Auction Bidding Tips Archives - TBAS® Buyers Agents

Auction Results Sydney 4 July 2020

July 4, 2020July 4, 2020

Comment: Auction Results Sydney

- Is Unemployment affecting the housing market? No, the housing market is still performing extremely well and consumer confidence has rebounded 33 per cent since May. It is not uncommon for some housing markets to perform well when unemployment rises and the economy weakens due to a lower cash rate and limited supply of quality properties in sought after areas.

- First Home Buyers will find out as of the 1 July if they are the recipients of the federal government assistance to secure their first mortgage with as little as a 5% deposit and no LMI. (Lender Mortgage Insurance). Under the eligibility criteria borrowers who have been approved for the scheme have only 90 days to exchange contracts on a property. This means First Home Buyers need to do their homework and need independent advice when purchasing a property, otherwise they risk overpaying and buying the wrong property.

- Unit and house prices in Sydney have fallen 0.6 per cent in June but remain up 13.3 per cent over the year according to CoreLogic. Record low interest rates, assistance from banks for struggling mortgagees and government stimulus has prevented a flood of distressed sales that would otherwise have sent prices falling faster. The next 12 months for the housing market will be dependent on the support level from the banks and government.

Using a Buyer's Agent: A Buyer's Agent can act as a 'middleman' at a time when house hunting has become more difficult. A Buyer's Agent can help by providing a shortlist of properties and arrange private viewings.

Auctions have resumed Onsite. If you are planning on bidding , it is important you have a proven auction strategy and get professional advice.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and Onsite to purchase properties for their clients. For more details contact us.

Auction Results Sydney 27 June 2020

June 27, 2020June 29, 2020

Comment: Auction Results Sydney

The median price of Sydney houses remains about 20 per cent higher than in 2015, but dropped a modest 0.6 over May, the first fall in a year.

It’s quite the reverse for Sydney unit prices, which are not performing well. Suburbs like, North Ryde, Campsie, Forest Lodge and around Parramatta & Granville are back to 2015 prices, which is due to an oversupply, weak buyer demand and well documented reports of defective construction.

Sydney auction clearance rates are increasing with the easing of COVID restrictions. Last weeks clearance rate was 68 per cent compared to the same week last year it was 60 per cent. It’s not surprising, houses are selling better than units. The clearance rate for houses was 70 per cent, compared to 64 per cent for units

Auctions have resumed Onsite. If you are planning on bidding , it is important you have a proven auction strategy and get professional advice.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and Onsite to purchase properties for their clients. For more details contact us.

Auction Results Sydney 20 June 2020

June 20, 2020June 20, 2020

Comment: Auction Results Sydney

- House prices in Sydney rose 2.6 per cent in the March quarter, Pre-COVID and 10 per cent for the year to March. Also vacancy rates record a slight drop to 2.5 per cent in May. We are still seeing strong interest in A-grade properties around metropolitan Sydney. In the lower north shore, inner west, and eastern suburbs, in the middle range of properties anywhere from $850,000 to $2 million, there’s a huge supply of buyers.

- Good news for bank deferrals, with the Australian Bureau of Statistics revealing some of the industries most heavily impacted by COVID showing signs of recovery. Payroll job losses decreased from 8.9 per cent to 7.5 per cent over the last month.

- The window for First Home Buyers to get into the market is narrowing, with the percentage of properties under $700,000 falling 6 per cent, to be under 30 per cent of listings. We are still seeing a few good buying opportunities for First Home Buyers Off Market.

Auctions have resumed Onsite. If you are planning on bidding , it is important you have a proven auction strategy and get professional advice.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and Onsite to purchase properties for their clients. For more details contact us.

Auction Results Sydney 13 June 2020

June 13, 2020June 13, 2020

Comment: Auction Results Sydney

- Free Standing v’s Apartments: Free standing House Prices are rising in parts of Sydney due to limited supply and strong demand as owner occupier buyers capitalised on record low interest rates. The opposite for Apartment prices in high-density areas where there is an oversupply of stock, rising vacancies and low rental yields. Locations where free-standing houses are rising.

