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The severe weather did little to deter bidders today, with some enormous results around the country, particularly in the drenched cities of Brisbane and Sydney.
The soaking across the east coast of Australia did little to slow the powering auction market as buyers pushed Ray White’s auction day clearance rate to 84 per cent, on a preliminary basis by late Saturday afternoon.
The top sale of the day for the Ray White Group was in Brisbane where 2 Perry St, Hamilton sold under the hammer at public auction for $6.77 million, exceeding its reserve, in front of a crowd of 50 people including local media.
Highly experienced agent, Dwight Ferguson of Ray White Ascot, sold the property to a local family.
Auctioneer Phil Parker said there were seven registered bidders and they were all active in the exciting auction.
“Despite the weather, Brisbane’s prestige market is on fire and has never been so active with buyers,” the auctioneer said.
Nationally, there were a huge 5.3 registered bidders at auctions today, with 3.3 participating in active bidding.
South Australia led the way with 8.5 registered bidders on average today, followed by New South Wales with a strong 5.6 registered bidders.
Ray White Head of Auction Data Nathan Kennedy said some 66.5 per cent of the group’s sellers this week were owner occupiers, while 27.2 per cent were investors, and 77.9 per cent of buyers were owner occupiers with 19 per cent investors.
“Some 91.7 per cent of buyers this week were local, 7.1 per cent interstate and less than 1 per cent were from overseas. This data set is something we are monitoring very closely now in the wake of the international border reopening this week,” Mr Kennedy said.
SYDNEY
Ray White New South Wales chief auctioneer Alex Pattaro said the wild weather didn't deter any serious buyers today, in another demonstration of the Sydney market strength.
“Property prices remain strong across all parts of Sydney, and we are seeing slightly less buyers than last year, which should give ready-now buyers more confidence that they can secure a home,” Mr Pattaro said.
“Competition at auction for top-tier homes across all suburbs is strong, with our auctioneers reporting eight to 10 or more buyers on these homes. With prices stable in Sydney, it is currently an excellent time for both sellers and buyers to transact,” he said.
12 Griffith Avenue, North Bondi (pictured above)
Ray White Maroubra | South Coogee - Phillip Elmowy
Auctioneer: Alex Pattaro, Ray White
Sold under the hammer for $3,020,000 ($420,000 above reserve)
Four registered bidders and three active
The original 1960’s home covered in retro wallpaper sitting on only 182sqm had belonged to the same family for 68 years. Griffith Avenue is one of the most sought after neighbourhoods in Australia.
“The winning bidder was a gentleman in the building industry, who plans to capitalise on the location and renovate the property,” Mr Pattaro said.
“Despite the tricky weather and traffic, the auction was a success and the seller was absolutely thrilled to achieve such an amazing result above reserve.”
8-8a Bond Street, Maroubra (pictured above)
Ray White Park East Coast - Adrian Bo and Harrison Jones
Sold under the hammer for $6,025,000
“This beautiful home was leased out as an investment by the owners before they decided to sell. The winning bidders were a family from Bellevue Hill, wanting to move closer to the beach and to family members,” Mr Bo said.
41 Australia Street, St Marys (pictured above)
Ray White St Marys - Peter Diamantidis and Amber Boumelhem
Sold under the hammer for $1,713,000 ($243,000 above reserve)
11 registered bidders and eight active
“The buyers actually came out of left field and hadn't even viewed the property until today; they wanted the home as an investment and to capitalise on the new airport that is coming nearby,” Mr Diamantidis said.
“This was a special family home for the sibling sellers, with their late parents having built the house in 1961 when they migrated to Australia,”
“It initially took a bit of convincing to go with the auction method, so they were absolutely thrilled when the hammer went down today.”
78 Park Road, Hunters Hill (pictured above)
Ray White Upper North Shore - Jessica Cao
Sold under the hammer for $4,130,000
Three registered bidders and two active
“Our vendor is based in China and due to COVID-19, they were not able to return to Australia,” Ms Cao said.
“The winning bidders were a young family from the Inner West who saw this property last year when it was on the market, but their finance wasn’t ready,” Ms Cao said.
“When we launched it again, they knew that it was meant to be and really had their hearts set on it! They came in strong, starting the bidding at $3.8 million.”
MELBOURNE
Ray White Victoria and Tasmania CEO Stephen Dullens said the strong momentum from 2021 has continued into February, with buyers once again out in force for the weekend’s auctions.
“The events in Europe over the last few days have been challenging to watch, and the resulting uncertainty has driven much volatility within investment markets across the world,” Mr Dullens said.
“As weekly auction numbers across Victoria continue to increase and COVID-19 restrictions are relaxed, the sunny day in Melbourne again resulted in big auction crowds,” he said.
“With over 200 auctions scheduled across Victoria, our preliminary clearance rate sits at 89 per cent with early results showing 3.5 active bidders per auction,” he finished.
144 Meridian Drive, South Morang (pictured above)
Ray White Bundoora - Jon Challands
Sold under the hammer for $2,206,000 ($456,000 above reserve)
Four registered bidders and all active
“The winning bidders of this property have recently sold and were living locally, waiting for the right property to pop up for their family home,” Mr Challands said.
“People were really drawn in by the unique home; there is nothing else like it on the market at the moment. We are also finding a lot of people are wanting to secure property before a potential interest rate rise,” he said.
The four registered bidders were all very active, with two fighting it out to the top in $1000 increments.
