Brisbane, and Adelaide, agents must not know, about this cunning plan -- they've been reporting 30-40 percent clearance rates, for many months!! Likewise Sydney, and Melbourne, in 2008, when clearance rates tumbled. In short -- there is no evidence, of agents falsely inflating figures, during "bad times", because these figures do drop, very low, during bad times................
It was black_dragon and Neil Jenman who have complained about REAs under reporting failed auction results. No offence, but I will believe them over your claim of "no evidence", and both of those guys are in the industry, have worked with REAs and understand what goes on. Unless you are an REA in disguise and wish to prove as much, I will take their word over yours. The door is open, however, to show your credentials. I freely admit I have none apart from being an interested watcher and reading what I can.
As much as I'd love to say that the auction clearance rates in Brisbane are indicative of much, they have the same problem Sydney had during the GFC: the sample size was/is too low. And as Plonk mentioned, Brisbane and Adelaide clearance rates are traditionally lower as auctions are not the preferred method to sell in those cities - different markets / expectations from buyers I guess (and hence the lower sample size). In comparison, auctions in Sydney and Melbourne are more the norm and have significant sample size to draw conclusions from - or they would, if more than 1/3 of the auctions were reported.
For me personally, when I have auctions I am interested in it is a source of frustration to see them not reported by APM (mainly as I like to monitor prices in the areas I am interested in, or to see how places I am interested perform). I will freely admit that there are a significant number of auctions unreported that do sell (eg I see removed from Domain/RE.com.au after the auctions), although from my anecdotal evidence of watching for auctions more of the unreported auctions tend to have not sold (eg they are not removed from the relevant website).
As a final digression, it was with much mirth that I saw that Enzo blamed high auction numbers for lowering clearance rates. If demand really was as high as claimed at the current high prices and supply so low, then either 1) it would be unlikely to see such "high" numbers of auctions, or 2) the clearance rates would not fall (if the auctions replaced, say, normal listings).
Edited by booboo, 01 June 2010 - 03:50 AM.