Autumn auctions close out with huge clearance rates

“There’s no slowing down the Sydney market,” said Perry Edmondson-Clark, Head of Auctions at Ray White Corporate NSW & ACT.

“We’re seeing strong results being reported left, right and centre across our 351 scheduled auctions. Activity has been great this week across all market places and price points. Multiple $5 million-plus sales were recorded today, with a number of registrations and strong competition.

"However, it wasn’t just the higher end performing well - there’s real strength showing in the more affordable segments of the Sydney market too. With the recent interest rate cut, it seems buyers have a newfound confidence.”

15 The Grove, Roseville

• Sold under the hammer for $6.55 million

• Four registered bidders, three active

• Lead agent: Jessica Cao - 0466 877 260

• Ray White Upper North Shore

Ms Cao said the home was purchased by a young family from Killara who are upsizing and were looking for a move-in-ready property with no renovations required.

The sellers, who are downsizing after their children moved out, were absolutely over the moon with the result.

“We had non-stop rain throughout the campaign, and then the most stunning weather today for us. The sunshine really brought out the buyers,” Ms Cao said.

9 Charles Street, Castlecrag

• Sold under the hammer for $6.8 million

• Three registered bidders

• Lead agent: John McManus - 0425 231 131

• Ray White Lower North Shore

Mr McManus said the buyers were up-sizing with their growing family and they plan to sell their local home soon.The sellers are relocating.

“There are plenty of people out today, with beautiful weather. People at open homes are showing a lot of confidence. The way people are talking is very upbeat and positive around the marketplace. The weather really does encourage buyers!”

12A Lombard Close, Glebe

• Sold under the hammer for $1.815 million

• Five registered bidders, four active

• Lead agent: Matt Carvalho - 0404 006 744

• Ray White Surry Hills

• Auctioneer: Tim Snell, Ray White NSW CEO

Mr Carvalho said the property opened at $1.4 million, with strong competition from three parties taking it well past $1.7 million. The winning bidder was a young first home buyer currently renting locally. The sellers, a young couple with a newborn, are relocating to the Southern Highlands where they plan to renovate.

“Everything is selling at the moment - we’ve seen a real pick-up in activity over the last month. Prices aren’t going bananas, but confidence is definitely returning. Stock is starting to tighten, as expected for this season, and that’s bringing more bidders out.”

101 Highfield Road, Lindfield

• Sold under the hammer for $3.52 million

• Four registered bidders, three active

• Lead agent: Jessica Cao - 0466 877 260

• Ray White Upper North Shore

Ms Cao said the winning bidders were a local family who had been renting in the area and fell in love with the home’s practical layout and ideal location, directly opposite a beautiful park.

“It’s a great street and a really functional home - they knew it was the right fit as soon as they saw it.”

5 Whitefriars Way, Winston Hills

• Sold under the hammer for $1.873 million

• Eight registered bidders, five active

• Lead agent: Adam Heywood - 0432 646 939

• Ray White Baulkham Hills

• Auctioneer: Alex Pattaro, Ray White

Mr Heywood said the winning bidders were a young couple looking to start a family, making this the perfect home for their next chapter. The sellers, an elderly couple who had moved into a nursing home, weren’t able to attend, but their family was there and absolutely over the moon with the result.

“The market is holding really strong in our area - eight registered bidders is a great sign. Now that the election is behind us, buyers are feeling more confident.”

32 Salisbury Lane, Rosebery

• Sold under the hammer for $2.12 million (suburb record)

• Three registered bidders, all active

• Lead agent: Yuanchao Pei - 0475 928 888

• Ray White Green Square

• Auctioneer: Bryce Bevan, Ray White

Auctioneer Bryce Bevan said that the auction was a cracker and ended up breaking the suburb record. The auction was all over within 15 minutes, with a relocating couple from Melbourne taking the keys.

“Winter is coming, but it feels more like spring with over 1,400 auctions scheduled this week across the entire state, making it a ‘Super Saturday’ of auction action on the eve of winter,” said Jeremy Tyrrell, chief auctioneer of Ray White Victoria.

“For the Ray White group, it’s been a record-breaking week for auction volume, with 306 scheduled - the highest number so far this year.

“This surge is most likely due to listings held back during the Federal election now hitting the market. News of the interest rate cut has also bolstered conditions, strengthening buyer confidence.

“Our clearance rate this week sits at 81.5 per cent, and the average number of active bidders has increased to 2.8. While the weather bureau has predicted a warmer than average winter, the real estate market looks set to follow suit as things continue to heat up.”

