Real estate agent sounds property alarm after ‘worst auction day in 30 years’
A prominent Sydney real estate agent reported his worst auction day in 30 years, citing a complete lack of registered bidders. The downturn is attributed to buyer anxiety over falling property prices and the perceived failure of recent government reforms to stabilize the market.
Why it matters
The cooling of the Australian property market reflects broader economic concerns and the impact of government policy on housing affordability and investment.
- 1.58am . First published at 1.05am
Share article A prominent real estate agent has warned Aussies will continue to stay away from auctions even as property prices fall, saying he experienced his ‘worst auction day’ in his career last weekend.
Tom Panos, based in Sydney, took to social media to express his shock that not only did he fail to sell all six of the houses he had up for auction on Saturday, but that there were no bidders who registered.
Auctioneer Tom Panos said it was the worst single day he had experienced in 30 years of real estate. Instagram
“It’s very, very rare to go out there and sell no properties out of the list,” he told Today.
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