Auction Sales ‘Unlikely to be Hampered by Election’

If you're looking to sell real estate in Carnegie this weekend (September 7th and 8th) then there could be good news on the horizon.

According to the Real Estate Institute of Victoria (REIV), the federal election is unlikely to hamper people's chances of offloading property at auction on Saturday and Sunday.

"For the sellers that are holding their auction this weekend, they can rest assured that if past years' outcome are to be repeated, their chances of selling are not negatively affected," the organisation stated.

The comments came as the REIV revealed there will be 32 per cent less auctions this weekend when compared with last weekend.

"This reduction in auctions is in line with decreases seen in previous electoral cycles as some vendors choose to hold their auction on an alternative date," it added.

Last weekend, the clearance rate was 74 per cent from 716 auctions, while just 490 are planned for this weekend.

However, this year's performance is still expected to outmatch 2012 figures, with 487 auctions resulting in 61 per cent of properties being sold.

Even fewer houses and apartments were purchased in 2011 – just 55 per cent of auctions were successful based on 516 auctions.

Seek professional advice from Matthew Hurlston at Ray White Carnegie to make an informed decision on selling your Carnegie real estate.