Well, the guy wanted to know any areas where prices would breakout and i've never seen you make any post about that (now would be a good time to do it).
I mean, all you seem to post is the clearance rates (which you now say mean jack) and post your little trips to the coffee shop...
So who is really posting worthless post?
After all, the banks have nearly everything to do with housing, without them how will people buy houses with only the FHOG as the deposit....like the good ol days
Revised figures released by the Real Estate Institute of Victoria show the clearance rate last weekend was 59 per cent - two percentage points lower than initially published - because 76 estate agents failed to report properties that had passed in.
The REIV was forced to phone the agents, some of whom said they thought the properties would sell after the auction, to get the missing results during the week.
Yes Mr, the figures are generally revised down and some variance must be placed on them anyway. I would say the real clearance rate is at leat 5% lower than the published.
A) there has been a significant drop in demand as a result of sellers not meeting current buyers expectation on price and/or buyers simply not being able to access as much credit due to expanding interest rates
B) foreign buyers have left the market due to the high $AU and some have turned into sellers adding to supply
C) Supply has been added to significantly and demand has remained constant.
The more interesting thing is the large volume spike in supply.
easily under 60% this weekend.
Auction clearance rates are an historical leading indicator of what's going on in a particular residential property market...................
For Sydney, usually a sustained auction clearance rates of 60%+ provide a leading indicator that prices are rising strongly. Rates < 50% normally indicate falling or stagnant prices.
Last week:
In Sydney, just 58 per cent of the 316 homes under the hammer sold, with $161.7 million total weekend auction revenue compared with $218.4 million on the same Saturday last year.
http://www.news.com.au/money/proper...all-on-rate-rise/story-e6frfmd0-1225949385174
what are stock levels like?
hello,
wouldnt have a clue MW, i just report the figures like you
got a feeling though the REIV has changed its reporting methodology from last year, oh well
thanks to Enzo for getting the results together
my research is and always been on the future of australian property prices and i advise my clients on suburbs, towns and techniques to grow their wealth with property
thankyou
professor robots
hello,
my research is and always been on the future of australian property prices and i advise my clients on suburbs, towns and techniques to grow their wealth with property
thankyou
professor robots
I don't know why it is down by 25%.
This week: 778
Last Weekend: 669
This time last year: 734
S Sold at Auction: 387
SB Sold before Auction: 81
SA Sold after Auction: 7
Passed in: 303
Passed in on vendor's bid: 193
Clearance rate: 61%
Last year 81%
I don't know why it is down by 25%. Perhaps you can explain why Professor?
reiv deliberately misquotes..
last week they proclaimed 61%, BUT ACTUAL WAS A LOT LOWER
it was way worse than reported, at 59%
today they are reporting at bogus figure of 61% for saturday, with 139 of the 778 not reported as usual
my guess it that history will repeat and the actual will be a revision far lower than the all important psychological 60%
The clearance rate this weekend is 61 per cent, compared to last weekends 59 per cent.
Hey MW, that house of yours is positioned precariously on the edge of a cliff. Whenever there's erosion of the sort and if you’re not alone, the Government usually takes measures to prop your house back up.
Or is that council? Perhaps just earthworks are required!
am really looking forward to the big drop in interest rates that will come again....
just 2 days out from the year end, and all those horrid figures coming out so soon...just wait for all the worst figures to be reported in the next 3 months
retail spending is the worst in 25 years....etc
those 6 rate hikes in as many months cruelled the economy....Swan and Rudd had no idea, so with all the pressure from them the RBA kept upping the rates...in order to substantiate Swan and Rudds foolish lies, that the economy was strong under their leadership....
am afraid Gen Y has finally succumbed to the reality that they are not affected by the GFC.....notice a large number of shops in Chapel st have closed their doors....so the kids have stopped spending
the banks have tightened lending, so it will be harder for the kids....
they will have a chance again with the coming lower interest rates, but they need to get out of the inner suburbs, and buy affordable houses in the outer suburbs......just an easy half hour drive on our great freeways....
due to the political fiasco of the past 2 years, and now the looming elections, investors have held tight.....hence the low building approval numbers...means less housing available in the future...
with a federal election in the coming months, most investors will probably wait for the result before making a move....
but others will be gearing up, ready to pounce with the lower rates....and the prime house sales period of Spring should surprise the average punter....
the kids who took advantage of the low rates in 2008, and ignored the doomsdayers warning, are feeling pretty smug now, with average 20% gains..those who missed it last time, will not miss it this time.....
just another window of opportunity.....all other developed economies have not raised their rates after dropping them in 2007.....australia was the only mug country to raise rates.....we can blame the gang of 4 for that disaster...
so whilst the GFC phrase 2 plays out for another year or two, astute investors will be preparing for the next bonanza, as the world recovers from the GFC.....
there will be some stunning opportunites for the smarter ones, who are cashed up and can obtain finance.....
the small superfund investors have started buying commercial properties again...and the asians are in on this too....spending 23 million in just a day or so...
http://www.theaustralian.com.au/bus...s-shopping-again/story-e6frg9gx-1225886373571
ps... that fiasco with the mining tax yesterday is not a done deal....just more smoke and mirrors to suck in the voters.....watch out for the angst from the small miners, and the backlash on that front.....it will not be good for the stock market....
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