Perth sellers looking for a fast sale for their property should look to auctions, with new reiwa.com data revealing that auctions in the metropolitan region achieve quicker sales.
REIWA President Hayden Groves said although the percentage of Perth vendors choosing to sell by auction was a small part of the market, this method was gaining popularity because of the visibility of auctions on mainstream television.
“Auctions are becoming more familiar to West Australians, and Perth sellers are increasingly more open to this selling method. While private treaty remains the most common way to sell a property in Perth, auctions did hit a 15 year high in December 2015, with 3.1 per cent of all sales in the metropolitan region happening under the hammer.
“This figure did dip in January due to seasonality, but recovered quickly and was back up to 2.9 per cent in March,” Mr Groves said.
reiwa.com’s analysis found that sellers who go to auction are more likely to sell faster than those selling via private treaty.
“The average selling days for auctions decreased steadily last year with each passing quarter and it is now 26 days faster to sell by auction than private treaty,” Mr Groves said.