Latest Auction results - Brisbane 0%

[NedKelly]

Things are a little slow at the moment. The auction clearance rate in Brisbane today was 0%. Wow, is that a record?

http://domainmastheads.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf

 

[BV]

Things are a little slow at the moment. The auction clearance rate in Brisbane today was 0%. Wow, is that a record?

http://domainmastheads.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf

It wasn't many auctions but it does indicate the unwillingness of people to pay a premium for something they could buy for less, afterwards

 

[Rolf Latham]

Like BV said

Just a sign of vacuum of vendor expectations partially fuelled by unrealistic REAs and buyers not willing to come to market.

Also suggests that there arent too many desperado sellers yet, though we dont know what post auction action will bring

ta
rolf

 

[buzzlightyear]

Is that correct? Does that mean there was supposed to be 11 auctions in the whole state?

 

[NedKelly]

Is that correct? Does that mean there was supposed to be 11 auctions in the whole state?

Just Brisbane.

 

[ozsupra]

I'm sorry but those figures are totally inaccurate. I know of at least 14 auctions in my local area during that time period that are not listed. However that being said, I do believe the clearance rate. I still fail to see why sellers go anywhere near auctions.

Remember 86.42% of statistics are incorrect.

 

[HNguyen]

I'm sorry but those figures are totally inaccurate. I know of at least 14 auctions in my local area during that time period that are not listed. However that being said, I do believe the clearance rate. I still fail to see why sellers go anywhere near auctions.

Remember 86.42% of statistics are incorrect.

I think most auctions these days are mortgagee sales.

 

[Propertunity]

Remember 86.42% of statistics are incorrect.

Well 14% of people know that

 

[NedKelly]

Well 14% of people know that

Yes, it's the 80% - 20% rule give or take 6%.

 

[wylie]

I think most auctions these days are mortgagee sales.

I couldn't agree with that. Do you find that is the case in your area?

 

[Tony3008]

MELBOURNE real estate agents and vendors are increasingly withholding or manipulating data provided to the Real Estate Institute of Victoria, prompting calls for the mandatory reporting of all property sales to protect consumers. ... Real estate agents and vendors have been accused of deliberately omitting auction information to conceal poor results and create a more positive perception of Melbourne's ailing property market

http://www.theage.com.au/victoria/agents-withhold-house-price-data-20110709-1h859.html

 

[bbmick]

MELBOURNE real estate agents and vendors are increasingly withholding or manipulating data provided to the Real Estate Institute of Victoria, prompting calls for the mandatory reporting of all property sales to protect consumers. ... Real estate agents and vendors have been accused of deliberately omitting auction information to conceal poor results and create a more positive perception of Melbourne's ailing property market

http://www.theage.com.au/victoria/agents-withhold-house-price-data-20110709-1h859.html

Crickey, I just read at the bottom of that story.........

"The Baillieu government made a surprise decision last week to relax regulations protecting consumers from agents who buy a property they have been hired to sell despite the obvious conflict of interest."

Just as well I only buy and never sell property!