Auction volume rising again

Ray White NSW state auctioneer Perry Edmondson-Clark said competition remained high across the state this week with 4.5 bidders on average across 285 scheduled auctions for Ray White NSW | ACT. “Auctions continue to be the standout with a 75 per cent clearance rate under the hammer this week. A grade properties continue to be the real winners and seeing buyers really fight as there isn’t another similar available,” he said. “B and C grade properties still have great activity, but perhaps some more movement is required from both parties to bridge a deal as there is more choice for buyers in this segment of the market.”

1/434 Windsor Rd Baulkham Hills

• Sold under the hammer for $1.206 million

• 7 registered bidders, 5 active

• Ray White Baulkham Hills agent Adam Heywood and Adam Dowd

• Auctioneer Perry Edmondson-Clark, Ray White

Darren Dowd has now sold this property three times in 12 years.

“In fact, the first seller was an old school mate of mine from primary school so I have been going to this property for 20 years. I know every single screw in the house,” he said.

“I am running on 100 per cent clearance rate this year, 24/24 this year, and 98.5 per cent for the last 18 years! I have a live document that shows all my auctions.” said the total auction professional who has been with Ray White for 24 years.

1/29 Norfolk St, Blacktown

• Sold under the hammer for $843,000 ($33,000 over reserve)

• 5 registered bidders

• Ray White Blacktown City sales agent Niman Kayastha

• Auctioneer Perry Edmondson-Clark, Ray White

Ray White Victoria Chief Auctioneer Jeremy Tyrell said the real estate market had settled into “a nice groove” as volume remains consistent at plus 100+ auctions for four consecutive weeks, with this week's total of scheduled auctions across the state at 236.

“Competition remains strong and overall buyer sentiment positive as 72.5 per cent of this week's auctions were snapped up,” he said.

“Across the grounds there were many reports of large crowds and multiple active bidders battling it out for their piece of the great Australian dream.

“Population growth and a continually tight rental sector are keeping demand for property high. This week saw sellers achieve (on average) a sale price 5.6% higher than reserve.

“These trends look to settle in over the next quarter to the end of the financial year.”

14 Alderbark Way, Greenvale

• Sold under the hammer $695,000

• 7 bidders, 7 active active

• Lead agent/auctioneer Phillip Mercieca

• Ray White Gladstone Park

Mr Mercieca said it was a fast and furious auction with seven active bidders all competing for this spacious four bedroom home in Greenvale gardens,

“They were all first home buyers on this nine year old house. There was a big crowd of around 50 people too who were out to watch the market action.”

3/30A Ormond Rd, Elwood

• Sold under $1,487,000 ($1.355 million reserve)

• 5 registered bidders, 4 active bidders

• Ray White Cheltenham agent/auctioneer Greg Brydon

Ms Handley said this property attracted a lot of interest with more than 35 groups through during its campaign. “There was so much interest as houses in the coveted Sanctuary Estate simply do not come up very often.”

Ms Handley’s sellers were a couple with a business on the northside of Brisbane, so were looking to move to be closer. “They originally purchased the home to keep the kids close with multigenerational accommodation but they are also now downsizing after their kids moved out.”

The happy buyers were no less than the unstoppable owner of Ray White AKG, Avi Khan and his beautiful partner Kaylea Sayer, who is a sales agent at Ray White Daisy Hill.

Avi Khan is the principal of Ray White Daisy Hill and Ray White AKG, with offices in Brookwater, Greater Springfield and Marsden. Avi also heads up Ray White AKG Commercial.

178 Newmarket Road, Wilston

• Sold under the hammer for $850,000

• 5 registered bidders, 3 active bidders

• Ray White Ascot agent Andy Flanagan

• Auctioneer: Phil Parker, Ray White

Mr Flanagan said this was his seller’s first home so they are upsizing to a bigger house.

“The buyer is a local lady who works nearby and she is happy. There was a large crowd watching the action. Mr Flanagan has had a 100 per cent clearance since the start of the year.

21 Annette Street, Logan Reserve

• Sold under the hammer for $758,000

• 13 registered bidders, 6 active bidders

• Ray White Marsden agent Jett Jones

Ms Jones said this sale broke the three bedroom suburb record for a residential block.

