With the number of auctions in regional NSW and Victoria on the rise, and healthy clearance rates recorded across the county, sellers and agents continue to view it as a quick and transparent way to sell property.
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According to CoreLogic, auction activity across Australia's regional markets is set to rise 15.2 per cent with 266 homes set to go to auction this week, from Saturday, up from 231 last week.
"Regional NSW and Regional Queensland are set to host the bulk of regional auctions this week, with 130 and 106 auctions scheduled, respectively, followed by regional Victoria with 16," CoreLogic economist Kaytlin Ezzy said.
"The previous week saw 100 homes auctioned across regional NSW, and a clearance rate of 49 per cent was recorded.
"In regional Queensland 51.8 per cent of the 84 auctions held last week recorded a successful result, and 21 of the 39 auctions held in regional Victoria were successful."
Ms Ezzy said given the relatively small number of properties auctioned, activity and clearance rates across these markets tend to be quite volatile.
She said most properties are sold via private treaty in these areas, so the clearance rate may not fully represent market activity or sentiment.
Elders Real Estate Dubbo's Adam Wells said there are still plenty of buyers in Dubbo "wanting to secure properties in a transparent manner" via auction.
"Finance is still an issue for buyers having to have approvals before auctions," he said.
"[However] if we can work with buyers, and their brokers and banks, we're seeing outcomes being generated.
"If they're not done under the hammer, they're generally done one to two weeks after the auction date."
Ray White Albury North's agent Andrea Lever agreed that auctions are a great way to get a quick outcome for the seller.
"The days on market are less compared to private treaty, so even if they don't sell on the day, 90 per cent of them will sell within 10 days of the auction," Ms Lever said.
"[However] If it can be sold at auction, and that gavel goes down, we've got an unconditional contract.
"Auctions are a lot cleaner and safer for the vendor and for the purchaser it's good because it's transparent so they can see exactly what someone else is bidding instead of wondering if they're offering enough"
She said houses with auction guides of around the $400,000 to $500,000 mark are always in hot demand in the Albury area, particularly with first-home buyers and investors although there's still a strong market for exceptional properties priced over $600,000.
Raine & Horne Bathurst's Grant Maskill-Dowton said auctions remain a good way to sell property in the Central West.
"One of the major benefits of an auction is from a vendor's point of view it has an end-date to work towards," he said.
"It also applies pressure on the buyer to act in a timely manner and ideally leads to an unconditional result on the day."
He said when properties don't sell on the day most sell shortly after with the seller having been able to listen to auction feedback and understand where their property may sit in the current market.
Here's a look at some of the top properties heading to auction from Saturday.
Agent: Fitzparticks Wagga's Paul Gooden.
Auction: Saturday, May 20, 10am.
Auction guide : $650,000 to $700,000.
This property may be suited to a buyer trying to purchase their first home in the popular central Wagga market.
The four-bedroom, two-bathroom house could be upgraded however it's located in a quiet street and already has tenants who will stay on.
The house sits on a 695.6 square-metre block which has plenty of room to expand the home, and also has parking for two vehicles.
9 Yuille Court, Dubbo
Auction: Saturday, May 20, 10am.
Agent: Elders Real Estate Dubbo's Adam Wells.
Price guide: Early to mid $700,000s.
This five-bedroom, three-bathroom home sits on a 778 square-metre block not far from Dubbo Golf Course.
The house would suit a large family or those who like to entertain as there's a large upstairs deck with views over the area.
The home also has two living areas, air conditioning, gas heating and parking for two vehicles.
41 Liverpool Avenue, Ettamogah
Auction: Saturday, May 20, 11am
Agents: Taya Zanardo, Nicholas Clark.
Price guide: $1 million.
About 15 minutes from the heart of Albury in the Ettamogah Rise Estate, this luxury single-level home would cater to a large family.
Set on a 1,507-square-metre block there is a large open-plan family and dining area and an adjacent theatre room, children's games room, and parents' retreat.
The main living area connects with the outdoor entertaining area, with an alfresco dining area and landscaped gardens and in-ground pool and a large shed with a sauna and additional space to park vehicles.
Other features include an ensuite, a separate parents' retreat area and a study that can double as a home office or sixth bedroom, ducted reverse-cycle heating and cooling as well as solar power.
850 Toolamba Road, Toolamba.
Auction: Saturday, 20th May 20, 11am.
Agent: Kevin Hicks Real Estate's Paul Durden.
Price guide: $450,000.
This four-bedroom brick-veneer house, with an additional study, is set on a 3305 square-metre block.
The property includes a kitchen/dining area and a separate lounge area.
In addition to the family bathroom there's also an ensuite off the main bedroom.
Other features include a split system and a wood fire while outside there's a detached garage and carport.
Located in Victoria's Goulburn Valley, Toolamba is about 181 kilometres north of Melbourne.
27 Orchard Way, Lavington
Auction: Wednesday, May 24, 3pm.
Agents: Ray White Albury North's Andrea Lever, Chloe Hayden.
Auction guide: Over $650,000.
This five-bedroom, two-bathroom home, which is an eight-minute drive to Albury, would suit a family in need of some space.
The main bedroom has a ceiling fan, walk-in-robe and an ensuite with a dual vanity and a view from the shower overlooking the property's fernery.
The house sits on a 799 square-metre lot with three living areas, including a sunken lounge room with split systems and ceiling fans.
Other features include 12.9kw solar panels and three-phase power, zoned electric floor heating, a secure yard and shed, automatic gates and an undercover alfresco area and is close to Lavington Sports Ground, the Lavington Square shopping precinct, schools and Heathwood Park.
The rental estimate is $650 per week.
The Lindens, 227 William Street, Bathurst.
Auction: Thursday, May 25, 1pm.
Agent: Raine & Horne director Grant Maskill-Dowton
Auction guide: $1.5 million.
Known as the Lindens, the four-bedroom, three-bathroom house was originally home to James Rutherford, a partner in the Cobb & Co transport company who moved to Bathurst and settled his family into the home 1864.
Over the years the double-brick house has had many upgrades, with a pool installed, the roof replaced, a bathroom renovated and a granny flat was incorporated into the main house.
Sitting on a 885 square meter block, the house has elevated view, established gardens and is a short walk to the heart of the CBD and close to parks and the Bathurst campus of Charles Sturt University.
Tracey Prisk
I am a writer on the national property team and I cover real estate news in Orange, Bathust, Dubbo, Wagga and the Blue Mountains. I was previously the editor of the Central Western Daily for six years and before that worked as the CWD's chief of staff. During this time I also wrote feature stories for Country Style magazine. Before joining ACM I was a film writer and reviewer at the Sunday Telegraph. I was previously the editor of the film and television magazine Encore and also wrote for Broadcast Engineering News.
I am a writer on the national property team and I cover real estate news in Orange, Bathust, Dubbo, Wagga and the Blue Mountains. I was previously the editor of the Central Western Daily for six years and before that worked as the CWD's chief of staff. During this time I also wrote feature stories for Country Style magazine. Before joining ACM I was a film writer and reviewer at the Sunday Telegraph. I was previously the editor of the film and television magazine Encore and also wrote for Broadcast Engineering News.
