AS WE move further into what is already shaping up to be a successful February, it’s clear the groundwork laid earlier in the year by Ray White members is beginning to pay off.
January is typically a seasonal time and it is very difficult to put a judgement on supply and demand. But in the first month of 2021, the Ray White Group recorded almost $3 billion in unconditional sales nationally which is up 49 per cent on this time last year.
This huge increase in sales results in January occurred as the number of new listings eased slightly on the prior year but strong buyer demand resulted in an extremely high proportion of stock continuing to be sold.
Buyer activity has actually increased dramatically over January. The leading group’s first real auctions in recent weeks have produced some outstanding results. In January there was a 50 per cent increase in the number of auctions booked to 621 with a clearance rate of 69 per cent nationally. Average registered bidders were also up at 5.8 which was 2.4 higher than that time last year. Average active bidders were up one on this time last year at 3.3.
Prices achieved under the hammer were on average 11.15 per cent higher than the highest offer pre auction.
Ray White Managing Director Dan White said the year 2021 has kicked off with continuing gusto.
“We are very proud of that fact our total share of auctions across Australia and New Zealand has reached 25 per cent and we can confidently claim that we are the number one ranked competitor creator in Australasia,” Mr White said.
“We’ve had record-breaking buyer metrics, such as loan pre-approvals, open for inspection numbers, registered auction bidders, online enquiries and so on.
“These metrics continue to give us confidence the current extraordinary momentum will endure well into 2021, especially as our central bank continues to forecast very low interest rates for at least the next three years.”
In Sydney, auction metrics over January were impressive. There were 8.7 average registered bidders per auction while 3.9 actively participated, a rise of 3.1 and 1.5 respectively from last year. The auction day clearance rate finished at 76 per cent.
Sydney is heading into a strong weekend of auctions and there a number of standouts happening across the city.
Anything can happen this weekend at the auction of 13 Birrellea Ave, Earlwood as it goes under the hammer with no reserve. Marketed by Ray White Earlwood director Dean Vasil, the property has attracted both local interest and buyers from across the border in Queensland. After 150 inspections, Mr Vasil said overwhelmingly, feedback from buyers has come in at the $1,100,000 to $1,200,000 mark.
“While there has been mixed feedback, the results on Saturday will be a true reflection of today’s market and the demand for properties in Earlwood,” Mr Vasil.
“Interest has been coming from all segments of the market. Many are looking at renovating or knocking the house down and rebuilding their dream home.”
After the sale, the Birrellea vendors are planning a move to the Hunter region for a rural lifestyle change. Ray White auctioneer Tim Snell will conduct the auction.
Meanwhile, Mr Vasil’s sellers at 21 Gornall Ave, Earlwood (pictured above) will also be making a move regionally to Byron Bay. The Ray White Earlwood director said no matter what the result is on Saturday, they will be packing up and heading to the NSW coast.
“COVID has completely changed the mentality of homeowners in Sydney,” according to Mr Vasil and luckily for his vendors, the campaign has been the best performing in terms of enquiries in 20 years for the Ray White Earlwood office.
“There were 93 groups through the first open home, the line up was around the corner. It was the best open home I have ever conducted,” Mr Vasil said.
“All up we have had 180 groups inspect the home with many coming from nearby Erskineville. They see that their money can go further in this area while also not having to sacrifice on location, it represents the best of both worlds.”
Ray White NSW Chief Auctioneer Alex Pattaro is scheduled to call the auction which has a price guide of $1,600,000 based on buyer feedback. |
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In the afternoon, Mr Pattaro will continue his auction success at 41C New South Head Rd, Vaucluse. The popular campaign has been managed by Ray White Double Bay managing director Elliott Placks and agent James Ledgerwood.
On the other side of Sydney, Ray White Upper North Shore director David Walker has had families flocking to inspections of 48 Carrington Rd, Wahroonga. The four bedroom has attracted nearly 100 buyers to the property with the majority looking at knocking down and rebuilding their family home. With a $2,100,000 price guide, Mr Walker is confident of a great result on Saturday.
Also, on the upper north shore is the auction of 120 Collins Rd, St Ives (pictured above) which is expected to attract a host of eager buyers on the day. Marketed by Ray White Upper North Shore agents David Beveridge and Coco Cui Roskam, the five bedroom, newly updated home has had local buyers flocking to open homes and has a price guide of $3,000,000. |
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Down south, in Melbourne, auctions started earlier than usual this year meaning agents are already well and truly back into the swing of things. There were 200 auctions scheduled for January 2021 while the auction clearance rate was at a high of 83 per cent. Again, average registered bidder numbers were impressive with a 2.3 person rise on last year to 6.6. Active average bidders ended on 3.9, an increase of one person per auction.
In Ferntree Gully, buyers are hoping to get more bang for their buck at the auction of 22 Barton Avenue (pictured above) which has a price guide of $750,000 to $820,000 and comes with four bedrooms and two bathrooms.
Ray White Ferntree Gully selling agent Matt Morris said it ticks a lot of boxes for different types of buyers.
“People love the size of the block and the house is in good condition. A lot of buyers are thinking about knocking down the house and rebuilding or renovating,” Mr Morris said.
“Interest is coming from everywhere, from first home buyers to investors and upgraders that want to buy a home, rebuild and then sell their existing property.
“With investors, it’s the additional potential for rental return with the back property that they are showing interest in.”
Another to follow will be the auction at 113 Taylor Drive, Gladstone Park. The campaign has been managed by Ray White Gladstone Park director Phillip Mercieca who will also be conducting the auction.
Later in the day, Ray White Ascot Vale principal Adam Hicks is expecting multiple registered bidders at the auction of 52 Gatehouse Drive, Kensington after close to 50 inspections. While there are some investors interested in the property, Mr Hicks said most of the interest is coming from young families. The price guide is set at between $960,000 to $1,040,000 and Ray White auctioneer Jeremy Tyrrell will conduct the auction. |
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Brisbane is set to have a massive weekend with two standout auction campaigns coming to end on Saturday.
First up will be 18 Lincoln St, Wilston (pictured above) at 10am which will go under the hammer through Ray White Ascot agent Ian Cuneo. Ray White auctioneer Phil Parker will call the morning auction. Mr Cuneo has had a broad range of buyers inspect the four bedroom home including families and professional couples.
“Overall the presentation of the home is of a very high standard, it was designed and built for the actual owners so it’s very high specification. It’s a great contemporary Queenslander that’s convenient and easy to live in,” Mr Cuneo said.
“We had 43 groups through in the first half an hour of the first inspection. We’re seeing an increased number of buyers coming through the door at the moment and stock is selling faster than we can replace it.
“From a buyer’s perspective, they don't have a lot of choice. There are only four houses for sale in Wilston at the moment.”
Next to go on the auction block will be 33 Goulburn St, Gordon Park through Ray White Wilston principal Alistair Macmillan. The Wilston agents have had more than 200 groups inspect the property and expect it to fly come Saturday.
Following on from a successful January and first week of February, Ray White Adelaide members are expecting similarly good results. Particularly, Ray White Norwood agent Matthew Puopolo with 24 Shoalhaven Cct, Mawson Lakes and Ray White Tea Tree Gully agent Mohit Gupta who is selling 5850sqm block of land at 37 Kings Rd, Salisbury Downs. |
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