Auction action from around the grounds

Upbeat momentum continued to sweep across Australia’s property market with the Ray White Group today recording its strongest preliminary auction day clearance rate in more than two years at 84 per cent.

The leading group had 320 auctions scheduled this week, with almost 200 of them today.

The Sydney network was the standout with it’s preliminary early clearance of 94 per cent by late Saturday, and 83 per cent in Melbourne. Average registered bidders was down slightly at four per property today, compared to 4.6 last week.

Ray White NSW Chief Auctioneer Alex Pattaro said Spring selling season was well and truly in full swing.

“Offices in the Ray White network are reporting significantly higher open for inspection numbers - being compared to the market we saw three years ago. Buyers and investors are starting to venture out of Sydney to areas like the Central Coast and the Illawarra region where auction activity and competition has rapidly increased," he said.

“We are seeing a higher influx of off market sales or silent sale stock creeping back in the market and this is certainly an area to watch over the coming months.”

Ray White Elizabeth Bay sales agent Tristian Bassey said his owners were “ecstatic” with the result of $2.970 million for their three bedroom 86sqm apartment at 5/4 Billyard Ave, Elizabeth Bay which they’d owned since 2016.

“We had five registered bidders and four of them were active. We had a lot of regional interest on this apartment and the winning bidder lives in Bowral and was looking for a Sydney base,” Mr Bassey said.

“For a unit that’s 86sqm the result was $35,000/m which has got to be close to a record?”

This building is always sought after as it had such an intimate harbour view as it’s only 40m to the water.

Ray White NSW CEO Jason Andrew today said it was great to see the current confidence flowing from the capital cities to other areas.

“The Ray White auction team has a lot of auctions out in front of us in September and October. For Super Saturday is shaping up to be September 28 so my advice to potential sellers is that the time to go is now as the buyers are back,” he said.

“I am keen to see what happens to the clearance when we have a lot more stock on the market and if the clearance doesn’t fall below 60 per cent then I believe we’re in good shape.”

Mr Andrew, also an award-winning auctioneer, called two inner city auctions today.

At the well presented two bedroom apartment at 24/168 Goulburn St, Surry Hills, there were 10 registered bidders and three of them active in the auction.

The apartment was marketed by Ray White Taylor and Partners sales agent Jeremy Brink and it sold for $1.220 million.

In South Coogee, Mr Andrew said the auction of 35 Coldstream Street opened at its reserve price and eventually sold for $2.350 million.

Ray White Maroubra | South Coogee agent Nader Hotait was marketing the property and highlighted its elevated position with unobstructed district and ocean views to the beach.

This three bedroom and four bathroom contemporary home was designed to maximise the light, space and sea breezes.

It was in Sydney’s inner west where the feel good story of the weekend emerged.

Ray White Surry Hills sales agent Moira Verheijen will sleep tonight knowing she helped change the life of her lovely vendors Beth and Paul Macdonald, both artists, at 21 Pleasant Ave, Erskineville which sold for $2.120 million today.

“We had four bidders in the end and all of them were active. The auction opened at $1.7 million and then it moved in $20,000 intervals and then $10,000s to $1.95 million and then it flew up to $2.210 million. My vendors are thrilled, and they said I have changed their life now.”

A local lady who had been looking for some time but had only seen the house once before bought the house at auction today. She arrived late and registered while the auctioneer was doing the preamble. The underbidder was an expat in Hong Hong whose mum was bidding on his behalf.

Ms Verheijen, who is famous for baking a fresh batch of choc chip or ANZAC cookies on-site at every one of her open homes, took 132 groups through the two level arty pad during its campaign and issued six contracts along the way.

“Pleasant Ave is simply one of the best streets in Erskineville as its a tight knit family-friendly street that is well known for its community spirit. I met a man during the campaign said he used to live in Pleasant Ave which he called ‘pleasant’ by name and by nature and it’s just so true.

