If you are a first time buyer, moving home or thinking of putting your home up for sale it is very important auction results that could influence your decisions. Studying these results will give you the insight into the value of properties and the current markets. Here at Pierre Finance we are always researching the market so we can offer you the best advice and guidance for when the time is right for you to get that home loan.
Whether you are buying, investing or simply checking out the value of your current home keeping up to date after a weekend of auctions and performance is a clear cut way to gauge the market. Each suburb has it’s own unique performance results which is essential for anyone who wants to research the property market.
You need to study the amount of properties that sell before the auction, during and after. Also how many auctions in each state and the clearance rates and those that didn’t sell. All this data is relevant to your decisions. It is good to know what the house down the street sold for, and also where people are investing. It does take a bit of time but once you get in the habit you can keep a results and performance document so you can easily see the patterns emerging.
Here are some examples of the information you can easily retrieve.
- In Queensland there were 129 property auctions this weekend with a clearance rate of 51%.
- 10 properties sold before the auction, 32 sold at auction
- 35 passed in
- 6 were withdrawn
- 0 sold after the auction
Each individual property, town and street number will be listed.
So, in Alderly number 30 Kate Street, a house with 4 bedrooms sold before the auction at $732,500.
In New South Wales there was a total of 995 auctions with a 78% clearance rate,
- 181 sold before the auction and 473 at auction
- 138 passed in
- 48 withdrew
- 5 were sold after
In Abbotsford suburb a 2 bed unit was sold for $760,000 prior to auction.