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THE volume of auctions scheduled through Australia’s largest agency Ray White show no signs of decreasing despite December being only days away.
This Saturday, the leading group had 506 auctions scheduled to go under the hammer, cutting it close for many buyers and sellers wanting to transact before Christmas day.But just like many sellers, buyers weren’t fazed about the race towards the end of the year with Ray White recording an average of 4.7 registered bidders per auction nationally and three actively participating. Meanwhile, the national clearance rate came in at 75 per cent.Brisbane shone today, producing the top sale of the day with Ray White New Farm agent Tom Lyne selling 3 Nindethana St, Indooroopilly (pictured above) for $4.6 million to an interstate phone bidder after four of the six registered bidders participated.Nationally 7.2 per cent of the group's auctions sold this week to interstate buyers with Queensland leading the way where 25 per cent of all auctions sold being to interstate buyers.A Brisbane auction also topped the bidder leaderboard. Ray White Annerley agent Sam Menary sold 29 Orestes Rd, Yeronga for $1.41 million to a crowd of 22 registered bidders.
BRISBANERay White Queensland chief auctioneer Gavin Croft said there was still heat in the market in the run up to Christmas.
“I think the question around the continuation of the market is, ‘is it strong?’ I would say absolutely but there are certain elements that we are starting to detect,” Mr Croft said.
“While today, the numbers are slightly down off the lofty heights of nine registered bidders, those bidders that are coming in are competing particularly hard.
“It's the strength of the market which has remained. We are seeing good stock volumes coming right through until December 23. So again, a lot of decisions are being made by people in Brisbane and right across south-east Queensland, to get their selling decisions made before Christmas so they know exactly where they sit coming into 2022.”
Ray White Paddington - Judi O’Dea and Michael Kleimeyer
Sold for $2.07 million
7 registered bidders and 3 active bidders
“The auction went very quickly straight up over the reserve. It opened at about $1.68 million and that first bidder was the person who bought it,” Ms O’Dea said.
“They were a buyers agent acting on behalf of a family in Sydney who had just sold on Thursday. We knew about them and at one stage we were very worried that they wouldn’t be able to bid but it all came together. The auction really came down to two bidders, the underbidders were a family wanting to upgrade from Ashgrove.”
12 Canowindra St, Jindalee (the sellers pictured above)
Ray White Indooroopilly - Kirrilli Cobley
Sold for $953,000 - $73,000 above reserve
7 registered bidders and 4 active bidders
Auctioneer: Adam Downes, Ray White
Winning buyers are relocating from Sydney and bidding online
“We received really strong interest throughout the campaign and had 65 groups go through the home in the first week. We decided to do a three week campaign because with anything longer, we are finding we can’t hold the buyers,” Ms Cobley said.
“There’s no slowdown in Jindalee and this auction is further proof that it’s not happening. A lot of buyers, particularly young families, are coming from across the river because property prices have surged there and Jindalee is the closest western suburb to the city so it’s very accessible.”
Ray White Wilston - Jessie Hall
Sold for $1.61 million - $180,000 above reserve
Auctioneer: Phil Parker, Ray White
12 registered bidders and 5 active bidders
“The owners are a couple that are taking advantage of the current market, they currently live in Newport and this has been an investment for them for the past three years,” Ms Hall said.
“The auction was competitive with the bidding opening at $1 million. The winning buyers were a couple who are locals but moved from Perth previously. They almost didn’t make it as they were coming back from the Gold Coast and got there just in time.
“Alderley is still very active, I haven’t seen any slowing down in the market and I think today was evidence of that. The suburb is always going to be in very high demand.”
Ray White MetroWest Residential - Jo Langstaff (pictured above with Ray White auctioneer Phil Parker)
Sold for $1.32 million - 10 per cent above reserve and a street record.
19 registered bidders and 9 active bidders
“The winning bidders were first home buyers who had spent a bit of time educating themselves and it was very unexpected. There was also a bidder from the Cayman Islands who was very keen, he was the one who kicked off the bidding,” Ms Langstaff said.
“They buyers had been looking for over a year and were actively ready to buy for the last three months but hadn’t had any luck. They kept saying they were in shock.”
1 - 6/593 Brunswick St, New Farm
Ray White Ascot - Damon Warat
Sold on November 26 for $3 million
5 registered bidders and 2 active bidders
Auctioneer: Adam Downes, Ray White
The block of units went to a local buyer
“Listing unit blocks in their own right is uncommon but to get a block that has such a varied development upside is really unique,” Mr Warat said.
“It’s a good cash flow opportunity for now but I’m not sure what the buyer’s plans are for down the track. The interesting thing was that every single buyer had a different development plan. There is scope for land banking, different developments or just retaining the property as is as an investment.
“Heading into Christmas, the market has actually sped up from what we’re seeing, our office is on track to write a record month. It’s extremely busy, especially in the high end market.
“Interstate buyers are still showing a lot of interest, ready for when the borders open and I’m sure there’s going to be a flow-on effect.”
SYDNEY
Ray White NSW chief auctioneer Alex Pattaro said the last week of the spring selling season ended on a high, seeing record auction volume and strong property prices.
“Despite a few cracks appearing in the market, buyers are very keen to close the deal before the end of the year,” Mr Pattaro said.
“Sellers need to remember that these are still incredible selling conditions. There are still many buyers prepared to pay phenomenal prices if sellers are willing to listen to the market.”
Ray White Surry Hills | Alexandria | Glebe | Erskineville - Matthew Carvalho and Bianca Field
Sold for $2.3 million - $400,000 above reserve
Auctioneer: James Keenan, Ray White
9 registered bidders and 4 active bidders
“This was the hottest auction I’ve had for a while. The bidding was aggressive with the price going up in huge jumps, eventually going to an investor who plans to renovate the house,” Mr Carvalho (pictured above) said.
