Auctions fire up in 2022

The last auction Saturday of January delivered scorching results for sellers across the country, proving any holiday lull is well and truly behind us.

Australasia’s largest real estate group recorded a national preliminary clearance rate of 80 per cent today with buyers rushing to secure properties against the competition. The standout city of the day was Brisbane, recording a preliminary auction day clearance rate of 100 per cent.

An under-the-hammer record was broken for 2022 in Sydney, with a $12 million sale in Sydney’s affluent eastern suburbs.

A key theme throughout the day from auctioneers and agents was the larger than usual buyer numbers with 6 average registered bidders booked nationally across the Ray White Group, and 3.2 of them actively bidding.

More than 75 per cent of the group’s buyers today were local, while 3.4 per cent were international buyers, this metric is slightly higher than last year and one to keep an eye on.

More than 18 per cent of the group’s 290 auctions booked this week had sold prior to their booked date. Some 195 properties proceeded to go under the hammer today.

SYDNEY

Ray White New South Wales chief auctioneer Alex Pattaro said the Sydney property market had taken off from where it was left last year.

“We’re continuing to see growing open home attendance, despite talk of a looming interest rate rise,” Mr Pattaro said.

“This should give sellers confidence that the market remains buoyant and property prices remain at record levels.

“With many more properties set to hit the market throughout February, It is an exceptional time to transact, whether you are a buyer or a seller,” he said.

35 35 Warren Road, Bellevue Hill (pictured above)

• Ray White, Allen Yan

• Sold under the hammer for $12,000,000

• Six registered bidders

• Auctioneer Alex Pattaro, Ray White

“This is a phenomenal result for our client and for our group as a whole,” Mr Yan said.

“We implemented a strategic campaign and engaged with all 120 buyers that came through the property and kept up strong communication.

“Most of the interested parties were young families, and the winning bidders ended up being a local young family,” he said.

5 Ashmore St, Erskineville (pictured above Walter Burfitt-Williams, Brody O’Brien and Annie Hodgson)

• Ray White Taylor and Partners, Walter Burfitt-Williams and Brody O’Brien

• Sold under the hammer $1,785,000 ($135,000 over reserve)

• Four registered bidders

“There was a huge crowd of about 70 people who turned up to watch the auction unfold along the street with Covid safe measures,” Mr Burfitt-Williams said.

“We were thrilled for the young owner occupier couple who won the auction, after they had missed out on quite a few other properties.

“The three under bidders were all investors; the investor market is very strong at the moment, with people wanting to put their cash into property,” he said.

6 Norfolk St, Blacktown (pictured above)

• Ray White Punchbowl, John Yatman and Ali Ibrahim

• Sold under the hammer for $910,000 ($110,000 over reserve)

• 18 registered bidders

• Auctioneer, Alex Pattaro - Ray White

“The winning bidders were a young family, entering into the property market after looking for their first home,” Mr Yatman said.

“This campaign saw 100 buyers through the open homes. Solid properties like these are performing extremely well at the moment.”

65 Nineveh Cres, Greenfield Park (pictured above auctioneer James Kerley)

• Ray White Wetherill Park, Marcus Biasetto

• Sold under the hammer for $1,150,000 ($175,000 over reserve)

• 26 registered bidders

• Auctioneer: James Kerley, Ray White

“The seller bought this home brand new 35 years ago, and is moving to an aged care facility. She was absolutely overwhelmed with the wonderful result,” Mr Biasetto said.

“After 100 inspections over four weeks, the ultimate winner was a young investor couple.”

2 Abbott Close, Edensor Park (pictured above)

• Ray White Wetherill Park, Robert Biasetto

• Sold under the hammer for $1,000,000 ($50,000 over reserve)

• 9 registered bidders

• Auctioneer: James Kerley, Ray White

“The winning bidders were a young first home buyer couple who will lease it out for a little while and then move in,” Mr Biasetto said.

“The owner has lived here for 22 years and purchased the property for $167,000! She is thrilled with the result.”

BRISBANE

Ray White Queensland chief auctioneer Gavin Croft said sales hadn’t stopped over summer, and the quality and execution of auctions in the state had been outstanding.

“The Gold Coast is performing exceptionally well, even for the usually busy summer season of auctions up here,” Mr Croft said.

“Over the last week across the Gold Coast, we have had more than 200 auctions with a clearance rate hovering around 70 per cent,” he said.

97 Philip St, Hawthorne (pictured above)

• Ray White Bulimba, Brandon Wortley and Matt Lancashire

• Sold under the hammer for $2,700,000

• 11 registered bidders

• Auctioneer: David Farrell, Ray White

“The winning young couple had never seen the house until this morning. They have just moved up from Sydney and were thrilled that they could finally start looking at houses in person,” Mr Wortley said.

“I would say that about 50 per cent of the interest in this property was from interstate buyers. The under-bidder was an Aussie expat living in America, wanting to buy this property as his second investment in Hawthorne. There is so much confidence in the Brisbane property market at the moment,” he said.

