Property Managers

Coronavirus drives spike in auction withdrawals, reducing clearance rate to 47 per cent

Prime Minister Scott Morrison’s decision to ban on-site and in-room auctions caused a major disruption for sellers this week but it failed to halt transaction activity as agents adapted with online auctions and private treaty sales.

Preliminary data from CoreLogic revealed the weekly auction clearance rate for Sydney auctions was 47.3 per cent, down from 58.8 per cent the week prior, with the majority of properties that failed to clear reported as “withdrawals”.

Many of those properties reverted to private treaty sales, with early indicators suggesting at least 400 of the nearly 1260 auctions originally scheduled for the week shifted

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Coronavirus real estate: how to bid at a digital auction

Harcourts Rata & Co auctioneer Tony Lombardi knocking down 16 Sherwood Drive, Thomastown, on Anywhere Auctions.

Melbourne’s auction market has gone digital since sending homes under the hammer publicly and in boardrooms was temporarily outlawed amid the COVID-19 pandemic.

Auctioneers are rapidly adopting purpose-built streaming and bidding platforms, as well as video conferencing apps, as a result.

Only a small proportion of the 1464 Melbourne auctions originally scheduled this week went ahead digitally, with the others switched to the private sale method or hastily sold.

But Anywhere Auctions managing director Garry Giritharan expected bigger volumes of online-only auctions over the

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Family friendly Lane Cove home offers style, space and tranquillity

Family-friendly – 32 Northwood Rd, Lane Cove.

Don’t be put off by the Northwood Rd address of this Lane Cove home – the orientation, entertaining and the garaging are all at the northerly rear of the property.

Stevenson St is a small access road that serves fewer than a dozen houses and doesn’t even appear on official maps.

MORE: Trial run comes at opportune time

Coronavirus spurs new approaches

You drive into the property from Stevenson St into a wide drive and a double automatic garage. The actual address is 32 Northwood Rd.

The tri-level home is orientated to

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Six Knox sellers find buyers in last-minute auctions before ban

24 Cinerea Ave, Ferntree Gullywas a private on-site auction with only bidders allowed at the property on March 25.

There were six lucky sellers at on-site auctions in Knox as the hammer came down on public auctions.

Another nine hopeful owners were left disappointed as their properties passed in at last-minute auctions squeezed in before the COVID-19 crisis deadline.

The usual weekend auction crowds were missing, but auctioneers tried their hardest to drum up some enthusiasm.

RELATED: Melbourne property industry to turn to other methods

Auctions moved forward, sellers and buyers rush in Knox

How COVID-19 will impact Melbourne

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Why I Decided To Rent Not Buy Amid The Coronavirus

We started looking at places to buy as soon as the ink on our own home’s contracts were dry. We’d just sold and we were fired up and excited to buy our next home. But everything changed last week when the coronavirus crisis took hold. 

In our mid-30s, my partner and I have lived in more than our fair share of rentals. So when we finally managed to save up a deposit and buy a home, we couldn’t have been happier.

Three years on, and we are ready to buy our next place. But the global health pandemic has thrown

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