Several properties were set to be sold by auction in Australia but were withdrawn by the property sellers due to the COVID-19.

Many property sellers showed their back to the response of government who banned onsite auctions. It indicates that the forthcoming months will remain in uncertainty for householders across Australia's property mart.

More than half of properties ready for the sale by auction were withdrawn by their owners until the market shows some positive signs.

The owners who didn't withdraw faced a tough market with the power now in buyers' hands. Although the price falls have been moderate and there is less evidence of huge distressed sales, many home sellers appear to be in a holding pattern until September or October. All eyes are now on when the mortgage holidays will be lifted and what impact, if any, this will have on the number of properties on the market and the price they are able to achieve.

The number of newly listed properties for sale has dramatically fallen from last year.  The COVID-19 incentives, like Job Seeker, Job Keeper and mortgage holiday, will not last forever and each will have their own impact on the property market. Hobart, Canberra, Adelaide, and Perth are witnessing the drop. According to the household data, the property market is going to be hit the falling house prices in the midst of an economic recession.