Around Australia, property auctions have enjoyed very buoyant conditions with more than 70 percent of auctions selling under the hammer week on week for the last 15 weeks running.
The number of auctions held across Australia has increased consistently since the first week of August when just 817 auctions were held. The number of auctions scheduled for this weekend is set to be one of the largest, with 1,670 auctions scheduled.
For those buying a property at auction, it can be difficult to know how much to bid, which is why doing your due diligence is of the utmost importance. There are a variety of options available to gauge the value of a property including researching comparable recent sales or obtaining a valuation on the property.
Source: RP Data Property Pulse