House auctions gaining popularity

REAL estate agents in the Tweed are expecting an increase in auction sales in coming months.

LJ Hooker Kingscliff property consultant Kathie Espley prepares for auction. Picture: Blainey Woodham

REAL estate agents in the Tweed are expecting an increase in auction sales in coming months.

Property group LJ Hooker was predicting a strong level of activity during the spring auction period, driven by stable interest rates.

According to RP Data, property auctions have enjoyed an increase of 17 per cent across the nation.

LJ Hooker Kingscliff principal Paul McMahon said that from his perspective, the auction market was progressively growing stronger in the Tweed region.

“This year, 85 per cent of auction properties have sold before, at or after the auction for us,” Mr McMahan said.

“Its better to hold the auction when the property is fresh, but you can do it at either time.”

North Estate Agents principal Mark Humphries said auctions could be a good selling tool for some Tweed residents.

“The auction process is extremely productive for people who are highly motivated to sell, that is people who may have purchased another property and are waiting to move and people who are moving interstate,” Mr Humphries said.

“My advice to people wanting to auction a property is ensuring the expected price is realistic and known.

“Buyers in this market place have become very savvy.”

Property consultant at LJ Hooker Kingscliff Kathie Espley said the auction market was getting stronger.

“The more information people had about auctions the better off they were,” she said.

“Selling through an auction is absolutely a good idea.”

“I think the auction market is getting stronger”

Originally published as House auctions gaining popularity