Sydney Home Passes In After Microsoft Outage: ‘All Fell Apart’
A six-bedroom Hamptons-style home on Sydney's upper north shore passed in at auction after its only bidder stayed away, citing Friday's Microsoft outage. Domain recorded a 45 per cent preliminary clearance rate across the city this week, while a first home buyer won an Elizabeth Bay apartment for $760,000.
A six-bedroom Hamptons-style home at Mount Kuring-gai, on Sydney's upper north shore, passed in at auction on Saturday after its only bidder stayed away, citing Friday's Microsoft outage. "It all fell apart because the solicitors couldn't talk to each other," said Dean Finch, the Stone Real Estate sales agent.
The outage hit Australia early Friday morning. It affected Copilot, Teams and Microsoft Outlook, causing problems accessing and sending emails.
A bidder without paperwork
Two parties were expected to register to bid for 5 High Street. The strongest bidder was not confident doing so without seeing requested changes to the contract documents before the auction.
"I ended up having to send things through WhatsApp to get the changes requested," Finch said. "But they were still not confident."
The auction went ahead but closed without a bid. A second party arrived after it ended. Both groups were families from the wider local area.
The home had a listed guide of $1.95 million and a reserve of $2.3 million. Five of its bedrooms are in the main house, three with ensuites, plus a self-contained studio above the garage. Finch hopes to sell within a fortnight. If not, the vendors, who want to downsize, will rent it out.
Sydney's weekly results
The home was one of 1013 properties scheduled for auction in Sydney this week. By Saturday evening, Domain recorded a preliminary clearance rate of 45 per cent from 598 reported results. Another 233 auctions were withdrawn, and withdrawn auctions count as unsold when the rate is calculated.
In Elizabeth Bay, a first home buyer raising her paddle for the first time won a one-bedroom art deco apartment at 6/39 Roslyn Gardens for $760,000. Bidding opened at $620,000 before the property was declared on the market at $735,000. The guide was $700,000 and the reserve, adjusted during the auction, was $735,000.
Six parties registered and five bid, most of the underbidders also first home buyers. Melinda Antella of BresicWhitney East said: "There are some opportunities for first home buyers because they are not competing with investors."
In Enmore, a two-bedroom apartment at 7/159 Enmore Road sold under the hammer for $1.34 million, $10,000 below the reserve. Five groups registered and four bid, with bidding opening at $1.25 million.
Auctioneer Dave McMahon said he expected little change in the market into 2027. Buyer sentiment, he said, is tied to stability: "People are looking for more stability [in terms of] interest rate movement, but once we have clarity, it will give them confidence to enter the market."
