How to navigate change in a choppy property market afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Hot auction market shows signs of easing afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Top tips on winning a real estate bidding war
Strategy can outmanoeuvre buckets of cash in real estate property sales.
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Delivering the knockout bid in tightly fought residential auctions sometimes requires tactics as much as money, say veteran property buyers.
A bucket of cash will win seven times out of 10, they claim. But for other auctions, the winning mix will be a combination of style, guile and savvy use of a smaller pile of savings.
‘You need to assert confidence, put the other bidders off their game and be ready to apply some intimidation,” says Cate Bakos, a buyers’ agent.
Auction clearance rates dip as housing boom slows
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Auction clearance rates dipped slightly in Sydney and Melbourne over the past week in a sign that the record-breaking housing surge may be slowing.
In both capital cities, lower auction clearance rates were recorded even though there were fewer homes listed for sale compared with a week ago.
This two-bedroom apartment in St Leonards sold $161,000 above the reserve for $1.656m
Sydney recorded a preliminary auction clearance rate of 82.1 per cent across 777 auctions, compared with last week’s preliminary figure of 84.8 per cent, later revised down to 81.5 per cent, according to CoreLogic.