Beware of statistical averaging

clearance rates 150929

The media headlines this week have the “Sydney market cooling” with some even calling the “peak of the market” – based on auction clearance rates “falling to below 70%”.

Whilst it is true that we are not seeing the 80-90+% clearance rates of even a few months ago, it is also true that figures can be skewed by treating the Property Market as just one market (instead of the many markets which it is) and averaging data city-wide.

For example, if you are trying to buy a property in the Eastern Suburbs, North Shore or Inner West, (where we as Propertunity Buyers Agents are very active) as a buyer you still have to contend with auction clearance rates well above 70% and in some cases above 80% as the (Fairfax Media) graphic below shows for Super-Saturday 26/9/15 (source: Domain Group). That’s why it makes sense to hire the professional help of a buyer’s agent to navigate your way to a successful purchase.



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