Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

On the rebound: Melbourne auctions held almost daily

By Noemi Pamintuan-jara
15 October 2021 | 1 minute read
Melbourne auctions held almost daily

Buyers’ “wait and see” attitude due to the onsite inspection ban in September prompted many vendors and agents to postpone auctions to October. But now, The Barry Plant Group revealed that vendors and agents are having to add Sunday and weekday auctions to their schedules to catch the overflow of sellers and buyers who can’t be accommodated by the Super Saturday events.

Tony Ievoli, a Barry Plant Monash auctioneer, said: “Some auctions are being held on Sundays as Saturday slots have been taken up, and in October, there are auctions daily.”

In the first full week of October, Melbourne had more than 700 properties go under the hammer. Barry Plant is expecting a further 3,000 auctions to take place in the city over the next two weeks.


Onsite auctions pivot to online events

Embracing technology in the property auction market opened doors to a wider audience. Buyers can now join online auctions anytime and anywhere. Moreover, the transition to online auctions with multiple schedules shortened the auction campaign period.

Barry Plant Wantirna agency director Daniel Cripps shared that “the strong demand means auction campaigns are shorter, from four to between two to three weeks”.

Buyers quickly picking up properties on the list is also leading to shorter campaigns.

“Now, when buyers see a property online, they want to buy it by next week,” Mr Cripps added.

The strong market conditions in many of Melbourne’s suburbs is a result of significant price gains of sellers and favourable auction results. The demand is so strong that limited stocks, such as quality family and lifestyle homes, are being sold prior to auction.

And because of this, Barry Plant Coburg auctioneer Jarrod Couch advised that the high property demand is an indicator that weekday auctions are proving an excellent time to sell.

“Many agencies bring forward auctions from weekends to mid-week because there are still plenty of buyers out there. Although listings are rising, it is still a seller’s market.” 

On the rebound: Melbourne auctions held almost daily
Melbourne suburbs new reb
lawyersweekly logo

Feeling burnt out? The newest event to hit the industry, REInnovate, is a must-attend for serious real estate professionals facing the pressures of a heavy workload. Get ready to walk away with the undeniable structure for success, efficiency and profitability, and get yourself back on track to focus on what’s really important for your business. Get your early bird ticket now.


Do you have an industry update?

top suburbs

12 month growth
Flying Fish Point
Point Piper
Glenelg South
Pretty Beach
Bar Beach
Kembla Grange
Boomerang Beach
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.