All about auction clearance rates...Melbourne and Sydney. Queensland doesn't have as much faith in austions and sellers lean toward private treaty type sales. I believe Perth and SA may be similar?
Maybe the clearance rates reflect that there just might be more people prepared to put their homes on the market and wait for an offer rather than rush to auction? Could be the homes going under the hammer may also have unrealistice reserves? Many sales take place after the auction, can be a month after the actual auction took place too. Are these recorded as an auction sale or private treaty?
I think a more realistic indicator of the market would be actual dwellings listed per quarter, as opposed to number of dwellings sold per quarter, on an historic basis.
