One last hurrah? 670 auctions in SYD today

http://www.smh.com.au/national/real-estate-agents-spring-into-auction-20090925-g6a6.html

SYDNEY'S real estate agents are anxiously gearing up for today's record 670 auction listings.
Last-ditch vendors are hoping to cash in before the boost in the first-home buyers grant ends at the end of the month.

Well Melbourne may be having some sporting event on today that makes its RE market quiet, but Sydney will be picking up the slack - she must surely take the crown of "auction capital", if only for 1 day :p

.......and all this in the midst of another orange dust storm :eek:
 
I heard on the radio this morning that the clearance rate was 62%.

But clearance rates are one of the rubberiest figures in real estate (and that's saying something).

Apparently, reporting of auction results are not compulsory by agents so can be manipulated any which way. To be taken with a grain of salt.
 
Median property prices in Sydney

You can check here on any suburb of interest to you:
http://www.homepriceguide.com.au/auction_results/index.cfm?source=apm

I checked a couple of 'burbs I've been working in and - all sold!

I summarised the median prices for ALL 667 Sydney suburbs (phew that was hard work!) and thought it might be useful for everyone here. This was from the Domain last week.

I have also included the excel spreadsheet in case anyone would like to sort the data.

Hope this helps! Cheers!
 
I heard on the radio this morning that the clearance rate was 62%.

But clearance rates are one of the rubberiest figures in real estate (and that's saying something).

Apparently, reporting of auction results are not compulsory by agents so can be manipulated any which way. To be taken with a grain of salt.

I totally agree with you. Some of those figures are hard to believe and I think there might even be manipulation. Just take it with a pinch of salt!:)
 
Am I missing something or are the results for the previous week (19 Sept)? I'm not finding any of the houses I was watching that were going for auction this weekend.

There may have been no auctions in the postcodes you looked at, or the auction results have no been reported by REAs or compiled and publised by APM ? :confused:

The site says:
These recent property sales results are as reported to APM on or before 28 September 2009.
 
Am I missing something or are the results for the previous week (19 Sept)? I'm not finding any of the houses I was watching that were going for auction this weekend.

The PDF is from the 19th, but if you search by postcode you'll get the latest results.

I guess it's going to take them a while to compile all the results from this weekend :p
 
I heard on the radio this morning that the clearance rate was 62%.
But clearance rates are one of the rubberiest figures in real estate (and that's saying something).
Apparently, reporting of auction results are not compulsory by agents so can be manipulated any which way. To be taken with a grain of salt.

Yep.
Eg:
I went to an mortgagee auction, reserve was 600, outstanding loan was ~600, highest bid ~$550, sold for ~$560 just after auction.

Another had reserve @ 620k (previously bought @ >630), highest bid ~580 and sold for 590 just after auction.

REAs call these a "successful auction" which really means they earnt a commission.
 
Yep.
Eg:
I went to an mortgagee auction, reserve was 600, outstanding loan was ~600, highest bid ~$550, sold for ~$560 just after auction.

Another had reserve @ 620k (previously bought @ >630), highest bid ~580 and sold for 590 just after auction.

REAs call these a "successful auction" which really means they earnt a commission.

Those are obvous corrections in the market....

House prices going up?......sure they are
 
house prices going up , ha! ha! laugh your *** off! and all of those negative posters were selling the end of the earth routine.:rolleyes:
Shame on you.:D
 
I heard on the radio this morning that the clearance rate was 62%.

But clearance rates are one of the rubberiest figures in real estate (and that's saying something).

Apparently, reporting of auction results are not compulsory by agents so can be manipulated any which way. To be taken with a grain of salt.

And ask any realestate agent why you should go with him for auction and not the competition. The answer is usually along the lines of ,"because we have sold more houses at auction than any other agent."

Then go back to the competition and tell him what the OTHER agent said and he replies,"that's because he doesn't really sell AT auction. He sells AFTER auction."

Then go back to the other agent and....:p

Regards JO
 
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