Guys I had a problem with my rear shock making clicking noise especially when loaded with a pillion. It would make this clicking noise when going over bumps riding solo as well and more with a pillion behind.
Also after a ride with a pillion, with the bike on side stand the rear would make a screeching/grinding noise when the rear shock was unloaded by pulling at the grab rail. I changed the rear shock with a low mileage one from eBay and it somewhat lessened initially but came back again. So I booked an appointment at a garage for replacing all the shock and linkage bearings(btw the top bearing on the shock is not replaceable)only to realise all the bearings were in top shape. No rust and smooth as a baby's bottom! We changed just one bearing-the garage had goofed up the order and only had one correct bearing-and we put it all back together only to hear the click again. On further inspection realised it could be the subframe. Now I had previously thought of it and checked that all subframe screws/nuts were tight. But loosening them up and retightening to correct spec did the trick.
So if you are hearing this clicks and screeches and think your shock is bad , I'd recommend you loosen and retighten the subframe screws to correct torque. Might just save you £200

 

Thanks, thats good info. As these bikes age, they're bound to have a few more creeks in them. Come to think of it, I do too.