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By Tim Neary
November 19, 2010
While there is a growing trend to sell properties at auction, vendors should be realistic with their reserve prices and have a back-up plan in the event the auction goes unrequited.
This is the view of RP Data's Cameron Kusher, as auction clearance rates across Australia continue to trend downwards - as they have since mid-April already.
Yet, in spite of there being fewer buyers, more properties, falling clearance rates and slowing levels of growth the volume of properties going to auction has still been substantial, according to a report in The Adviser.
To address the question of why people still take their properties to auction in spite of the fall away of its success, Kusher said "with more stock now available, it may be the case that more vendors will look at alternative selling methods".
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