Curbs on gatherings push auctions outdoors

Bidders attending in-room property auctions are set for a change of scenery amid government cap on social gatherings.

Several auctions slated for Wednesday and Thursday evening are looking to be moved outdoors to stay within the government's 100 person limit on indoor non-essential social gatherings.

Bidders attending in-room property auctions are set for a change of scenery as agents attempt to relocate events to ensure they remain below the government cap on social gatherings.

Several auctions slated for Wednesday and Thursday evening through real estate network Ray White’s Double Bay and Canterbury offices in Sydney and Brisbane's Sherwood office are looking to be moved outdoors to stay within the government's 100 person limit on indoor non-essential social gatherings.

An in-room auction on Wednesday night, run by the groups Taylor Lake's office in Melbourne, has staggered the 13 properties going under the hammer to keep crowds below 80 people at all times. All seats have been placed 2 metres apart and a security guard has been placed on the door.

Victorian Police have been in contact with the principal, Peter Travlos, and are monitoring the event.

Ray White chief executive Dan White, said the COVID-19 outbreak has changed the face of auctions “for some time”, which is something the industry must get used to.

“What I watched my grandfather and father do — cramming people into rooms and agents whispering into bidder’s ears — has been put on hold for the foreseeable future," Mr White said.

“Creating safe spaces is mainly about social distancing and I think we have done a good job at that so far.”

Prime Minister Scott Morrison announced on Wednesday morning changes to limit the number of people gathering in one spot for non-essential gatherings to 100 people indoors, while the previous 500-person rule remains in-place for outdoor events.

The forced changes to selling come as the UBS real estate team issued a tough warning that their forecasts could be hit by the fast moving nature of the coronavirus. While if the virus was quickly contained there would be only a limited impact.

But if it peaked in June or even later in the year then home prices could fall by 10-20 per cent, even with major fiscal stimulus and interest rate cuts under the most severe scenario.

To help reduce the spread, auctions around the nation are increasingly being live streamed to hopeful bidders, researching buyers and nosy neighbours, with programs like “Auction Now” allowing properties to sell under the hammer without anyone being in the room.

McGrath estate agent CEO Geoff Lucas said he was confident similar measures being implemented by his team are

“It is a constantly changing situation. I imagine there will be an increasing number of people wanting to use these facilities,” McGrath estate agent CEO Geoff Lucas said. “It (the outbreak) is bringing forward the use of these efficient technologies in the industry.”

None of the agencies spoken to by The Australian have had any auctions scheduled for this weekend pulled at this stage.