Auction numbers on the rise

AUCTION numbers are on the up for Australasia’s largest real estate agency heralding a return to normal for the real estate industry.

This weekend, Ray White will have 137 auctions - an increase of 47 per cent on last weekend - and if the 4.7 average registered bidders are any indication then those sellers braving the new world can expect to be greeted with multiple buyers ready to compete for their new home.

Stock remains low in many suburbs across the nation - in some places down by up to 40 per cent - but buyer demand is high, which means the balance is firmly tipped in favour of sellers right now on the property clock.

Data shows online traffic across the Ray White network of sites is in fact as its highest point ever. This includes traffic from raywhite.com, raywhite.co.nz, raywhitecommercial.com, raywhitegroup.com, raywhitebusinesssales.com, the office site network, and the agent site network.

What’s a weekend without a cracking auction from the inner-city Sydney team at Ray White Surry Hills | Alexandria | Glebe | Erskineville.

This weekend, office Director Shaun Stoker will be auctioning off the trendy Erskineville home at 26 Lambert St (pictured above) which was designed by award winning architect Edward Szewcyzk.

Buyers have been falling over themselves to inspect the four bedroom home 33 Cometrowe St, Drummoyne (pictured above) over the last three weeks.

Also heading for a good result in Sydney is the two bedroom character home at 61 Susan St in Annandale being auctioned onsite through Ray White Taylor and Partners Sales Walter Burfitt-Williams.“It’s an interesting property, we’ve been seeing a mix of young couples and also some tradies who are looking at it as a fixer upper,” Mr Burfitt-Williams said.

“It’s not for the serious developers as you can’t subdivide the land - just people who are looking to add a bit of value.”

Ray White Cheltenham Director Kevin Chokshi’s Saturday isn’t complete until he is putting up the sold sticker after another successful auction sale.

This weekend, you’ll find him both physically and digitally auctioning off the three bedroom home at 2/8 Narooma St (pictured above) in Moorabbin. The Cheltenham Director said interest has been good on the property which has a price guide of $790,000 to $860,000.

“We have had 49 groups through which is a really good number and I’m expecting between four and five bidders on the day,” Mr Chokshi said.

“Buyers have been a combination of young couples and a lot of downsizers because it’s on its own parcel of land with no body corporate making it very attractive.”

South of Melbourne, Ray White Rye Real Estate Agent Prue Jones said she is expecting multiple bidders on the two bedroom investor opportunity at 33 Mernda St, Rye.

The property has a price guide of $540,000 to $590,000 and has been attracting a wide demographic of buyers.

“We have had 65 private inspections. The first group we are getting young couples with small children which the size of the home dictates with the two bedrooms,” Ms Jones said.

“The second group we have is investors who want to buy the home solely for B’n’b use, this home is literally 500m to the beach so the area does attract a lot B’n’b investors.

“The third group are baby boomers who are downsizing out of Melbourne, they are wanting a flat allotment with a home they can live in or rent out and have as a weekender with the view of raising it or building a new home when they move out.”

Rachel Lawrie of Ray White North Adelaide said the team are heading into a great weekend with the online auction of 27 Essex St, Woodville Gardens (pictured above). The three bedroom home has already attracted eight registered bidders with Ms Lawrie confident it will draw up to 12 on the day.

“We have eight bidders locked in with another three all but confirmed then a possible twelfth bidder later in the week meaning it can only be through an online auction because we can only have 10 people onsite and we will be exceeding that by a mile,” Ms Lawrie said.

“Interest has come from all over, we have been seeing developers through to first home buyers to investors all wanting to take advantage of the location and potential of the area as well as the solid, well presented home.”

The Ray White Norwood team are looking forward to some more weekend online auction success with 15 Demeter Avenue, Athelstone and 1 Angelo St, Newton going under the hammer. Norwood Sales Executive Mannas Chan said he is expecting five registered bidders for the three bedroom home at Newton.

In Queensland, Ray White Redcliffe Sales and Marketing Consultant Catherine O'Keefe is representing the three bedroom, riverside home at 56 Stockham Rd, Deagon. Ms O'Keefe said they have had strong enquiry about the property that looks onto Cabbage Tree Creek.

"We expect to have a good result on the weekend and have been getting interest from buyers looking to knockdown the property and start fresh on the beautiful piece of land," Ms O'Keefe said.