Campbelltown, Camden & Badgerys Creek Airport area Up 0.5 per cent over May & 1.6 per cent since COVID. Ryde area up 0.4 per cent over May & 4.8 per cent since COVID. Central Coast 0.2 per cent over May & 1.6 per cent since COVID.

- Home Loans Post Biggest Fall Since 2015, however One part of the home finance market that has been going gangbusters is refinancing of loans. Home buyers have taken advantage of super-low rates to shore up their finances.

- UBS economists are more optimistic about the housing market, predicting house price will only fall between 5 and 10 per cent over the next year, which is an upgrade from its previous forecast of at least 10 per cent.

- There’s plenty of good news for first-home buyers. The NSW Government is offering First Home Buyers grants totalling $35,000, combined with record low interest rates and less competition, the timing couldn't be better. First Home Buyer Activity is up 55% according to realeste.com.au. Best Possible Suburbs for First Home Buyers close to the CBD under $650,000 to qualify for a stamp duty concession. Marrickville, Newtown, Strathfield.

Auctions have resumed Onsite. If you are planning on bidding , it is important you have a proven auction strategy and get professional advice.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and Onsite to purchase properties for their clients. For more details contact us.

Auction Results Sydney 6 June 2020

June 6, 2020June 8, 2020

Comment: House Prices & Rentals

Auction Results Sydney

- Short term rentals have rebounded 189 percent over the last few weeks. This is good news for long term rentals and landowners struggling to find tenants.

- House Prices in the Eastern Suburbs increased by 0.5 per cent over May, however prices fell by 1.5 per cent in the Sutherland Shire and fell 1 per cent in the Hills District.

Auctions have resumed Onsite. If you are planning on bidding , it is important you have a proven auction strategy and get professional advice.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and Onsite to purchase properties for their clients. For more details contact us.

Auction Results Sydney 30 May 2020

May 30, 2020May 30, 2020

Comment: Property Market Crash

Auction Results Sydney

- Real Estate Institute of Australia president Adrian Kelly said forecasts of a crash were “fanciful”.

“We have a situation where listings are decreasing yet the inquiry level from prospective buyers is increasing … I do not believe that this points to a catastrophic outlook for house prices,” he said.

- Researchers predict the property downturn won't last long. Over the past 50 years, house prices were higher five years after a recession or downturn each time. In Sydney, from the start to the end of this decade, median house prices had increased from $530,00 to $972,000 and the average number of transactions have decreased. Now is the ideal time to trade up in Sydney or buy in the Southern Highlands.

- $50k boost on the cards for new property purchasers! The $50,000 grant would only be applicable to purchasers of newly constructed dwellings and is limited to 50,000 purchases.

- First Home Buyers are taking advantage of favourable buying conditions. Record low interests (which will be with us for a long time), reduced competition and lower vendor price expectations.

Auctions have resumed Onsite. If you are planning on bidding , it is important you have a proven auction strategy and get professional advice.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and Onsite to purchase properties for their clients. For more details contact us.

Auction Results Sydney 23 May 2020

May 23, 2020May 23, 2020

Comment: Supply & Demand

Auction Results Sydney

- Investors are being reminded that the pain in the property market will be short-lived. Research conducted by PIPA chairman Peter Koulizos found that five years after each of the recessions or economic downturns over that time period, capital city house prices saw a significant increase.

- NSW to emerge as a “safe haven” for international investors, saying Sydney would trump cities like London and New York for deals in the coming months due to the superior handling of the virus, quality lifestyle and stable government

- Will we have an oversupply of units in Sydney? Leigh Warner, JLL’s head of residential research said, “You may have some temporary declines and you may have a buyers’ market for a period, but ultimately it will become a supply and demand issue.” And stressed Sydney would still face a shortage of housing in years to come. While demand had been eased due to the Coronavirus pandemic, a drop-off in construction activity would see any oversupply of units soaked up in the coming years.

