Private treaty and pre-auction sales prove popular during Coronavirus restrictions
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Apr 27, 2020
Private treaty and pre-auction sales prove popular during Coronavirus restrictions
Real estate agents have adapted to doing business under the Coronavirus restrictions resulting in significant properties sold, according to Ray White and McGrath agents.
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Ray White25 Lithgow St, Wollstonecraft was sold under the hammer by agents Desiree Hough and Chris Keane of Ray White
Despite Coronavirus restrictions where open homes and on-site auctions are no longer allowed, real estate agents across the country have been adapting.
Traditionally the Easter break and ANZAC weekend are very quiet for property sales, however, a number of sales have taken place, both as private treaties and online auctions.
Private treaty
In Randwick, McGrath agents Imran Hamidi and Kevin Mendes have successfully sold 4/2 Llanfoyst Street for around $2.9 million, although the price is undisclosed.
4/2 Llanfoyst Street, Randwick which was sold through McGrath agents Imran Hamidi and Kevin Mendes. Photo: McGrath
"It was exciting to get the sale across the line, considering the market we are in at the moment," said Mr Hamidi to WILLIAMS MEDIA.
"The majority of interest in all the units are from down-sizers, as well as a couple of doctors, considering the property is so close to the hospital."
Mr Hamidi said the buyers were a down-sizing couple who were very active and were looking forward to being able to walk to Coogee Beach and the attractions of Randwick Junction.
The house was sold by private treaty.
In Queensland, Pelican Waters saw the sale of 29 Westholme Circuit by agents Linda Feltman and Wayne Beck for $1,110,000.
29 Westholme Circuit, Pelican Waters, QLD was sold by private treaty through McGrath agents Linda Feltman and Wayne Beck. Photo: McGrath
A four-bedroom, five-bathroom home it is located in one of Pelican Waters' most sought-after streets.
The property was sold by down-sizing vendors and had only been on the market for seven days before going under contract.
A deceased estate at North Bondi was last traded in 1985 for $145,000. This past week it sold for $3,315,000.
2/101 Brighton Boulevard, North Bondi was sold by McGrath agents Will Manning and Damian Steele. Photo: McGrath
It is a 3 bedroom, 2 bathroom unit with views overlooking Bondi Beach.
It was sold through McGrath agents Will Manning and Damian Steele.
Auctions
In Sydney's lower North Shore, Ray White agents Desiree Hough and Chris Keane were instrumental in selling 25 Lithgow Street in Wollstonecraft for $1,775,000 under the hammer.
There were 11 registered bidders to the online auction last Tuesday night, of the pretty federation home in one of the best kept secret locations in Sydney.
“Five bidders were active in the live online auction which saw some strong and active bidding," said Ms Hough.
"Our buyers all loved the experience, it was much less stressful for them as they were all at home.
"Auctioneer Jason Andrew ran a very smooth auction.
"I think the online auction method is here to stay."
In regards to auctions over the week there were 431 scheduled to go under the hammer across the combined capital cities over the week, down on the 1,922 over the
previous week.
The lower volumes were likely a result of the nation stopping in commemoration of Anzac day on Saturday, combined with ongoing restrictions around on-site auctions.
According to preliminary results, 56.5 per centof the 92 sold results had sold prior to the scheduled auction date.
Source: CoreLogic
Time will tell what happens next with Coronavirus but the Western Australian Government has since relieved restrictions around open homes, much to the relief of the local real estate industry.
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