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All eyes may have been on the Victorian state election today, but bidders showed even a trip to the polls couldn’t interrupt their property dreams.
Today, the country’s leading auction group recorded a 69 per cent clearance rate with 3.6 registered bidders and 2.5 active bidders on average per auction nationally.
This week, sellers who sold under the hammer gained, on average 11.36 per cent more on their sale price than if they’d taken a prior offer.
The top sale was held by the Sunshine State today. Ray White New Farm’s Matt Lancashire and Tom Lyne sold 59 Hunter St, Indooroopilly for $5.76 million.
A Georges Hall auction in Sydney attracted the most bidders today. No. 29 Oak Drive had 15 bidders attend the auction and sold for $1.21 million through Ray White Parramatta agent Antoine Ayrouth.
MELBOURNE
Ray White Victoria chief auctioneer Jeremy Tyrrell said not even the Victorian state election kept the buyers away as auction numbers remained strong, with close to 200 auctions scheduled across the state.
“Buyer activity also remained consistently strong with nearly eight out of 10 auctions receiving bids across Victoria,” Mr Tyrrell said.
“There were also a number of reported auctions that achieved very strong results, defying current market sentiment, and as the state braces for the result of the election, it looks like the property market will remain strong for the final few weeks of 2022.”
Sold for $1.487 million - reserve was $1.150 million
Six active bidders
Agents: Cristine Jones and Andrew Tomlinson
Ray White Ferntree Gully
Auctioneer: Jeremy Tyrrell, Ray White Vic chief auctioneer (pictured above)
“It’s been a well loved family home for about 50 years,” Ms Jones said.
“The buyers (pictured below with the sellers) are a family wanting to upsize. They are excited to put their own personal touches on the house and love the central location. They’re also relieved they’ve been able to buy in time for Christmas.
“Most of the neighbourhood is still made up of the original owners so it’s very family friendly.”
29 Marlborough St, Bentleigh East
Sold for $1.53 million - reserve was $1.45 million
Three registered bidders and two active bidders
Agents: Nick Strilakos and Jayden Irving
Ray White Oakleigh
Auctioneer: Matthew Condon, Ray White
“The sellers were relocating their family while the winning bidder was an investor,” Mr Strilakos said.
“It was a really quick auction with some good competition. We had mostly young families looking at it.
“We also sold 26A Chauvel St, Bentleigh East for $836,000 with a $770,000 reserve. We had three active bidders - two young couples and a downsizer - and one of the couples won the bidding.
“They loved the fact that it was a single level home and something they could put their own stamp on.”
9 Moorookyle Ave, Hughesdale (pictured below)
Sold for $1.35 million - reserve was $1.15 million
Seven registered bidders and five active bidders
Agents: Jin Ling and Jennifer Walker
Ray White Carnegie
Auctioneer: Tom Grieve, Ray White
“The bidding went in unusual increments. The first bid was $960,000 and then the second bid was $1.2 million so it was called on the market almost straight away,” Mr Ling said.
“The buyers (pictured above) were a young family of four who live in Bentleigh East. They were looking to upsize and were very attracted by the potential of the home - you could knock it down or bring it back to life.
“All of the bidders were young families wanting to get into the area. The main reason for that is the excellent location and the very family focused neighbourhood."
286 Warrigal Rd, Oakleigh South
Sold for $1.22 million - reserve was $900,000
10 registered bidders and five active bidders
Agents: Leigh Kelepouris and James Rasool
Ray White Oakleigh
Auctioneer: Jonathon Eaves, Ray White
“The purchasers (pictured below) actually sold their property through me this morning, on the same road, and then came up to this one and bought it as their next family home. It makes it a lot easier for them that they are only moving down the road,” Mr Kelepouris said.
“The sellers have decided on a lifestyle change and are now moving to the country.”
11 Hazelwood Crt, Hoppers Crossing (pictured below)
Sold for $607,000 - the reserve was $560,000
Nine registered bidders and five active bidders
Agents: Robert Krnjeta and Eben Geelhuizen
Ray White Werribee
Auctioneer: Robert Krnjeta
“The sellers made a spontaneous decision to sell their house, buy a campervan and travel around Australia,” Mr Krnjeta said.
“The buyer was a first home buyer and so were the rest of the bidders except for one investor.
“There was some competitive bidding and it started off very quickly. As soon as it was called on the market, that’s when things took off.”
SYDNEY
Ray White New South Wales chief auctioneer Alex Pattaro said it was clear from the activity today that buyers were eager to get in before Christmas.
“We’re seeing some steady prices across all of Sydney and that’s reflected in the number of bidders and our clearance rate, which are both increasing from earlier parts of the year to more normal levels,” Mr Pattaro said.
“Now is a great opportunity to sell before interest rates continue to go up.”
18 Lodge St, Forest Lodge (pictured above with the sellers)
Sold for $2.93 million - $2.75m reserve
Four registered and active bidders
Agents: Matthew Carvalho and Bianca Field
Ray White Surry Hills
Auctioneer: Tim Snell, Ray White
“The bidding started at $2.5 million and the house was bought by a young family from Chippendale,” Mr Carvalho said.
“It was a good campaign, we had 100 groups through the house. It was pretty much all families bidding today but there was also a couple in Melbourne, bidding on the phone, who were looking at downsizing and relocating to Sydney.”
