Auction activity low this weekend

The largest property auction house in the country, Ray White Group saw only 244 auctions proceed today, as all of its auctions and open homes in south east Queensland and northern NSW were cancelled as the threat of the cyclone loomed large all week.

Of the auctions that did proceed today, the group cleared 67 per cent under the hammer with 3.7 average registered bidders, and of those 2.6 were active.

The top auction sale across the country was 36 Lombard St, Glebe which Matt Carvalho from Ray White Surry Hills sold under the hammer for $2.810 million.

And the auction with the highest registered bidders was in Adelaide where Tasos Hronopoulos of Ray White Campbelltown sold 10 The Parkway, Paradise for $1.017 million with 14 registered bidders.

According to the only real time property data in the country, NurtureCloud, Ray White agents met 21,589 groups through open homes today. This number is smaller than average, given opens were cancelled in SEQ. Ray White South Perth agent Cristina Spinella, met a whopping 67 buyers at the inspection of 10 McCallum Cres, Andross today.

Ray White NSW & ACT head of auctions Perry Edmondson-Clark said Sydney produced yet another “very strong Saturday of auctions” with five registered bidders on average, and 2.8 average active bidders. “This shows that the recent rate cut decision by the RBA has filled buyers with confidence,” he said.

“We certainly feel very lucky to be in a position to run our auctions and open for inspections today - our thoughts go out to our northern NSW businesses and Queensland counterparts as they navigate Tropical Cyclone Alfred and its aftermath.

“With just three weeks until the next RBA meeting, we expect buyer confidence to continue to grow, and remind sellers that now is a great time to enter the market and sell given the current reduced stock levels across most markets.”

36 Lombard St, Glebe

• Sold under the hammer for $2.810 million

• 2 registered & 2 active bidders

• Lead agent: Matt Carvalho - 0404 006 744

• Ray White Surry Hills

• Auctioneer: Tim Snell, Ray White NSW CEO

The opening bid for this four bedroom, three storey terrace with CBD views in Glebe was $2.4 million. The next bid was $2.6 million, and it increased to $2.7 million and then $2.75 million and then $2.8 million. It was then on the market and sold after two more $5000 bids.

Mr Carvalho said it was sold in seven bids to a developer from the North Shore who saw potential to improve the property. “My sellers are happy, they are downsizing,” he said.

48 Hampton St, Croydon Park

• Sold under the hammer for $1.452 million

• 5 registered bidders, 3 active bidders

• Lead agent: Manuel Roussakis - 0412 973 793

• Ray White Canterbury

• Auctioneer: Tim Snell, Ray White NSW CEO

Mr Roussakis said the house was owned by the Canterbury-Hurlstone Park RSL, and it sold above their reserve in front of a large crowd.

“The house is a knockdown and the new buyers are a local family with three kids who are going to rebuild their dream home on the site,” Mr Roussakis said.

“We had a range of bidders here today - investors, and people looking to knock down rebuild - so on the day a local family beat the investors. They know the area, they have family in the street and they have lived there for some time.”

8 Chauvel Ave, Milperra

• Sold under the hammer for $1.380 million (reserve was $1.3 million)

• 9 registered bidders, 7 active

• Lead agent: Abir Eddine - 0410 824 432

• Ray White Revesby

• Auctioneer: Bryce Bevan, Ray White

Ms Eddine said all the bidders were local families in the area. “My sellers are very happy, they are staying in the area and upsizing to a bigger house. The house needs work, it’s original but it is in a good location and a good size block. My buyers are a Chinese family and they were bidding with bidding card number 88. And the house is number 8 Chauvel Ave, Milperra so it’s a lucky house!”

29 Clarence St, Belfield

• Sold under the hammer for $2.060 million (reserve was $1.9 million)

• 10 registered bidders, 6 active bidders

• Lead agent: Jessy Antaky - 0404 247 623

• Ray White Parramatta Group

• Auctioneer: Alex Pattaro, Ray White NSW/ACT

Mr Antaky said in front of a big crowd the property was sold to a local family from Strathfield.

“We had a lot of local families out in force. My sellers (pictured above) are happy too, it has been in their family for 40 years. The new buyers plan to rent it out for a while until they get the plans in place to do a knockdown and rebuild their dream home.”

