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McGrath Estate Agents has said that all of its 56 exclusive eastern seaboard auctioneers have a full dance card in the lead up to Easter, as the last of the March campaigns are finalised ahead of the season’s auction schedule.
Chief auctioneer Scott Kennedy-Green said that activity levels are noticeably on the increase.
“Last year, the industry continued to experience unusually low volumes that became the norm since the beginning of 2016,” Mr Kennedy-Green said.
“However, we’re seeing the tide has turned with respect to auction numbers as we approach the two Super Saturdays in March 2018.”
Mr Kennedy-Green said that scheduled auctions across the McGrath network are up by 34 per cent to 739 against the corresponding period in 2017, with Sydney metro up by a full 41 per cent to 497.
He said that of the two Super Saturdays in March, the second on the 24th will be much busier, with scheduled auctions up by 52 per cent to 237. There are 188 auctions scheduled for March 17.
Senior auctioneer and general manager of company-owned sales Adrian Bo said that he is experiencing a renewed confidence in the auction method of sale.
“I believe there is a shift in how people view auctions. They are seeing them as a process to sell rather than an event on the day.
“Many view auctions as a hybrid of private treaty and auctions, as now more than ever, a sale is often transacted before, during or after.”
Mr Bo said that there seems to be a “general realisation” in the market that now is a good time to transact, whether as an owner-occupier or investor.
“Anecdotally, downsizer’s homes have seen huge capital growth over the past few years, and with the market plateauing, they see a more stable environment to sell and make that move into an apartment, or make that sea/tree change.
“Being back to more normalised levels is healthier for our clients whether they’re a vendor or a buyer. It’s a fairer and more balanced environment and good for the property sector in general.”
