A lot of emphasis is put on clearance rates each week, particularly in Melbourne and Sydney – the two main capitals for auction sales – however few people really understand what the clearance rate represents.
BY CATHERINE CASHMORE
The broad assumption is that ‘sold at auction’ equates to sold ‘under the hammer’ and a high clearance rate means the market is ‘flying’, while low clearance rates depict the opposite. However it’s not quite so simple.
The clearance figure released on a Saturday afternoon factors in every property that has sold under the hammer, as well as those sold via post-auction negotiation. And in our experience, more homes sell via negotiation.
Read more →
Melbourne and Sydney are notorious rivals. It’s hotly contested as to which can claim the title as Australia’s best city, which city has the best restaurants and where you can find the best sporting events.
BY MICHAEL YARDNEY
Over the last few years both property market
s boomed and more recently both have slowed down. But now a big discrepancy is emerging in the supply and demand ratios for properties in our two biggest capitals.
While the Harbour City struggles to keep up with sufficient new home construction to house its bulging population, there’s an impending oversupply in Melbourne as a glut of new inner-city apartments gets set to come online over the next few years. And to make things worse, builders have been a little too active in some of Melbourne’s outer suburbs. Read more →