Property market update: Perth, May 2022
Perth continued to outperform its bigger capital counterparts in May, as the city closed up the autumn season with a sol...
Auction clearance rates in Perth have reached 54 per cent as properties in the area continue to climb in value, according to Raine&Horne.
Figures from RP Data-Rismark show that homes in the city climbed by one per cent in May, making it the only capital city in the nation to register positive growth.
The city’s auction clearance rates have now pushed it above those of Brisbane and Canberra, indicating that selling by auction is gaining traction in.
Raine&Horne’s Western Australia state manager, Phil Hayes, said interest in auctions is rapidly rising.
“Our offices are reporting a surge in auctions in recent months, as WA homeowners turn to auctions as a tried and true method of achieving the best price for their homes,” said Mr Hayes.