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FOR some parts of the country, Australians have started July and the new financial year in lockdown but that doesn't seem to have done anything to dampen demand from buyers.
Whether auctions were held onsite or online, buyer numbers remained strong with the Ray White Group booking a national registered bidder average of 6.9 - up 4.3 on this time last year.While 15 per cent of auctions sold prior, a further 165 went ahead across the country resulting in an 81 per cent clearance rate and an extra 12.6 per cent on average in seller’s pockets than if they’d sold before auction. In Sydney where auctions were held online, Ray White New South Wales chief auctioneer Alex Pattaro (pictured above) said if anyone thought that online auctions and COVID would slow the market down they should reconsider.“Today we saw competitive bidding, higher than average registered bidders and property prices continuing to exceed reserves. I have personally achieved a 100 per cent clearance rate today,” Mr Pattaro said.“If you are looking to buy, don’t delay your search and if you're thinking of selling now is the time to take full advantage of the influx of buyers while stock remains tight before the spring rush comes.”Six bidders were at their computers early this morning in the hopes of snagging the two bedroom unit at 3/7 Abbotsford Pde, Abbotsford. In the end, Mr Pattaro brought down the hammer on the Abbotsford unit at $880,000 after a starting bid of $740,000 and calling it on the market at $855,000. The buyers were a local couple from nearby Five Dock who plan to renovate the unit.Ray White North Ryde sales director and selling agent Ben Boutros said lockdown in the last week of the campaign didn’t make much difference to bidders.“We had multiple inspections and strong numbers through opens before lockdown. Most were first home buyers attracted to the lifestyle the location offers,” Mr Boutros said.“Despite being in lockdown this week, our office has continued to trade strongly. We’ve exchanged four properties in the last couple of days.”At an opening bid of $2.7 million, the auction of 91 Barcom Ave, Darlinghurst could only go higher. The old-world renovator's dream ended up selling for the highest price recorded through Ray White today at $3.625 million after being called on the market at $3.14 million.The bidding was ferocious with knock out bids of $50,000 and $100,000 coming through but it eventually sold to a local renovator buyer. Five buyers registered to bid but it was a local planning to renovate the home who came out the winner.Ray White Taylor and Partners director Jeremy Brink echoed Mr Boutros and said that lockdown hadn’t affected buyer or seller confidence.“We did a five week campaign so everyone who really wanted to see it had already come through before the lockdown,” Mr Brink said.“There really hasn’t been any buyers or sellers who have come to us worried about what this means for them.“We’ve all been through this before and know how to get on with it which is the same with our office - we’ve been at home but still working hard preparing for after lockdown when we expect listings to continue increasing.”
A vendor looking to trade up in sought-after Drummoyne is celebrating this evening after Ray White Drummoyne agent Chris Wilkins sold their 6/3 Drummoyne Avenue home for $2.6 million through an online auction today that attracted four registered bidders.Mr Wilkins said the outstanding location was the major drawcard for the buyer who was a local family.“The location and aspect, with a view straight up to the Harbour Bridge is amazing and rarely comes up. It’s one of the best locales in the area,” Mr Wilkins said.“The lockdown didn’t affect the campaign at all. We had everyone pre-registered and were in constant communication with the sellers. At the end of the auction, all the buyer had to do was sign with their finger on a mobile phone.”Lockdown couldn’t stop the Ray White Surry Hills | Alexandria | Glebe | Erskineville team from completing several outstanding online auction sales today. Director Matthew Carvalho put away 4/2 Cardigan Lane, Camperdown (Ray White auctioneer James Keenan pictured above calling the auction) for $1.46 million while agent Moira Verheijen sold 54 Goodsell St, St Peters for $1.7 million.
In Melbourne, auctions continued onsite as usual. Ray White Victoria chief auctioneer Matthew Condon said with restrictions in place across certain areas of Australia, it was great to be fortunate enough to be calling auctions on site in Melbourne.“The new financial year did not deter home buyers with bidders out in force to secure their desired property,” Mr Condon said.“It was also great to see that despite the cold weather, neighbours and crowds are returning to auctions and really adding to the atmosphere.“Based on preliminary data from the Ray White Group, we are continuing to see strong average registered and active bidders per auction. We have also recorded an exceptionally high preliminary clearance rate this week of 86 per cent.”In one of the top sales of the day for the group, Ray White Glen Waverley area manager Alan Zhang put away 11 Nottingham Street for $3.02 million to an audience of five registered bidders and their families. Office director and auctioneer Andrew Davies began the auction at $1.5 million before calling it on the market at $2.8 million.Mr Zhang said the more than $3 million price tag marks a new Nottingham Street record.“We had more than 100 groups inspect the property so I was quite confident throughout the campaign that it would sell but even this result surprised me,” Mr Zhang said.“Getting into the Glen Waverley school zones is so attractive for buyers that they are willing to go above and beyond to secure a property in the area. We haven’t seen the market soften and are finding that if owners are in the market to sell they will achieve premium prices.”This morning, Ray White Diamond Creek director Narelle King (pictured above) knocked down 102 Lambert St, Diamond Creek for an impressive $1.381 million.“A local developer won out against the five other registered bidders,” Ray White Diamond Creek selling agent Alan King said.“We’ve seen enormous growth in the area so the result is no surprise. Our average days on market is down to about five to 10 days and the median house price in Diamond Creek has risen about 20 per cent in the last two years.“It’s a very family orientated area with a lot of second home buyers moving into the area but we are also seeing downsizers coming from big rural properties further out.”
