Real Estate News
Auction Clearance Rates
With all the real estate news in the media, what is a good way to find out what is really happening in the real estate market?
One of the simplest ways to cut through all the hype is to check out what the latest auction clearance rates are. This will give you a good guide as to where the market currently is. Residex normally update the clearance rates each week. As you start to look at the auction clearance rates over a longer period, then a trend may become apparent. However, be aware it does not tell you where the market is heading. It is historical data only.
The other major thing to watch is that most of the auctions occur in the Sydney and Melbourne markets. Auctions in regional areas are normally for properties that are not easily appraised. Having said that, Sydney and Melbourne are perceived as the leading markets in real estate.
Remember, at the end of the day it is only a guide.
Luxury Property Auctions
Auctions are typically used for very expensive, and properties that are unique. Having said that they don’t always go smoothly. For an example of what happens when they don’t always work see this article.
Auction clearance rates in Sydney
Investment property news
