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Adelaide auctions continue to thrive

15 Jul 2014 Christies Beach 0 Comment

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When you go in search of real estate tips, you’ll no doubt soon realise there are various ways of being able to find your ideal property.

You might decide to head online and browse local listings, look in your local paper or perhaps even try your luck at auction.

Adelaide has seen a rise in interest for its auction listings, as it recorded a clearance rate of 75.6 per cent during the week ending July 6. This was up from 62.7 per cent in the previous week.

The figures released by RP Data show a national clearance rate of 69.4 per cent, indicating that Adelaide’s auctions are proving more popular than in many other parts of the country.

National data points to a rise in auction clearance rates over the past year as well. In both 2012 and 2013, a clearance rate of 63.2 per cent was recorded in the year to date.

However, in 2014 it currently stands at 67.3 per cent, so if you are hoping to find your perfect home through auction you could be up against some strong competition.

With the winter months setting in, only time will tell whether these positive figures can continue.

These findings come shortly after the release of the June RP Data Rismark Hedonic Home Value Index, which pointed to a 0.7 per cent decline in Adelaide property prices.

Buyers can now expect the average cost of a property in the South Australian capital to stand at $400,000, which is notably lower than the $690,000 recorded in Sydney and $560,000 in Melbourne.

This is a break from the national trend, as capital city dwelling values posted a month-on-month rise of 1.4 per cent. Adelaide and Darwin were the only locations to have registered a fall.

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