Residential
Explore
We had more than 17,506 people attend our auctions this week across Australia and New Zealand, with the average crowd size 37 people.
One of the most exciting auctions held last week was in Sydney, which was also the top sale of the week. More than 50 people turned out to see 32 McDougall St, Kensington to see the well maintained Federation home on 690sqm sell for $3.20M.
Ray White Kingsford principal Costa Kaparos said the Sydney home had been held by the same family for more than 100 years was on the market for the first time. ‘Carinya’, built circa 1913, was a three-bedroom Federation home on a 690sq m level parcel of land at 32 McDougall St, Kensington.
“The bidding opened at $2.65M moved up in $50,000 halted at $2.85M while the three active bidders then pushed it up to $3.2M. The buyers are a local family came from the next suburb over and they are trading up,” he said. “It’s extremely rare, probably one in a decade of this calibre become available,” Ray White Kingsford’s Costa Kaparos said. “To get a home in this condition, not altered with the features intact, and held by the same family since they bought the land in 1912 is quite interesting. It’s in pristine condition which is part of the buyer interest.” The home, built for a former Randwick mayor, had a price guide of $2.8M but sold for $3.2M. “The buyers looking were mostly families wanting to upgrade, all from the eastern suburbs,” Mr Kaparos said. “A lot already live within 1km of the property, and want a nicer home with more land.”
In Sydney’s west at 5 Kirkton Place, Edensor Park, there were 16 registered bidders vying for this huge family property, on a very sought after street.
Ray White Wetherill Park agent Blaz Dejanovia said of the 16 registered bidders, seven were active until the end.
“We had 120 people attend the auction on the day, and 105 groups came through the campaign. Almost all of the 17 bidders were locals buyers from between 10-15kms away," he said.
Ray White Auctioneer James Kerley knocked his hammer down at $1.560M for the winning bidder, a Korean family upgrading from a nearby suburb.
“Bidding opened at $1M and went in smooth increments for 10 minutes to get to the final price. It was a big home, very well cared for and impressive in scale and design.”
Ray White NSW Chief Auctioneer Alex Pattaro said the state’s average registered bidders remain high at four per auction with active bidders also at two per auction. “Crowd attendance is holding well with an average of 44 attendees The NSW auction team will continue to work along side the network to promote the importance of running the auction right through to auction day,” Mr Pattaro said. “The offices and agents that understand the auction process are running their stock to auction and finding more success either on the day or post auction.”
Ray White Queensland Chief Auctioneer Mitch Peereboom agreed that agents needed to provide “the right feedback, the right reports and offers prior to auction - it's critical”. “If the seller is not ready, it does not matter how many bidders we have, it isn't selling,” he said.
