Homepage Buyer Marketing newsroom

Melbourne buyers advocate, Buyer Marketing, sees a surge in listings as public auction ban is lifted

Announcement posted by Buyer Marketing 29 May 2020

Friday, May, 29; 2020, Melbourne - Buyer Marketing, Melbourne's most experienced buyer advocates, are thrilled to report a surge in listings as a result of the recent lift on restrictions to public auctions.

 

As of Wednesday, the 13th of May 2020, public auction bans were lifted in Melbourne, following a seven-week freeze that was enforced by the state to reduce public contact and minimise the spread of COVID-19.

 

Following a drop in cases, real estate activities have been able to recommence seeing public auctions now open once more and positive signs suggesting that citizens are ready to go back to normal and proceed with real estate purchase plans that had been halted as a result of the restrictions.

 

While the public auction ban has been lifted, there are still restrictions in place that property buyers must be aware of. Most impactful of the restrictions is the attendee limit. At all public auctions, for the time being, only ten potential buyers are allowed to attend. Then, in addition, agents and vendors can be present. 

 

Open For Inspections have also recommenced in Melbourne with the same ten-person limit of potential buyers allowed on-site at one time.

 

Melbourne buyers advocates can help property buyers by acting on their behalf in cases where attendee limits may be reached.

 

Following the ban lift on the 13th of May, there was an immediate surge in vendor activity, with roughly 1500 properties listed on realestate.com.au immediately after the announcement in Victoria.

 

Reviewing results of public auctions reported by the Real Estate Institute of Victoria (REIV), buyer advocates, Buyer Marketing, found that the first three weekends in May saw more than 287 auctions.

 

Of those auctions, 106 properties were sold, 51 of those were passed in, 17 were sold on a vendor bid, and 82 properties were sold before the auction took place.

 

Considering the first two weekends were still under the public auction ban, there is a strong indicator that these numbers should surge high come June.

 

In more great news, buyers advocate, Buyer Marketing, has seen competition stay strong throughout Melbourne. Good properties remain in high demand, with great buyer competition. Meaning, this pandemic should see very little impact to home values.

 

About Buyer Marketing

Buyer Marketing is Melbourne's most experienced buyer advocates, working with property buyers, offering buyer advocate services that assist property buyers in finding, negotiating and securing the right property at the right price.

 

The property sector is ever-moving and ever-evolving. Understanding the ebbs and flows of this market requires a continual finger on the pulse, a learned ability to spot great deals, understand the challenges of the market and know what concessions to ask for.

 

Most property buyers simply want to buy a new home or an investment property, and they don't have the time to become experts on the property market. For that reason, buyer advocates are critical in getting the best information, advice and support, filling the gaps in knowledge so that property buyers waste no time, energy and money.

 

For buyer advocates in Melbourne, property buyers need Buyer Marketing.