Auction market confidence still high

RAY WHITE members are moving to private auctions - and from next week the network will move to 100 per cent digital auctions - and the group’s agents remain optimistic that quality bidders are still keen to buy property in this new physically distant environment.

This weekend is set to see a massive 438 homes go under the hammer around the country, with a high number of sellers still confident that auctions are the only way to go to get the best result.

With this in mind, Ray White auctions across the country will look a little different going forward to align with recommendations and legislation from the Australian Government.

For the remainder of the week ending 28 March 2020:

• All Ray White auctions will be marketed as “Private Auctions”, with attendance at the auction by registration only. If an auction is to be conducted indoors on the same day or evening as other properties are also being auctioned, each individual auction must be given a precise time and duration with appropriate crowd management.
• We are encouraging customers to bid remotely via technology rather than attending in person, providing them with access to digital technology such as Real Time Agent, Auction Now, Gavl, Auction Live, or Facebook Live. Alternatively, phone bidding is also available.
• From 28 March 2020 onwards, Private Auctions will be undertaken without bidders or other members of the community present. All registrations and bidding will be done online or over the phone.

Buyer interest hasn’t slowed down in New South Wales and Ray White Erskineville Director Ercan Ersan said the Victorian-inspired home at 43 Llewellyn St, Marrickville (pictured above) has attracted strong interest over the auction campaign.

“There have been 133 groups through with 23 contracts issued and the price guide is sitting at $1.4million,” Mr Ersan said.

“Interest is coming from owner occupiers looking to renovate and live in the property which is just across from Enmore park and great for young couples and families.”

Mr Ersan said the auction will be a private event with only registered bidders allowed in on the day as well as having live streaming and online bidding services on offer.

Ray White Epping New South Wales Agent James Kwon is gearing up for a great result on the weekend at 9 Grandview Parade, Epping.

“The house has attracted people who have the money to rebuild or renovate so we’ve had some investors and some who want to build on the original house,” Mr Kwon said.

“It should be good, we have had about 40 groups through and issued about 19 contracts which is very high for the area. We are expecting anywhere between five and eight bidders so I think we will have a 100 per cent success rate.”

The Victorian office of Ray White Coburg, is expecting two competitive auctions this weekend, both being sold through office Director Nazih Abbouchi. While the two Coburg properties at 47 Fowler St and 59 Rennie St (pictured above) have attracted different buyers, Mr Abbouchi said they will both be strong on Saturday.

“With Fowler Street, we have had a lot of interest from developers so email enquiries have overtaken inspection numbers,” Mr Abbouchi said.

“Being mostly developers, many want to build a new property however we have had one or two groups wanting to salvage the period features of the house.

“On the other hand, Rennie Street has seen a mixture of interest from developers and home buyers and while we’ve had 30 groups through, again email enquiries have been high.

“Interested buyers want to either keep the home or develop it by putting three or four homes on the large block.”

In Melbourne’s south east, Ray White Rowville Principal Adam Sorrell said there was no shortage of interested buyers for the three bedroom 20 Sheridan Avenue home in Rowville.

“The house appeals to a lot of different buyers including young first and second home buyers and a couple of downsizers,” Mr Sorrell said.

“We’ve had 60 groups through the property at our open houses and another 15 private inspections. So far, we have several registered bidders attending the private auction who have indicated that they will bid.”

“Things haven’t slowed down, the enquiries are still there as well as those looking to genuinely purchase.”

In Queensland, Ray White Alderley Agent Janine McDonald is representing 19 Hamson Tce, Nundah which she said has already seen 32 groups through.

“We’re seeing a mix of first home buyers and investors because it’s a very big renovator packed with charm,” Ms McDonald said.

“It’s on two lots on a corner so there is an option for boundary realignment and a subdivided block off the back. Not to mention it’s also in a nice pocket of Nundah surrounded by beautiful, quality homes.”

Also on the northside of Brisbane is the three bedroom 45 Ormond St, Ascot (pictured above) family home being represented by Sales Consultant Oliver Jonker of Ray White Ascot.

“So far we’ve had 29 people through our open homes, mainly families and older aged buyers looking to build something new but as of yet no investors,” Mr Jonker said.

“They want a good, solid base in Brisbane and Ormond Street is a really blue chip street in Brisbane’s northside. It’s a good foundation and you don’t get many post war homes that you can live in comfortably so it ticks a lot of boxes.”

Ray White Norwood has quickly become the auction office of South Australia and are excited for another big weekend of properties under the hammer. At 4/33A Fuller St, Walkerville, selling agent Trent Dudley said numbers through the apartment haven’t slowed down in the past few weeks.

“It’s mostly been middle aged buyers looking to downsize and at the moment we’ve had 35 people through which is more than usual for a property like this. There were 18 groups through the first open home so that’s an extremely good sign and we also had great numbers last weekend,” Mr Dudley said.

Mr Dudley also said the office will be strictly enforcing physical distancing measures and will now offer digital paddles along with disposable paper paddles.

"We are going to be doing everything we can during the private auction including 1.5m distancing, no contact, providing single use pens to register, lots of hand sanitiser and stationing staff around the property to assist with things like opening cupboard doors,” he said.

Also set to do well is Ray White Norwood Agent Stefan Siciliano’s two storey Hackney cottage at 3A Oxford St (pictured above) which he said has had 67 groups through the property during inspections.

“It’s a beautiful two storey place on the fringes of the city so we’re seeing a lot of young professionals but there’s been a good mix of buyers as well,” Mr Siciliano said.

Fellow Norwood Sales Agent Nick Borrelli is confident about the three bedroom, sandstone bungalow at 6 Hudson St, Prospect and sold brick character home at 87 William St, Norwood. Both properties have seen solid interest from buyers and will be sold at private auctions on-site.