Keeping auctions social
EIGHT bidders formed a semi-circle in the backyard of a Belmont property to compete for the renovated home, one of the first to sell at face-to-face auctions since COVID-19 restrictions were lifted.
COVID safe rules were paramount as buyers kept their distance and bid cautiously, but they soon became familiar with the process as the three-bedroom house at 6 Marjorie Ave sold for $642,000 — eclipsing the reserve price by more than $30,000.
The bidders stood, mobile phones pressed to their ears, as their partners waited in the street.
The renovated brick veneer house has a modern kitchen, open-plan living space and a north-facing yard.
Bidding opened at $560,000 but soon warmed up with up to four buyers yelling bids simultaneously at one stage.
First-home buyer Tia Smith stood at the end of the driveway to bid as her partner, Shaun Lenehan, listened from the street.
“I just put full trust in Tia,” Mr Lenehan laughed after the auction.
“We were just clear on what we wanted to spend and just stuck to it.”
The couple have been looking to buy for six months, Ms Smith said.
“We moved down from Melbourne in the last couple of months but then everything went on delay with COVID,” she said.
Four properties were offered at face-to-face auctions in Geelong on Saturday, with three selling under the hammer and the fourth immediately after auction.
Three auctions were also conducted online.
Multiple bidders included six at a Highton property and two at an East Geelong home.
Barry Plant agent Kieron Hunter asked several people to leave an auction at Lansell Drive, Highton, as inquisitive neighbours and friends pushed the crowd above the allowable 10.
Later he said that up to 11 buyers had told him last week they wanted to bid at Marjorie Ave, only for several to pull out before the weekend.
These were among the first face-to-face auctions in Geelong since the Victorian Government lifted restrictions, allowing up to 10 buyers to attend open homes or auctions.
Under the new rules, agents can allow up to 10 people into a property for an open home or auction.
Eastwood Andrew agent Amanda Frick said she had asked buyers to pre-register to bid at 6 Tully St, East Geelong — the first auction scheduled on Saturday — but allowed partners into the backyard once it was clear there were four parties.
A young couple paid $760,000 for the three-bedroom Victorian era home.
Ms Frick said two buyers competed for the 483sq m property.
“I haven’t found much of a change since the coronavirus restrictions in terms of buyer demand, especially in the core areas of Geelong,” Ms Frick said.
She said that while stock was low the number of buyers was creating strong competition.