"Yeah, Kingy, clearance rates were pretty good in Sydney last...

"Yeah, Kingy, clearance rates were pretty good in Sydney last weekend.
"

I've been actively looking at the north shore in Sydney for the last two years. In the 1 to 2 million price range, the clearance rate is woeful.

More often than not, the auctions I attend or keep an eye on, are mysteriously not reported in the weekly auction results, if the auction is withdrawn or property passed in. In fact every auction I have attended, from memory about 6 this year, the house has passed in, yet never, I repeat never appeared in the official auction results.

So until this sleazy industry enforces a code or a law requiring the embarrassed agents to report their dismal failures, to me the clearance rate may as well be decided by making up some random figure that is half believable.

I have no doubt the stuff below 800k is moving ok now we are in spring, as it's still possible for the average couple who are both working to get the bank to sign them up for that much cash. Seems the majority of the buyers in the higher price ranges who are actually closing deals are from China and their cash I assume is also mostly from China.