Bidders still fueling auction markets

Ray White New South Wales state auctioneer Perry Edmondson-Clark said it was another strong weekend of results in Sydney across 131 scheduled auctions for the group.

“Buyer activity remains consistent and great prices are being revealed on auction day,” he said.

“We are certainly seeing a strong amount of momentum in our winter months and encourage sellers to capitalise on this and come to the market now, rather than waiting for spring.”

23 Archbold Road, Roseville

• Sold under the hammer for $3.445 million

• Four registered bidders, three active

• Ray White Upper North Shore

• Lead agent: Jessica Cao - 0466 877 260

A Georgian style family home in leafy Roseville was snapped up by a young couple who are upsizing from the Lower North Shore.

“The price guide for this home was $3 million, so the vendors were absolutely delighted with the result,” Ms Cao said.

They sellers are a family upsizing. They bought this home with only one child, and now they have four children. The kids are older and need some more space. They love the area so they are moving locally.

28 Azalea Grove, Pennant Hills

• Sold under the hammer for $2.85 million

• Five registered bidders, two active

• Ray White Upper North Shore

• Lead agent: Nathan Leuzzi - 0412 975 190

Mr Leuzzi said the winning bidders were a couple moving from Turramurra to the area.

“They like the idea of it being close to the train station and shops,”

“It was a great, strong campaign with great buyer numbers through the home. We are finding the market quite strong from our side. We have had all our auctions selling really well under the hammer,” he said.

“We had over 30 groups through the home in the first open. For good quality homes, there are plenty of buyers,” he said.

26A Hampstead Road, Dulwich Hill

• Sold under the hammer for $2.435 million

• Five registered bidders, four active

• Ray White Surry Hills

• Lead agent: Ercan Ersan - 0423 941 112

• Auctioneer: James Keenan, Ray White

The winning bidder of this beautifully-renovated Victorian style terrace home was a woman upsizing from an apartment in Alexandria.

“The seller was a builder who flips properties; he converted this from a two-bedroom house into a four-bedroom,” Mr Ersan said.

“Of the five auctions we have today, four of them should easily sell. We are seeing incredibly strong bidder numbers and large crowds at open homes which is unusual for the time of year.”

Ray White Victoria and Tasmania chief auctioneer Jeremy Tyrrell said while it might look like winter in Melbourne with thick fog blanketing the city, the real estate market feels more like spring with auction volume surging and plenty of buyer activity.

“This week, the Ray White network in Victoria had 231 auctions scheduled, a whopping increase of 183.6 per cent year on year and representing one in every four auctions held across the state, or 25 per cent of the entire market,” Mr Tyrrell said.

Buyer activity remained high with the average active bidder count at 2.5 and a rise in the overall clearance rate to 74.6 percent.

“Listing volume is unseasonably higher than the typical winter market we've been used to in the past, however population growth and a highly active first home buyer segment is seeing demand keeping up with supply,” he said.

3 Fiona Court, Gladstone Park

• Sold under the hammer for $1,005,000 (above reserve by $145,000)

• Five bidders

• Lead agent/auctioneer: Malek Younan - 0411 504 016

• Ray White Gladstone Park

A 70s style brick home was the second highest sale ever in the suburb, with Malek Younan having broken the record with a $1,010,000 sale last year.

“There were over 60 people who came along to watch the auction unfold, and the winning bidders were a couple from Stathmore who have been looking for six months,” Mr Younan said.

The seller bought this home off market for $820,000 only 12 months ago and made a few cosmetic changes.

“The sellers are downsizing closer to the city. They are absolutely thrilled, and there were some tears at the auction today,” he said.

1/13 Bletchley Rd, Hughesdale

• Sold under the hammer for $1,360,500 (above reserve by $315,500)

• Eleven bidders

• Ray White Oakleigh

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

Jonathon Eaves said that the auction was an absolute marathon, with over 100 bids called by the end, “It was like being in an auctioneering competition!”

“Two townhouses in this street sold this year for $1,040,000 and $1,012,000, so we were absolutely staggered when the bidding reached such heights,” he said.

“The price point up to the mid $1 million’s is experiencing huge buyer numbers,” he said. “Winter is a great time to sell; there is not a lot of competition. If people are away on holidays, it doesn’t limit them from calling in. We had one bidding on holiday in the south of France who called in.”

The winning bidder was a first home buyer. The sellers were committed elsewhere, with two children they had decided it was time to upsize.

“We had over 260 inspections on this property. They were mainly young first or second home buyer couples,” he said.

“The excitement was just buzzing through the sellers. None of us could have predicted such an incredible outcome.”

Ray White Queensland chief auctioneer Gavin Croft said the low stock levels have continued into winter across Brisbane.

“The winter months have been a godsend for home sellers. The lack of choice is resulting in high registered bidder numbers,” he said.

“I have had 12 and 10 registered bidders on my auctions so far this morning. We expect much more of this. June seems to be a very good sign for Brisbane home sellers,” he said.

Ray White Collective auction event

• 79% of properties sold under the hammer - 19 of 24 properties

• $28,751,075 worth of property sold

• Held at the Calile Hotel, Fortitude Valley

Ray White Collective principals Matt Lancashire and Haesley Cush said they were blown away by selling almost $30,000,000 worth of Brisbane real estate under the hammer today.

“It was quite an incredible auction with more than 60 registered and I think it was probably our best auction event ever,” Mr Cush said.

“It was comparable to those pandemic auctions where everything sold, but you weren't in the room with everyone in those days, so it had the best feeling for as long as I can remember.”

There were registered bidders and active bidding on every property in the event. “We even had a registered bidder, tuning in from Antarctica to bid for 84 Haven Road Upper Brookfield,” Mr Cush said.

