‘God help us’: auctioneer reports ‘worst’ day of his 30-year career

Auctioneer Tom Panos has called this weekend his worst auction day in 30 years in a new video. Picture: John Appleyard Sydney’s auction market remains under heavy pressure, with clearance rates continuing below 50 per cent and one veteran auctioneer describing the weekend as the “worst auction day in 30 years”. PropTrack data reveals Greater Sydney had an auction clearance rate of 40.5 per cent on Saturday, while many homes continued to be pulled from auction before they hit the market. From 368 auctions in Sydney, 84 homes sold prior to auction, 64 sold at auction, one home sold after, while 39 homes passed in and 180 homes were withdrawn. It follow’s last week’s 40.4 per cent clearance rate with 193 homes withdrawn. In realestate.com.au preliminary reports there were 468 auctions scheduled in Sydney last week, down 16 per cent year-on-year. It comes as a recent video has shown auctioneer Tom Panos spotlighting Saturday as “the worst auction day” of his 30-year career, with not a single person registering to bid. MORE: Sydney suburbs going from boom to bust Many homes are being withdrawn prior to auction as auction clearance rates remain below 50 per cent in Sydney. Picture Daily ...