Melbourne’s auction clearance rate rockets to 90%!

So says the spruikers at the REIV:

Not so says CoreLogic, whose final auction clearance report recorded a clearance rate of 63.7% for Melbourne and 58.4% nationally:

SQM Research’s final clearance rate was even weaker at just 45.5% for Melbourne, well down on the pre-COVID high of nearly 70%:

Accordingly, Louis Christopher ridiculed the result:

Reader responses are also hilarious:

Nice try REIV.

Leith van Onselen
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Comments

  1. Problem is that some will believe this!
    Where are our betters who should be reprimanding such high profile people for telling huge porkies????
    Or perhaps they were told to ‘talk it up’ and just didn’t understand where to draw the line….

      • or stupidity level of the average Aussie is at levels none of us thought existed. So, they don’t care how silly their numbers are as they know bulk of the populace will believe them and those very few smart ones that will try to expose them will be laughed as conspiracy..

    • Our ‘betters’ are corrupt, complicit, vested, self serving, greedy, arrogant scum for who form a jerk circle wit the REIA etc. Even the Acronyms REIV are made up sound like an important government department doing good public work.

  2. REIV are now reporting the Covidly adjusted clearance rates as recommended by the RBA during the first wave.

      • So, if I went to lowball hard on a place but didn’t get it, that’s considered a sale now, eh? Right-o! I’ve got a couple of dollars I’d like to bid on a few places…

        • Goldstandard1MEMBER

          That would be a 200% clearance and that’s just you! Imagine the number when others put low ball offers in that won’t be accepted statewide!

  3. You can see what they have done. They are reporting only 188 auctions as opposed to 277 from core logic. In theory as this is not regulated you can say you got only 1 auction result which sold and so its a 100% rate

  4. anecdotally know of several who have sold over last week or so all advised and did do so prior to auction. most interestingly all sold to young chinese couples (no idea if living here or expecting to ie off shore or more likely fronting for others). all around Bayside – Hampton (1) & Brighton (3)

    • Your comment annoys the crap out of me. Of course its a new thing, its claiming the best ever clearance rate in the worst market ever. Tell me when that has happened before?