Report

Stage 4 restrictions and an auctioneer working from his garage didn't deter bidders for a five-bedroom house in Black Rock's coveted Golden Triangle.

As the real estate market moves online, experts say the number of auctions in Melbourne is set to fall, with some homes switched to private sale.

Canberra's auction clearance rate was 75.5 per cent in July, hitting just below February's pre-COVID-19 pandemic performance of 78.6 per cent.

July had the weakest monthly result since April, highlighting that the second lockdown has had a similar outcome to the first as withdrawals bounce.

More homes go under the hammer in July, testing buyer appetite.

An analysis of median asking rents across Sydney and Melbourne reveals that those on JobSeeker will fall into the category of rental stress across all suburbs that had enough rentals to produce an asking rent.

Borrowers preferred the big banks throughout May and June, but lower rates are enticing mortgage holders to refinance with smaller banks and lenders.

Theodore White is one of thousands across Melbourne facing homelessness in the next few months as cuts to JobSeeker payments mean he can't afford to pay the rent.

Overseas interest in Australian property has fallen in recent months amid the coronavirus pandemic as international border closures curtails foreign student arrivals and overseas migration.

Regional property markets outperformed city markets on average over the past year, with local economies more immune to the effects of coronavirus crisis.