Auction Action: 12 December 2015

Another exciting day in Sydney with another thrilling auction report from the Sydney Morning Herald and Australian Property Monitors to digest.

This week the TGP introduces a few new “characterisations” of the results and makes a few improvements.

Unfortunately we have been unable to obtain a free copy of the “final” APM results for last weekend so if you had been hoping for a resolution of that cliff hanger – no luck in that department.

151212 - Snapshot

The “snapshot” that appears at the top of the report states that of the 733 auctions listed yesterday, results were obtained for 530 (458 + 72).

Spooky! – 530 out of 733 is about 72%. Almost the same percentage as last week.   The slackness of agents in reporting results is at least consistent.

Unfortunately the “results” included in the report only totaled 463, so 67 of the 530 were “MIA” – or possibly did not advertise in Domain or had already pulled the ad and thus there was no pretty advertisement to link to in the results report.

Anyhow – onto the good stuff!

The Table below is new and improved and slices and dices the “results” contained in the report in more ways than a Sushi Bar.

Some new features:

  • Pre-Action Panic – Properties withdrawn, sold prior and sold prior not disclosed.  38% of the results listed in the report.
  • Hammer Time – Properties sold under hammer or shortly afterwards. Only 35% of the results resulted in some “Hammer time” action and only 30% sold under the Hammer!
  • Seller Sadness – No bid, vendor bid or passed in.  Again, not a single auction result where no bid was made.  26% of the results

The “% of listed” column presents the “results” as percentages of the 733 auctions listed.  The 63.17% total is due to the 67 “MIA” and the 203 (733 – 530) listed auctions that were not reported.

The “% of rep + withdrawn” column presents the “results” as percentages of the 72% of auctions that were reported.  The 87% is due to the 67 “MIA” results.

151212

Updated:   The original table above has been updated. We realised that some of the 67 MIA results must be some of the 72 withdrawn auctions.  The listing of results only indicated 56 withdrawn auctions so that means 16 of the results that do not appear in the listing of results must have been withdrawn as that would give a total of 72 withdrawn. We have now added them in ‘shaded’ light green.

Highlights of the results reported by APM on Saturday.

  • The number of listed auctions declined by 14% on the week before.
  • Only 38.6% of listed auctions resulted in a sale.
  • Properties sold before auction (16.37%) were up on last week and were not far behind properties sold under the hammer (19.37%) – down on last week
  • Almost 10% of auctions were withdrawn.  Down on last week.
  • 17% of auctions were passed in or ended with a Vendor’s bid. A jump up on last week.
  • The specific results/breakdown of 35% of the listed auctions are unknown.

151212-2

Update No 2

The table below is the data from last week given the new treatment.

Highlights of the results reported by APM last week.

  • Only 38% of listed auctions resulted in a sale.
  • Properties sold before auction (13.29%) were significant but less than properties sold under the hammer (21.65%)
  • Over 13% of auctions were withdrawn.
  • 14.47% of auctions were passed in or ended with a Vendor’s bid.
  • The specific results/breakdown of 35% of the listed auctions are unknown.

151205-2

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