Matthew Stevens, Capita Finance Solutions talks about auctions

Property auctions in Perth

Are buyers looking at auctions?

Matthew Stevens of Capita Finance Solutions deals with more and more clients who are willing to consider options of auctions to buy property in Perth. Buying real estate at auction is not common in Perth, but we are seeing more people looking into it.

Auction is landmarked by the east coast

60% closure rate

Closure rates in the eastern state are close to 60% when it comes to selling properties at auction (data from CoreLogic auction results).

Auction clearance rates are calculated for auctions scheduled during the week ending Sunday and are based on available data using a total known number of sold properties before, at or after auction against the total known number of auction results, including passed in and withdrawn auctions. Auction clearance rates for Tasmania are reported at the State level only. Where there are less than 10 collected auction results, auction clearance rates should be considered statistically unreliable. Not all auction results are available or known to CoreLogic at the time of calculation and reporting of auction clearance rates and auction property details. *Clearance rate is presented as a weighted average.

Auction and conditions

How Capita Finance Solutions provides services to auction property buyers

Capita Finance Solutions fully assess pre-approvals up to certain loan amounts. Doing so gives the client bargaining power when negotiating the price of a property. It also gives the buyer security and peace of mind when bidding.

Win at auction

One of the main concerns when going to auction houses is overbidding. Overbidding can be the result of a lack of knowledge of the property market.

This is why we recommend using a professional buyer’s agent when buying at auction. It gives the buyer extra peace of mind and it guarantees most of the time the best outcome for the property buyer.