15 Curtis Avenue, Watsonia

• Sold under the hammer for $895,000

• Three bidders

• Lead agent/auctioneer: Kaylah Guerra - 0406 655 389

• Ray White Macleod

Kaylah Guerra said the winning bidder was a first home buyer.

“This was a popular home due to it being a subdivided block which means you have the advantage of no body corporate fees, or shared land, but without the price tag of a house on a full block,” she said.

32 Catherine Avenue, Chelsea

• Sold under the hammer for $1.505 million

• 10 bidders

• Lead agent: Ruben Gueli - 0473 101 555

• Ray White Chelsea

Mr Gueli said the auction kicked off with a bang, as the opening bid came in at $110,000 above the top of the price range, stunning the crowd and setting the tone for a competitive auction. The buyers are a young couple starting a family and chasing the idyllic beachside lifestyle.

The sellers had owned the property for 10 years, one of whom was Ray White Judd White director Andrew Dimashki. Andrew and Ayse Dimashki did the renovation of the beautiful 1920s home.

“It was a real honour to represent Andrew and Ayse in the sale. The icing on the cake was having their daughter there to help with the auction - a very special moment.”

24 Sycamore Avenue, Mentone

• Sold under the hammer for $1.13 million

• Two bidders

• Lead agent/auctioneer: Kevin Chokshi - 0430 195 517

• Ray White The Bayside Group

Mr Chokshi said the auction opened strongly with a $1.1 million bid - right at the top of the price range - which shook a few people and set the pace early. The property was ultimately purchased by a young couple. The sellers, also a young couple, were upsizing after buying this as their first home at the peak of the market in 2021 and were thrilled to have still made a profit on the sale.

“There’s a great appetite in the market right now for quality homes like this, especially from young families looking to take the next step.”

27 Andrew Crescent, Croydon South

• Sold under the hammer for $1.365 million

• Eight bidders

• Lead agent/auctioneer: Chris Watson - 0406 003 856

• Ray White Ringwood

A young family who recently relocated from the UK secured the winning bid, purchasing the home from sellers who have been living in Darwin and had kept the property as an investment. The home originally belonged to the seller’s father, and they were very pleased with the result.

“There’s a noticeable uptick in Melbourne this year. It’s not a booming market, but things are definitely moving. Prices still need to be sensible and properties well-presented, but buyer confidence is growing.”

47 Dell Road, Frankston

• Sold under the hammer for $870,000

• Ten registered bidders

• Lead agent: James Stamatopoulos - 0400 210 425

• Ray White Frankston

Mr Stamatopoulos said that eight of the ten registered bidders participated remotely online, with only two on site. The successful purchaser was an online bidder from Werribee buying the home as an investment, while the underbidder was a buyer’s advocate acting for a Sydney investor.

The vendor, who currently resides in Thailand, was selling the property as part of their investment portfolio.

“This result shows the strength of demand from investors across the country, with remote bidding now a key part of the auction landscape.”

45 Euston Road, Hughesdale

• Sold under the hammer for $1.91 million

• Five bidders

• Lead agent / auctioneer: Jonathon Eaves - 0411 051 571

• Ray White Oakleigh

Jonathon Eaves said the sale of this charming time-capsule home was incredibly emotional for the sellers, whose father built it.

45 Pauls Crescent, Wendouree

• Sold under the hammer for $529,000

• 10 bidders

• Lead agent / auctioneer: Mark Williams - 0418 363 633

• Ray White Ballarat

6A Banfield Street, Ararat

• Sold under the hammer for $315,000

• Two bidders

• Lead agent: Adam Walker

• Ray White Ararat

• Auctioneer: Valentina Parra, Ray White

Ray White Queensland chief auctioneer Gavin Croft said that there was plenty of energy in the market today, despite a lot of rain trying to keep buyers away in Brisbane.

“All the rain didn't stop the great buyers coming out and having a go,” Mr Croft said.

“Average registered bidders are up to 5.7, off a low of 3.7 pre-election. For us, clearance rates are in excess of 70 per cent which I predict will continue into the coming months. I personally had an 80 per cent clearance rate today.”

96/8 Goodwin Street, Kangaroo Point

• Sold under the hammer for $4.09 million

• Eight registered bidders, four active

• Lead agent: Max Hadgelias - 0411 276 372

• Ray White Paddington

Mr Hadgelias said the property was sold on behalf of an estate, with the sellers being one of the original owners in the building, having amalgamated two units off the plan when it was built in 1990. The winning bidders were downsizers who had been searching for the right home for three years and finally found “the one.”

“It was a rare and special property, and the level of interest shows just how tightly held homes like this are in Kangaroo Point.”