A Brisbane-based scientist who is on expedition in Antarctica for a few months, was dialled in on satellite phone to his wife who was bidding at the Calile Hotel.

Mr Lancashire said last weekend’s changes to stamp duty for first home buyers lit up the unit market today. “The first home buyer territory is on fire.”

“The real estate market in Brisbane is being underpinned by a stock crisis and the interstate migration rates are at an all time high,” he said.

“We are the start of our golden decade. You want to buy in 2024 not 2032,” Mr Lancashire finished. He expected three of the remaining properties would be sold before the day was out.

The highest sale for the event was of 62 Liverpool Road, Clayfield which sold under the hammer for $4.33 million.

The highest number of bidders showed up to place their bids for 2/19 Pashen St Morningside, with 17 registered bidders. The unit sold for $622,000 with the sellers making a tidy profit; it was purchased for $295,000 at the end of 2021. The sellers were a mother and daughter duo, who then went on to sell their other property at 22 Thomas Street, Camp Hill. The home sold to first home buyers for $1.36 million.

UNDER THE HAMMER HIGHLIGHTS:

2/19 Pashen Street Morningside

• Sold under the hammer for $622,000

• Lead agent: Harry Kiss

607/40 Longland street Newstead

• Sold under the hammer for $1,715,000

• Lead agent: Andrew Edwards

18/37 School Street, Kelvin Grove

• Sold under the hammer for $1,817,500

• Lead agent: Matt Lancashire

84 Haven Road Upper Brookfield

• Sold under the hammer for $2,440,000

• Lead agent: Robin McIllwain

2801/27 Charlotte Street, Chermside

• Sold under the hammer for $710,000

• Lead agent: Simon Petrie

24 Constitution Road, Windsor

• Sold under the hammer for $1,550,000

• Lead agent: Nicholas Given

62 Liverpool Road, Clayfield

• Sold under the hammer for $4,330,000

• Lead agent: Natalie Rasmussen

412/78 Arthur Street, Fortitude Valley

• Sold under the hammer for $688,000

• Lead agent: Frances Charisma

22 Thomas Street, Camp Hill

• Sold under the hammer for $1,360,000

• Lead agent: Harry Kiss

381 Hawthorne Road, Hawthorne

• Sold under the hammer for $1,175,000

• Lead agent: Brandon Wortley

26 Prince St, Paddington

• Sold under the hammer for $2,005,000

• Nine registered bidders, four active

• Lead agent: Judi O’Dea - 0417 009 635

• Ray White Paddington

A little renovator in the heart of Paddington drew in an enormous crowd, as an investor offloaded this home after Ms O’Dea helped him purchase it four years ago.

“The buyer is an architect and his young family who recently sold in the area. He has a little girl and it is going to be their family home, which I am sure he will do something wonderful with,” Ms O’Dea said.

The 491 sqm block of land sits proudly between the two precincts of Paddington and Rosalie.

“It is perfectly liveable but has so much potential, with a beautiful connection to the backyard. This result is raising the bar on local cottages,” she said.

The auction wrapped up in 10 minutes, after it opened at $1.4 million. It was announced at the market at $1.85 million.

Ray White South Australia chief auctioneer John Morris said that it was a sea of yellow at auctions in Adelaide and throughout the state today.

“Throughout 2024 so far we have had an average of 7.2 registered bidders, with 3.6 of those participating, which has resulted in 83 per cent of properties selling under the hammer this year so far,” he said.

“Last week we had 90 per cent of auctions sell under the hammer. We are looking like we will finish the week in the same manner. Ray White are dominating 47 per cent of auctions throughout South Australia, which are just incredible numbers yet again.”

71 William Street, Norwood

• Sold under the hammer for $1.66 million (above reserve by $110,000)

• 24 registered bidders, five active

• Ray White Norwood

• Lead agent: Vanessa Bianco - 0426 031 255

• Auctioneer: Joe Hibeljic, Ray White

Ms Bianco said that the winning bidder was a local couple who are already in the area, and are planning on building a home to retire in here.

“It was a very loved family home, in the same family for many years. The seller was in his 90s and moving into care,” she said.

“The kids were involved in the sale and it was very emotional; this really helps them take the next steps for their dad.”

Ms Bianco said there were over 100 people in attendance at the auction, including all the friendly neighbours in the street.

18 Graham Street, Para Hills

• Sold under the hammer for $795,000 (above reserve by $137,000)

• 23 registered bidders, seven active

• Ray White Tea Tree Gully

• Sam Doman - 0412 572 602

Sam Doman said that the auction was going so fast he almost had to ask the crowd to slow down and the atmosphere was electric.

“This block has so much potential, you could fit two of three homes on it, or live in it,” he said. “This is a really solid area; it is ever growing. All the people in the area should be loving this result.

“The winning builder was a builder who did all their homework prior, to figure out he can build three homes on the block. There were multiple builders competing against each other, which was the reason we had such a good result.”

“I have always celebrated auctions within our group; you create such strong competition out in the open.”

The sellers have bought a property up in the Hills through Mr Doman, which puts them in great stead for the future.

29 Osborn Terrace, Plympton

• Sold under the hammer for $1.261 million (above reserve by $161,000)

• 24 registered bidders, eight active

• Lead agent: Adam Keane - 0421 225 630

• Ray White Glenelg

The auction of this humble family home in the middle of Plympton put on a fantastic show for bidders and onlookers alike.

Adam Keane said that the sellers were a family moving their 92 year old mother into care, and it was a very emotional day for them.

“They wanted north of $1 million, so they were just over the moon when the hammer went down today,” he said.

The winning bidder is a Chinese family who have just relocated to the area, and they have bought a few homes in the area recently since moving.

“We can’t get enough houses to sell at the moment, especially those on a decent sized block that has some upside,” Mr Keane said.