Auction action from around the grounds

THE Ray White Group this week had a 24 per cent rise in the number of auctions scheduled to 421 auctions across Australasia, with 243 of them on Saturday.

The leading auction house booked a preliminary national auction day clearance rate of 72.5 per cent across its group and more than 9600 people attended a Ray White auction, according to it's own innovative market-leading in-house data system.

The Melbourne network was the standout with it’s preliminary early clearance of 82.98 per cent by late Saturday, and 82.6 per cent in Sydney. Average registered bidders was higher today at 4.3 per property today, compared to 4 per auction last week.

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Ray White NSW Chief Auctioneer Alex Pattaro said first home buyers and investors rushed back into the apartment market this week.

Ray White Rhodes had an exceptional result today with six registered bidders, five of whom were active and all first home buyers at G404/10-16 Marquet, St, Rhodes which sold for $740,000.

"Vendors running their auction campaigns right through until auction are seeing better results,” he said.

“The message is clear, if there is competition then proceed to auction," Mr Pattaro said.

The busiest auctions in all of Australia today were both in greater western Sydney at Baulkham Hills.

Ray White Baulkham Hills agent Ash Singh said there was just one reason that he had 30 registered bidders turn out to buy 23 Baulkham Hills Rd today which sold for $1.2 million.

“I always follow the auction process, it’s as simple as that,” Mr Singh said, who has only been a real estate agent since mid-2017 so he never knew the boom.

“I hold at least five open homes every week for every single one of my listings, not just one or two. I also have two opens every Saturday per listing.

“Our office is known as the hardest working auction agency in our area and we get the results.

“We create competition. (Ray White Head of Growth) Mark McLeod’s advice is that even if you don’t have much stock, open the stock that you do have, again and again. I do have stock, and I still follow the process as money is made face to face.

“I want to be that agent that never stops working.”

Mr Singh said the 3 bedroom house at 23 Baulkham Hills Rd was in the catchment for the Matthew Pearce Primary School which could add “$50,000 to $100,000” to a house’s sale price.

“Baulkham Hills is attracting a lot of families and people looking to upgrade. Many of our sales are education driven and buyers are willing to pay a premium,” he said.

“My sellers are over the moon. I had 292 groups come through their investment property and I issued some 107 contracts.

“I invited the whole street to come and watch the auction and they all know that I opened this house non stop.”

Meanwhile at nearby 59 Glanmire Rd, Baulkham Hills, there were 23 registered bidders vying for this renovated three bedroom brick home marketed by Ray White Baulkham Hills agent Daniel Sarzano. The property sold for $1.186 million today.
The top auction sale of the week for the Ray White Group was this landmark corner Woollahra building with significant development upside at 80-82 Queen St which sold on Tuesday for $15.1 million under the hammer.

The so called retail king of Queen St, Ray White Woollahra Commercial Sales and Leasing Partner Ben Vaughan said there had been a lot of local interest in this quality asset.

“We had eight registered bidders - all locals who could appreciate the quality of this terrific asset. The vendor is delighted, it was a great auction and great outcome.”

The building occupies an enviable corner location with three street frontages, located on 403 sqm of tightly held land. The property consists of four tenancies, two retail tenancies on street level Fineline Global Brands and The Bay Tree and the first houses Jocelyn Petroni & Roth Architects. The current net income $477,000 per annum (approx).

Meanwhile in Brisbane today, Ray White Ascot held their ‘Super Saturday’ and sold seven from 10 properties.

This tri-level masterpiece set high on an exclusive Hamilton street at 6 Mikado St, Hamilton was the top seller in Brisbane, and it sold for $2.350 million under the hammer of auctioneer Phil Parker.

“Of the six registered bidders, they came from everywhere. In fact we had three buyers from interstate, two from Sydney and one from Adelaide but the eventual buyer was a family from nearby Teneriffe,” said Ray White Ascot’s Dwight Ferguson, the top selling principal in Ray White Queensland.

Over to Kedron next, where 19 registered bidders were in the hunt for this original post war weatherboard property at 59 Eleventh Ave.

“It went crazy,” said Mr Ferguson of the auction in one of Kedron's most sought-after Avenues.

“The auction opened at $400,000 and moved up in $50,000s and then $20,000s to finally sell at $840,000 which is the highest price for land value in the Avenues,” he said.

“All sorts of owner occupiers, family home builders, and developers were on this one but it sold to a local family.” Pictured here is Ray White Ascot Associate Shenal Yigitbas.

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Ray White Queensland Chief Auctioneer Mitch Peereboom said the network had another exceptional week with the clearance well over 60 per cent.

“The higher end of the market is performing well and buyers are willing to compete and that is stemming from confidence in the Brisbane market, which bodes well for the future. Congratulations to all our members today.”

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Ray White Victoria | Tasmania Chief Auctioneer Matt Condon said buyer confidence was very healthy today.

“Inspections, open homes and crowd sizes were very healthy today. We’ve seen a spike in the numbers of active bidders per auction and we’ve seen a number of keen bidders today placing their opening bid higher than expected.”

Ray White Blackburn Director Peter Schenck said a local man fought off four active bidders to buy the three bedroom lowset brick and tile house at 17 Venice St, Mitcham for $955,500 for his family to move into.

“The buyer is second generation Italian and loved the fact it was on Venice St, and his dad who was at the auction actually know the builder who built the house, so there was a nice connection. He’s got two boys who go to school in nearby Box Hill and the seller is wrapped too as the price was $100,000 over their reserve,” Mr Schenck said.

There were five bidders keen on the property which had been a long-term rental property managed by Ray White Blackburn. “The underbidder flew out from Hong Kong but didn’t win in the end, in fact we have seen a huge spike in enquiry from Hong Kong in the last four weeks.”

Meanwhile, the breathtaking 700ha rural property called ‘Banool’ in the Snowy Mountains sold yesterday at auction for $3.8 million to a local farmer.

Banool is set in the quintessential Australian high country, it’s Man from Snowy River country, overlooked by the snow capped and majestic Mt Kosciuszko.

Proudly placed on a high point of Banool (the property is 665m above sea level) is a simple plaque which commemorates a not so simple accomplishment. It was from this point that intrepid colonial explorers Hume and Hovell first spotted the Snowy Mountain ranges, during their 1824 expedition to discover inland Australia.

Agents Mellisa Meli of Ray White Tumbarumba and Ray White NSW directors Bruce Birch and Andrew Starr marketed the property on behalf of vendors Liz and JB Bauer.

Saturday started off with bang In Adelaide when Nick Psarros, who owns Ray White Port Adelaide, confirmed why he is such a stellar auction agent with a cracker of a result in Bowden. He had more than 100 groups through the campaign at 91 Gibson St which sold for $652,00 with 12 registered. The auction sailed above and beyond the reserve in front of a large crowd.

There was more than 140 people in the crowd and the eventual buyer was from Tamworth.

“The vendors were thrilled. They are a young family who renovated the house but they have since built a new house nearby,” Mr Psarros said.

This meticulously renovated three bedroom bluestone villa oozed character and charm.

Ray White South Australia Chief Auctioneer John Morris said the buyers were out in force on the weekend with large crowds across the Adelaide’s auctions and a lot of interest at open for inspections. There was almost 80 per at each auction across the network today, and 3.6 registered bidders.