People flocked to online auctions and inspections in Melbourne on the weekend, the first since the city’s stage 4 restrictions began.
Under the strict new rules aimed at curbing the spread of coronavirus, one-on-one inspections of properties have been banned, with property viewings shifted online.
With five weeks of the lockdown to go, agents are expecting a very quiet month as house-hunters come to terms with not being able to see in person properties they want to buy.
Still, buyers were jumping online on Saturday, with Melbourne recording a 60.3 per cent preliminary auction clearance rate from 123 reported results. Across the city there were 218 online auctions scheduled, 52 of which were withdrawn.
For the properties that went ahead, the preliminary clearance rate was 71 per cent.
With the ban of inspections firmly in place, he predicted that sales activity would “grind to a halt” in the coming weeks.
Multimillion-dollar sales were still on the cards on Saturday, despite the doom and gloom.
One of the biggest reported sales for Melbourne was a three-bedroom house at 39 Iffla Street, South Melbourne, which sold under the virtual hammer for $1,732,500 — $157,500 above reserve.
Eight registered bidders signed up, with another 80 or 90 people watching the action online. In the end, it came down to two bidders — both couples —with one making the winning bid.
Meanwhile, in the eastern suburb of Box Hill, a four-bedroom house at 8 Kangerong Road sold for a similar price – being snapped up for $1,751,000. The property had price expectations between $1.5 million and $1.6 million.
Closer to the coast, a three-bedroom home at 59 Stotts Lane, Frankston South, sold for $1.35 million – $50,000 above the reserve.
Multimillion-dollar sales were still on the cards on Saturday, despite the doom and gloom.
Meanwhile, first-home buyers were jumping online to compete for homes in Melbourne’s outer north-eastern suburbs.
A young couple snapped up a three-bedroom house which was largely unrenovated at 1 Valda Street, Watsonia, bidding $773,000 — $48,000 above reserve — to win the keys. They were one of nine registered bidders on the property.
Meanwhile, in the eastern suburb of Box Hill, a four-bedroom house at 8 Kangerong Road sold for a similar price – being snapped up for $1,751,000. The property had price expectations between $1.5 million and $1.6 million.
Closer to the coast, a three-bedroom home at 59 Stotts Lane, Frankston South, sold for $1.35 million – $50,000 above the reserve.
Meanwhile, first-home buyers were jumping online to compete for homes in Melbourne’s outer north-eastern suburbs.
A young couple snapped up a three-bedroom house which was largely unrenovated at 1 Valda Street, Watsonia, bidding $773,000 — $48,000 above reserve — to win the keys. They were one of nine registered bidders on the property.
Another first-home buyer couple are now the owners of a three-bedroom house at 50 Flannery Avenue, Bundoora. The couple bid $70,000 above reserve, buying the property under the virtual hammer for $680,000.
Barry Plant Bundoora’s David Moxon said there were some solid sales at the weekend, however, he was expecting the activity to slow.
“I think as we go through this [lockdown] the stock levels will dry up. There’s not enough property on the market to satisfy the demand at the moment,” Mr Moxon said. “There won’t be many wanting to buy without a physical inspection.”
Source: Domain