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Weekly auction clearance rates do not paint a particularly clear picture. They have quite a small sample size and show a lot of week-to-week volatility.

If clearance rates are on the way up, does this signal an improving property market? Well maybe, but before we pass judgement on the state of the market, we really need to know what the clearance rates measure and what it means to the property investor.

Auction clearances give an instant snapshot of the market, telling us a lot about prices, suburbs and auctioneers. Auctions are far more prevalent in Melbourne and Sydney, at about 50% of market sales, where they are the dominant sales form in the sought-after suburbs.

Auctions account for a smaller portion of the market in Brisbane, Perth and Adelaide and in the outer suburbs and regional areas of all states. Where auctions are not the dominant method of sale, the clearance data is less meaningful.

Clearance rate information is compiled from real estate agents’ reports of properties sold at, before or after auctions. Investors should note that reporting is not mandatory and will not include properties withdrawn from sale.

Sharp-eyed investors will also notice differences between clearance rates reported by different newspapers, the Real Estate Institute in each state, and APM, which can be explained by timing differences of agents reporting over the weekend or when some agents won’t report failed auctions.

The real issue is not the clearance percentage at all; it’s the underlying volume of successful sales transactions. This gives investors a truer picture of the market. For instance, a falling clearance rate can superficially mask a strong market if the supply of property lifts over a short period, so it’s not as reliable an indicator as it first appears.

Plainly then, high clearance rates can point to insufficient supply rather than a buoyant market, and low clearance rates, particularly in Brisbane, Adelaide and Perth, may not reveal a strong volume of successful private sales.   Monique Wakelin, The Eureka Report

FYI: Read related articles on Auctions; Buying Real Estate; and Real Estate Market

Putting your property on the market poses two very personal concerns:

  1. invasion of privacy: that your personal life will be on show;
  2. theft: your personal effects are prey to any “prospective” buyers

De-clutter your property before placing it on the market for sale: this is my first tip of advice for those vendors concerned with their privacy being publicised to the world.

To some it means removing everything from bench tops, cupboards and shelves and to others it means keeping the home clean, neat and tidy.  But how do you protect your privacy and hide your personals?

Your home generally depicts your personal life, showing your taste in furnishings, colours, art, antiques and family photographs. Is opening your home to the public an invasion of your privacy?  Absolutely!

The experience of Marquette Turner Luxury Homes shows that people buy the home that “ticks most of the boxes”.  When selling your home, you should take the distractions away so the buyer can concentrate solely on looking at your home.

Furthermore, we are not great advocates of open for inspections in a troubled market and it is important to appreciate that household contents insurance does not cover the loss of personal effects during a viewing of a property.  Remove the opportunity for theft and protect yourself as if you were a celebrity like Nicole Kidman, Tom Cruise and Hugh Jackman.

Selling your home can be stressful enough without the concern that someone is taking an interest in your personal life and possessions.

Marquette Turner Luxury Homes we will not allow anyone to view your home without showing their photo identification.  If someone objects they are not respecting your home and are not serious about buying the property. Only a Luxury agency can truly protect your privacy.

Christine Watson

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