11 & 11a June St, Marayong

• Sold under the hammer for $1.154.444 (reserve $1.090 million)

• 9 registered, 5 active bidders

• Lead agent: Sam Yazdi - 0404 711 222

• Ray White Quakers Hill

In front of a big crowd of onlookers, local marketing agent Sam Yazdi attracted 9 investors who came out to buy this brick and tile house and a granny flat in Marayong.

“The winning bidders are investors from Hornsby. They were all investors actually as there’s dual income potential. The two properties are rented for $900 combined a week, and there’s great tenants who are happy to stay. My seller (pictured above) is happy. They are now going to buy a bigger investment property,” Mr Yazdi said.

The auction opened at $950,000 and travelled to $1.1 million. The second last bid was $1.153.333 and the winning bid came in at $1.154.444. “My sellers are very happy.”

1 Moonah Cl, West Hoxton

• Sold under the hammer for $1,110,500 (reserve was $1 million)

• 8 registered bidders and 4 active bidders

• Lead agent: Andrew Hanna - 0449 567 130

• Ray White Carnes Hill

• Auctioneer: Tim Snell, Ray White NSW/ACT

In front of a crowd of 40 people, Mr Hanna’s 90 year old seller (pictured above) wept with tears of joy. “My seller was so happy with the result. She was watching. It was an outstanding result,” Mr Hanna said. “The bidders were all mainly owner occupiers, and the winners were a young family, they are first home buyers who are renting nearby.”

Ray White Victoria and NT chief auctioneer Jeremy Tyrrell said it was a quiet market this week across the state with festivals, football and the Labour Day long weekend taking centre stage.

“There were a total of 140 auctions for the Ray White network in Victoria, with the down tick in volume only fueling competition among a growing number of buyers, as the average bidder attendance skyrocketed to 6.4 on average,” he said.

“This strong demand, as seen across many auctions this weekend, resulted in a very strong clearance rate of 81.1 percent.

“As we move past the long weekend, volume will steadily return and increase in the lead up to the school holidays and Easter break.”

16 Wimborne Court, Bayswater North

• Sold under the hammer $1,229,500

• 7 active bidders

• Lead agent: Amir Armani - 0412 008 721

• Ray White Wantirna

• Auctioneer: Jeremy Tyrell, Ray White

Mr Armani said the sellers were downsizing, while the new buyers are upsizing as they have a baby on the way.

1/29 Churchill Ave, Cheltenham

• Sold under the hammer $720,000

• 4 active bidders

• Lead agent/auctioneer: Kevin Chokshi - 0430 195 517

• Ray White The Bayside Group

“Melbourne is back! There’s such a high level of confidence in the air. There’s been a big shift in confidence lately where people are asking me all the time if the seller would accept an offer prior to auction. We had a lot of first home buyers here today. The winning buyer wants to do a renovation and then move in and be close to the local school,” Mr Chokshi said. “It’s perfect weather here this long weekend, blue sky, the sun is out and good crowd numbers.” Pictured above is the happy seller of 1/29 Churchill Ave, Cheltenham.

3/1a Garfield St, Cheltenham

• Sold under the hammer for $835,0000

• 4 active bidders

• Lead agent/auctioneer: Angela Limanis - 0414 664 374

• Ray White The Bayside Group

2/16 Mcguinness Rd, Bentleigh East

• Sold under the hammer for $926,500

• 4 registered bidders and 4 active bidders

• Lead agent: Jayden Irving - 0405 522 149

• Ray White Oakleigh

• Auctioneer: Jonathon Eaves, Ray White Oakleigh

“The bidders were three first home buyers and one upsizer who we recently sold for in Hughesdale and they won the auction today. They are going to do a small renovation and move in,” Mr Irving said. There was a crowd of at least 70 watching on. “There’s smiles all around, everyone is happy.”

18 Helvetia Court, Frankston

• Sold under the hammer $885,000 (reserve $780,000)

• 5 registered bidders

• Lead agent: George Devic - 0400 022 192

• Ray White Frankston

Mr Devic said this property was previously on the market with a competitor who were unable to achieve a result. “My vendors were selling their investment and a young woman has now purchased her first home. Everyone is very happy with the result.”

Ray White South Australia chief auctioneer John Morris said ‘Mad March’ was truly in full swing. “Adelaide is bursting at the seams with a plethora of entertainment, from theatre, comedy, dance, cabaret and a whole host of local, national and international acts all vying for attention but one place where we are not having any problems with getting crowds to is the auctions on the streets of Adelaide,” Mr Morris said.

