Those property owners who chose to press the button and auction properties through BradfieldCleary early in the 2018 auction year cycle were rewarded handsomely last night when all seven of the properties submitted were sold.  In addition two had been sold prior to auction and the previous week at our first February auction a Nelson Street, Woollahra unit was knocked down over reserve.  So this year to date all our auction properties have sold. 

What does this tell us?

In our view the 2018 property market is stronger than it was in the final quarter of 2017 and prices have stabilised at worst.  In fact we forecast a gentle (2-3%) increase for the year ahead. 
 

As you can see from the list of properties sold there was strong demand across all sectors from one and two bedroom units to townhouses and houses.  The totally unrenovated terrace in Glebe brought 15.2% above reserve!

While our results were certainly solid the market seems very fairly poised between buyer and seller.  Success at auction will depend to a large extent on the quality and expertise of the agent you select. An experienced agent will be able to interpret the mood of the market in relation to a property and advise accordingly.

With a number of qualified under-bidders it may be prudent to call us to discuss the sale of your property.