What Sydney's latest lockdown restrictions mean for first-time buyers about to ...

Public auctions and open homes will be banned in Sydney this weekend as part of an even stricter lockdown.

With Australia's biggest city recording 44 new cases, Health Minister Brad Hazzard declared the traditional Saturday morning bidding in the backyard would be off.

'Certainly in greater Sydney, there are no open houses for real estate,' he said.

'There are no auctions in a physical sense.'

While online auctions will still be taking place, CommSec senior economist Ryan Felsmans said clearance rates were likely to temporarily fall as sellers withdrew their homes from the market during the lockdown.

After restrictions eased, he predicted Sydney's prices would rise again, making life even harder for potential first-home buyers.

'We've seen this with consumer behaviour during the pandemic, whenever there's  lockdown, pent-up demand is usually in place and we see a relief rally,' he told Daily Mail Australia.

'The strong property market more broadly in Sydney should resume once those restrictions are eased.' 

Going by Melbourne's early August to late October lockdown last year, CoreLogic's head of research for Australia Eliza Owen said Sydney was likely to see a price surge after the lockdown ended.

'Ultimately, the months following lockdowns have not only resulted in a resumption of sales activity, but potentially the additional sales that would have otherwise transacted during lockdown periods,' she said.

'This phenomenon was only exacerbated as restrictions eased across Melbourne and Victoria in the final quarter of 2020, as seen in the national sales volumes including Victoria.

'In the current environment, there is likely to be a jump in sales activity as restrictions ease across Sydney.'

Melbourne house prices have surged every month without fail since the end of its 112-day lockdown in late October.

Since the

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