reiv clearance rate vs revised clearance rate

The last 5 weeks the REIV would have you believe that clearance rates have remained relatively steady, however you will note that their number of "no result" auctions continues to increase.

If you add the "no result" auctions onto the total and calculate a new clearance rate based on those with no result not being sold then you get what I call the "Revised Clearance" which for the last 5 weeks has been dropping.




Of course this wouldn't have been the first time that the REIV has been accused of manipulating the figures, case in point:

Last Thursday, in the Fairfax-owned Australian Property Monitors Home Price Guide newsletter, Christopher accused the REIV and some of its inner circle of crooked agents of grossly unethical behaviour. But the commentator may have underestimated the wrath of real estate agents and their influence on Fairfax as huge advertisers.

Christopher accused the REIV of reducing the level of bad news in the market place by controlling the information provided to the media and making a profit out of the data by reselling it back to real estate agents. He went on:

In my opinion, this is grossly unethical behaviour. Real estate news and information should be freely available, independent and not subject to a conflict of interest. And agents should be free (and obligated) to give data back to anyone and not be a pawn of anticompetitive behaviour. Link