“Baking cookies is my signature. I make the dough in advance and cut them up and put them on at my opens for my buyers and the home then smells devine,” said Ms Verheijen, a mum of three, who moved into real estate sales three years ago after a successful career in the travel industry.

In Melbourne, at 31 Witchwood Cres, Burwood East, Ray White Forest Hill Director and Auctioneer Hugh Francis was happy to complete this sale for his vendor. The impeccable three bedroom brick and tile house told sold for $1.106 million.

“The current owner had specified a leaseback agreement of 15 months at $450 per week as part of the contract of sale which effectively ensured a stable cash flow for the prospective new owners,” Mr Francis said.

There were four registered bidders and they were all active. “In the end the next door neighbour bought the house, so it was a great outcome.”

Ray White Forest Hill boasts an enviable auction clearance record of 93 per cent last month which is outstanding.

To highlight the speed of the market, Ray White Burwood Director Hans Liu said the six bedroom home at 9 Gillard St, Burwood sold four weeks prior to it’s scheduled auction date of today.

“In fact it sold within 48 hours. We loaded online on the Wednesday and it was sold by Friday. It’s literally in arm’s length distance of Deakin University and investors were excited.”

Ray White Victoria Matt Condon said crowd sizes were down a bit today due to the rainy weather but regardless Spring “is off to a great start with an exceptional week of auctions”.

“It was great to see a higher than normal volume of auctions scheduled this week and we had an increase in the number of properties selling prior. Active bidding was higher compared to last week and Ray White Victoria is expecting a very strong auction campaign clearance rate this week.”

In Brisbane, Ray White Carina sales agent Jose Peralta today sold 4 Aubrey Street, Camp Hill for his vendors and in front of a large crowd of 50 people.

“There was six registered bidders and five of them were active in the auction,” Mr Peralta said.

“The buyers were mostly locals and from surrounding suburbs. I had 70 groups through during the campaign and engagement overall is very good at the moment.”

The property was bought by a young family from Coorparoo who have two children and another on the way.

“They are upgrading and they fell in love with the perfect family floor plan and the fact it is right next door to the park.

“I also live on the park, and it’s perfect. It’s like you have all the benefits of being on acreage but you don’t have to mow it.” The sellers (pictured above) are moving across Brisbane to the western suburbs to be closer to work.

Ray White Queensland Chief Auctioneer Mitch Peereboom said the network was on track for a clearance rate around 60 per cent today.

“It’s been an outstanding weekend for Ray White Queensland and we are seeing some outstanding auctions. I have seen first home owner stock moving consistently today too. We are really seeing big crowds and buyers are prepared to complete at auction, unconditionally of course.”

On the beautiful Gold Coast, Ray White Broadbeach agent Troy Fitzgerald today sold 18 Tabilban St, Burleigh Heads for $1.031 million for his owners (pictured above).

The drawcard for the six registered bidders was the fact the four bedroom home was just a hop skip and a jump to Tallebudgera Creek, complete with a stunning view of Burleigh Hill.

“It’s been done up really well by the owners who are not moving too far away and the buyer has been living in London for the last six years, so she’s delighted to find her own slice of paradise.”

Meanwhile in Ray White South Australia Chief Auctioneer John Morris said buyers were out in force for the first official weekend of Spring selling season.

“The results I have seen today are all positive and for now the Adelaide market seems to be well and truly swinging into Spring.”

Nick Psarros and Penny Papazis from Ray White Port Adelaide today sold this neat home at 4 Almond Gr in the prestigious beachside location of Brighton for $785,000.

In front of a crowd of 70 people, six registered bidders battled it and and the eventual buyer plans to demolish the house and build his dream home for his family.

“Location was the key for this address as it's very close to the beach and cafe scene. It’s a lifestyle location for sure.”

The property had been in the same family for many years so it was a bittersweet sale for the vendor who has moved into care.

Newsrooms - click here to download some audio from our chief auctioneers across Australia and some photos from today.