The Auction Advantage:
The Auction Process provides vendors with a valuable guide to what buyers may be prepared to pay for your home in an evolving market.
Auctions are an extremely effective method of sale, with droves of emotional buyers have pushed prices to record highs. As the market evolves, auctions continue to remain a useful way of finding where the market sees value in your home.
3 Donatello Street, Fig Tree Pocket – Going to Auction this Saturday 25th Feb 9:00AM Onsite
An auction proves to buyers that a vendor is very serious about selling. The feedback a vendor receives throughout an auction campaign not only provides valuable information on buyer interest, but it also provides a direct understanding of the realistic sale price.
Auction clearance rates across Brisbane are currently at 58%, trending lower than February 2022. With seasonal and economic factors to play into these figures, auction clearance rates don’t account for the properties that sell post auction, which usually sell within 14 days after Auction, when negotiations with top bidders continue to reach a deal. The current clearance rate for properties selling 14 days post Auction are at 78%.
22 View Street, Paddington – SOLD for $4,600,000 by Jason Adcock & Gerard Sherlock.
The Auction of 22 View Street, Paddington shows how valuable an auction is. The property passed in at auction for $3,900,000, and sold 48 hours later for an astonishing $700,000 more at $4,600,000. The auction had over 70 auction attendees and 12 registered bidders.
118 Reeve Street, Clayfield – SOLD for $4,660,000 by Jason Adcock & Elisa McMahon
118 Reeve Street, Clayfield, which went to Auction late January had 15 registered bidders, 5 of which registered just moments prior to the auction commencing, after only 1 viewing of the home – that day. Following a 17-day high-profile auction campaign, the property sold under the hammer for $4,660,000 by Jason Adcock and Elisa McMahon.