Auction wrap around the grounds

THERE was a definite dip in the number of auctions held last week compared to this time last year, but nothing like what the portals are reporting, that auction volume halved.

Across the Ray White network, members conducted 218 auctions last week for a combined clearance rate of 50 per cent. Ray White Victoria Chief Auctioneer Matthew Condon said it was a quiet week but the clearance rate held strong at 69 per cent in Melbourne on Saturday. “We had a slight decrease in the amount of volume of auctions held this week but Ray White Victoria maintained its market share at 19.5 per cent. We had an average week in terms of crowd sizes and active bidders - it was a normal size but we had a very healthy clearance rate of 59 per cent across the state,” Mr Condon said. “It will be very interesting to see what happens this week with the election but our data is suggestion that our buyers are not holding back.”

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127 Severn St, Yarraville[/caption]

One of the most exciting auctions of the week was in one of Yarraville's premier streets, where this immaculate four bedroom family home at 127 Severn St, Yarraville in Melbourne sold for $1.320M. There were six registered bidders and two of them very active in front of the crowd of 70 people. Ray White Seddon principal Peter Gindy noted the property was just a short walk from Cruickshank Park, schools, shopping and transport. Back in Sydney, Ray White NSW Chief Auctioneer Alex Pattaro expects it will be back to business after this weekend's federal election. “Our campaign clearance rate is just shy of 60 per cent in NSW due to the fact a lot of properties are selling prior. Vendor reporting remains our focus and the auction team are working hard and closely with agents on this part of the auction process,” Mr Pattaro said. “Looking ahead to May 25th, it’s looking busy once we get through the federal election weekend.”

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14 Archer St, Chatswood[/caption]

The top auction sale of the week for the Ray White Group was at 14 Archer St, Chatswood, NSW which sold for $2.260M. Ray White Narrabeen agent Mark Clarke said the price achieved was the highest price for a quality semi in the popular suburb of Chatswood. “A young family who have been renting nearby bought the immaculate property. The wife came through on the Wednesday and she loved it,” Mr Clarke said. “Funnily enough, the first man who came in to register was someone I had never even seen before, and at one point we had to stop the auction as another buyer wanted to register so we had to stop and allow him to get registered and pushed the price up to $2.225M.

“All up there was five registered bidders there, and four of them were active. The vendor is very happy with the result,” he said, who had 56 groups through during the campaign. “The property is in the golden triangle with the local Chatswood Chase Shopping Centre nearby, and it’s near to the schools and the train station is only a six minute walk away,” he said. The highest number of registered bidders for the week was out in Bossley Park at 40 Castlereagh St which saw nine registered bidders and it sold for $975,000 under the hammer. Ray White Fairfield principal Tom Lu said there were at least 30 people gathered in the front yard of this four bedroom split level brick home.“It’s definitely a lifestyle property with a formal lounge, dining and pool area. Four of the buyers were from out of the area, but it was a local who ended up buying it in the end,” Mr Lu said. “We had 32 inspections during the campaign and it was a fast and furious auction and a great result.”

Up in Brisbane, Ray White Queensland Chief Auctioneer Mitch Peereboom said a steady clearance rate proved buyers were serious. “It was great to see a clearance rate in Brisbane over the weekend of 45 per cent - this further confirms the ability of buyers to get themselves in a position to bid unconditionally at auction. We are seeing the vast majority of all our auctions in Queensland have active bidding.”

But it was in Highgate Hill in Brisbane where the most unusual result ever at auction was recorded.Tom Lyne, of Ray White New Farm, said he was less than hopeful of a sale when turned up to the auction of 169 Gladstone Street, Highgate Hill, to find two onlookers and no registered bidders. “Mid-auction, the neighbour poked this head out of his window to find out what price it was and then registered mid-auction and then promptly bought the house.” “It was the most unexpected auction I’ve ever seen.”