Real Estate auction blog: Livestreams and rolling updates from Melbourne’s auction market

This week’s auction numbers reflect a new report from InfoTrack that reveals more than one in 10 prospective buyers across the country are finding it difficult to secure their next home.

Real estate technology firm InfoTrack’s Australian head of property Lee Bailie said about 14 per cent of buyers struggled to find a home to move into, while 21 per cent were concerned about property prices.

“Family households with children were the most likely to be impacted by the ability to afford a property,” Mr Bailie said.

“Interestingly, only two-thirds of respondents were concerned about interest rates and surprisingly only 40 per cent of first home buyers.

“In the rush to snap up available homes, more buyers seem to be compromising on important property checks in favour of putting in a speedy offer (with) not even half of all respondents having a pest inspection carried out.”

The report, compiled with survey responses from 130,000 people, also revealed 72 per cent of Victorians didn’t buy or sell their property for the price they initially expected, with a quarter of that number finding prices the most challenging.

he real estate technology firm’s Australian head of property Lee Bailie said about 14 per cent of buyers struggled to find a home to move into, while 21 per cent were concerned about property prices.

“Family households with children were the most likely to be impacted by the ability to afford a property,” Mr Bailie said.