PHOTO: Auctioneer Richard Baini of Richard Matthews Real Estate sold off a mix of homes at a last minute auction Wednesday night. Picture: Christian Gilles Source:News Corp Australia
It was billed as a “litmus test” for the housing market – the first weekend of online-only auctions since the PM banned on-site bidding – but some unexpected buyer behaviour resulted.
Sydney’s housing market failed to take the battering some expected this weekend, with auctions continuing online with some success.
Nearly 200 homes went under the hammer via online platforms in what was the first Saturday of sales since Prime Minister Scott Morrison Tuesday banned on-site and in-room auctions as part of measures to contain coronavirus.
It was also the first time online auctions were conducted on such a large scale, providing a test of whether the technology could be a suitable alternative to on-site auctions.
The final auction clearance rate will not be available until next week but McGrath chief auctioneer Scott Kennedy Green said early results were “encouraging”.
Among the priciest sales was the $3.375 million paid for a four-bedroom house on Alexandra St in Hunters Hill. The price was $1.45 million higher than what the property sold for in 2014, sales records showed.
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