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It was Ray White’s biggest weekend of auctions so far in 2023, with 377 properties scheduled to go under the hammer today.
Australasia’s largest real estate group recorded a preliminary auction day clearance rate of 72 per cent.
Buyers were out in force this weekend with the Ray White Group recording an average of five registered bidders and three active bidders.
The auction with the most bidders was 14 Tapscott Street, Wishart, with 27 registered bidders.
The top auction sale of the day went to 141 Boundary St, Clovelly which sold under the hammer for $6.05 million.
Bidding at auctions today was competitive with many smashing their reserves. On average those who sold at Ray White auctions today received prices 10.3 per cent higher than the highest offer prior.
SYDNEY
Ray White NSW chief auctioneer Alex Pattaro said auction activity was heating up.
“We can't stress enough that sellers need to get in the market now. Confidence is building which is demonstrated yet again by our clearance rate,” Mr Pattaro said.
“A snowball is starting to build and it feels like the market is starting to roll again.”
Sold under the hammer for $6.05 million
Ray White Ray White Maroubra | South Coogee - Phillip Elmowy
11 registered bidders, six active
The buyers were a local couple, while the home had been in the family of the sellers for almost 40 years.
“It’s a north facing aspect looking over the coastline, it was a great opportunity for people to rebuild or renovate,” Mr Elmowy said.
Sold under the hammer for $4 million - $200,000 over reserve
Ray White Drummoyne - Mario Carbone
Five registered, three active
Auctioneer: Alex Pattaro, Ray White
The buyer was a local living on the same street buying it for his daughter. It was the first time the home had been offered for sale since the early 1980s (vendor pictured above).
“It was in a great position. Properties like this don't come to market very often, so if you miss out you don't know when you’re going to get another opportunity. So when something like this comes up you have to throw everything you have at,” Mr Carbone said.
Sold under the hammer for $2.3 million - $500,000 over reserve.
Ray White Upper North Shore - Michael Dempsey
16 registered bidders, three active
The winning bid went to a young local family, while the sellers (pictured above) were downsizing.
Mr Dempsey said the home had attracted a lot of attention throughout the campaign.
“It was a reasonably sized house, I had 180 people through in the first three weeks,” he said.
“The first bid was $100,000 over reserve.
“The sellers' expectations were very realistic and they were stoked with the result on the day.”
Sold under the hammer for $3.22 million - $370,000 over reserve
Ray White Surry Hills - Ercan Ersan
Five registered bidders, three active
Auctioneer: James Keenan, Ray White
The buyers (pictured above) were a small family up-sizing from Newtown. The sellers were downsizing.
“The market in the inner west has been performing really well. There's really low stock levels which is countering any negativity around interest rates," Mr Ersan said.
Sold under the hammer for $1.69 million - $90,000 over reserve
Ray White Brighton Le Sands - Peter Tsekenis
Seven registered bidders, three active
Auctioneer: Alex Pattaro, Ray White
The winning bid went to a local couple looking to renovate and occupy.
“It was a great location, with a good land size and potential for renovation. It had lots of character which you could do up,” Mr Tsekenis said.
“There’s not much stock, so that’s driving demand for good properties.”
MELBOURNE
Ray White Victoria chief auctioneer Jeremy Tyrrell said buyers were out in force in Melbourne today.
“Buyers turned up in force across Melbourne to defy any doubts that an increase in property listings may have impacted the market,” Mr Tyrrell said.
“Ray White Victoria had a 34 per cent increase in scheduled auctions for the week, with 175 as opposed to 131 for the previous week.
“Preliminary clearance rates are indicating just over 70 per cent of properties have sold, with 3.2 bidders on average putting up their hands, and 82 per cent of all auctions conducted receiving bids”
31 Johnson Drive, Ferntree Gully
Sold under the hammer for $1.201 million - $181,000 over reserve
Ray White Ferntree Gully - Paul Scott
Six registered bidders, four active bidders
Auctioneer: Jeremy Tyrrell, Ray White
The winning bid went to a woman who was previously renting (buyers and sellers pictured above).
“The sellers were a couple who had been travelling Australia for the last two years, and decided to sell so they can continue to travel with a bit of extra pocket money,” Mr Scott said.
“We had over 100 groups in throughout the campaign.
“It was a well presented property, fully-renovated with no work required, and those are the properties attracting a premium.”
Sold under the hammer for $967,000 - $187,000 over reserve
Ray White Manningham - Harry Lai and Charlotte Quarmby
10 registered, eight active bidders
Auctioneer: Jeremy Tyrrell, Ray White
The buyers were a young couple of first home buyers, while the sellers were downsizing.
“It was a turnkey home with multiple living areas and a great outdoor area,” Mr Lai said.
“The market has been good for homes that don't need any renovations.”
Sold under the hammer for $956,000 - $126,000 over reserve
Ray White Carnegie - Peter Munt
11 registered bidders, six active
Auctioneer: Peter Munt, Ray White
The seller had owned the property for 40 years, while the buyers were a young family upsizing from a unit.
“It was a really unique, corner block on 720 sqm of land. It had a single dwelling covenant so it was only homebuyers looking to buy,” Mr Munt said.
“There’s a lack of stock in the area, and homebuyers really fell in love with it.”
Sold under the hammer for $1.298 million - $198,000 over reserve
Ray White Oakleigh - Jonathan Eaves
Seven registered bidders
The sellers (pictured above) were a family looking to relocate towards Sunbury or Gisborne, while the buyers were downsizers who had been looking to buy for a while.
