Auction Coverage & Property Market News

It was both a lucky and busy weekend for Sydney’s property market, as the number of auctions rose to their highest point in months.

An art gallery approved for residential use drew offers from four bidders and sold under the hammer six months after it was first listed with a higher price guide.

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.

In a bright spot for property, Sydney has had its busiest July for auctions since 2017, with an influx of new listings putting buyer appetite to the test.

Online auctions and one-on-one inspections will continue to be the norm in Melbourne, and now the rest of the state, with tougher restrictions announced on Sunday afternoon.

The prestige market rarely sees a buyer turn up to an auction and bid, without having previously inspected the property. But this did not stop one buyer from splashing more than $4.6 million on a house he had never set foot in before auction day.

Five bidders fought it out in a lengthy online process, but buyers who had already sold and settled their own home were eager to place the winning offer.

The two-bedroom home was on the market from its very first bid and, with limited options on the market, bidders sent the price soaring.

Despite the toll of the second round of stay-at-home orders, those who are buying and selling property are becoming more familiar with the virtual process.

While homes are selling online in Melbourne, some vendors are still waiting until stage three restrictions are lifted allowing public auctions to return.