Property Gaslighting Continues In Spades…

Once again, we are off to the races with preliminary auction clearance rates being spruiked to high heaven again over the weekend. As I discussed recently, these numbers are misleading because they rely on reported results, which are biased towards successful outcomes, while avoiding the gap between listed and reported results. Take Domain for example, in Sydney while 719 were listed, only 481 were reported, with 365 sold, creating a clearance rate of 75.9% in Sydney. In Melbourne, 616 were listed, but only 449 were reported and 311 sold creating a clearance rate of 69.3%, which by the way was […]