Auction market going from strength to strength

How will this week’s auction market shape up after last week’s 2020 record breaking Super Saturday?

Last weekend was outstanding for Ray White with 361 scheduled auctions and a clearance rate of 72.8 per cent. The last Saturday of February topped off a great month that saw a 64.9 per cent clearance rate overall and 1,422 auctions conducted - smashing numbers from this time last year.

March will usher in similar growth with 201 homes set to go to auction on the first Saturday of the month.

For the first time in 2020, New South Wales will overtake Victoria in scheduled auctions with 95 properties ending their auction campaign this Saturday.

The office to watch will be Ray White Gladesville with auctions scheduled at Gladesville, North Ryde and Putney.

The three bedroom 28 Western Crescent, Gladesville home (pictured above) has already attracted over 100 groups which Gladesville office premier sales executive Neil Robson said is because it’s the kind of house that ticks all the boxes.

“We’ve mainly had families with young children through which is a strong target market in our area because of the quality primary schools in and around Gladesville,” Mr Robson said.

“But because the house is on a single level, we’ve also had quite a number of empty nesters come through which is actually a little less common in the suburb.”

Fellow Ray White Gladesville sales executive Barrie Brown is also expecting big things at 1 Gibb St, North Ryde (pictured above) where he’s had more than 80 groups through and offering a price guide of $1.290 million.

“There’s been a cross section of interest from young families and towards the other end a couple of downsizers who are attracted to the nice, quiet position in the cul-de-sac,” Mr Brown said.

“There’s also been a few buyers who want to knock it down and put in a brand new house.”

Also through Ray White Gladesville is the four bedroom 15 Watson Street, Putney property, represented by sales executive Joseph Mazar and being called by Ray White Victoria chief auctioneer Alex Pattaro.

Mr Mazar said he’s seen about 80 per cent families coming through with a few older couples attracted by the large block size.

In the inner west of Sydney Ray White Petersham principal Nicholas Arena is representing 21/30-34 Cobar St, Dulwich Hill (pictured above) which has had more than 100 groups show interest over the auction campaign period.

“The property has been really well received by first buyers, not only because it’s within their price range but also because of the work that has already been done on the apartment which has made it really appealing for that demographic,” Mr Arena said.

“The first home buyer sector of the market has been especially buoyant of late and we are seeing strong action in Sydney from them."

In the family friendly suburbs of Baulkham Hills and Caringbah South, Ray White agents Daniel Sarzano and Wendy Samrani respectively are expecting a great result at 20 Myallie Ave and 1A Babbin Place.

Not far behind New South Wales is Victoria with 67 auctions scheduled for the weekend. In Melbourne’s suburbs, Ray White Cheltenham director Kevin Chokshi is selling his second house on Wingrove St at number 23. However Mr Chokshi said he is seeing a very different interest coming through this property.

“The property is seeing interest from young couples and sub-developers looking to either overhaul the house or knock it down and rebuild,” Mr Chokshi said.

“What they are really after is the location which is on the same street as Cheltenham Secondary College and Le Page Primary School.”

Those looking to buy in the suburbs of Melbourne are in luck with 47 Daniel St, Burwood (pictured above) going to auction this Saturday through Ray White Balwyn director Helen Yan.

Ms Yan said the luxury, five bedroom home has had strong interest since the beginning of the campaign - especially from families and upsizers after extra space.

There will be 31 Ray White auctions in Queensland including Ray White Manly agent Jamila Bagnall’s quintessential Queenslander at 91 Grays Rd, Gaythorne.

“Everyone loves a Queenslander and they really hold their value which has been reflected in the interest we’ve had of around 60 groups through the property,” Ms Bagnall said.

“The house is still in original condition and all the character features are still intact including the leadlight windows, bathroom, fretwork and gables.

“We’ve seen a whole mixture of interest from couples to families and investors but the main thing is that they all absolutely love the house.

“Gaythorne is a sought-after, family friendly suburb and the thing about it is that it’s this tiny slice of real estate between Mitchelton and Enoggera that not many people know about and represents really good buying for that reason.”

In the south east Brisbane suburb of Wishart, Ray White Eight Miles Plains agent Anton Silaen is selling a three bedroom home at 11 Kinkuna St. Mr Silaen is said the location which lies in the sought-after Wishart State School and Mansfield High School catchments is bringing in large amounts of interest.

“Throughout the four week marketing campaign we’ve had 52 groups of buyers through with the first Saturday attracting 36 groups and more than 100 people - the whole street was full of cars,” Mr Silaen said.

“We’re getting interest from both investors and first home buyers alike who are eager to snag a piece of land in the area.

“The investors are thinking of knocking it down and the first home buyers are split with half wanting to knock down as well and the other looking to do a complete renovation.”

Martin Ma of Ray White Sunnybank Hills has had strong interest in 15 Bufalino St, Parkinson (pictured above) which will be going to auction this Saturday. Similar to Mr Silaen’s Wishart property, Mr Ma is seeing buyers interested in taking advantage of the local school catchment.

“The buyers for this property are mainly first home buyers and some investors,” Mr Ma said.

“The price in Parkinson is going up quickly so it’s particularly good for investors and first home buyers looking to get in early on a growing suburb.

“As for the house, the owner recently renovated so it’s great value with new timber floors, LED lights and ceiling fans.”

Other auctions to keep an eye on are 26/144 Dorville Rd, Carseldine and 2 Harrison St, Stretton, all being called by Ray White Queensland chief auctioneer Mitch Peereboom.

Moving on to South Australia, Ray White Norwood's Nick Borrelli has already had some outstanding results in the 2020 auction market and preparing for another great day with 3 Linden Ave, Northfield (pictured above). The agent said he’s looking forward to some bidder action from first and second home buyers.

“We’ve had 40 groups through so far, attracted by the great location near schools and parks as well as the large outdoor entertaining area and dual living spaces which you don’t find very often in this size of house,” Mr Borrelli said.

Still in South Australia, Ray White Norwood’s Stefan Siciliano said 3 Vasey St, Greenacres has been popular with developers in an area that has already had some great auction success this year.

Western Australian Ray White Dalkeith | Claremont sales executive Yvonne Furner is representing 4 Bournville St, Floreat this weekend and said she is expecting a good showing from both young families and downsizers.

“This property is unique as it has a beautiful park at the rear of the garden which is an added bonus to the property,” Ms Furner said.

Media contacts

Shannon Cook
Ray White Group
Media Advisor
scook@raywhite.com
0437 593 050