Stuart Zullo
Sydney’s auction rate has slowed somewhat over winter, but that certainly isn’t putting a damper on the market. More than half of properties listed for auction are sold under the hammer, which is a good success rate.
The property market can change weekly in a city like Sydney, so I suspect that even though the auction clearance rate for Sydney is roughly just under 60% right now, that could increase to a higher success rate in coming months as the climate warms.
Auctions are something that all sellers should at least consider when selling their property. Housing is still in demand and people are seeking to purchase property before future interest rate rises. With a new PM at the helm, people are concerned about what is going to happen with the Australian economy, and with negotiation talks on the resources super profits tax, anything is possible.
My advice is to talk to your agent about how an auction could benefit the sale of your property – if nothing else; creating hype and excitement about your property can only attract new buyers.
For buyers attending an auction, do your research before you attend, and you could find yourself the proud new owner of your dream home when that hammer hits the gavel.