Buyers are entering the market with more confidence: Damien Cooley

Exciting times in the real estate market are upon us.

Buyers have entered the market with more confidence, agents are reporting record months, auction clearance rates have increased and talk of real estate is back on the agenda for many.

The biggest shift we are witnessing at the moment is an increase in the volume of buyers inspecting properties and the number of registered bidders.

In February this year we averaged 3.2 buyers registering for each auction and one property (16 Coventry Road, Strathfield) received an astonishing 14 people registering to buy the home.

But buyers are still cautious. They are still looking for value and are not getting carried away with unrealistic seller expectations.

So where do we see all this going? Easter is only weeks away and the run into the Easter period will provide a huge volume of auction activity.

We see this activity continuing to build momentum throughout Autumn and the winter months.

The biggest challenge right now is bringing sellers to the market and getting them to list their home.

It is a great time to be selling with less competition from other properties. Houses up to $1.5 million are still the most in demand.

Auctions are increasing in popularity as a method of sale with vendors recognising the clear advantage of creating a competitive environment and the potential for achieving a premium price.

Damien Cooley is the founder of Cooley Auctions.