The property auction market in Melbourne last weekend was very quiet. A quick-thinking agent arranged additional inspections for a house in Box Hill South on the eve of the implementation of the Level XNUMX lockdown order, which enabled the house to achieve better auction results.

According to a report on the Domain real estate website, Melbourne planned to hold 8 auctions last Saturday (August 29) and 107 were cancelled. Based on the 45 collected results, Domain Group initially calculated an auction transaction rate of 30%. When calculating the turnover rate, cancelled auctions are counted as unsold properties.

On that day, the 1-bedroom old house at 3 Douglas Avenue in Box Hill South was sold at an online auction for A$105.2 million, which was 8.2 more than the homeowner’s reserve price.

The house was put on the market on the eve of the government's announcement of a four-level lockdown order.

Ian van Eijk, a broker at Fletchers, said: “As soon as we heard about the lockdown order, we started contacting people who had seen the house before to ensure that most potential buyers had seen the house twice. "

"Since everything is changing rapidly now, you must keep up to date and be well informed."

The advertising reference price of this house is between 94 yuan and 99 yuan. At the auction, a total of four groups of buyers participated in the bidding, starting at 90 yuan. After dozens of bids, the house was auctioned for 105.2 million yuan.

Van Eyck said that this house is like a time capsule, and buyers may move in after renovation.

He said: "The layout of the house is well arranged, and the tram station and university can be reached on foot."

Fletchers Real Estate Canterbury intermediary company director Tim Heavyside said buyers are becoming more comfortable with online auctions. Last Saturday, a buyer wore a nightgown to participate in an auction.

He eventually bought a two-bedroom house (163.8 Bright Street) in Camberwell for 8 million yuan for investment. A total of three groups of buyers participated in the auction.

Harveyside said: "This is the longest auction in my career, lasting an hour and 10 minutes."

Editor in charge: Li Xinran