As quoted by the Inner West Courier, one of our expert agents Fiona Hellams had this to say for 2016:
“The auction market in 2015 kicked off strongly. It continued its momentum from 2014 with most properties sold prior because the owners were happy with the result.
I auctioned all of my properties in 2015 and was consistent in selling al but one under the hammer, with a 96% clearance rate. The inner west market at its pear was 88%. Toward the end of the it had plummeted to 57.5%.
One of my standout auctions was at 30 Rickard Street, Five Dock, the highest sales of a semi in Five Dock. With all of our expectations around $1.7 million, the property sold for $2.06 million. This result could not have been achieved without the auction method.
I personally would always auction properties. If an auction campaign is run well, it can work in all markets especially a changing and tougher one.
I am excited about 2016. There has been speculation and negativity, but I am looking forward to kicking of the year with positivity. I believe this will be the year of the upgrade, with properties achieving great prices. Families will be able to sell and afford to upsize with the top end of the market being more affordable”.