“According to recently released data, Logan Reserve is a top 10 net immigration suburbs and the results show why. The eventual buyer was local but faced fierce competition from a lot of interstate buyers. “

28 Dobell Avenue, Collingwood Park

• Sold under the hammer for $562,500

• 7 registered bidders, 5 active bidders

• Ray White AKG sales agent Leyton Robinson

“This property attracted a lot of neighbours with 50 people in the crowd witnessing two investors battling it out. Properties that are rented out are attracting great interest. This one was a great investment and ready to go.” Pictured above is Leyton Robinson and his buyers. Earlier in the day Mr Robinson also sold 9 Neumann Drive, Collingwood Park for $588,000 with three investors battling for the keys. “You can’t do better than a 100 per cent clearance rate day. And there’s a lot of investors out in the market who are active right now which is great.”

Ray White South Australia chief auctioneer John Morris said there had been spectacular scenes throughout the state yet again, finishing off what had been an incredible month "or you could call it an auction extravaganza”.

“We are up 35 per cent on scheduled auctions throughout the month of April, based on the same time last year this week, we're actually up 90 per cent. We had seven registered bidders throughout the month. Today, the preliminary clearance rate is at 86 per cent with 10+ registered bidders per auction and five of those participating in the action yet again’”

Ray White retains the lion's share of auctions throughout the month with 37 per cent auction market share. “So we are holding that top spot and by a long margin above our nearest competition, which sits below 10 per cent.”

28 Lindsay St, Plympton

• Sold under the hammer for $1,700,000 ($270,00 over reserve)

• 16 registered bidders, 6 active bidders

• Lead agent: Adam Keane - 0421 225 630

• Ray White Glenelg | Brighton

Records tumbled in Plympton today when 28 Lindsay St, Plympton sold for $1,7 million, the highest residential price in the suburb.

Mr Keane said it was a fast and furious auction with 16 registered bidders keen on this large family home built 14 years ago in the heart of Plympton by the owners (top right).

“All the bidders were local families looking to upsize. My sellers are over the moon as they have bought a block of land and are ready to move on after raising their two daughters there,” he said. This five bedroom house sits 842 sqm of prime land between the vibrant CBD and Glenelg.

11 Lorentz Ct Mawson Lakes

• Sold under the hammer for $741,000

• 11 registered bidders, 6 active

• Ray White Salisbury agent Winston Coxon

• Auctioneer: John Morris, Ray White

Mr Coxon said it was a battle of the first home buyers in Mawson Lakes today. He has more than 60 groups through the low set three bedroom home during its three week campaign. “It was all local first home buyers bidding today in front of a crowd of about 40 people. My sellers are happy as the price achieved was $91,000 above the owner's expectations.”

10 Elliott Ave. Holden Hill

• Sold under the hammer for $750,000

• 13 registered bidders, 7 active

• Ray White Prospect principal Stefan Siciliano

• Auctioneer: John Morris, Ray White

8 Eastview Street Brahma Lodge

• Sold under the hammer for $783,000 ($83,000 over reserve)

• 12 registered bidders, 5 active bidders

• Ray White Para Hills principal Brijesh Mishra

• Auctioneer: John Morris, Ray White

68 Armstrong Road Wilson

• Sold under the hammer for $583,000

• 13 registered bidders, 8 active bidders

• Ray White South Perth Principal Jannine Blum

• Auctioneer: Mark Whiteman, Ray White

Ms Blum said the active campaign was originally a private treaty sale method. The agent had 40 groups through at the first open and Ms Blum received 10 written offers for her seller.

“We had 11 written offers from $510,000 to $535,000 and they were all subject to finance and building inspections. So we converted the campaign to an auction on unconditional terms, on an ‘as is’ term, and the bidding started at $460,000 which went up quickly to hit the reserve of $520,000.

“There were all first home buyers on the property while my seller was an investor from Indonesia.”

Ms Blum said today showed the power of an auction. “There was not much between all of the offers we received prior so by converting to auction the power of competition increased the selling price for my sellers.”