Despite Perth house hunters out in force and sellers reaping the gains of a red-hot market, the number of homes sold at auction still accounts for less than half of 1 per cent of sales, new data shows.
The latest Domain Group auction data has found the number of auctions in September in Perth was 65, with just 0.2 per cent of houses and units sold under the hammer.
Despite Perth house hunters out in force and sellers reaping the gains of a red-hot market, the number of homes sold at auction still accounts for less than half of 1 per cent of sales, new data shows.
The latest Domain Group auction data has found the number of auctions in September in Perth was 65, with just 0.2 per cent of houses and units sold under the hammer.
During that period, auction clearance rates for houses were 38.5 per
cent, and 10 per cent for units, Domain data has revealed.
In comparison, during the same month, Sydney had 2365 properties sold at auction, which was 32 per cent of the total number of properties sold. In that time the clearance rate was 79 per cent, which was the highest recorded since 2013.
Domain chief of research and economics Nicola Powell said that, historically, private treaty was the preferred method of sale in Perth, with 0.8 per cent of sales in July via auction.
She said Perth’s auction clearance rate had been steadily rising since July 2020, coinciding with the Perth market boom.
In the seven months to July this year, three of those months recorded a clearance rate of more than 50 per cent compared with the first seven months of 2020, during which the highest clearance rate was 21.1 per cent in March 2020, Domain data reveals.
Source From: Domain.com.au
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