With a clearance rate range again of as low as 57% although way through to 78% the question must be asked why.
Scheduled Auctions
1638
Reported Auctions
856
Total Sold
665
Total Passed In
191
Clearance Rate
78%
There are a few reasons why there might be different numbers reported for the Melbourne auction clearance rate:
1. Different Data Sources:
- CoreLogic: A leading provider of property data and insights.
- Domain: A popular real estate website in Australia.
- Realestate.com.au: Another major real estate website.
These sources may use slightly different methodologies to calculate the clearance rate, which can lead to variations in the reported figures.
2. Time Period:
- The clearance rate can fluctuate significantly over time, depending on various factors such as economic conditions, interest rates, and seasonal trends.
Comparing data from different time periods can lead to different results.
3. Definition of “Cleared Property”:
- Different sources may have slightly different definitions of what constitutes a “cleared property.” For example, some may include properties that were passed in but subsequently sold, while others may not.
4. Sample Size:
- The sample size used to calculate the clearance rate can also affect the result. A larger sample size generally leads to a more accurate estimate.
To get the most accurate and up-to-date information on the Melbourne auction clearance rate, it’s best to consult multiple sources and consider the context in which the data is presented.
As the auction year draws to a close, we’re noticing increasing concern among both buyers and sellers about potentially missing out. However, with the holiday season upon us, there are still opportunities to explore through private sales and off-market options.