A strong start to May

THE first weekend of May has yielded some strong auction results that point to a big month ahead.

Coming off the back of an outstanding April, the winter chill did nothing to cool down the hot Australian property market last weekend. The Ray White Group took 439 properties to auction in Australia and recorded a 78 per cent clearance rate last weekend. That’s almost 30 per cent more than this time last year during the lockdown.The leading group is yet to see an end to intense buyer demand which is expected to carry on throughout the winter months. Bidders were 1.5 higher than this time last year with a total of 5.8 people registering to bid on average at Ray White auctions around the country. Active bidders were also high with 3.3 buyers throwing up their paddle in a bid to secure their new home.Loan pre-approvals for buyers are also up by a massive 173 per cent compared to April 2019 further showing that the mass of buyers are far from exiting the market.More prospective sellers are paying attention to the hot market as well. Appraisals over the last month are continuing to rise as 48 per cent more properties have been appraised in April compared to the same time two years ago.New listings also rose in April by 30 per cent on this time last year while listings on the market sit 7.75 per cent lower than this time last year.And proving that auction is still the way to go to secure the best price the market has to offer, those who went all the way to game day in April sold for 12.55 per cent more than the best offer prior. The first May weekend for Ray White Sydney did not disappoint as one of the leading group’s biggest auction markets recorded an 81 per cent clearance rate. Average registered bidders continued strongly with 6.5 buyers registering to bid at a Ray White Sydney auction while 3.3 threw their hat in the ring. This weekend, the city is gearing up for another great weekend with 128 Ray White auctions scheduled for Saturday.The auction standouts will include 36 Eglinton Rd, Glebe (pictured above) which was renovated with the help of the Integrated Design Group. Selling agent Matthew Carvalho of Ray White Surry Hills has given out a price guide of $2.7 million on the three bedroom terrace home.“We are predominantly receiving interest from downsizers throughout this campaign but we have taken through a few younger families,” Mr Carvalho said.“There has been huge interest in the property and while I don’t know how long it will continue, in this area the market is still firing.”After more than 5,300 online views and 230 email enquiries in just two weeks, Ray White Bondi Junction agent Luke Sommen is feeling confident about the auction of 17 Maloney St, Rosebery. Coming in under the current median house price for Sydney of $1,309,195, the $1,150,000 to $1,200,000 represents an affordable opportunity for buyers looking in the eastern suburbs.“It’s on a smaller block of land but as a freestanding house it does appeal to a larger market than an apartment in the area,” Mr Sommen said.“It’s attracted a mix of first home buyers and investors which is interesting because the latter are not a group we have seen in the market for a while.”Nearby, fellow Ray White Bondi Junction agent Ray Nicholas said many of the eager buyers looking at his 174 Newland St, Queens Park auction listing are considering buying first then selling.

“We have had a huge level of enquiry from buyers, especially owner occupiers looking to upgrade from smaller houses,” Mr Nicholas said.

“Many haven’t sold their own properties yet because they know in this market they can’t uproot themselves and be left with nowhere to go.”

Ray White Sutherland Shire agent Karan Bambacas will also be welcoming new owners after her morning auction for 30 Hume Rd, Cronulla. The four bedroom property hasn’t been on the market for over 50 years and Ms Bambacas said the buyers are jumping at the chance to get into the tightly held area.

May also started off well in Melbourne where Ray White recorded an 84 per cent clearance rate over the weekend and 4.5 average registered bidders per auction. This Saturday, there are a further 176 auctions scheduled in Victoria’s capital.

Early in the morning, Ray White Brunswick agent Alex Ilyin will continue his auction hot streak with 1/116 Lynch Rd, Fawkner. The Ray White Brunswick agent has received strong interest from first home buyers who see the $400,000 to $440,000 price guide as good value buying in the sought-after suburb.

Meanwhile, there will be a mix of different buyers at 1/11 Gloucester St, Mount Waverley this weekend. The four bedroom home has been popular with young families, downsizers and investors and has received more than 100 inspections.

“Lately we have been seeing a three way battle between these groups as the suburb ticks all the right boxes for different types of buyers,” selling agent Courtney Matthews of Ray White Mount Waverley said.

“Not only is Mount Waverley part of several good school catchments, it’s also easily accessible and close to highly-desirable amenities such as shopping centres, restaurants and local parks.”

After almost 240 groups inspection 2 Settlers Court (pictured above), Ray White Rowville selling agent David Armstrong is ready for a huge auction come Saturday. The hybrid online/onsite auction is set to be hotly contested by a range of different buyers including several from interstate.

“There are a lot of interested first home buyers, young families and some downsizers who all like that it’s been renovated and doesn’t need any extra work,” Mr Armstrong said.

“It’s a turn key house, the successful buyers can walk straight in and start living their lives.”

Online auction link available on request.

Other auction standouts for the day include 2/8 Williams St, Mentone and 72 Argus St, Cheltenham being marketed by Ray White Cheltenham’s Kevin Chokshi.

Even sunny Brisbane is feeling a chill with winter just around the corner but the housing market in the Sunshine State capital is set to remain warm.

Going under the hammer this weekend is Ray White Wilston principal Alistair Macmillan’s own family home at 70 Hawdon St, Wilston (pictured above). The house has been marketed by Ray White Wilston agent Sam Hagen who said he has been inundated at OFIs after more than 250 buyers inspected the five bedroom home.

On Brisbane’s southside, 180 groups have inspected the three bedroom 19 Ferndale St, Annerley including several interstate buyers.

“It’s a very typical first home buyer property, it’s been nicely presented on a good street and I think there will be a big crowd there on Saturday morning,” selling agent Geoff Sellars of Ray White Annerley said.

Meanwhile, Ray White New Farm and Ray White Bulimba will conduct another auction event at Revel Brewing Co. With the standout expected to be 4/100 Bowen Tce, Fortitude Valley which is being sold through Ray White New Farm sales manager Nicholas Given.

Adelaide is heading into another great weekend as Ray White Norwood continue to dominate the city’s auction scene.

Ray White Norwood agent Brandon Pilgrim will take 7A Nilpinna St, Burnside (pictured above) to auction after 90 groups went through the property during OFIs.

“There is a mix of buyers - young professionals, small families and downsizers. There are also a handful of buyers looking at the block value and some thinking about using the property as an investment,” Mr Pilgrim said.

“But it’s the area more than anything that is attracting buyers. It’s a great part of the world, one of your nice, tree lined and leafy green foothill locations.

“It’s also got some potential to upgrade so buyers can get into the suburb at a more affordable level and put their own stamp on it later.”

Others to watch from Ray White Norwood are 47 Alexander Ave, Campbelltown marketed through agent Linda Clemente and 45 Redward Ave, Greenacres being sold by agent Stefan Siciliano.