Friday, March 27, 2009

Real Estate Mega Auction in WA

An interesting think happened today. In Perth's Sheraton Hotel, 17 properties sold in less than four hours for a total of $6 million but another 28 didn't get any attention. The Golden Ballroom hosted the Ray White Auction Spectacular which also led to many other properties entering negotiations with price tags discussed over $1 million. 

The cheapest property sold under the hammer was $193,000 for a block in High Wycombe. 

The most expensive was a house in Wanneroo, which sold for $1.3 million. 

An interesting statistic is that in Australia 53 per cent of properties have sold either prior to auction or under the hammer. Would you buy a property in the heat of an auction?

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