Auction wrap from around the grounds: Sydney's Super Saturday

THOUSANDS of buyers were out in force across Ray White's 205 scheduled auctions on the weekend as Australasia's leading real estate group reported a preliminary clearance rate of 71.2 per cent.

Ray White data showed 40.1 people on average attended an auction, with the number of registered bidders up to 4.8, yet another week-on-week increase as competition for properties hots up.

It has been an outstanding day for Sydney with preliminary data showing an excellent auction day clearance rate of 90.9 per cent, with an average crowd size of more than 50 and 8.4 registered bidders per auction, on average.

The top sale of the week was recorded by Commercial NSW - Sydney City Fringe principal Kristian Morris and sales associate Lachlan Palm who were blown away by the auction of this rambling warehouse in Leichhardt which was snapped up by a local boutique developer on Saturday.

The prime whole building with triple street frontages at 124 James St, Leichhardt sold for $3.335 million, which was the top auction sale of the week for the entire Ray White Group.

The Glebe-based inner city specialists at Ray White Commercial NSW - Sydney City Fringe ran a textbook auction campaign and attracted 11 registered bidders, and six of them were active in the auction.

Principal Kristian Morris and sales associate Lachlan Palm (pictured here) issued 43 contracts on the property before its auction date, after receiving some 175 enquiries.

“The property sold for $3,335,000 which was above the reserve. Competitive bidding opened at $2.7 million. The owners are very happy. The property was bought by a local boutique developer," Mr Morris said.

"It’s a great result, considering it was on the market with another agent for nine months. It’s a testament to the auction strategy supported by a well executed marketing campaign and editorial support.”

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Ray White NSW Chief Auctioneer Alex Pattaro said the time was now to put your property on the market to take advantage of increased buyer demand. "The low level of stock means the market is a vendor's paradise because when a property comes up for sale, the competition is fierce as demand is outstripping supply," Mr Pattaro said.

"Now's not the time to be sitting on the fence if you're thinking of selling. Inspection numbers are up, crowd attendances are up and the number of bidders are up, so now's the time to act.

"And it's not just select pockets, I'm hearing on the ground that it's the same in multiple locations. The appetite for bidding and buying is back and people are willing to pay to get their property."

The NSW success story began in Newtown where Ray White Northbridge Sales Executive Denise Woo and Director/Principal Rose Farina led the $2,316,000 sale of 193 Wilson Street (above).

"The property generated a huge amount of interest throughout the campaign with more than 125 groups through the opens, culminating in three active bidders on the day," Ms Woo said.

"Bidding started at $1,900,000 and it took more than 20 bids to climb up to its final sale price, which was over the reserve for the vendor.

"Although the market here is strong, this house was pretty unique in that it came with a parking space, a studio downstairs and had been extended to make it a four-bed five-bath, in total.

"The studio allows for dual living and the professional couple that bought it loved the fact the bedrooms had their own private bathrooms."

Big sales were contagious, and it carried on as Ray White Earlwood Director Dean Vasil and Principal Peter Vasil sold 5 Gretchen Avenue (above) for $1,825,000, $125,000 over the reserve.

“It’s the first time in more than 50 years that this home has been available on the market and the interest in it was clear to see with 14 registered bidders,” Mr Dean Vasil said.

“Stock is really tight at the moment so competition for properties - especially large ones on big blocks like this one - is extremely healthy.

“Now is the time to put your property on the market. I had more than 80 groups through so the demand and appetite is there from buyers.

“The property was bought by a young Greek family that will be moving up from Lugarno for convenience of work for them and school for their kids.”

The success continued as Ray White Castle Hill Sales Executives Joel Simpson and Daniel Llamas sold 27 Chiltern Crescent (above) above the owner's expectations for $1,657,500.

“There’s a lack of stock in Castle Hill at the moment so that means properties are going for premium prices, especially in a beautiful street like Chiltern Crescent,” Mr Simpson said.

“If anyone is thinking of putting their property on the market then now is absolutely the time to do it. It’s a great time to be selling your home.

“The road was so busy that we had to close it for the auction. We had around 250 people there and we had competitive bidding between the 16 bidders.

“Auction is the best way to sell your home because of the competition it generates. Bidding started at $1,300,000 and climbed all the way up to the sale price of $1,657,500 - the vendor was very happy as it sold above their expectations.”

Rydalmere was next in line for a mammoth sale, as Ray White Parramatta Associate Director Broderick Wright sold 10 Yeramba Place (above) for $1,260,000 - $200,000 over its reserve.

“This particular sale is a real sign that the market is back with 10 registered bidders and two active hammering it out as the property smashed its reserve,” Mr Wright said.

“It’s the first time in over 50 years the property has been offered to the market and the locals really came out in support of the vendors with more than 100 in attendance.

“The winning bidders were a young couple and the sale proves that auction really is the best method of sale for vendors. Good quality properties will attract quality bidders.

“The home was in a good-quality pocket on a quiet street and was in walking distance to shops and the local rail station, so it had everything you could want.”

The sun was certainly shining as Ray White Summer Hill Principal Erik Polsek and Director Lisa Polsek led the $793,000 sale of 8/65-67 Kensington Road (above).

“We had more than 100 people through the opens - and with limited stock in the area - competition is fierce for properties and that’s why it sold $33,000 over reserve,” Mr Polsek said.

“We had 11 registered bidders on the day with five of them active, so there’s no doubt bidders are out there and willing to spend the money on good properties.

“The good internal size, two balconies, lock-up garage and the fact there was no direct impact from units on the other side were real drawcards.

