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THANKS to our real time auction data collection we know that our Australasian network recorded a preliminary clearance of 54 per cent last week of the 229 auctions conducted.
The group's preliminary clearance rate in NSW stood at 58 per cent, compared to 54 per cent as reported by CoreLogic and 51 per cent as reported by Domain in Sydney. The Ray White network in Victoria cleared 65 per cent, compared to 59 per cent as reported by the data researcher CoreLogic, and 58 per cent by Domain in Melbourne. Our New Zealand network recorded a preliminary clearance of 54 per cent in the week ending July 29, 2018.
“More than 9300 people attended Ray White’s auctions in the last week, which was more than 16 per cent higher than the previous week, with more than 33 people in attendance at each auction,” said Alex Tilbury, Ray White’s media manager.
“Our data shows we had 2.9 registered bidders on average at each of our auctions and all up we had more than 716 active bidders this week up 15 per cent on last week which is a positive sign of buyer activity.”
In Monday's Australian newspaper, Ray White Group chairman Brian White said vendors had now accepted the adjustment in prices, and the group's attendance, bidding and success at auction rates were slightly higher than a month ago. The agency has a preliminary clearance of 60 per cent on Saturday. This meant more stock was set to hit the market for Spring, Mr White said. "Vendors are sensing there's not much point really waiting for a dramatic increase in value," he said. "Vendors are saying, 'If it suits me to sell my property why wait any longer?'
Three of our auctions were filmed live on Sky News on Saturday and broadcast internationally on the Australia channel - offering great free publicity to our agents and auctioneers.
Stanmore terrace that was broadcast on Sky News - was also written up in the Sunday Telegraph - after it sold to a downsizer couple from Concord who scored a beautifully renovated Stanmore home for $1.65 million at auction on Saturday morning. Ray White Surry Hills director Ercan Ersan also had four registered bidders — all of them active — for the three-bedroom, two-bathroom home at55 Salisbury Rd. And there’d been spirited bidding from the opening offer of $1 million — from the agent acting for the buyers.
A PROUD dad bought his 25-year-old University of Sydney student daughter, Cecilia Li, a Waterloo penthouse to live in for $1.18 million and after the gavel fell he asked: ‘What price did I pay?”Gun Ray White Surry Hills agent Jack McGhee, looked as happy as the vendors, Gordon and Molly Moffat, at the result. They’d bought the two-level apartment, which had a rooftop deck with northerly city views and a spa, at 50/22 Crystal St for $560,000 13 years ago. They’d done no renovations, apart from new decking around the spa by one of Sydney’s top builders, Declan McWilliams. Despite being unsure what he’d paid in the auction excitement, the proud dad, who lives in Killara and gave his name only as Peter said: “It’s not easy to find an apartment like this — it’s beautiful! “And this outdoor space is really unique.”
A YOUNG Lara couple who feared they would miss out on their dream home while holidaying in Bali have lucked out after it passed in at auction. The pair bought 10 Osterlund Court, Lara for an undisclosed sum around the $1 million mark immediately after Saturday’s auction. Ray White, Lara agent Matthew Wade said they had inspected the grand family home on 7300sq m of land three times but were forced to miss the big day. “They are a young married couple that have lived in Lara for many years,” Mr Wade said. “They have been looking for an acreage property like this for about two years and they can’t seem to find anything they like. “When I was talking to them they said they’d had a very restless night in Bali because they didn’t want to miss out.”
