Ray White WA CEO Mark Whiteman said the group’s three Auction Spectaculars this year had been so successful plans were now underway for an even bigger event to be held at the Perth Convention and Exhibition Centre on December 13.

Mr Whiteman said Ray White was confident of listing 100 properties at the fourth of its trademark Auction Spectaculars, which are now regarded as the most open and transparent property negotiation process in Western Australia.

“The value of auctions as a method of sale in WA has continued to grow in stature and the Ray White Auction Spectaculars have been trail blazing events,” he said.

Mr Whiteman said the latest Auction Spectacular at the Perth Convention and Exhibition Centre on September 5 was attended by around 300 people and resulted in a clearance rate of well over 62 per cent.

“There were 32 properties put up for sale and the clearance rate on the day was around 50 per cent with many properties later sold following negotiations,” he said.

“There was an expansive range of properties submitted for sale ranging from palatial waterfront homes in Point Bouvard, character houses in Victoria Park and Cloverdale, mixed zone homes in Perth as well as units and vacant blocks.”

A development site in Landsdale achieved the highest sale price for the day of $3.9 million. Many properties sold for well above the reserve price including a Rivervale home which attracted 22 bids and sold for $51,000 above reserve.

“In the current market there are plenty of buyers and the number of properties available is drying up substantially,” Mr Whiteman said.

“This presents a real risk for sellers that they may be underselling. Auction is the only way to ensure that you have achieved maximum price and haven’t under sold.”

To view a list of Perth Auction Property, visit Ray White Auctions.