went to a auction today to see how the market was in the area ( bullcreek - southern suburb of perth ) the house was presented extremly well and the agent was talking mid 800k , weeks before the auction date.
There were approx 45 people at the auction , no bids were put in , so the auctioneer used his vendor bid to start at 700k , but there was no other bids....
he then said that he was again going to use his vendors bid at $810k and passed it in ?? as there was no bids.
I am looking at buying a property in the future , but what this auction told me was that no one is interested at buying at the current asking price , so i will keep waiting to see where the market is going.
Has anyone else had experiences of late in the perth market ?
Cheers
Ag
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