Buying property is a rite of passage for most Australians. Owning a home with your family and settling down is the dream of many across the nation, and now could be the time for you to follow suit and secure a slice of Belconnen real estate.
If you're looking into the market, chances are you'll find yourself up against other buyers in an auction situation. In fact, recent stats from RP Data show that Canberra has seen a growth in the number of auctions being pursued over the last 12 months. For example, last week (25 July) saw 37 auctions scheduled – up from 29 auctions during the same week last year.
Approaching an auction can be a stressful time for anyone inexperienced with the process. One thing to remember is that you'll be directly competing with people around you, which can lead to an atmosphere of aggression.
However, keeping your cool and thinking rationally will be the key to success. One thing to consider before approaching an auction for a home you want is to simply pop along to some random ones in order to get a feel for the process and how they proceed.