Welcome to the October edition of “The Hammer Report”.

October was a powerful month for auctions not only with the number of properties o ered for auction in the market place but also the level of activity in relation to the number of inspections and bidders around the auction days reaching levels not seen this year.

Bidders were out in force in October with the average number of bidders per auction at two or three which not only helped achieve some very strong sale prices but showed buyers are getting themselves into a positon to bid under auctions terms, a trend that has gained strength this quarter.

The cross section of properties o ered in October from development sites, apartments, multimillion dollar homes, rst home owner market and land sub divisions clearly indicated the acceptance of auctions across all sectors.

The clearance rate within the 35 day period was brilliant at 81% and given the value of properties o ered for the month was in excess of thirty ve million dollars, benchmarked against the industry average of 65 days auctions continue to provide a tangible advantage to sellers.

Currently in the Perth market there are 14,948 properties on the market with 9277 houses, 3179 units and 2492 blocks of land* which only highlights the need to lift a property above all others to become rst choice and auctions are the only acceptable and transparent method to achieve this result.