accurate. But at least APM takes a decently sized sample, clearly lists the data used, and calculates clearance rates on the listed data. On that basis, the clearance rate has been trending steadily downwards to ~50% over the last few months. I must give points, however, to the REIV for what is always an enjoyable read. Being able to say, with a straight face, that high volumes and low clearance rates "highlight the overall healthy state of the market this year", is truly worthy of applause!
Agreed. There are lots of vested interests out there who must find it difficult to report the truth when it doesn't fit their beliefs.
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JohnRoberts
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18 Dec 2010, 11:10 PM
Post #7
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It is amazing that the most valuable asset most people own is their home and there's no real regulation about how market movements are presented.
Imagine if stock market price movements or trends were presented with the same lack of integrity shown by the REIV. Our jails would be full of stockbrokers!
Anyway, they're clearly desperate to put a positive spin out there for the start of next year's market. Won't make any difference if the RBA jacks up rates again in 1Q11..
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catnap
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19 Dec 2010, 07:16 AM
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- Ray White
- 18 Dec 2010, 06:34 PM
110 no result. I make that 19% unreported. There's another thread on here about how the proportion of no results seems to be getting higher as clearance rates get lower...
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Mc_Gusto
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19 Dec 2010, 01:58 PM
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mcgusto
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- catnap
- 19 Dec 2010, 07:16 AM
110 no result. I make that 19% unreported. There's another thread on here about how the proportion of no results seems to be getting higher as clearance rates get lower...
i know massive gaff by both ray white and the riev. could actually and will likely be one of the lowest results for the year. Thanks for sharing the exciting news Ray.
Edited by Mc_Gusto, 19 Dec 2010, 01:58 PM. |
Silence of the BULLS
HA HA
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nuff_ced
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20 Dec 2010, 09:38 AM
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- JohnRoberts
- 18 Dec 2010, 11:10 PM
" It is amazing that the most valuable asset most people own is their home and there's no real regulation about how market movements are presented. "
Imagine going into woolies or coles and seeing a pack of gum advertised at $2-$3 but when you scanned it at the checkout it was $5. Chuck on 6 zeros on the end of that price of gum and then it suddenly becomes legit.
Edited by nuff_ced, 20 Dec 2010, 09:39 AM. |
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Ray White
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20 Dec 2010, 09:51 AM
Post #11
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- nuff_ced
- 20 Dec 2010, 09:38 AM
Imagine going into woolies or coles and seeing a pack of gum advertised at $2-$3 but when you scanned it at the checkout it was $5. Chuck on 6 zeros on the end of that price of gum and then it suddenly becomes legit.
So, you are saying the REIV wrongly reported the auction prices. If not, what are you saying?
The details of every reported auction, including the sold price, are included in the REIV release. Which prices are you saying are wrong?
http://www.reiv.com.au/home/inside.asp?ID=142
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Sunder
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20 Dec 2010, 10:09 AM
Post #12
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- nuff_ced
- 20 Dec 2010, 09:38 AM
Imagine going into woolies or coles and seeing a pack of gum advertised at $2-$3 but when you scanned it at the checkout it was $5. Chuck on 6 zeros on the end of that price of gum and then it suddenly becomes legit.
Gee, does that happen often?
In every housing transaction I've been involved in, I got it for less than the advertised price, not more. Must be a foolish shopper to fall for that one.
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Property speculation is a type of gambling... But everyone knows that in gambling, the house always wins in the end.
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nuff_ced
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20 Dec 2010, 10:29 AM
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I'm saying auctions are a sham and figures related to auctions are a sham too. You have something for sale tell me the price and I will decide if I want to buy it. It works well for 99.99% of other purchases we make in our lives and I personally stay away from them.
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Mc_Gusto
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20 Dec 2010, 12:05 PM
Post #14
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mcgusto
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- Ray White
- 20 Dec 2010, 09:51 AM
- nuff_ced
- 20 Dec 2010, 09:38 AM
Imagine going into woolies or coles and seeing a pack of gum advertised at $2-$3 but when you scanned it at the checkout it was $5. Chuck on 6 zeros on the end of that price of gum and then it suddenly becomes legit.
So, you are saying the REIV wrongly reported the auction prices. If not, what are you saying? The details of every reported auction, including the sold price, are included in the REIV release. Which prices are you saying are wrong? http://www.reiv.com.au/home/inside.asp?ID=142
ray. i note that the riev has marked down the clearance rate to 64% with 80 still unknown. Funny that they are still unknown by Monday don't you think? 80 out 0f 600 is what 13-14%? Care to comment? still think the clearance rate rose as you stated?
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Silence of the BULLS
HA HA
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Sunder
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20 Dec 2010, 12:09 PM
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- nuff_ced
- 20 Dec 2010, 10:29 AM
I'm saying auctions are a sham and figures related to auctions are a sham too. You have something for sale tell me the price and I will decide if I want to buy it. It works well for 99.99% of other purchases we make in our lives and I personally stay away from them.
I disagree that the auction process is a scam. It's a transparent way to allow the market to determine a fair price.
The auction figures are of such low quality as to be nearly worthless, but that doesn't make it a scam. That's just poor quality data.
If you want high quality data, use data from the Valuer General, or the Land Titles Office, or whichever applies in your state - you will have to pay for it, and wait a few months though.
That said, you get what you pay for, and how much do you pay the REI(X) for their stats?
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Property speculation is a type of gambling... But everyone knows that in gambling, the house always wins in the end.
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5:47 AM May 23
