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Auction Clearance Rates Climb Above Previous Year’s Results

By Matt Hurlston

Property auctioning has reached the highest level since May 2010, indicating the growing popularity of auction as a way for people to sell their homes.

If you’re looking to sell real estate in Oakleigh or any of the surrounding suburbs, now could be the time to verse yourself in auction protocol.

The Quarterly Review released by RP Data has revealed that throughout 2011 and 2012, auction clearance rates never breached 60 per cent.

Weekly capital city auction clearance rates for 2013 have reached an average of 62.2 per cent for the first quarter.

However, the clearance rates still remain below the levels recorded in 2009 and early 2010.

Auctioning has found a new popularity due to the alignment of buyer and seller expectations. Sellers are more willing to meet the market prices expected by buyers than a year ago.

Furthermore, the abundance of buyers in the market has contributed to an atmosphere of competition for homes throughout the country.

The report went on to state that the number of properties taken to auction is higher in Sydney and Melbourne, indicating an increase in demand for homes and units in the areas.

If you’re a homeowner looking to sell your property in the Oakleigh area, get in contact with the team at Ray White Carnegie and begin the process of selling your home today!

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