“We had a good mix of first time buyers and investors but it actually sold to a lovely lady from North Shore. Everyone was very happy with the result.”

Ray White Victoria and Tasmania Chief Auctioneer Matthew Condon said it was another strong week of auction results.

"On the ground we're seeing healthy crowd sizes at all auctions and the average amount of active bidders per auction continues to be strong," Mr Condon said.

"It's great to see that when a buyer arrives at auction, they're arriving with the intention to bid, and already have a clear strategy in mind."

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That was certainly the case in Elwood where Ray White Southbank Principal Andrew Salvo and Sales Manager Michael Pastrikos sold 1/5 Goldsmith Street (above) for $1,005,000.

“The key point for this sale is the identical property next door sold with rival agents for just $850,000 back in January - so we achieved a great result for the vendor,” Mr Salvo said.

“We had more than 150 people through the opens and issued 50 contracts as buyers fell in love with the character and decor of the property.

“The buyers were a father and son combination who bought the property for the elderly mother, but it was mostly young couples that we had through.

“The auction campaign generated a huge amount of interest and that equated to 18 registered bidders on the day with the six active pushing the sale price $85,000 past the reserve.”

It was a case of double delight for Ray White Ferntree Gully Director Ben Thomas and Sales Assistant Jimmy Shan with two properties smashing their reserves within hours of each other.

11 Parkview Drive (above) in Ferntree Gully had 15 registered bidders, 10 of which were active, and the property sold $81,000 over its reserve price for $706,000.

9 Trefoil Street (above) in Ferntree Gully made it two from two for the duo, as eight active bidders battled it out, resulting in a $748,000 sale that was $48,000 over the reserve price.

"In some areas, stock levels are down 45 per cent on what they usually are so when properties hit the market, the competition for them is remarkable," Mr Thomas said.

"I had around 150 groups through 11 Parkview Drive and that's easily the most I've ever had in my career coming through a property.

"I can't emphasise enough that if you are thinking of selling then now is absolutely the time to get it on the market because of the low stock levels.

"The number of registered bidders and the competition created through the auction process is helping vendors achieve excellent results for their properties."

Ray White QLD Chief Auctioneer Mitch Peereboom said the Sunshine State had seen some really great results with strong bidding throughout.

"Multiple properties have had multiple registered bidders and that shows a strong marketplace where bidders are willing to compete," Mr Peereboom said.

"It was a strong day in particular for the unit market with a number of excellent results and that really shows the confidence buyers have in the unit market."

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But it was a beautiful Kedron home that stole the show as Ray White Wilston Sales/Marketing Agent Brooke Copping sold 132 Turner Road (above) for $1,150,000.

"We had five registered bidders on the day and the three that were active pushed the price from the opening bid of $800,000 all the way up to the final sale price," Ms Copping said.

"The large block size is unusual for the area and the family that bought it from the Sunshine Coast really appreciated the charm and the character.

"The market is really good at the moment with heaps of people through the opens, so I'd urge anyone thinking of selling to take advantage and put your home on the market now.

"Great properties will demand a really great price, and when you have a full marketing suite that includes online and print advertising, that's a recipe for success."

It was a celebration for Ray White Broadbeach Sales/Marketing Consultant Brad Payne, who sold his first auction property for the group for $1,085,000 at 2/28 Evandale Crescent, Miami (above).

“Of course it’s always a great feeling when you sell your first one for Ray White under the hammer, but I’m more delighted for the older couple from Brisbane who bought it,” Mr Payne said.

“The property is only two years old and is within walking distance of the beach and the shops, so it’s perfect for that low maintenance lifestyle.

“It’s a tightly-held area in Miami and the stock levels are also tight so that means as soon as a property becomes available there is a huge amount of interest.”

And the success made its way to South Australia where Ray White West Torrens Principal Laurie Berlingeri and Sales Associate Raffaele Spano sold 40 Charles Loader Drive (above) for $755,000.

"We had all three registered bidders active on the day, with the price starting at $600,000 and climbing up to it's sale price after more than 20 bids," Mr Berlingeri said.

"It was an unusual setup in that there were two bedrooms downstairs and two bedrooms upstairs along with the kitchen, but that worked perfectly for the family that bought it.

"It's a desirable location with a more affordable price point than the east and the fact it's just a couple of kilometers from the CBD also appealed.

Earlier in the week, Ray White Canberra (above) held their ‘Winter Warmer’ auction event with great success, as 18 of the 27 properties on offer sold either on or before auction.

5 Teague Street in Cook was particularly popular as it attracted 16 registered bidders and sold well above the reserve price to an overseas buyer.

Ray White Canberra CEO Ben Faulks said it was the third year they had run the campaign and it offered buyers the chance to beat the spring rush.

“This is by far our best result to date, and indicative of the confidence that has returned to a post-election Canberra property market,” Mr Faulks said.

"We believe auction remains the best method of sale for generating a premium result for our sellers and we’re delighted the majority of our loyal clients benefited from strong results,” said Ray White Canberra Sales Director and Auctioneer Alec Brown.

But it wasn’t just property that sailed away this week, as a yacht (above) made waves by selling under the hammer for $2,100,000.

Ray White Marine Sales Director Brock Rodwell led the successful auction campaign.

“This wonderful vessel had previously been on the market for 12 months with competitors, but we got it sold under the hammer within a month,” Mr Rodwell said

“Elysium 3 is an amazing luxury sport yacht that combines a comfortable, spacious layout for family cruising and corporate entertaining with the ability to cruise economically at 24 knots or, if you're really in a hurry she has a top speed in excess of 42 knots.”