Increasing levels of secrecy are being witnessed in the Australian property sector, as more people look to keep sales data private.
The Age reports a growing number of undisclosed sales are being recorded by the Real Estate Institute of Victoria - 49 of 624 auctions last weekend - and this is a growing trend across the whole of the country.
"I think it's ridiculous, especially for something that's sold at auction in public. It should be mandatory,'' commented Jellis Craig director Alastair Craig.
''I have buyers coming up to me all the time because they can't get a handle on the prices.''
Jellis Craig is one of the leading real estate agents in Melbourne, having been in operation since 1991.
The news comes at a time when auction clearance rates in Sydney are improving, with the latest data highlighting a 67.3 per cent completion rate for the year so far.
Posted by Craig Francis
