So, this takes us to two questions. First how are the figures collated and second, what adjustment are made between the listed auctions and final figures? APM publishes auction activity results for the Sydney, Melbourne, Brisbane and Adelaide capital cities every Saturday evening, providing a snapshot of how demand and supply in the auction market is behaving and as a leading indicator for the overall property market.
Auction activity for the other capital cities is also monitored and made available by mid week. APM publishes Auction Clearance Rates ACR on the Saturday evening, based on the majority sample collected on that day, for release across various publications on the Sunday, while the process of collecting results continues throughout the week. When reporting auction activity, APM monitors the following five key elements that can occur to properties listed for auction.
These are. Including some or all of these five elements of auction activity in the calculation used will affect the reported clearance rate. Sold at auction plus sold prior, over all reported plus withdrawn. APM includes withdrawn auctions in the calculation to prevent any bias in the clearance rate caused by properties being withdrawn due to expectations it may not sell or fail to achieve an expected price. I also examined in detail the weekly listings of property sold, each transaction is coded in line with the APM method.
I also saw a small number of what appeared to be duplicate transactions across weeks, but not a significant number so I think we can lay to rest the idea that the results may be being inflated by duplicating the same results across multiple weeks.
Our auction data is collected directly from the industry, via a variety of channels including our call centre based in Adelaide, results which are pushed through from agents via our app or portal, or via direct data feeds from agency groups.
Each week we publish three sets of clearance rates: Saturday night, Sunday morning CoreLogic media release and final results on Thursday morning. The collection of auction results progressively improves across each release as we receive more results from the industry. There has been some discussion that auction results which are not reported each week must also be unsuccessful auctions intentionally withheld by the agent.
Latest Auction Results – Saturday, 23 February 2019
Regardless, we publish our results with full transparency, showing the number of auctions, together with the number of results collected segmented by successful auctions sold before, at or prior to auction and unsuccessful results unsold, vendor bid, withdrawn.
For a long time there has been discussion around whether auction results are accurate or not. My take out of that is there may be some holding back of failed sales by some agents, but there is no way to triangulate the quantum of the problem, and there is no mandatory reporting of results.
So the data must be seen as a best endeavours exercise. Tim also makes an excellent point that the trends really tell the tale. So, one final piece of the puzzle is some analysis we have done of the results, using both the percentage of all listings and sold property. I have charted the monthly trends for the second half of last year. Here is the plot for Sydney. We see the clearance rates are declining, and the ratio of sold to listed is falling faster — suggesting that more properties are withdrawn perhaps a sign of a fading market.
Compare this with Melbourne, where the momentum is also slowing, but the ratio of sold to listed is not so far below the sold to auctioned ratio — which suggests Melbourne is a little more buoyant though is still slowing.
One final piece of the puzzle. Looking back further, this ratio is pretty consistent. The former is, I think more likely than the latter, because in a falling market, I would expect a smaller number of auctions to run, compared with private sales. And we know that the listing volumes, and time in market, as well as discounts made to close a sale are all rising.Down Down Property Prices Are Down (February 2019)
Domain has released their preliminary results for today. The weak results continue, with a final clearance rate last week of Once again the results today are off low volumes, and will likely settle lower.
Domain released their preliminary auction results for the 9th March.
Latest Auction Results - Saturday, 23 February | Home I Own, Aussie Real Estate Blog
Domain released their preliminary results for today. Similar trends with last weeks final results giving a national clearance of So lower volumes are clearance counts. We will see where the final results settle. I discussed the true state of play with property insider Edwin Almeida this week and we discussed how the auction data is collected, and whether it can be relied upon.
The clearance rates are a little higher than before Christmas, but on very low volumes, and both volumes and clearance rates are way down from a year ago.
Sold prices & weekend auction results | REALas
Little to suggest a real bounce. The final results from last week came in at Brisbane listed auctions, reported 47 and 10 were withdrawn.
Adelaide listed 60 and reported Keywords eg: Property Types. Update Save search. Commercial properties sold in Melbourne, VIC List Map. Sort search results Sale Date.
Price Withheld. Evelyne Ioannou Marshall White One. Michael Torcasio Galldon Real Estate.