“We had good interest during the campaign but the price surprised me. It was a deceased estate and I’m really glad we could secure that result for the family. The good thing is between now and the end of the year there are no more listings coming on, so if buyers are serious about getting into the market this year then they’ve only got what’s available now. While buyers are spread more thinly across a higher number of listings, there are still good quality buyers in the market.”
Ray White Sutherland Shire - Matt Debreczeni and Megan Lawrence
Sold for $2.411 million
8 registered bidders and 5 active bidders
“The buyers were a family coming from just over the bridge with three kids. The parents bought the house without them knowing. Meanwhile the sellers were a couple relocating out of Sydney,” Mr Debreczeni said.
“There was some pretty spirited bidding during the auction. It was popular because it’s a unique home in the sense that it’s a single level design with heaps of storage - that’s pretty rare in this area. There’s lots of stock coming on the market at the moment, when this property was listed there were only seven homes in the suburb for sale but this week there are now 22. There’s still plenty of genuine interest but realistically buyers are mostly people who need to buy before Christmas. Those who can wait are holding off until next year.”
Ray White Rockdale - Nicholas Economos and Adam Karanfilovski
Sold for $1.4 million
9 registered bidders and 4 active bidders.
Auctioneer: Ray White NSW chief auctioneer Alex Pattaro
“The buyers (pictured above) were from the inner west, a couple with another baby on the way. They are planning to live in the home and loved it because of the cute backyard and recent renovations,” Mr Economos said.
“Throughout the campaign we received interest from both local and out of area buyers but most were planning to live in the house. The result really surprised me today. When it came to the auction, there was obviously some really strong competition and you could see the interest which pushed the price up.”
MELBOURNE
This week Melbourne and Victoria saw one of the busiest auction weeks on record. The Ray White Group scheduled well in excess of 250 auctions this week as buyers and sellers take advantage of strong market conditions and make up for lost time from Melbourne’s extended lockdowns. Ray White Victoria and Tasmania CEO Stephen Dullens said it’s clear the market has now returned to a “COVID-19 normal”.
“It has been incredible to see the number of new listings coming to market across October and November, and just how much activity has returned to the market in such a short amount of time,” Mr Dullens said.
“Across Victoria, Ray White had its strongest month on record during October - and early signs are that this record will once again be broken in November.”
With many customers returning to the market, families were keen to transact prior to Christmas and get on with what will hopefully be a more “normal” year in 2022.
“Families are once again able to plan and make those big property decisions as the market again functions normally, and we’re expecting a strong level of activity right up to Christmas and starting again early in the new year,” he said.
Ray White Oakleigh - Leigh Kelepouris and Robert Cincotta (pictured above calling the auction)
Sold for $2.27 million - $320,000 above reserve
6 registered bidders and 5 active bidders
“The seller bought the home a few years ago with plans to knock it down and build his dream home but things changed and he bought elsewhere. He was hoping to break even but walked away with a great result,” Mr Kelepouris said.
“The family (pictured below with Ray White Oakleigh agent Eddy He) who bought it, we’d known them for a little while because they own property in Oakleigh. They plan to eventually knock it down and rebuild their dream home or complete a sizable renovation.”
Ray White Epping, Vic - Con Tsalkos
Sold for $1.181 million
8registered bidders and 5 active bidders
“The buyers were locals from around the corner. They were a family of five and had been in the market for a long time. They had probably been looking for the past six months and just couldn’t get anything. They had their heart set on this one so they are ecstatic,” Mr Tsalkos said.
“I think in the top end of the market there’s no drama, buyer activity around upsizing and second homes is still very strong since there’s not a lot around.”
ADELAIDE
Ray White SA chief auctioneer John Morris said there are Super Saturdays when it comes to auctions, and then there is the Super Saturday - today, with the most auctions called on record.
“There are 358 auctions scheduled to go ahead this week in our great state and 25 per cent of those are flying the yellow flag as we head to Saturday,” Mr Morris said.“There have been several auctions throughout the week already and we've had an incredible clearance rate of almost 90 per cent and the average registered bidders are eight. I'm sure that that will either stay the same or increase over today and tomorrow.“Everything is smashing records. I know I've said it before, I sound like a broken record saying we're breaking records, but we are and it just doesn't look like it's going to stop this side of Christmas.
Ray White Marion & Brighton - Matthew Martin and Susan Martin
Sold under the hammer for $704,000
8 registered bidders and 3 active bidders
Auctioneer: John Morris, Ray White SA chief auctioneer (pictured above calling the auction)
“The buyers were actually a couple that saw it quite late in the campaign. I organised a private inspection yesterday with them. They are a lovely family with a young child and were really happy with the result,” Mr Martin said.
“I received a fair bit of interest on this one and had good numbers through our open homes. On this one, I had an interstate investor, a lady that I believe was looking at it from a downsizing point of view and then one of the active bidders, who had already missed out on a couple properties with me before, was a young first home buying couple. The market is still tracking very strongly which you can see from today. This was a standout price for that type of product.”
Ray White Norwood - Mannas Chan and Adrian Patterson
Sold for $2.21 million
10 registered bidders and 3 active bidders
Auctioneer: John Morris, Ray White SA chief auctioneer
“The buyer was an interstate purchaser from Sydney. They were attracted by the suburb, Norwood is always popular with good schools, amenities and close to the city,” Mr Mannas (pictured above with the buyer) said.
“The land size and quality were also big draw cards, it’s a flat block over 1081sqm. For that reason, we had a lot of interest from developers throughout the campaign. The result was a bit unexpected as the highest offer prior to auction was $1.9 million.”
