Auction wrap from around the grounds

A JUMP in the number of registered bidders helped underpin the strong auction clearance rates experienced across Sydney and Melbourne last week, according to Australia’s largest property group, Ray White.

The leading network - which accounts for 25 per cent of the total auction market nationally - booked a preliminary auction day clearance rate in Melbourne of 71 per cent and 80 per cent in Sydney last week. More than 9000 people attended our auctions across Australia and New Zealand last week.

The White family’s network had booked 369 properties to go to auction last week across Australia and New Zealand, compared to 355 on the same week last year.

Ray White’s own auction data shows crowd numbers jumped to 40 people per auction nationally, and was as high as 50 people at each auction held in Melbourne.

Registered bidders at Ray White auctions hit a peak of 4.1 bidders on average nationally on Saturday but was as high as eight registered bidders on average at the group’s Sydney auctions on the weekend as market confidence rebuilds.

The top auction sale of the week was in Mosman at 28 Milner St where Ray White Lower North Shore Principal Bernard Ryan and Associate Director Colin Craig sold this three bedroom Federation cottage for $2.845M. There were four registered bidders and two of them were active in the auction which ended up selling to a local buyer. Mr Ryan said they'd take some 143 groups through the property during its four week campaign. "It's so rare to get a 1930s cottage like this so close to Mosman Village. The owner had been there for some 30 years before he passed away.

One of the most interesting auctions of the week was in regional NSW at Tenterfield where Ray White Tenterfield agent Libby Sharpe auctioned the historic Mason Lodge Building (circa 1900) at 369 Rouse St this morning. Ms Sharpe said the property passed in at $390,000 with conditional interest.

The building - with it’s pressed metal ceilings - is occupied by The Unicorn Horn Emporium, a rural antiques store filled with all kinds of historical bits and pieces.

If you had been on the lookout for a century-old German dray?

Or perhaps a butter churn, a French flower cart, or a wringer washing machine then this was where you needed to be today. Almost 600 items were auctioned today as the curio shop has now closed down.

Ms Sharpe said every single item was cleared in the six hour auction for a total of $23,000.

“It was a big day. The auction went for about six hours and everything cleared. The buffalo horns were a hot item which sold for $180 and the flower carts sold for $60 each,” Ms Sharpe said.

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Back in Sydney, Ray White New South Wales Chief Auctioneer Alex Pattaro said there had been a spike in confidence from first home buyers and investors this weekend, typically in areas where infrastructure was nearing completion.

“The winter months are typically slower for the Sydney market however we are seeing vendors rewarded for selling now as competition continues to increase week on week.”

In Bankstown, some 27 bidders registered for this deceased estate at 33 Wilkins St, Yagoona where Ray White Bankstown agent Joshua Nassif said it sold for $1.250 million.

In front of large crowd of 60 people, Mr Nassif said most of the buyers were locals and even neighbours.

Mr Nassif ran a textbook auction campaign and should be applauded for keeping in touch with all the underbidders of previous auctions in this local area.

“I conducted 100 physical inspections and left no stone unturned. Auctions create a sense of urgency in the market we know how to use the method effectively for our sellers. The buyer was a local gentleman who will initially use the property as a short term rental before developing the site as it has a 20m frontage and 885sqm block.”

In Surry Hills, Jack McGhee of Ray White Surry Hills sold 495 Crown St for $1.435 million.

Mr McGhee said there had been three architects through 495 Crown St looking at using the building as both office and home thanks to the mixed-use zoning.

Some 70 groups inspected the house (and no doubt admired the old outside loo) while considering the rear entrance parking potential.

“We had 80 groups there watching on and 12 registered bidders, five of them were active in the auction,” Mr McGhee said.

Ray White’s experienced auctioneer James Keenan took an opening bid of $1.1 million and it moved up quickly to sell at $1.435 million to a local property developer who lives in Bellevue Hill.

Mr Pattaro called the auction at 5/49 Forsyth Street, Kingsford for Ray White Kingsford agent Ferry Suwito which sold for $650,000 with seven registered bidders - six of them were first home buyers.

In front of a crowd of 50 people, the auction opened at the guide of $580,000 and eventually sold to one of the happy first home buyers.

The sellers were investors who had owned their rental property for four years.

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Ray White Victoria Chief Auctioneer Matt Condon said crowd sizes remained very healthy on Saturday at 50 people per auction on average in Melbourne.

“Volume of auctions conducted increased this week and buyer confidence is high. Based on Ray White Victoria’s preliminary auction data there has been yet another increase in the number of active bidders at each auction.”

Marco Riggio, sales consultant at Ray White Mill Park, said more than 80 people turned out to watch the auction at 11 Gloaming Court, Mill Park which sold under the hammer for $727,000.

Some 15 bidders, and five of them active in the auction, were drawn to the spacious three bedroom brick and tile property on the fringes of Bundoora.

“This family home offers the perfect combination of space and convenience,” said Mr Riggio, pictured here with the buyer and seller and his co-agent Daniel Nardella, who was also the auctioneer.

“Young families were very keen on this address as it's so close to the RMIT campus at Bundoora,” he said.

“The education facilities are a big drawcard in this area plus the Uni Hill Factory Outlets.”

In Adelaide, in front of a crowd of 40 people, Stefan Siciliano of Ray White Norwood sold 17 Warramunga St, Greenacres on Saturday for $400.000 after a protracted auction that lasted 45 minutes.

There were four registered bidders keen on the large timber home that was built in 1957 on a 702sqm allotment with a large street frontage of 17m.

Mr Siciliano said the classic timber framed home was ripe and ready for urban renewal and the new buyer - who lives in the same suburb - will develop the block in time. He said it was a great result for his vendor who was moving into care.

“The buyer will rent it out first while deciding on the development potential.” The auctioneer was George Kargiotis of Ray White Norwood.

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Ray White Queensland Chief Auctioneer Mitch Peereboom said it had been an excellent day under the hammer in Brisbane on Saturday.

“The top performing category today was property in the $500,000 to $700,000 range.”

Mr Peereboom auctioned for Ray White Aspley agent Ben Davanzo the three bedroom house at 61 Shamrock St, Gordon Park (pictured) which sold for $640,000 under the hammer.

He said there was a small crowd of onlookers and four registered bidders but they were all active in the action.

“The property sold to the next door neighbour who is looking towards the future for possible development options,” he said.

“In Greenslopes, agent Mel Christie from Ray White Coorparoo sold 10 Roseglen Streetfor $690,500 and that also sold to the next door neighbour, so that is the theme of the day.

“It’s probably fair to say people are looking to cement their portfolio in this market and it gives them confidence to own more than one property in Brisbane.”

In New Zealand today, business owner Julie Hanna of Ray White Raglan sold this beautiful four bedroom rural retreat on 5002sqm at 8 Three Streams Rd, Raglan in the Waikato District for $NZ1.250 million.

Ms Hanna said the two registered bidders were both from Auckland. They were attracted to the seaside area for its idyllic lifestyle and serenity.