Auctions have resumed Onsite. If you are planning on bidding , it is important you have a proven auction strategy and get professional advise.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and Onsite to purchase properties for their clients. For more details contact us.

Auction Results Sydney 16 May 2020

May 16, 2020May 16, 2020

Comment: Property Values

Auction Results Sydney

- Will job losses affect house prices? Economist Cameron Murray points out that unemployment is not helpful in predicting price movements. "The last time we had similar unemployment numbers, Sydney house prices increased 13 per cent the next year," Murray said.

- Don't dismiss the possibility of a sharp boost in house prices with foreign buyers coming back into the market late this year or early next year.

- Long term property growth in the right location is key to building equity. Buying in country towns or regions because they are cheap with poor economics will have limited growth potential.

Auctions have resumed Onsite. If you are planning on bidding , it is important you have a proven auction strategy and get professional advise.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and Onsite to purchase properties for their clients. For more details contact us.

Auction Results Sydney 9 May 2020

May 9, 2020May 9, 2020

Comment: Property Values

Auction Results Sydney

- Sydney Buyers are starting to flood the Real Estate Market, realising it is a perfect time to buy. Search activity across Australia is up 5.3 per cent over the past week and is set to increase after the NSW government lifted the restrictions on open homes and auctions as of Saturday 9 May.

- 'Property Doomsayers' predicting a 30% decline in Sydney Property Prices look set to be sadly disappointed again, with prices up 0.4 per cent in April. Data is suggesting a modest 5 per cent decline over the next 6-9 months, but TBAS® Buyers Agents are predicting it will be at least around 10 per cent.

- Sydney Real Estate discounted by an average of 5.37 per cent: Property in Sydney is not being discounted by as much as it was last year. Sellers on the lower north shore have been offering the biggest price cuts, dropping house asking prices by an average of 9.14 per cent and in the East 6.92 per cent.

Auctions are continuing Online and Onsite as of this Saturday. If you are bidding Online, it is important you have a proven auction strategy and be well advised.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and Onsite to purchase properties for their clients. For more details contact us.

Auction Results Sydney 2 May 2020

May 2, 2020May 2, 2020

Comment: Property Values

Auction Results Sydney

- Limited housing supply is insulating property values. 'Mortgage Holidays' are preventing distressed sales and unprecedented Government stimulus is keeping businesses afloat. We will more than likely see drop in property values over the May period, with rising vacancies and falling rents.

- So far, widespread property bargains haven't materialised as a result of the pandemic and prices haven’t slumped dramatically, in a critical blow to home buyers, with buyer confidence is rising.

- First Home Buyers with government assistance have been very active in the property market. Also, 'Upgraders' realising it's the perfect time to trade up, are snapping up bargains.

- Demand for Houses is outstripping Apartments, as savvy Investors want Capital Growth Producing Properties as opposed to high yielding apartments.

Auctions are continuing Online. If you are bidding Online, it is important you have a proven auction strategy and be well advised.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and purchase properties for their clients. For more details contact us.

Auction Results Sydney 25 April 2020

April 25, 2020April 25, 2020

Comment: Property Values

Auction Results Sydney

- Latest data suggest the decline in property values has been minimal to what has happened over the last month. In the last 28 days ending 21 April, the change in value was still positive at 0.4 per cent.

- With Australian banks heavily invested in Real Estate and the Australian economy reliant on the Property market, together the banks and Australian government will ensure the property values are maintain at a reasonable level.

- Housing prices are expected to bounce back early next year if the economy recovers later this year as predicted, with low interest rates underpinning buyer demand. TBAS® Buyers Agents are already negotiating 10-15 per cent discounts for their clients.

- Entry level properties are performing extremely well, despite COVID-19, with first home buyers with secure jobs recognising the unique buying conditions.

Auctions are continuing Online. If you are bidding Online, it is important you have a proven auction strategy and be well advised.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and purchase properties for their clients. For more details contact us.

