Adelaide doesn't traditionally have a lot of home sales made by auction compared to Melbourne or Sydney, but we have had strong improvements in auction numbers in recent weeks,
According to the weekly RP Data Property Pulse, Adelaide ran 82 auctions last week – that's an increase from 71 this time last year, showing a slow rise in interest in this exciting way of buying a home.
Auctions were responsible for 10.7 per cent of all home sales between February and May in Adelaide, so while not the majority, they do form a significant part of the market. Here at Ray White we run auctions most weeks, so if you're interested in an exciting way of getting real estate in Adelaide you should contact us!
Overall, there were 2,281 auctions scheduled for Australia for the week of 25 August, with 1,854 of those in capital cities. That's the largest number of auctions in Australia in eight weeks and this figure is set to rise, so we may see even more homes going under the auction hammer in Adelaide over spring – great news if you're looking for a change of property this spring.
If you have never been to an auction, they are worth checking out for the thrill alone. You don't have to partake, but watching passions flare and dreams come true is satisfying on its own. Auctioneers are also relentlessly entertaining, working the crowd with their showmanship and engaging people. Just make sure you don't get caught up and join the bidding yourself if you aren't ready.
Talk to one of our agents if you are thinking of heading to auction, to ensure you have a set budget – it is important to bid with your head, otherwise your heart might run away with your wallet!