Clearance rates slowly improving
June 25, 2012 Leave a comment
With auction clearance rates starting to improve, what is the most effective sales strategy in the current market auction or private treaty?
Sydney’s auction clearance rates are slowly improving, running higher than they were during the second half of 2011, new figures show.
Clearance rates averaged 51.9 per cent to date, compared to 50.2 per cent over the second half of last year.
Locally, these rates are stronger, hitting 66.67 per cent for the first weekend in June within the Northern District Times’ distribution area, according to RP Data.
Tony Jasprizza, of First National Eastwood, said auctions tended to make a resurgence in a sluggish market.
“A set price can act like a red light and people just stop,” Mr Jasprizza.
“We are finding that auctions generate wide interest from a wider price range and people seem more comfortable making an offer and testing the waters.”
Source: Northern District Times, Sydney, 13 Jun 2012