There are a number of pros when it comes to selling Australian property at auction, Your Investment Property Magazine has claimed.
It states auctions are not ideal for all properties, but that high-quality, inner-city houses and apartments still do well when sold in this way.
Property that does not manage to be sold at auction should not be viewed as a failure or undesirable, the magazine states, as it will often have generated interest and will attract offers afterwards.
Another benefit of selling at auction is that it can often lead to a quicker transaction.
The magazine explains that the deadline of a four-week auction campaign can force buyers into make a decision more quickly than a private sale would.
Back in March, Greville Pabst, a valuer at WBP Property Group noted that the average clearance rate across the 2,925 auctions that took place in Australia in March was 63 per cent.
Posted by Craig Francis
