Online Auctions: massive buyer numbers competing for Sydney property during lockdown
Sydney's real estate market is hotting up once again, spurred on by a squeeze in available stock due to the lockdown in Sydney. Nervous sellers are holding their campaigns off waiting too see what happens and that has contracted the volume of auctions in Sydney by about 35% in recent weeks. The result? Huge numbers of buyers are competing on the homes that are available to purchase right now.
In Lilyfield, Dib Chidiac and Olivia Bekiaris from Dib Chidiac Real Estate assembled 14 registrations to compete on this completely original two bedroom home, which ultimately sold under the hammer more than $400,000 over the $1.4m guide. The online auction was conducted via Zoom by award winning auctioneer Clarence White of Menck White Auctioneers.