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FIRST home buyers were out in force today, according to the Ray White Group who had almost 330 auctions booked across Australia on Saturday.
The leading auction group - who has a national auction market share of 25 per cent - booked a preliminary auction day clearance rate of 72 per cent nationally on Saturday with 46 people attending each auction on average - almost double the average of 2019 so far. On another positive note, the group's data recorded 3.3 registered bidders per auction.
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Ray White NSW Chief Auctioneer Alex Pattaro said there was higher open for inspection attendance and auction attendance across Sydney today. "We are definitely seeing a spike in confidence from first home buyers, and while the Sydney market is growing in confidence, the outer regions still have not felt the same effect but we expect this to shift in coming months.”
Game day kicked off early at 9am in Marrickville where a young couple who had been saving up their deposit by living above a parent’s garage in Artarmon for the last six years today bought 147 Addison Rd for $1.165 million through Ray White Erskineville | Surry Hills directors Ercan Ersan and Shaun Stoker.
Ray White auctioneer James Keenan took the first bid of $950,000 from one of the four registered bidders for the two bedroom Federation style terrace in front of a crowd of 30 people who were looking on to assess the current market.
“Everyone was active in the auction which lasted all up about 15 minutes. Confidence is good and our sellers are now looking to upgrade in the area while the buyers were a young couple from Artarmon who have living above a parent’s garage for the last six years so it was great to see them secure their first home,” Mr Ersan said.
Nearby in Darlington today, a small suburb of inner western Sydney right next to the University of Sydney, James Natoli and Shaun Burdo of Ray White Surry Hills sold this adorable Victorian terrace at 49 Calder Rd for $1.550 million.
In front of 70 people, there were seven active bidders keen on the fully renovated and stylish three bedroom terrace on 120sqm.
“Hardly anyone has even heard of Darlington but it’s a great little tightly held small suburb, only a few streets make up the suburb and there’s obviously a lot of investors given it’s so close to the university,” Mr Natoli said.
“In the end the buyers were a young couple I met 18 months ago who have been looking for some time around Paddington, while the sellers have upgraded to the Lower North Shore. There’s definitely a lot more confident buyers around but the problem is there’s hardly any stock.
"I have always said though that Winter is the best time to sell, as there’s no competition. We extended this campaign to five weeks to get through the long weekend and had more than 150 groups through it which is a great sign.”
It was another young first home buyer in his 20s today who bought315/10 Jacques Ave, Bondi Beach for $1.775 million through Sebastian Maxwell of Ray White Woollahra in front of a crowd of 30 people.
Mr Maxwell said the young owner occupier fought off a local investor. "There was more than 65 people through the oversized north-facing two bedroom apartment during the campaign with eight contracts issued along the way,” Mr Maxwell said.
“The apartments were built in 2004. It's a well-regarded building, plus it's just 50 metres to the beach. There’s definitely a lot more buyers out there and confidence is good but many are still very price sensitive. I truly believe Winter is an excellent time to sell. Last year I had a record sale in July and I never go away at this time of year to take advantage of less competition."
At Fairfield Park in western Sydney, another first home buyer bought the neat and tidy three bedroom brick home at 6 Falcon Cl for $665,000. Agent Tom Lu said two registered bidders turned up and they were both active in the protracted auction which lasted more than 30 minutes after opening at $550,000.
It was in Baulkham Hills in the Hills Shire, where local star operative Daniel Sarzano attracted a swarm of 19 registered bidders and 100 people to see 7 Katherin Rd sell for $982,000.
“There were 19 registered bidders and nearly all of them were first home buyers. The buyers were out in force today and this one was just 250m to a good local primary school,” he said.
“The new buyers are actually from West Ryde where they have an apartment which they will rent out and move here.
“During the campaign we had 166 groups through and some 48 contracts issued. Our market share keeps increasing but we need stock to replace it. To be honest, we are dealing with so many people right now who keep missing out or haven’t found the one that want yet. There’s no doubt that the buyers are out there right now.”
And on the South Coast, some 12 registered bidders - all of whom were active - had a crack at 271 Saddleback Mtn Rd, Kiama (above) which Ray White Kiama agent Robert Moore sold for $1.750 million to a Sydney buyer from the inner west.
"This incredible tightly held lifestyle property with an awesome view attracted the most amount of interest online in my whole 13 year career. We had more than 135 email inquiries which shows buyer confidence has been great lately," Mr Moore said.
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Ray White Victoria Chief Auctioneer Matt Condon said Winter was proving to be a great time to sell.
In Melbourne, some eight registered bidders - mostly all developers - turned out at26 Madeline St, Glen Waverleywhere Ray White agent Belinda Van Suylen said the property sold $1.768 million.
“Five people were active in the bidding and they were all local developers who were attracted to its huge land size at 727sqm with a 22m frontage. It’s perfect for someone to build a luxury home or even multiple dwellings,” Ms Van Suylen said.
The bidding opened at $1.2 million and moved up in $100,000 increments during the fast auction. The property was called on the market at $1.58 million as people were holding back and then it jumped up to sell at $1.768 million.
“Confidence has shifted quite dramatically in the last three or four weeks which is so great to see. Our office has sold everything today, and in fact we’ve seen huge buyer activity across the board. I know Winter is always my best time of year to sell. There’s no better time to sell than when there’s no competition.”
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In Brisbane, Ray White Albion principal and auctioneer David Treloar sold 30 Campbell Terrace, Wavell Heights for $1.304 million in front of 85 people in the crowd. There were seven registered bidders and four of them were active in the auction for the five bedroom fully renovated Californian bungalow with dual street frontage.
In the leafy western suburbs of Brisbane, Sonya Browne and George Hadgelias of Ray White Paddington had good success under the hammer at 51 Gerler St, Bardon. Principal George Hadgelias said there were eight registered bidders and they were all active in the auction for original pre-war Queenslander. Auctioneer Phil Parker took an opening bid of $755,000 and the auction sped along at a decent clip with $25,000 increments and then $20,000s to sell for $935,000.
But it was in rural Yass in NSW that the most heart-warming sale was held today. At 61 Cobham St, Yass on a crisp winter’s day, Ray White Rural Canberra | Yass agents Dominic Johns and George Southwell today sold this modest three bedroom home for its elderly owner for $372,000.
In a beautiful twist, the owner asked the young couple if they would keep her cat called Smoky, after all it was his home of 17 years.
“Of course, the buyers said yes and Smoky will welcome them when they soon move in. Our vendor today was the reason I get up and go to work every day, as we’ve helped her as the bank had forced the sale,” Mr Southwell said.
“We had seven registered bidders and five of them were active. The opening bid was $275,000, and it moved in increments of $25,000s to $350,000 and then $5000s, $2000s, and $1000s to sell at $372,000.”
Ray White Rural Canberra | Yass agent Dominic Johns said auctions were the only way to create competition to get vendors the best possible outcome in a timely manner.
“Today’s result yet again shows that Yass has kicked up since the election and it is also an honour to help a young family who have decided to make Yass their home which has been a dream for them for a long time.”
