There has been clear evidence this year that demand for residential investments at auction hasn’t dropped away like many pundits previously suggested. Property auctions have proved popular across the investment spectrum, from high-value residential and mixed-use investment land sites, to the first and second-time buyer markets. An influx of landlords, and first-time buyers have entered auction rooms this year as the benefits of the process are clear.
Property auctions are recognised as a secure, and fast way to either sell a property on the market or find your dream home. The process is straightforward: an immediate exchange of contracts takes place inside the auction room, with all terms and conditions provided, as well as an agreed completion date; a contract is binding from the moment the gavel hits the block. The transparent system is particularly popular for those living in, or looking for, highly-competitive property areas where homes are snapped up quickly, and gazumping cases are frequent.