Investors are always looking to add to their portfolios, but the problem is finding the right home for the right price. Data from CoreLogic shows that auction volumes for listed properties were up across the capital cities at the end of August, which means there are more options on the market.
Investors of strata properties might be able to find a bargain with higher volumes of homes listed, especially with the right auction strategy.
How much have auction volumes increased?
The CoreLogic report states that in the last week of August there were 2,239 homes listed for auction, with a clearance rate of 71.1 per cent. That’s the highest volume of homes since the start of June, and is an increase in clearance rate on the previous week (2,064 auctions at 69.8 per cent for 19 August).
More homes to sell translated to better results for sellers, as even with more home on the market, more home sold. On the flipside, it also shows that sellers are going to market wanting to shift their properties, which could be good news for any investors looking to pick up a bargain. Throw your hand up for a property that interests you, because the seller might settle for your bid in the current climate.
For more information about buying at auction and going into the room with the right strategy, get in touch with your Civium Property Manager. We’ll help you to expand your portfolio!