28 Tarella Drive, Mount Waverley (pictured above)
Ray White Mount Waverley - Nicholas Richards and Rachel Ye
Sold under the hammer for $1,400,000
Five registered bidders and four active
Auctioneer - Andrew Freeman, Ray White
“The land value was the major drawcard for this property, and the winning bidders were indeed planning to knock down and build their dream home,” Mr Richards said.
“Our sellers are based in China, so we had the auction live streaming for them. They wanted to capitalise on the great market at the moment, so they were very pleased when we could do that for them,” he said.
4 Camellia Court, Wheelers Hill (pictured above)
Ray White Glen Waverley - Michael Lauria and Darryl Wickham
Sold under the hammer for $1,291,500 ($91,500 above reserve)
Five registered bidders
Auctioneer - Andrew Davies, Ray White
“The lovely sellers were a couple that I have known for seven years, and they have just made the move into retirement village living,” Mr Lauria said.
“The buyers were two local doctors looking for the next home for their family,”
“It was a great, long auction that went for 40 minutes, with bidding opening up at $1,050,000,” he said.
BRISBANE
Ray White Queensland Chief Auctioneer Gavin Croft said that the 389mm of rain within three hours on Saturday led to a lot of fear that the crowds wouldn’t show up for auctions today.
“The usual large crowds of onlookers stayed home today, but the genuine buyers were absolutely turning up and were ready to secure real estate,” Mr Croft said.
“This level of rain was almost a buyer qualifying method today; only genuine bidders showed up, and they bid incredibly fiercely,” he said.
Mr Croft said that there was an extraordinary amount of bidding today, along with a huge number of properties selling prior to auction in Brisbane this week.
30 Central Avenue, Paddington (pictured above, sharing the bubbles and the excitement)
Ray White Paddington - Judi O’Dea and Michael Kleimeyer
Sold under the hammer for $1,800,000
14 registered bidders
“This result, even for a suburb like Paddington, is absolutely outstanding for a three bedroom one bathroom home,” Ms O’Dea said.
“The winning bidder, a local gentleman from Brisbane, was thrilled to secure such a gorgeous cottage for him and his family.”
The sellers Clare Peacock and Adrian Billing, originally from Zimbabwe, are relocating back to the UK. Mr Billing is recipient of a BAFTA award for production, and Ms Peacock, is an expert in environmental sustainability.
“The entire house is entirely up to date with all eco-friendly design and sustainable gadgets,” Ms O’Dea said.
“Although they are not able to stay in Australia, they were rewarded with such a wonderful result for their home today,” she said.
21/90 Marine Parade, Miami (pictured above)
Ray White Burleigh Group - Travis Miller
Sold under the hammer for $1,850,000 ($100,000 above reserve)
21 registered bidders with 15 active
“This was a special and emotional sale, as the occupant was a 101 year old lady who had just moved into full time nursing care,” Mr Miller said.
“The sale was managed by her two sons, who were absolutely thrilled with the result and are able to provide their Mum with the best care possible now,” he said.
Mr Miller said the highest offer prior to auction was $1.5 million, but the 21 registered bidders pushed the price far beyond expectations.
“It is a completely original 1974 unit, so the winning bidders hailing from Bondi Beach plan to update it to become a holiday home or their future residence,” Mr Miller said.
Mr Miller said all beachside suburbs on the gold coast are still performing incredibly well.
“Interstate interest is still very strong; I had 329 enquiries on this property and I would say that 40-50 per cent were interstate enquiries.”
2 Perry St, Hamilton (pictured above)
Ray White Ascot - Dwight Ferguson
Sold under the hammer for $6.77 million, exceeding its reserve
Crowd of 50 people
7 registered, 7 active bidders
Auctioneer - Phil Parker, Ray white
“Despite the weather, the Brisbane prestige market is on fire and has never been so active with buyers,” the auctioneer said.
ADELAIDE
Ray White SA/NT chief auctioneer John Morris said if there was any drop in clearance rates for the east coast of Australia, it certainly had not been the case in Adelaide.
“Last week our clearance rate sat at 85.7 per cent, and we also had the largest number of registered bidders in the country, sitting at 8.7 bidders on average per auction,” Mr Morris said.
“This week we entered the weekend at a 100 per cent clearance rate, and there has been bidding at every auction this week. It is looking like Adelaide is going to continue topping that board for the weeks and months to come.”
2 Kurralta Drive, Burnside (pictured above)
Ray White Norwood - Brandon Pilgrim and Damien Fong
Sold under the hammer for $1,255,000 ($295,000 above reserve)
11 registered bidders
“Interestingly, both top bidders were from interstate - one group from Brisbane and one from Melbourne,” Mr Pilgrim said.
“The new owners of this home are looking forward to the wonderful lifestyle that Adelaide has to offer, and the amazing views from this peaceful home,” he said.
The downsizing sellers were thrilled with the result and were ready to move into an apartment lifestyle.
“The market is staying consistently strong down here in Adelaide, especially the family homes which tick all the boxes,” Mr Pilgrim said.
3 Darwin Street, Lockleys (pictured above)
Ray White Henley Beach - Anthony Fahey and Samuel Parsons
Sold under the hammer for $925,000 ($75,000 above reserve)
12 registered bidders and six active
“The home has been in the same family since 1966, so it was an emotional and exciting day for the family,” Mr Fahey said.
“We had a huge local crowd show up to watch the auction, with bidding starting at $700,000 and ultimately the winning bidders were a family wanting to build their own new home.”
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Media Contact:
Nina Clarke
Ray White Group
0448 841 606
nclarke@raywhite.com
