Auction wrap from around the grounds

First home buyers were out in strong numbers at auctions across Australia today, incentivised by the federal government’s latest scheme, according to the leading property group, Ray White.

This week it was announced that more than 5,700 Australians have signed up for the First Home Loan Deposit Scheme, which enables buyers to get into the market with as little as a five per cent deposit – and without having to pay lenders mortgage insurance.

Ray White members had 375 auctions booked this week, up 26 per cent up on the same week last year, and looking ahead, February 2020 so far sits at 2,131 auctions scheduled which is 25 per cent higher than last year which shows the confidence in the market. The national clearance as sitting at 74 per cent, late on Saturday, according to Ray White's own data warehouse.

Across Sydney, Ray White members scheduled 84 auctions scheduled this week, up a huge 74 per cent year on year. Sydney's preliminary clearance rate was 79 per cent late today across Ray White's auctions.

Ray White NSW Chief Auctioneer Alex Pattaro said first home buyers were out in their droves this weekend with an influx of people looking to get into the property market.

“There’s still a shortage of stock and many first home buyers believe now is the time to buy, believing prices are set to rise. There is a strong sense of competition in the market right now.”

Ray White Surry Hills Director Ercan Ersan said 9 Harrow Rd, Stanmore was the perfect package as it was made up of two apartments on one title. The property attracted four registered bidders who pushed the price to $2.460 million.

Each two bedroom home had been tastefully renovated to create a bright, spacious vibe that buyers instantly found relaxing.

“Of the four bidders registered, three were competing, and it was bought by an investor for his children to move into,” Mr Ersan said.

Meanwhile, 25/140-152 New Canterbury Rd, Petersham sold for $752,000 after a bidding war broke out between 13 registered bidders.

“That property is a good sign that the first home owner grant is working with so many first home buyers keen to buy," Mr Ersan said.

Meanwhile, Ray White Surry Hills Associate Director Matthew Carvalho said more than 80 people attended the auction of 9 Forsyth Street, Glebe after more than 180 groups came to inspect it over the four week campaign.

Some 12 registered bidders battled for one of Glebe's most desirable harbourside addresses and terraces.

The property sold under the hammer for $1.691 million, bought by a downsizer who will move in with his teenage daughter.

“It was a great auction with a lot of young couples interested. My vendors are so happy with the result. It’s been on the market for four weeks but it was originally a five week campaign and has been brought forward due to the interest,” said Mr Carvalho, pictured above with his vendors Richard and Shehara.

“Supply is still tightly-held in the Glebe area and everything we’re listing is selling well.”

But it was out in Wentworthville, in Sydney’s west, where Ray White Parramatta agents and brothers Amit & Ritesh Nayak attracted 43 registered bidders to 53 Dorothy St which sold for $1.460 million under the hammer.

For the second week in a row, the Nayaks ran a textbook auction campaign to achieve the highest number of registered bidders across the Ray White Group in Australia and New Zealand.

Ray White Victoria Chief Auctioneer Matthew Condon said it was an exceptional day of auctioneering across the group with beautiful weather bringing out big crowds.

“Based on preliminary data from the Ray White Group, we have seen a higher number than normal of active bidders . Buyers were very proactive with their bidding strategy and overall Ray White Victoria is expecting a very strong auction day clearance rate. today.”

​First home buyers were also out in across Melbourne today, according to Ray White Ferntree Gully agent and auctioneer Matt Morris. At 33A Gaydon Street, a successful 20 day auction campaign attracted 10 interested bidders, all first home buyers who all lived within 10 or 15 minutes ​to the​ the tidy three bedroom home near the Mountain Gate Primary School.

“It was fast and furious auction which lasted just 11 minutes after opening at $500,000 and moving up in $10,000 increments,” Mr Morris said.

