Auction wrap from around the grounds

RAY White’s auction crowd numbers swelled to more than 9000 people last week, with some cracking auctions results across Australasia. There was 266 auctions conducted last week with an auction day clearance rate of 55 per cent for the group, while in Sydney alone the clearance was 73 per cent on Saturday, and 65 per cent in Victoria.

Ray White Queensland Chief Auctioneer Mitch Peereboom said while the number of registered bidders was be down due to the Labour Day long weekend the statewide clearance rates remained solid. CLICK HERE TO LISTEN

He said the weekend got off to a flying start with some solid results at the corporate in-room auctions on Friday, which carried over to the on-site auctions on the weekend. “We are seeing buyers turn up to auctions who are actively engaged, they have got their finances ready and they have done their inspections prior to auction and that is giving our sellers the opportunity to sell unconditionally,” Mr Peereboom said. “We have seen a bit of a dip in the number of registered bidders but it hasn’t actually affected the clearance rate giving us a lot of confidence about the buyers that are there, in the market and we are seeing a lot of great results.

The top auction sale of the week was at 26-28 Donegal Cres, Sorrento. Super star sellers Sam Guo and Julia Kuo of Ray White Broadbeach sold the luxury waterfront five bedroom mansion under the hammer for $4.1 million to a buyer from Melbourne. “We took 20 groups through the property during its campaign," he said. It’s such a magnificent house on a 1961sqm site with a huge 61m water frontage and a tennis court on a canal in Sorrento, which is such a great area,” Mr Guo said. “We had 50 people attend the auction and it sold to an interstate buyer from Melbourne.”

Meanwhile Ray White Victoria and Tasmania chief auctioneer Matt Condon one interesting factor across the weekend was the weather. CLICK HERE TO LISTEN

“It was raining on Saturday and our crowd sizes dropped down about 30 per cent, so there was a lot less people around attending the auctions but we still saw a healthy number of active bidders and our clearance rate was a 68.5 per cent so it goes to show the weather had no effect on the result, but it dropped the crowd size a little bit, that’s all.”

Mr Condon called the auction at 12 Stanhope Court, Ringwood for Ray White Manningham agents Jarrod Tyler and Harry Lai. The three bedroom lowset brick and tile home attracted four registered bidders and sold for $680,000.

Meanwhile, Malek Younan and Phillip Mercieca of Ray White Gladstone Park sold 6 Glendale Place under the hammer for $715,000. There were three registered bidders vying for four bedroom brick highset home on 630sq m.

Ray White NSW chief auctioneer Alex Pattaro said the strong clearance rate across NSW and Sydney itself pointed to realistic vendor expectations. CLICK HERE TO LISTEN

“Our clearance rate is holding firm (63 per cent in Sydney) because vendors expectations have come back to be more in line with the market,” Mr Pattaro said.

“It’s been two years since the adjustment started and if vendors wants to transact now they understand the process better and we are seeing more stock shift on auction say and prior to auction day because of that.”

It was in Adelaide’s western suburbs that the group saw the highest number of registered bidders at 105 Carlton Parade, Torrensville. The deceased estate sold for $738,000 on Saturday with 14 registered bidders, six of the bidders were active.

Ray White Adelaide Group agent George Kargiotis had 55 groups through five bedroom character home in the three week campaign. “The property is on a street full of character homes. The property was so sought after given it was a corner block just 3kms from the CBD on 840sqm,” Mr Kargiotis said, who was also the auctioneer. “There was a lot of developers interested in buying the house, in fact at least four of the bidders were developers who had never even inspected it they would have knocked it over and redeveloped the site. In the end it was a neighbour from across the street who bought the home and they will rent it to their children and keep it as is. They were very keen to see the character of the street maintained. It was an exciting auction and the children of the owner are happy with the outcome.”