Domain have released their preliminary results for today.
The trends continue with higher clearance rates on lower volumes than a year ago. There were 1,605 listed then, compared with 1,175 now. The value is significantly lower also.
Canberra listed 33, confirmed 22 and sold 17, with 3 withdrawn and 5 passed in to give a Domain clearance of 65%.
Brisbane listed 74, confirmed 31 and sold 19 with 3 withdrawn and12 passed in to give a Domain clearance of 56%.
Adelaide listed 35, confirmed 16 and sold 12 with 1 withdrawn and 4 passed in to give a Domain clearance of 71%.
Hi Martin, I get emailed the auction results from both Domain and Realestate.com.au for Qld (which arrive within a few minutes of each other) and they are usually different. REA shows one bit of info Domain doesnt… how many auctions were scheduled. So for example this week, Domain shows Total Auctions 74, Confirmed results 31, 19 sold, 3 withdrawn, 12 passed in & reports a clearance rate of 56%. Whereas REA shows 179 auctions scheduled, 84 results available, 29 sold, 3 withdrawn, 6 sold prior, 1 sold after, 45 passed in and reports a clearance rate of 43%.
One question I have is if 179 auctions were scheduled & 84 results are reported, what of the rest? It would be interesting to know what happened to the other 95 auctions.
Essentially the data is difficult to read because we never know how many potential buyers there are in the market. If we had registered bidder numbers too, that would be interesting. I don’t see enough data to draw any meaningful conclusions but the news media will report the headline clearance rate from Domain as if it were fact.
It might be worth including REA’s numbers in your weekly auctions results for comparison?