Beach & Bay’s Real Estate Blog

The local auction rate plummeted last week with 2 out of 12 properties selling or less than 20%!
The Sun Herald’s Sydneywide clearance rate was also down from just over 50% to 42.7%

Don’t forget to bring the correct ID for registering to bid at an auction.
Several times we have had to deny registrations or the buyer has had to make a quick dash home to get the necessary documentation.
Most importantly, your ID must be issued by a government or financial institution and it must show NAME and [...]

We ended the winter school holidays with a clearance rate of 37.5% compared with Sydneywide of 51.2 % (Sun Herald figure).
Although the auction clearance rate has dipped in recent weeks, there has been a significant increase in auctions scheduled in our area over the coming months.
Just because a property doesn’t sell at auction the campaign [...]

AUCTION KNOWLEDGE CONTINUED
The auction clearance rate in our area dipped last week to 33% compared with The Sun Herald’s Sydneywide figure of 53.6%.
THE VENDOR BID IS NOT THE RESERVE PRICE
The reserve price by definition is the minimum sale price the vendor will sell for at auction. The price is set by the vendor and it [...]

Well last week was a quiet week with only 2 properties up for auction. 1 sold prior and 1 was cancelled on the day.
AUCTION KNOWLEDGE
Did you know that the auctioneer may make 1 vendor bid (and only 1) vendor bid at an auction for the sale of residential property on behalf of the seller. The [...]