Auction clearance rate reported often incomplete data: ABC's Fact Check

A crucial concern for anyone following the property market - be they a home buyer, an investor, a big-time developer or even an industry member - is getting the best and most accurate data possible.

An article published by the ABC's Fact Check unit is looking at the data presented by Australian Property Monitors (APM) and RP Data surrounding auction clearance rates - statistics Property Observer, and other news outlets, use on a weekly basis. It's fascinating reading and has gripped several Twitter feeds this morning as the conversation battles on.

SQM Research's Louis Christopher weighed into the debate:

@Macro__Business @JennieDuke @GeorgeRousos @CCASHMORE_BUYER @DocAndrewWilson Residex most complete and Sydney focused shows 70s. So does RP

— Louis Christopher (@LouiChristopher) December 15, 2013

Meanwhile, observer Catherine Cashmore suggested the following:

@JennieDuke @LouiChristopher @GeorgeRousos Agents should b required to disclose whether sold under hammer or pass in

— C Cashmore (@CCASHMORE_BUYER) December 15, 2013

There are several ways of approaching this - either presenting the previous week's revised data (and making note of revisions to come) - lagging the results presented, or providing a comparison between all the major sources on a weekly basis.

We'd like to open this up for readers to have their thoughts heard. What do you think is the best approach? What sources do you want to hear more from? We'll endeavour to bring you what suits you best in the new year.

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There's more to clearance rates than meets the eye - Observer, Catherine Cashmore

jduke@propertyobserver.com.au