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1.Market Observations, 8.Was Sticky

7 June 2018 (AFR) – Rise of the off-market sale: Nervous vendors save on marketing, minimise risks

(7 June 2018, AFR, p33, by Michael Bleby)

Buyers agent Lauren Goudy... (Wolter Peeders)

Buyers agent Lauren Goudy… (Wolter Peeders)

‘Falling auction clearance numbers and nervous vendors are driving growth in the number of off-market sales in the residential markets of Australia’s largest cities. Last month, Sydney buyers agent Lauren Goudy purchased a two-bedroom apartment in Sydney’s Darlinghurst for $2,154,000. The unit at 707/320 Liverpool Road was due to go to auction but three days before the agent cancelled the auction and asked buyers to make offers. “A number of properties are being ‘pulled’ before the auction day and then the selling agent will then try to negotiate with the buyer they have at the right level, rather than taking the property to auction and passing-in, or revealing to that one buyer that there is no other interest at their same level,” Ms Goudy said.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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