Only an hour later, selling agent and auctioneer Angela Limanis (pictured above) of Ray White Cheltenham had her own success at 9a Hawke St, Parkdale which she sold for $1.072 million.“We had three registered bidders come to the auction with two very determined to make the house their own but it was a downsizer who made the final bid. She really appreciated how well the house had been renovated and the fact that it was ready to move into,” Ms Limanis said.“We’re not seeing the typical softening in the market over winter that we usually would. Buyers are still out there and ready to bid when they see competition and we are also starting to see more stock come onto the market.”
Ray White Preston agent Ian Dempsey put away two successful auction sales today, resulting in some very happy buyers and sellers. In the morning, Mr Dempsey sold 17 Osborne Gr, Preston for a massive $1.727 million to a developer after 11 buyers registered to bid. He said the north-facing block was a huge drawcard for developers.Later on, the Ray White Preston agent also sold 2/81 Rathcown Rd, Reservoir (buyers pictured above) for $685,000 to a father who was buying an investment property for his daughter.Mr Dempsey said the area represents good value for buyers and has seen significant growth in the last few years.“The lack of stock is propping up a lot of sales at the moment and the northern suburbs around Preston and Reservoir are still good value,” he said.“We’ve seen huge demand from every segment of the buyer pool and sellers who chose to sell in the last six months have achieved some amazing prices - especially through auction.”
In Adelaide, where auctions are permitted onsite, Ray White South Australia chief auctioneer John Morris (pictured above at 60 Beatrice St, Prospect) said the first weekend of auctions in the new financial year is just as strong as it was in the last weekend of last financial year for Ray White in South Australia.“While we dropped down for the first time below 30 per cent market share, that's only because so many agents are jumping on the bandwagon because Ray White has done such a good job of representing the auction method as the preferred method of sale in South Australia,” Mr Morris said.“Everything I have auctioned off today has sold with way more registered bidders than we were expecting, and all of them, way above expectations.“Again, I cannot see it slowing down anytime soon. This market is still as hot as it has been. Bring it on for the coming months.”The top Ray White South Australia sale of the day went to Ray White West Torrens agent Carmine Catalano who sold 22 Messenger Rd, Fulham Gardens for $1.415 million. The price broke the Fulham Gardens residential property record set last year at $1.37 million.The successful buyers were eager to get closer to the beach and good schools and are thrilled with the purchase. Mr Catalano said the result was unexpected after receiving a $1.1 million offer as the highest prior to auction.“Bidding started at $800,000 but two of six active bidders took it all the way up to the final sale price,” Mr Catalano said.“These types of family homes are doing really well at the moment. Something that is on a reasonably sized block with a decent home that the buyers can either move straight into or renovate are going well above market expectations at the moment.”Also hitting the million dollar mark today was Ray White Norwood agent Stefan Siciliano with 60 Beatrice St, Prospect. The campaign attracted more than 300 groups over just 18 days and in the first week was the most viewed Adelaide property on realestate.com.au.There were 30 hopefuls who registered to bid while more than 40 bids were placed before it was knocked down for $1.311 million after bidding opened at $1 million. After a 19 month search, the new owners were thrilled while the vendors are now able to downsize with money left over.Meanwhile, fellow Ray White Norwood agent Nick Rogers helped his vendors say goodbye to a home that had been in their family for almost a century. Fifteen registered bidders attended the auction of 1 Curzon St, Camden Park which sold for $860,000. Mr Rogers said both the buyer and sellers were over the moon with the result.“The buyer is moving back to Adelaide from Renmark with his family. He purchased the property with the view of doing a big extension,” Mr Rogers said.“The result was unreal and while it’s a bittersweet moment for the vendors, they are so happy that a new family is taking over the house and creating their own memories there.”
In Brisbane auctions were also held online after the three day lockdown was extended a further 24 hours. Ray White Queensland chief auctioneer Gavin Croft said the three day lockdown meant a number of auctions both in Brisbane and the Gold Coast had to be moved online.
“We proceeded to quickly transition from in-room auctions on the Gold Coast where some nearly 30 auctions were due to go up from the Ray White Gold Coast team, we transferred them to an online auction process,” Mr Croft said.
“We then moved 21 auctions on Wednesday under lockdown procedure, there were 80 registered bidders for the day online with approximately a clearance rate of 65 per cent.
“The other highlight during the week was the transition of a major Brisbane new financial year auction event for the New Farm and Bulimba offices where they had 11 auctions go up, eight sold giving us a clearance rate of 72 per cent. And an average of around four registered bidders per auction."
Ray White Ascot agent Andrew Flanagan did a quick turnaround this week, transitioning 46 Wellington St, Wooloowin from an in-room auction to online. The old Queenslander turned block of flats sold under Ray White auctioneer Phil Parker’s (pictured above) hammer for $985,000 to an online audience of 10 buyers. The new buyers plan to keep the three unit configuration and use the property as an investment.Mr Flanagan said as long as you know how to adapt to an online auction then the process works itself out.“Being able to get your buyers ready to get on the phone and bid and have a process in place will serve you well,” Mr Flanagan said.“The lockdown hasn’t affected buyer sentiment for us at all. If anything, after the last lockdown we saw a massive increase in momentum within the market.”On the Sunshine Coast which is one of the country’s fastest growing markets, Ray White Kawana agent Adam Budd said it’s the locals who are creating much of the momentum. His 3 Marana St, Warana auction today was the perfect example, selling for $1.26 million to a family from Maroochydore who wanted to be closer to their children’s school.“The local buyers are feeling the pressure from interstate buyers who know the area and know the value of the market. The locals know they need to get in now,” Mr Budd said.“The locals are driving the market well and they've realised that anything close to the beach is good value. They’re getting everything in order now to bid at auction and bid strongly.”The auction attracted six registered bidders with four actively participating which resulted in a record price for that type of three bedroom home in Warana.
