[booboo]

Another average result from APM, with the clearance rate settling back into the mid-50s range. With the results from Easter long weekend missing due to the low number of auctions, all comarisons will be back to the not-so "Super Saturday".

A 56% clearance rate, a small rise from 54% reported from Super Saturday. (If you're Dr Ando, we're now back into a "rising trend", I guess, based on our two samples.) The corresponding wekeend last year had a 55% clearance rate reported form APM (incidentally, the corresponding weekend last year was the week prior to Easter).

The number of auctions had a big (expected) fall to 182 auctions + 36 withdrawn, compared to Super Saturday's 533 auctions + 93 withdrawn. The same time last year there were 457 auctions + 70 withdrawn.

The median had a big fall, down to $660k from $835k (last year it was $769.5k). The average also had a big fall, down to $639.2k, from $895.5k.

Last APM report from me, until the weekend of May 12th when I will back. Thanks to staringclown, if he could just cut and paste the results from APM in this thread for the next couple of weeks (at this link) that would be great!

Quote

Sydney Auction Results
Saturday 14th April 2012
Property Snapshot
Total Properties: 182
Sold: 121
Withdrawn: 36
% Cleared: 56%
Total Sales: $77,342,350
Median: $659,750

[booboo]

This will likely be one of the last posts reporting the REINSW "results".

The REINSW manages to keep the headline clearance rate above 62%, but the real adjusted clearance rate fell to 53.8% (which includes withdrawn and postponed, those dodgy jokers!). The number of unreported remains statistically significant, at 72 auctions (with, no doubt, some further results "missing"). It's very likely that the real clearance rate, once all the "no result" auctions are added in was under 50%.

The average was $593k, a big drop from $660k and $729k the previous weeks.

There was a significant bounce in the number of private sales from the Easter week lows, back to 568 from 334. This is back roughly tracking the same volume of private sales from late Feb to mid/late March. The average, however, was slightly up, at $490.8k, from $477.9k and $478.5k the previous weeks. This is still down, however, on the low-$500k averages seen typically in March.

Quote

nsw Auction Results
Snapshot
Clearance Rate 62%

Reported Auctions 380
Last week: 263
This week last year: 416

Sold prior to auction: 64
Sold at auction: 157
Sold after auction: 13

Passed in: 146
Passed on vendor's bid: 23

Withdrawn: 45
Postponed: 10
No Result: 72

Total Volume: $138.66mil

Quote

House
Total Auction Houses: 294
Clearance Rate 62%
Median Price : $755,000

Flats and Apartments
Total Auction Flats/Apartments: 73
Clearance Rate n/a
Median Price: $525,000

Vacant Land
Total Auction Vacant Land: 13
Clearance Rate n/a
Median Price: $646,000

Private Sales
Private Sales 568
Total Volume: $278.11mil

[cobran20]

link

Quote

...Sydney's clearance rate yesterday was 58.9 per cent compared with last week's 54 per cent. ''Rising clearance rates should improve seller confidence,'' said Dr Andrew Wilson of Australian Property Monitors.

[zaph]

Quote

WW3 and the widespread use of nuclear weapons Rising clearance rates should improve seller confidence,'' said Dr Andrew Wilson of Australian Property Monitors.

[muzza]

Yesterdays figures from APM, only 117 properties sold Sydneywide.

Median: $702,500
% Cleared: 49%
Total Sales: $82,928,000
Withdrawn: 43
Total Properties: 197
Sold: 117

Louis Christopher kindly tweets....

"Yesterday's result for Sydney is the lowest Clearance rate reported since 2008 (excluding some public holiday wkd's etc)."

....he's worth following for a more unbiased view from within the industry. On another tweet he makes the point that had the clearance rate been the best since 2008 it would have been on the front page of the papers today, yet this significant failure has gone completely unreported by the mainstream. Make of that what you will

[muzza]

I'm sure booboo is having a wonderful honeymoon atm, but I'm sorry he's not here today to give us his take on this result.

[zaph]

muzza, on 29 April 2012 - 12:47 AM, said:

Yesterdays figures from APM, only 117 properties sold Sydneywide.

Median: $702,500
% Cleared: 49%
Total Sales: $82,928,000
Withdrawn: 43
Total Properties: 197
Sold: 117

Louis Christopher kindly tweets....

"Yesterday's result for Sydney is the lowest Clearance rate reported since 2008 (excluding some public holiday wkd's etc)."

....he's worth following for a more unbiased view from within the industry. On another tweet he makes the point that had the clearance rate been the best since 2008 it would have been on the front page of the papers today, yet this significant failure has gone completely unreported by the mainstream. Make of that what you will

it's clearly a low figure because of the local government elections in QLD. it also rained all day in Brisbane.

i don't really follow auction rates, as in QLD they mean nothing, but that appears a very high percentage of withdrawn properties. is it? if it is it indicates a high percentage of properties where that was absolutely no interest.

[muzza]

...agreed.Also worth noting is the low volume. Where there is interest sellers and buyers are failing to meet at a time when stock on market is sky high.

[cobran20]

zaph, on 29 April 2012 - 01:10 AM, said:

it's clearly a low figure because of the local government elections in QLD. it also rained all day in Brisbane.

Don't forget it was ANZAC day on Wednesday. Surely that must have put the entire country off from purchasing a house!

[sydney3000]

cobran20, on 29 April 2012 - 03:06 AM, said:

Don't forget it was ANZAC day on Wednesday. Surely that must have put the entire country off from purchasing a house!

The real reason is that 'One Direction' concert tickets started selling on April 28, 2012 for concerts in September 2013. You can't be at two auctions at the same time. A property lasts a lifetime. A 'One Direction' experience lasts for eternity.

What is next? Pay 60 months before the concert? By the time the concert rolls around the next boy-wonder is promoted.

This post has been edited by sydney3000: 29 April 2012 - 04:31 AM

[staringclown]

For posterity and booboo.

Quote

Sydney Auction Results
Saturday 5th May 2012

Median: $720,000
% Cleared: 61%
Total Sales: $150,299,900
Withdrawn: 45
Total Properties: 292
Sold: 204

[cobran20]

58% clearance rate for the week. That 0.5% rate drop has made all the difference!

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