PHOTO: Property Auctions
With 2700 scheduled auctions nationally, before the coronavirus onsite auction ban, most of Saturday’s property vendors have gone private treaty or withdrawn altogether from the market to await better times.
Just over half the scheduled auctions were changed to private treaty, Domain figures showed.
And 10 per cent became online auctions.
The week saw a surge in the proportion of properties sold prior to auction, lifting from 22 per cent of the preliminary collection last week to 36 per cent this week, CoreLogic advised.
The auctioneers did a great job when going ahead online on Saturday. CoreLogic advised 59 of 100 online Sydney auctions found buyers. Melbourne had 140 live auctions with 97 finding buyers yesterday.
But technically using the traditional auction measuring rules, the national clearance rate fell into the 30s.
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