“I sold the property to them in 2014 for $824,000, they were a young couple with one kid. They renovated the kitchen during covid. They have three kids now and they’re looking to move somewhere with a bit more land,” Mr Eaves said.
“The market has been pretty positive as of late. We had 160 inspections throughout the campaign. We’re finding things are performing well with an average of 3-4 bidders at our auctions.”
Sold for $1.29 million - $40,000 over reserve
Ray White Carnegie - Jin Ling
Seven bidders
Auctioneer: Peter Munt, Ray White
The buyer saw the property for the first time today and bought it for her parents who are looking to downsize.
The sellers had been living in the home for nine years when Mr Ling sold them the home. They were a family of five upsizing.
“The market feels similar to last year. It’s been holding its own. This is my 18th sale in Hughesdale in the last 12 months, 16 sold under the hammer at auction. Demand for homes in Hughesdale, especially well presented properties, is going very well.”
BRISBANE
Ray White Queensland chief auctioneer Gavin Croft said auctions today felt akin to the peak of the market in 2021.
“So far today I’ve had 100 per cent clearance and an average of 14 registered bidders per auction - extraordinary numbers almost like we’ve rewound the clock,” he said.
“While low stock levels are driving these results at the moment, it’s wonderful to see different buyer depth all the way down in some of our more affordable suburbs out towards Logan and Ipswich and towards the inner city today.
“From prices between $400,000 and $2 million, it’s a buoyant market. Those sellers who have chosen to come to market continue to be rewarded.
“It’s a very energetic market, from numbers through open homes, to registered bidders, through to clearance rates.”
Sold under the hammer $1.46 million - $175,000 over reserve
Ray White Brisbane City - Dean Yesberg
24 registered bidders, nine active bidders
Auctioneer: Gavin Croft
With a crowd of approximately 100 people viewing the auction, the winning bid went to a local owner occupier. The sellers had lived at the home for 21 years, raised their family, and were downsizing.
“The property was in a great location on the cusp of Windsor, Lutwyche, and Albion, close to transport. The home is an original Queenslander with plenty of potential to renovate as well as city views.”
Sold under the hammer for $1.23 million
Ray White Rochedale - Anton Silaen
27 registered bidders, eight active
Auctioneer: Phill Broom, Ray White
“The winning bid went to a family who are moving to Brisbane from Taiwan. They came in from nowhere and bid as soon as they heard it was on the market. The parents are already in Brisbane while the children are moving later,” Mr Silaen said.
“The seller was a lady who was downsizing to a unit in Highgate Hill. It’s a very well presented home with close proximity to Westfield Mt Gravatt.”
Sold under the hammer for 489,000
Ray White Marsden - Rebecca Cuderman
16 registered bidders, eight active
Auctioneer: Gavin Croft, Ray White
The buyers were a father and son builder team hoping to take on their own project. The seller (pictured above) was downsizing.
“It attracted attention given it was such a blank canvas but has the ability to hold a granny flat at the rear. That pocket of Marsden had a bad reputation for many years, but since Marsden State High won an award for the number one state high school it has really changed things,” Ms Cuderman.
Sold under the hammer for $680,000
Ray White New Farm - Claudia Marchand - 0431 287 057
Six registered bidders, two active
Auctioneer: Haesley Cush, Ray White
Winning went to an owner occupier with two dogs who just sold in the Gold Coast and wanted to buy in New Farm.
The seller was also an owner occupier who was relocating closer to her family.
“I have been in New Farm for 15 years and there are always more buyers, and more demand. Everyone wants to come and live in this area. It’s a great market, we’re very busy, and we love it!”
ADELAIDE
Ray White South Australia chief auctioneer John Morris said Ray White was dominating the auction market, with 36 per cent of auctions last week flying the yellow flag.
“The weather has been scorching hot in South Australia for the last week of summer, and so have the auction metrics,” Mr Morris said.
“In the last week we had an average of 7.4 registered bidders with 3.6 of those participating, resulting in an 81.5 per cent auction day clearance rate.
“Those sellers who choose to trust their agents and see their auctions all the way through to the day are seeing an average of 12 per cent on top of the highest offers prior.
“Sellers who choose auction over private treaty are also being rewarded with 21 days on market as opposed to 42.”
Sold under the hammer for $940,000
Ray White Port Adelaide - Nick Psarros
Six registered, three active
The buyers (pictured above) were a young family looking for a sea change and had fallen in love with the property. The sellers were a family who were moving south towards the foothills.
Good properties are still selling well and we’re getting good numbers through open homes, we had about 80 groups through this home during the campaign. Some buyers are a bit cautious but things are still quite positive,” Mr Psarros said.
Sold under the hammer for $735,000 - $65,000 over reserve
Ray White Prospect - Lawrence Cocca
20 registered bidders, four active
Auctioneer: John Morris, Ray White
The winning bid went to a local property investor, while the sellers were a local family who were upsizing.
“It was extremely well presented, it was a courtyard home which was fairly affordable being 10-20 minutes from the city. It was just a cute little place,” Mr Cocca said.
Sold under the hammer for $806,000 - $71,000 over reserve
Ray White Norwood - Jann Wilksch
11 registered bidders, six active bidders
Auctioneer: Sarah Bower, Ray White
The buyer was an investor who will use it as a rental property for student accommodation. The seller was also an investor who had been renting the property out.
“It’s very close to the city and also the beach. It appealed to a very wide demographic including investors, first home buyers, and upsizers,” Ms Wilksch said.
“It had been quite well looked after and had a small granny flat at the back. They will get a great return on it as a rental, but for an owner occupier it also had a very flexible floor plan.”
