“The pass in rate is up…..the pass in rate is down”. So what does that really mean? The weekly announcement from the newspapers is useful but often can send negative or positive messages to the public.However there is no method to disseminate the results. For example when the rate moves one week to the next it does not necessarily mean that prices have gone up or down nor does  it say that the pass in rate in the outer suburbs [where Auction is not as common as in the inner suburbs] is higher or lower and vice versa.                                              
 
Therefore do not think that auction results are in any way a reflection of the state of the market and remember that not all auction or private sales are reported to the media.                         
 
This weekend past 63% of properties auctioned sold .Last year the rate was 85%.                                             
 
Call Brian if you feel you need more explanation.0439004889

Tags: auction results

This entry was posted on Monday, August 25th, 2008 at 10:54 pm and is filed under Property Market News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.