Mr Carvalho and Ms Field also sold 53 Lombard St, Glebe (pictured above) shortly after for $1.91 million with auctioneer Tim Snell. The auction attracted five registered bidders and the buyers were a downsizing couple from the Hills area (pictured below). The underbidder was a young man travelling in Hong Kong who bid over the phone.
Sold for $1.405 million - reserve was $1.3 million
14 registered bidders and three active bidders
Agents: Nicholas Economos and Tarun Cross
Ray White Rockdale
Auctioneer: Alex Pattaro, Ray White NSW chief auctioneer
“The buyers (pictured below) were a young couple coming from Dulwich Hill. They bought the house to live in and absolutely fell in love with it during the campaign,” Mr Economos said.
“All the bidders were owner occupiers. One woman had just sold in the inner west and the other bidders were a couple.
“In this area, there’s still lots of buyer activity. Obviously the nicer homes are attracting more interest but there’s still lots of buyers out there.”
BRISBANE
Ray White Queensland chief auctioneer Gavin Croft said the clear theme from today was a large volume of sold prior auctions.
“It makes sense since we’re really on that precipice of 30 days or thereabouts until Christmas. Those with an urgency to be secured and settled and move in prior to Christmas, they’d do everything over the course of this week to secure property,” Mr Croft said.
“On the auction floor today we’ve seen buyers with that little bit of added urgency, there was a real need to get in and move before Christmas.”
The highlight of the day in Brisbane was the sale of 59 Hunter St, Indooroopilly for $5.76 million through Ray White New Farm’s Matt Lancashire and Tom Lyne. The auction attracted 14 registered bidders and seven active bidders. A local buyer came out on top as the winning bidder.
Ray White Toowong principal Reuben Packer-Hill and Mr Lancashire also sold 67 Duke St, Toowong (pictured above) for $2.78 million today. Ray White New Farm agent Claudia Marchand sold 2/10 Oxlade Drive for $1.475 million and Ray White New Farm’s Annette Richards had a successful auction sale for $980,000 at 3/738 Brunswick St, New Farm.
“It was a 100 per cent day for us today. We’ve still got strong interest in units and the finished product, brand new properties are still commanding a lot of interest,” Ray White New Farm principal and auctioneer Haesley Cush said.
“Duke St was full and iconic residences like Hunter St are as popular as ever.
“People know the 10 year outlook for Brisbane is good and they are taking advantage of buying before Christmas. We offer double the lifestyle for half the price.”
Sold for $2.125 million
Three registered bidders and two active bidders
Agents: Judi O’Dea and Michael Kleimeyer
Ray White Paddington
“The winning buyers were actually a couple who were in Canberra for the weekend so they had a representative bidding on their behalf,” Ms O’Dea said.
“Coming across from Teneriffe, they wanted something with the same glamour and lifestyle, which is why they chose Paddington. They loved the house from the moment they first saw it and one of the partners said to me they can imagine coming home after a hard day at work and jumping in the pool.
“The sellers (pictured above) have lived in the home for over 12 years, they did a renovation about ten years ago and picked up the original crumbling cottage and moved it to the front of the block.
“But one of the clever things they did was they turned the old, brick garage into a studio and one of them uses it for work. So many buyers fell in love with the concept of being able to work from home but still walk outside to the studio.
“The backyard and the pool were the heroes of the house. And the sellers have made the compact spaces beautiful.”
ADELAIDE
Ray White South Australia chief auctioneer John Morris said the streets of the east end of the city were being overtaken by supercars and superstars for the Adelaide 500 this week.
“But everyone knows that the real action is taking place in front of the many yellow boards that are advertising the Ray White auctions going ahead today," Mr Morris said.
“And boy, there are a lot of them - 36.45 per cent of all auctions throughout South Australia this financial year so far have been Ray White auctions.
“It's looking like the market is still staying extremely strong, the clearance rate as a whole combined throughout the financial year again, has stuck around about that 70 per cent mark as well.
“Auction is still the way to sell in and around Adelaide and South Australia.”
13 Lincoln Ave, Manningham (pictured above)
Sold for $751,000
Eight registered and five active bidders
Agents: Andrew Welch and Betina Malpas
Ray White Kensington
Auctioneer: John Morris, Ray White SA chief auctioneer
On Friday, the Ray White Kensington team had double the auction success selling 13 Lincoln Ave, Manningham and 79 Somerset Ave, Cumberland for well above reserve.
“The buyers of Lincoln Avenue were buying the home as an investment and have plans to later knock it down and build their retirement home,” Mr Welch said.
“It was a strong campaign but the numbers through our open homes weren’t huge and we felt like we were light on, but the week of the auction drew all the buyers out. The power of the auction with a deadline date really brought the buyers out and created competition.
“Agent Tim Knowling also sold Somerset Avenue, it went for $875,000 - again above reserve. There were three registered bidders and the buyers were a young couple who had been looking for a while for their family home.”
Sold for $620,000
Four registered bidders and three active bidders
Agents: Justin Irving, Damanjeet Singh and Winston Coxon
Ray White Salisbury
Auctioneer: John Morris, Ray White SA chief auctioneer
“Both the buyers (pictured above) and sellers were local investors. It’s a nice, solid home that doesn’t need any work whatsoever so that was a real drawcard in all the bidders eyes,” Mr Irving said.
