{"id":39559,"date":"2022-07-13T09:19:44","date_gmt":"2022-07-12T21:19:44","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=39559"},"modified":"2022-07-13T09:19:44","modified_gmt":"2022-07-12T21:19:44","slug":"scary-no-buyers-at-weekend-auctions-watch","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/scary-no-buyers-at-weekend-auctions-watch\/","title":{"rendered":"\u2018Scary\u2019: No buyers at weekend auctions | WATCH"},"content":{"rendered":"

PHOTO: Auctioneer and real estate industry coach Tom Panos. FILE<\/strong><\/p>\n

\n

A prominent real estate industry coach says he is \u201creally stressed\u201d after \u201calmost no buyers\u201d showed up to his auctions over the weekend in the wake of the Reserve Bank\u2019s third interest rate hike in three months.<\/p>\n<\/div>\n

Auctioneer Tom Panos has called on the RBA to consider the impact of its aggressive\u00a0rate hikes\u00a0on the real estate market, which continued to fall last month led by declines in Sydney and Melbourne.<\/p>\n

In a video\u00a0on Saturday, Mr Panos said he had six auctions that day and only sold one.<\/p>\n

\"Sydney\"<\/a><\/div>\n
\n
\n

Real estate across Sydney continues to take a dive | WATCH<\/a><\/h2>\n<\/header>\n<\/div>\n

\u201cSo I was zero out of five till the auction I did this afternoon at 3.30pm in Five Dock,\u201d he said. \u201cI must say to you, the first five auctions were quite sad in the sense that pretty much the only people that were there were the agents and the vendors. I pretty much had no one register throughout the day.\u201d<\/p>\n

Mr Panos said buyers appeared to have been spooked after last week\u2019s 50 basis point increase, which brought the official cash rate to 1.35 per cent, and indications of another at the RBA\u2019s next meeting on August 2.<\/p>\n