30% clearance rate report for Sydney, page-3

Hi Fishinnick
A good post based on interesting figures. Nevertheless, keep in mind that these figures are based on the monitory value of auction results. In my experience when a property market begins to fall or level out, vendors often retreat to private treaty sales, so auction results become a poor indicator of market strength. There is no doubt that Melbourne and Sydney are experiencing a retraction, but one must take into consideration that said retraction is coming off an overheated market. That said, I'm not particularly bullish about the Oz property market, but nor am I particularly bearish while the employment figure is running at 5% and China maintains its growth above > 6%. These, in my opinion, are the two indicators to watch with an eagle eye before one can talk about a crash of any significance.