The seller, developer Brent Thompson from Siera Group was thrilled with the result. He also recently built and sold the next door property.

25 Otanga Rd, Ashgrove (pictured above and below)

• Ray White Ashgrove, Brigette Righton and Amy MacDonald

• Sold under the hammer for $1,801,000 ($351,000 above reserve)

• 25 registered bidders

• Auctioneer: Adam Downes, Ray White

“The owners were ecstatic to achieve such a huge result over reserve, and the buyers were a downsizing couple (pictured below) wanting to take advantage of the beautiful street and the peaceful green outlook,” Ms Righton said. A huge 188 groups came through the cottage at the open homes in the two week campaign.

Ray White Burleigh Group and Robina online auction event (pictured below)

• 38 properties went under the hammer

• 70 per cent clearance rate

• 86 total registered bidders

• $27,044,000 in total sales

• Auctioneer: Gavin Croft, Ray White

“The Gold Coast auction event today was a success for all offices involved,” Gavin Croft said. The standout sales of the day:

82 Rio Vista Boulevard, Broadbeach Waters - $2,000,000

3/196c Hedges Avenue, Mermaid Beach - $1,285,000

110 Rio Vista Boulevard, Broadbeach Waters - $1,695,000

MELBOURNE

With such a strong finish for the Melbourne market in December, Ray White Victoria and Tasmania CEO Stephen Dullens explained how this momentum has continued into 2022.

“With Australia Day behind us and most kids back at school next week, we are well and truly back to normal with the new real estate year in full swing,” Mr Dullens said.

“This week Ray White had 160 auctions scheduled across Victoria, which form part of the 230 auctions scheduled for January. This is an increase of around 20 per cent compared to last January but interestingly, almost 150 per cent increase compared to January 2020.”

With the year now in full swing, new listings are once again hitting the market.

“As of today, across Victoria and Tasmania we have just shy of 3,000 sales listings on the market, around 13 per cent higher than this time last year. It is great to see buyers once again out in force to secure their dream property with more opportunities than many times during the lockdown-interrupted year,” Mr Dullens concluded.

30 Ross Cres, Heathmont (pictured above)

• Ray White Ringwood, Chris Watson and Olivia Mackie

• Sold under the hammer - $1,117,000 ($50,000 above reserve)

• 13 registered bidders

• Auctioneer: Chris Watson, Ray White

“The young couple who bought their home were in tears as the hammer fell and they finally purchased their own home together to start their family in, after two years of searching,” Mr Watson said.

“We are noticing a big increase in bidder numbers, and can sense the vigour is coming back into the market after Christmas.”

26 Timberglades Drive, Bundoora(pictured above)

• Ray White Bundoora, Tim Yu

• Sold under the hammer - $1,182,500

• Five registered bidders

“The winning bidders were a young family from Bundoora, and upgrading to their second home,” Mr Yu said.

“The market is performing really well, we put a property online at 4pm yesterday and had more than 20 groups of buyers through the open today.”

ADELAIDE

Ray White South Australia chief auctioneer John Morris said the statistics for 2022 were shaping up like a carbon copy of the best auction year in history.

“Ray White so far this year in South Australia have held a 31 per cent share of all auctions, and of our auctions, 85 per cent have sold under the hammer with an average of 10 registered bidders,” Mr Morris said.

“Next week we have 68 auctions scheduled, so it is shaping up to be another fantastic year with huge numbers,” he said.

3 Edgeworth Street, Prospect (pictured above auctioneer John Morris)

• Ray White Norwood, Stefan Siciliano and Lawrence Cocca

• Sold under the hammer - $1,110,000 ($210,000 over reserve)

• 24 registered bidders

• Auctioneer: John Morris, Ray White

“The winning bidder was a local business owner who is going to renovate and extend the old character home,” Mr Siciliano said.

29 Gleneagles Rd, Mount Osmond (happy buyers pictured above)

• Ray White Unley, Josh Gillespie and Daniel Seach

• Sold under the hammer - $920,000

• 5 registered bidders

“It was wrapped up in about two minutes, definitely the quickest auction I have ever had, with a quick back and forth of $20,000 increments between two bidders,” Mr Gillespie said.

“The sellers were over the moon, as were the buyers, a young couple with a baby on the way who were looking for a more spacious home,” he said.

“While it is a little too early in the year to get a clear indication of the market, we are seeing good quality stock selling like hotcakes.”

22 Le Hunte Street, Wayville (happy buyers pictured above)

• Ray White Unley, Josh Gillespie and Brett Brook

• Sold under the hammer - $1,540,000

• Five registered bidders

“This sought-after area of Adelaide always delivers excellent results to sellers,” Mr Gillespie said. “The young family who purchased the property are thrilled to call this home their own.”

DOWNLOAD LINK TO IMAGES AND AUDIO

Media Contact
Nina Clarke
Ray White Group
0448 841 606
nclarke@raywhite.com