No Better Time to Sell by Auction
There has never been a better time to sell at auction, with new data showing homes sold under the hammer in Brisbane can fetch at least $200,000 more than those sold privately.
The data from realestate.com.au reveals properties sold at auction deliver higher prices and spend less time on market than those sold via private sale.
It comes as agents say Brisbane homeowners thinking of selling should do so now, with low stock levels pushing sale prices up.
With spring selling season just around the corner, agents are crying out for more property listings to meet buyer demand, with the latest figures from SQM Research showing new listings in Brisbane were down 1.9 per cent in July.
The realestate.com.au research shows properties taken to auction in metropolitan Brisbane sell for $54,800 above the asking price, on average, compared to only $12,800 more through private sale.
The data also reveals properties that go to auction in Brisbane sell in less than half the time (33 days) of properties that are put on the market for private sale (83 days).
And the average sale price of a home sold at auction in metropolitan Brisbane is $229,000 more than one sold privately, with an auction sale of a house or townhouse fetching $832,038 on average compared to $602,778 achieved through a private sale.
Realestate.com.au chief economist Nerida Conisbee said that in recent weeks, clearance rates had increased, interest rates had dropped, and buyers were back, signalling increased confidence in the auction market.
“There’s no better time to sell by auction,” Ms Conisbee said. “We’re in really unique conditions where listings are so far down that sellers would have the market to themselves.
“Buyers are back in a big way, creating increased competition, and we know that properties that go to auction return better results for sellers, and on average are sold in half the time of those listed for private sale.”
“We know the buyers are back and the market is changing rapidly, so sellers should get in now to name their price while stock levels remain low,” she said.
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The above information has been sourced from Realestate.com.au. To read the full article CLICK HERE.