Herald Sun Real Estate Auction Blog: Live and rolling updates from the auction market, July 24


We return to all the live events on the Pioneer Sun Auctions blog again. This is what we are going to see this weekend.

During the fifth extended lockdown in Victoria, hopeful home buyers will participate in the second week of online auctions.

But these restrictions did not significantly inhibit buyer demand or the number of auctions.

According to realestate.com.au, about 717 properties will be auctioned this week-an increase of more than 200% over the same period last year.

You will be able to stream the action on Herald Sun’s auction blog in the following way Garville, The scrolling results are as follows. This is what we are looking forward to this weekend.

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Reservoir and Craigieburn will have the most properties for sale, with 16 and 15 auctions planned in the suburbs, respectively.

Marshall White Bayside director and auctioneer Matthew Pilios said that the recent shutdown will only exacerbate the state’s already hot real estate market, and buyers are still afraid of missing it.

Mr. Pilios said: “My phone has not stopped the buzzing of people being blocked because they are looking for inventory.”

“They are afraid of being homeless. (Now) If there are good photos and TV standard videos, the advertising campaign does not take three to four weeks. Buyers can come once, watch the video again and make an offer. I think Covid is true Changes the behavior of buyers, people know what the house is made of.”

Mr. Pilios will auction 3 Addison Street, Elwood At 10:30 in the morning, it was stated that four bidders were ready to bid for this four-bedroom house, with a guide price of US$2.3 million to US$2.5 million.

He added that he expects another “12 to 18 months of growth” in the market.

Mr. Pilios said: “We still have many expats and outsiders coming to Melbourne and good suburbs. Our real estate market is a place where funds are always safe.”

Last week, the 654 auction results reported to the Real Estate Institute of Victoria (REIV) recorded a 93% clearance rate.

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