Auction clearance rate exposed

The auction clearance rate creates much discussion. Too much actually. This wonderfully insightful article explains why the auction clearance rate is a hoax – http://www.abc.net.au/news/2013-12-15/auction-clearance-rates-base-on-incomplete-data/5143856

Roger Montgomery also comments on the vested interests that drives the reporting (false) of auctions results – http://rogermontgomery.com/the-real-sydney-auction-clearance-rate-was-49-9-not-83-7/

Why is simply clearing a property a sign of success anyway? Surely attaining the best price is the goal of a home seller? David Jones will  hold a clearance sale on Boxing Day, but they won’t be getting full price for their stock.

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