“The home was called on the market at $600k and sold at $620,000. The owners are over the moon - they had subdivided their block and moved to another house and the back - while the new family will move into 33A.” “There have been a lot of first time home buyers coming through since the new year with the incentives available enticing them to hit the market with confidence in 2020.

Nearby at 22 Woodmason Road, Boronia these two first home buyers fended off investors to win the house for $761,000. The Ferntree Gully agent said it was “a cracker start at $600,000 which moved up in $10,000s between the seven active bidders. “It was back and forth, back and forth until the winning bidder came over the top to secure the home at $761,000.”

“The vibe is very confident because buyers are scared if they wait that they’ll have to pay extra an five per cent down the track. The confidence that built up in late 2019 has definitely continued into the new year and stock is still low. This time last year in the City Of Knox there were 712 homes on the market, now there’s 423 homes on the market today, which is 40 per cent less stock so now is the right time to sell as there’s not as much competition and buyers are out.”

South-east of Melbourne, Ray White Cheltenham director Kevin Chokshi represented the owners of 36 Wingrove Street, Cheltenham through a five week auction campaign.

“The property presented beautifully and has a really good floor plan with two bedrooms in the front and two in the back,” Mr Chokshi said.

“There was eight active bidders and the crowd of at least 250 people were spilled into the street. The buyers were all young families for this much-loved family home which was very well presented and sold for $1.2 million under the hammer. The owner is downsizing and thrilled with the result.”

“During the campaign we’ve had a lot of interest from young couples and families who are looking for their next step.

“This was the first family home for us of 2020 so we’re hoping it sets a benchmark for the rest of the year.”

Ray White Queensland Chief Auctioneer Mitchell Peereboom said it had been a great day across the leading network.

“The standout price bracket of the day is the $400,000 to $600,000 with multiple properties selling in that range with up to five registered bidders on each. We have also had some outstanding results in the $700,000 to $1 million range which is also performing beautifully. So if you are thinking of selling in the next few months you should talk to your local agent about market action in your area as we are seeing more buyers who are willing to compete in an unconditional transaction than ever.”

On Brisbane’s northside this original 1900s Queenslander at 23 Sixth Ave, Windsor attracted 13 registered bidders and sold for $1.165 million, according to Ray White Windsor Principal Alistair Macmillian.

“The current owner paid $1.030 million just six months ago they did nothing to it. We had a lot of developers looking at the site plus a lot of local families. The eventual winning buyers (pictured here) are a young couple who want to create the dream home on such a ripper spot. The Queenslander is a high set home on a decent sized block but the real feature is the full, unrestricted view of the city.” Ray White auctioneer Phil Parker was in top form at the spirited auction.

It was a good day under the gavel for Mr Macmillian who also sold 19 Boston St, Clayfield for $2 million on the dot. There was six registered bidders vying for the double cavity brick five bedroom home on 811sqm.

“The current owner built the house in 1990 and raised their family there and they have since bought a unit in Teneriffe to downsize," he said.

The winning bidders were a local family with young children (pictured above) who had been looking for two years for their forever home. This family home is a true blend of a classic Queenslander home with low maintenance living. Established gardens and a wraparound front deck ensure immediate street appeal.

In Adelaide’s western suburbs, Ray White Glenelg property sales consultant Rod Smitheram had a great result for this three bedroom 26 Thain Avenue, Findon property.

Pictured here is auctioneer and sales agent Rod Smitheram from Ray White Glenelg with Scott Thomas, the successful purchaser.

“It was a ripper of an auction after an excellent campaign. There were 12 bidders registered and six of those battled it out which eventuated with a sale price of $520,000, well and truly past reserve.”

After a bumper 44 scheduled last week in Adelaide, there was 13 scheduled this week, down slightly year on year however back to 20+ scheduled next week. With strong registrations per auction at 6.5 and three actively bidding, Ray White SA Chief Auctioneer John Morris said the market was very healthy.

"All the reports from the field today are that buyers are out, bidders are out and vendors are ready to meet the market."