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Melbourne Auction Sales Break Previous Records

By Matt Hurlston

With Melbourne auction sales reaching new heights, you may be inspired to make a bid on real estate in Carnegie.

The weekend of October 26-27 delivered record breaking results as a massive 797 properties sold under the hammer on Saturday alone, according to the Real Estate Institute of Victoria (REIV)

Also outpacing expectations, the value of real estate sold exceeded the previously unmatched maximum, with over $914 million worth of property sold at auction over the same weekend.

If you're heading to auction during this season, here are a few tips on how to correctly bid on your desired Carnegie real estate.

Make sure you have a plan in place before arriving at the auction, including when to start bidding and what price you will pull out.

When you've decided the maximum you are willing to spend, stick to that figure. It's important to not let emotions sway you into making bids you cannot meet.

It's a good idea to position yourself where the auctioneer can easily see and hear you, to ensure your bids aren't missed.

If the vendor's reserve price is reached, the auctioneer should announce that the property is 'on the market'.

For more information on bidding on an auction, contact real estate professional Matthew Hurlston at Ray White Carnegie today.

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