A very weak economy now Australia last Thursday we had the unemployment numbers released right now the unemployment rate fell from five point seven percent to five point six percent great news lowest in three years but if we have a close lookout that data we can see that.
Australian economy is continuing to shed full-time jobs this is bad news all reemployment growth is coming out part-time employment so employers as saying look I can’t afford to give you a full-time job I haven’t got the work right but I don’t to lose you so well put you on part-time and this is another flattening of income skirt so we will seek lower interest rates on the web we’ll see higher interest rates believe me and both ways is not good newsbot. if we get higher interest rates it will only be because of an improvement our economy and it’s something we should be embracing as a
If we get higher interest rates it will only be because of an improvement our economy and it’s something we should be embracing as a maze tiff not as a negative but that is the factor that would push obviously priced downloads in property markets well as we throw it over to the audience to get a quick one for you and put your hand up if you want us to get the mightier button of the back got a question here from Joseph can can you ask the doctor the main derives its clearance rate ok well every Saturday every Saturday we have a team of people in our offices and we ring around our agents to get results-from clearance rates so then we report our Saturday clearance rate which is Saturday clearance rate now typically we get around about .Visit@ www.valuationsnsw.com.au
sixty percent of listings sixty-five percent of listings reported to us on a Saturday and re-record our clearance rate as a result of that so it’s the sales including the withdrawals versus the reported okay so the point about the interest rate and of course there has been some questioning about the.
Methodology but the point about the methodology is so much the actual nature of the methodology it’s the fact that inconsistent from weekend to weekend so we are measuring the same prop we’re using the same process to measure the auction-market every Saturday every Saturday every Saturday so whether it’s eighty-percent or eighty-five percent or sixty percent it’s relative to every weekend using the same measurement process now.