80 Reeve Street, Clayfield

• Sold under the hammer for $3 million

• Three bidders, all active

• Lead agent: Vanessa Harte - 0422 426 373

• Ray White Ascot

• Auctioneer: Phil Parker, Ray White

Ms Harte said the auction was jam-packed, with around 60 people in attendance and strong bidding from all three registered buyers. The winning bidders were a family from Fig Tree Pocket relocating for the local schools. The sellers were downsizing after a strong campaign that saw 37 inspections - a significant number for a property at this price point.

“Houses have been harder to get people to commit to recently, but the style and location of this home were huge drawcards. It was beautifully presented and really resonated with buyers.”

97 Lanham Ave, Grange

• Sold under the hammer for $1.47 million

• Five registered bidders, three active

• Lead agent: Andy Flanagan - 0412 318 086

• Ray White Ascot

• Auctioneer: Phil Parker, Ray White

Mr Flanagan said the winning bidders plan to knock down the existing home and build their dream family residence, drawn to the 16-metre frontage and the property's location in a prime pocket of Grange. The sale was all about land value.

“The sellers were investors who bought the property about two years ago for $1.1 million and hadn’t made any changes - they’ve now decided to move on from the investment.”

9 Gilbert Road, Windsor

• Sold under the hammer for $2.040 million

• Three registered, two active

• Lead agent: Andy Flanagan - 0412 318 086

• Ray White Ascot

• Auctioneer: Phil Parker, Ray White

Mr Flanagan said the winning bidders were a family upsizing from Teneriffe, drawn to the home’s seamless indoor-outdoor flow and spacious layout. The sellers had lovingly renovated the property themselves and raised their children there.

“It was a beautifully renovated family home with great functionality - it really struck a chord with the buyers looking to make their next move.”

83 Eildon Street, Windsor

• Sold under the hammer for $1.285 million

• Lead agent: Andy Flanagan - 0412 318 086

• Five registered bidders, two active

• Ray White Ascot

• Auctioneer: Phil Parker, Ray White

Mr Flanagan said the successful buyers were a couple of brothers entering the property market who were excited to now own a home, rather than continue renting. The seller had owned the property for 47 years and was downsizing.

“Activity in Brisbane is phenomenal right now; the recent interest rate drops aren’t pushing prices up drastically, but they’re definitely giving buyers more confidence.”

“It seems that winter has not reared its head here in South Australia, with a beautiful sunny 20-degree day,” said Sam Grover, sales performance specialist at Ray White South Australia.

“The number of registered bidders has been a little patchy, but properties with large land sizes or character homes are definitely drawing in the crowds. We’re expecting a clearance rate between 65 and 70 per cent this week, with Adelaide’s North and West performing very strongly. We feel there’s real value on offer in these areas.

“Vendors who are priced well are seeing stronger bidder numbers, while those priced far above market value are being hit hard. It’s crucial that our vendors are educated and aligned with the market when it comes to pricing.”

10 Ranelagh Street, Woodville

• Sold under the hammer for $1.605 million

• 15 registered bidders, seven active

• Lead agent: Stefan Siciliano - 0403 171 489

• Auctioneer: Sam Grover, Ray White

A much-loved family home held by the same family for two generations was sold under the hammer, with nine brothers and sisters coming together to bid farewell the property.

Stefan Siciliano said that half the crowd were family members, joined by a strong group of eager bidders. The successful buyer was a local man who plans to redevelop the site and subdivide it into three or four homes.

“Adelaide is very hot for land at the moment - anything subdividable is in high demand. At our last three development site auctions, we’ve seen between 15 and 30 registered bidders. Within 8-10km of the city, it’s a real mix - from bigger companies to family developers and tradies doing their own thing,” Mr Siciliano said.

3/9 Cuthero Tce, Kensington Gardens

• Sold under the hammer for $755,000

• Nine registered bidders, five active

• Lead agent: Nick Borrelli - 0432 270 893

• Ray White Campbelltown

Mr Borrelli said the auction took an unexpected turn when the highest bidder - an overseas buyer bidding via phone - got cold feet, causing a brief delay. A young couple then registered at the last minute and ended up securing the property, which was a fortunate outcome for the hesitant phone bidder.

The sellers, a young couple who had renovated the unit after living in it for a few years, have now upsized it to a family home.

“The market is steady, but some properties are definitely outperforming others. Good-sized units like this are really in demand right now.”

58 East Street, Mount Hawthorn

• Sold under the hammer for $1.93 million

• 12 registered bidders, three active

• Lead agent: Rosmarie Kenny - 0408 858 807

• Ray White North Quay

• Auctioneer: Scott Langley, Ray White