Sydney's onsite/online residential auction mix sees 68 percent success rate while Melbourne online sits in the 40s

Sydney's onsite/online residential auction mix sees 68 percent success rate while Melbourne online sits in the 40s
Sydney's onsite/online residential auction mix sees 68 percent success rate while Melbourne online sits in the 40s

There were just 109 auctions scheduled in Melbourne on Saturday, some six weeks into the online system, with the Domain Group recorded a preliminary clearance rate of 47 per cent.

It was from just 53 reported results plus 29 withdrawn properties.

Homes withdrawn from auction are counted by Domain as unsold when calculating the clearance rate.

There were 126 auctions scheduled across Sydney on Saturday, on the first weekend when vendors could switch campaigns to onsite in-person auctions with social distancing.

Domain Group recorded a preliminary clearance rate of 68 per cent from 73 reported results plus 21 withdrawn properties.

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Sydney's onsite/online residential auction mix sees 68 percent success rate while Melbourne online sits in the 40s

There were just a few onsite auctions that went ahead.

Others including a Surry Hills terrace were sold pre-auction.

Not every buyer was comfortable to bid on-site on the first weekend back such as a five-bedroom house at 18 Eastcote Road, North Epping that attracted a mix of buyers on different platforms.

Four parties registered to bid: just one attended the auction on-site, another on the phone and two logged onto computers from home.

The property sold for $1.711 million to the bidder at the on-site auction.

“Real estate agents should limit the number of people viewing a property and attending an auction, follow stringent cleaning and safety guidelines, ensure clients do not touch surfaces and always have hand sanitiser available,” the NSW Treasurer Dominic Perrottet said.

“If we want to keep as many people in jobs as possible and businesses in business it is important to follow the safety advice and not put others at risk,” Mr Perrottet said.

“If people are not genuinely in the market for a new home, now is not the time to be having a look through their neighbour’s house.”

The nation's top selling sale was 30 Augustine St, Hunters Hil which sold for $1,917,000.

The nation's cheapest sale was $382,000 for a two bedroom unit at 8/30 Ashley St, Reservoir, according to Domain.

Across the smaller capital cities Canberra returned the highest preliminary clearance rate of 57 percent with 25 listings.

The other capitals did not have sufficient data for a clearance rate.

 

Tags: 
Clearance Rate Weekend Auctions

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