“South Australia truly is still the envy of the rest of the country when it comes to all of our metrics, including registered bidders, 5.4 registered bidders per auction clearance right is in excess of 75 per cent meaning three out of four homes are selling on auction day for about 12 per cent above the highest offers prior to the auction.

“We've got active bidding on more than 95 per cent of all of our auctions.

“We've got investors back buying, which is increasing the numbers of registered bidders that we're having. We've got interstate buyers coming in, and it's because we live in one of the best cities. It's one of the best months to be here. And Ray White, yet again, is dominating the airwaves when it comes to auction numbers.”

19 Vynland Drive, Flagstaff Hill

• Sold under the hammer $960,000 (reserve $935,000)

• 6 registered, 4 active bidders

• Lead agent: Sam Conlen - 0432 379 733

• Ray White Flagstaff Hill

• Auctioneer: Sam Grover, Ray White

Mr Conlen said he had 40 groups through during the campaign.

“The bidders were all locals, and the winning buyer was actually a couple who I sold their home for a week and a half ago. They are downsizers.” He said they were on a video call from Lake Bonney in the Riverland region of South Australia.

“My sellers are happy with the result, they have moved just one suburb over and downsized too.”

7 Justin Ave, Northfield

• Sold under the hammer for $850,000

• 8 registered bidders, 5 active bidders

• Lead agent: Dalal Muhieddine - 0478 056 770

• Ray White St Peters

• Auctioneer: John Morris, Ray White

Ms Muhieddine said only developers came out today to buy this big flat block in the sought after suburb of Northfield. Pictured above are the happy buyers with Dalal Muhieddine.

In front of a crowd of 25 people, eight developers registered to buy the block with two self-contained residences already on the generous 700sqm block.

“We didn’t get a lot of people over to inspect the property but I did have a lot of inquiries. Builders don’t often come out to view though but I knew they would all come on auction day. “And they did. My seller is very happy, it was an investment for them and they have moved interstate to Melbourne now. My auctioneer John Morris was on fire today. He is so fast and so funny. I love working with him as his energy matches mine. Ray White is so lucky to have him.”

2A Smith St, Walkerville

• Sold under the hammer for $1.850 million

• 3 registered bidders, 1 active bidder

• Lead agent: Toby Shipway - 0413 600 919

• Ray White Adelaide City

• Auctioneer: John Morris, Ray White

This four bedroom home on 503sqm was built in 2023 by custom builder Desyn Homes.

“We had three registered bidders, and the owners had bought elsewhere and were committed to selling,” Mr Shipway said.

“There wasn’t a huge crowd who came but overall the market is going strong in South Australia. We had a lot of interest from buyers who still needed to sell their own houses which makes it hard to commit.”

12 Russell Terrace, Woodville

• Sold under the hammer for $1.20 million

• 2 register and 2 active

• Lead agent: Peter Kiritsis - 0411 501 520

• Ray White Woodville

66 Frederick Street, Welland

• Sold under the hammer for $1,425,000

• 12 registered and 3 active

• Lead agent: Peter Kiritsis - 0411 501 520

• Ray White Woodville

47 Matheson Avenue, Findon

• Sold under the hammer for $900,000

• 3 active bidders

• Lead agent: Alex Ghinis - 0455 386 102

• Ray White Woodville

Ray White Woodville had a great day of auctions, selling three of our four today. At 12 Russell Terrace, Woodville, a landlord sold their investment property to a young family of owner occupiers in the morning. Then more than 100 people turned out at 66 Frederick Street, Welland over the long weekend to see another family win the keys. “Character homes between the city and the beach are always so popular, and especially if they are un-renovated as people can see they can add value to them. There’s a lot of momentum in the market today, and there’s still not enough stock to meet demand,” said Ray White Woodville principal Peter Kiritsis.

Ray White Western Australia CEO Mark Whiteman said that on the day of the state election buyers were out in force at auctions and open homes across the state.

“Listing levels have risen slightly but remain tight at 4983 properties across Perth less than last week while sales were strong this past week with 1072 properties selling,” he said.

“The tight listing conditions in Western Australia mean auctions are still seeing a lot of interest, however today they elected to keep their paddles in their pockets.

“The encouraging factor being the number of offers being written post auction, all properties today have had considerable post auction interest,” he said.