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With restrictions easing in some states but tightening in others, and borders still locked down around the country, property buyers have had to adapt quickly when it comes to bidding on auction day.
While one would expect that state borders closing or super tight restrictions would lead to buyers shying away, it seems instead that they are embracing modern technology and building the confidence to buy from afar.
Around the country, our agents have reported a significant increase in the number of interstate buyers, either showing serious interest through inspections via Facetime or even snatching up the property, sight unseen.
This weekend, in the leafy suburb of Ashgrove, in Brisbane’s North, Ray White Paddington agent Sonya Browne successfully sold the renovator’s dream home at 17 Yates Avenue (pictured below) for $770,000.
The campaign drew in 12 registered bidders and over 70 groups through prior to auction day. In the end, the winner was an investor from NSW who is hoping to retire to Queensland one day.
“The buyer actually never physically saw the property; he was due to fly up last week to have one final look before bidding, but of course the new Covid restrictions came into place,” Ms. Browne said.
“He had a friend viewing the property and bidding on behalf of him, whom he trusted very much to make the right decision.”
"It just shows that buyers will not let anything stop them if they find the property they want; even if it means they can't physically see it yet!"
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17 Yates Avenue, Ashgrove QLD[/caption]
Down in Melbourne, where restrictions are the toughest for any capital city in the country, online auctions and selling property through virtual means is becoming the norm.
Ray White Victoria's Chief Auctioneer Matt Condon (pictured below) is adapting to Saturday's spent auctioning from his living room at home.
"Once again Victoria’s results exceeded expectations this week. Of course, tightened restrictions meant that all auctioneers conducted their auctions online and from the comfort of their own homes!"
"This weekend, we saw an average of 6.3 registered bidders per auction. These are some of the highest numbers we have seen all year."
"It is clear that the restrictions are not deterring buyers, and it's a privilege to be able to provide exceptional service to our clients while operating in a safe environment 100% online," Mr. Condon said.
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Matt Condon adapting to Saturday's at home[/caption]
On Saturday in the auction powerhouse office that is Ray White Oakleigh, Agents George Midas and Robert Cincotta sold 8 Gamble Street in Oakleigh East (pictured below) for $940,500, a whopping $130,500 over reserve price, to a sight-unseen buyer.
The auction saw 66 bids stretched over a nail-biting 45 minutes of bidding and the winning bidders were a couple moving from their unit in Mount Waverley and looking to build their dream home.
“The buyers were actually didn’t physically inspect the property! They only viewed it from a virtual video that I did on my phone just before restrictions tightened back up,” Mr. Midas said.
Mr. Midas said that properties going under the hammer last weekend were fortunate enough to have had viewers through just before Stage 4 lockdown was put back in place in Victoria.
“Our team at Oakleigh are working together better than we ever have before to ensure the online auctions run smoothly and guarantee the best result for our valued clients.”
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8 Gamble Street, Oakleigh East VIC[/caption]