Auction Results Sydney 18 April 2020

April 18, 2020April 18, 2020

Comment: Is it a good time to Buy Real Estate?

Auction Results Sydney

- First Home Buyers have re-entered the property market, enticed by perfect buying conditions of record low interest rates, less competition and falling prices. Property buyers are already able to secure 5 to 10 per cent discount on select properties if they come from a strong negotiating position.

- Now is a good time for investors to secure huge discounts on Off-the-plan apartments, with some buyers who signed contracts during the peak of the market walking away from their deposits, as values dropping between 10 to 20 per cent.

- Central Banks' Financial Stability Review' noted the Australian financial system enters this challenging period "in a strong position" with capital levels high, improved bank liquidity in recent times and most households "now have substantial equity in their homes".

- Property prices will largely be determined by the extent of unemployment and the length of the government restrictions. A sudden spike in unemployment should have an immediate impact on property prices, which we are already seeing, but this may be short lived after the government restrictions are lifted.

Auctions are continuing Online. If you are bidding Online, it is important you have a proven auction strategy and be well advised.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and purchase properties for their clients. For more details contact us.

Auction Results Sydney 4 July 2020

Auction Results Sydney 4 July 2020

Auction Results Sydney

Comment: Auction Results Sydney

TBAS® Property News

Clearance Rate:60% - Sold:3 - Passed In:2 - Withdrawn:0 - Auctions:5

Auction Results Sydney 27 June 2020

Auction Results Sydney

Comment: Auction Results Sydney

TBAS® Property News

Clearance Rate:100% - Sold:7 - Passed In:0 - Withdrawn:0 - Auctions:7

Auction Results Sydney 20 June 2020

Auction Results Sydney

Comment: Auction Results Sydney

TBAS® Property News

Clearance Rate: 55% - Sold:5 - Passed In:4 - Withdrawn:0 - Auctions:9

Auction Results Sydney 13 June 2020

Auction Results Sydney

Comment: Auction Results Sydney

TBAS® Property News

Clearance Rate: 23% - Sold:3 - Passed In:10 - Withdrawn:0 - Auctions:13

Auction Results Sydney 6 June 2020

Auction Results Sydney

Comment: House Prices & Rentals

TBAS® Property News

Clearance Rate: 50% - Sold:4 - Passed In:4 - Withdrawn:0 - Auctions:8

Auction Results Sydney 30 May 2020

Auction Results Sydney

Comment: Property Market Crash

TBAS® Property News

Clearance Rate: 66% - Sold:6 - Passed In:3 - Withdrawn:0 - Auctions:9

Auction Results Sydney 23 May 2020

Auction Results Sydney

Comment: Supply & Demand

TBAS® Property News

Clearance Rate: 55% - Sold:5 - Passed In:4 - Withdrawn:0 - Auctions:9

Auction Results Sydney 16 May 2020

Auction Results Sydney

Comment: Property Values

TBAS® Property News

Clearance Rate: 40% - Sold:2 - Passed In:3 - Withdrawn:0 - Auctions:5

Auction Results Sydney 9 May 2020

Auction Results Sydney

Comment: Property Values

TBAS® Property News

Clearance Rate: 40% - Sold:2 - Passed In:3 - Withdrawn:0 - Auctions:5

Auction Results Sydney 2 May 2020

Auction Results Sydney

Comment: Property Values

TBAS® Property News

Clearance Rate: 33% - Sold:4 - Passed In:8 - Withdrawn:0 - Auctions:12

Auction Results Sydney 25 April 2020

Auction Results Sydney

Comment: Property Values

TBAS® Property News

Clearance Rate: 55% - Sold:5 - Passed In:4 - Withdrawn:0 - Auctions:9

Auction Results Sydney 18 April 2020

Auction Results Sydney

Comment: Is it a good time to Buy Real Estate?

TBAS® Property News

Clearance Rate: 40% - Sold:4 - Passed In:6 - Withdrawn: 0 - Auctions:10