Market Update

Stock remains low - gain access to the huge number of off-market properties where opportunities do exist

property auctions Archives - Page 1

What to do at auctions in the current heated Sydney market

Buying properties at auctions in Sydney heated market

Australians continue to flock the Sydney market in the hopes of buying valuable properties at auctions. Despite the COVID-19 pandemic, people still want to secure their dream home. Their eagerness to buy has helped fuel the real estate industry in the Harbour City.

If you’re looking to buy property, now’s may be the best time do so, as the market keeps rising. Auctions are an excellent place to buy the house of your choice. Or if you play your cards right, you might get it even before it reaches bidding.

Here’s how you can buy property at auctions in Sydney’s heated market.

Read More

Pre-Auction Tips: 9 Things To Do BEFORE Auction Day

auction tips

Property auctions can be a great place to acquire your next home – if you know what you’re doing.

There are many things you must know and understand before diving into this high-stakes/high-stress process.

Here are some of my best tips. You’ll find one that’s is often overlooked — but not by you — after you read this.

Read More

Should you engage a buyer’s agent for an auction?

hire a buyers agent for auction bidding success

When it comes to auction bidding, no one knows the lay of the land better than a buyer’s agent. These are professionals trained to sense the mood of a crowd and adjust their bidding strategy accordingly. They also know how to keep their emotions in check and not get themselves embroiled in an emotional bidding war.

If you’re looking to buy property especially for the first time, it’s worth having a buyer’s agent by your side. A professional buyer can help increase your chances of successfully landing your dream home. They can also minimise all matter of risks involved on auction day.

Let’s take a look at the different advantages of hiring a professional buyer’s agent for your next property auction.

Read More

8 Tips For Buying Property At An Auction in Sydney

Sydney property auction tips

Buying property at an auction gives you the opportunity to see other potential buyers and find out what price they’re prepared to pay for the same property.

However intimidating, auctions are a transparent selling method. If you know how to play your cards right, you can get the upper hand.

Let buying property at an auction work to your advantage.

Read More

How To Prepare For A Property Auction 101

how to prepare for a property auction

Most people go into property auctions hoping for a once in a lifetime bargain. Given the high level of competition for premium homes in Sydney, often the opposite is the case. So it pays to properly prepare for a property auction.

Property auctions are carried out under a set of strict rules that you will have to understand beforehand, among other things.

Here are some critical elements that you must be aware of before you start bidding.

Read More

Are FHBs Really Missing from Action?

In an article for the Property Update, Pete Wargent busts the myth about falling first home buyer (FHB) numbers. There has been a lot of talk about how the FHBs have simply disintegrated and elbowed off by the investors because of spiking prices and a rat race for properties.
Read More

Novel auction in NSW on the Cards

In an article for the website Your Investment Property, Miriam Bell talks about a novel auction that is about to be held on 14th February. The auction will be one of its kind as it will set a $1 reserve price. Neil Tyagi, owner of the Blacktown House in question feels that auctions could also be made interesting and it was only important to depart from textbooks.
Read More

What to Know When You Attend an Auction

attending an auction

An auction works quite contrarily to a private treaty. Here, you are face to face with a galaxy of competitors. Their goals may vary; someone may be looking for a home to reside and another for an investment and still another for a ‘quick flip’ but they are all out there to buy.

It is crucial to know as much about the auction process as you possibly can. Let’s take a look.

Read More

Sydney Auction Clearance Rate Reaches Boom Time High

Sydney’s auction clearance for this Saturday has brought back memories of ‘boom’ time. Standing at 76.3%, the clearance rate has been the highest recorded in last few years.  Inner West Sydney has been the winner with 83% clearance. A few believe that such an activity on the Prestige Market is the result of optimism in the stock market. Others are talking about the mortgage rate cuts as the prime reason for buyer response. Six Chinese buyers fighting over a Vaucluse property and bidding in excess of $5 million is a hearty sight. The prestige market has not been moving for some time now and 8 properties selling at more than $2 million each looks like a worthy change.

Derby Street auctioneers held five auctions including the Vaucluse property. Of them, two sold even before the auction and remaining went over the reserve bid. This fresh energy in buyers may also be because of visa changes. The changes aim to provide quicker entry to the foreign nationals holding property worth $5 million in Australia.

You can read the full article here.

Do you think the Prestige Market will rally even further?