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Ferocious bidding from buyers across the country has resulted in a healthy clearance rate for the Ray White Group this Saturday.
After the leading real estate group posted a 75 per cent preliminary clearance rate, it’s clear rising interest rates haven’t deterred many buyers from their property dreams. The clearance rate soared this week with many bidders not holding back.
Nationally, Ray White recorded an average of 4.3 registered bidders and 2.6 active bidders attending auctions across the country.
Sellers on the other hand made an extra 11.6 per cent on their sale, compared to if they had taken the highest prior offer. With volume down it means fewer listings to compete against for sellers.
The top sale of the day was a gorgeous Queenslander in Clayfield sold by Ray White New Farm agent Tom Lyne and principal Matt Lancashire. The six bedroom home, complete with a tennis court sold for $6.2 million to a family looking to upsize.
Meanwhile, Tan Nguyen from Ray White Thomastown in Melbourne had the highest number of registered bidders for the day. Mr Nguyen and co-agent Tony Alessandrino sold 3 Loddon Ct, Thomastown for $840,000 to a family home buyer and had 29 buyers registered for the auction after 160 inspections in just four weeks.
BRISBANE
Ray White Queensland chief auctioneer Gavin Croft said there had been some real behavioural changes at auctions at the start of this year.
“To see examples of buyers opening up bidding above reserve, it tells you that there’s a sentiment change in the market,” Mr Croft said.
“We’ve had some unbelievable energy in the marketplace. Some real positive signs for Brisbane early in the year and it will be interesting to see how long the energy will last for.
45 Christian St, Clayfield (pictured above)
Sold for $6.2 million
Two registered and active bidders
Lead agent: Tom Lyne - 0423 696 862
Ray White New Farm
Auctioneer: Haesley Cush, Ray White
“The house itself, a Queenslander with a tennis court, was immaculately presented. It’s a trophy house and an aspirational purchase,” Mr Lyne said.
“The reason we had the interest we did was because it’s a turnkey property. You can walk in and enjoy it from day one and nothing needs to be done.
"We had really good interest both from local buyers and interstate buyers. It was a local family who bought it, they’re upgrading and wanted to be close to some of the local schools. The sellers were downsizing.”
Ray White New Farm and Ray White Bulimba Auction Event
Media contact/auctioneer: Haesley Cush - 0421 057 233
Total sales value: $21 million
79 per cent clearance rate
30 registered bidders in total
“It was our first in-room event for 2023 and we wanted to see if our experience in the market, which is contradictory to some reports, was going to be true when the rubber hit the road at auction,” Mr Cush said.
“We’ve seen a high volume of enquiry from both local and interstate buyers. Interest has been strong across the apartment and prestige markets.
“We saw our first lot, the Graya-built 98 Howard St, Paddington, sell under the hammer for $4.45 million through Josh Brown. And another successful sale, 12 Maxwell St, New Farm went for $4.15 million. There was a property at 101 Bulimba St, Bulimba that sold for $2.95 million.
“On the apartment front, 118/38 Skyring Tce, Teneriffe sold for $880,000 while 2/228 Vulture St, South Brisbane sold for $505,000. Of the eight units that were set to go to auction today, we had seven sold. And of the properties over $2.5 million, we had four sold.
“These are the results that matter, there’s a lot of reports of what’s happening in the market based on out of date data from August and September contracts that have settled in October and November and people are using those to indicate what’s happening.
“In terms of open home numbers, bidding and offers, the market is a lot stronger in Brisbane in 2023.”
22/130 Alexandra Pde, Alexandra Headland (pictured above)
Sold for $3.3 million
Eight registered bidders and four active bidders
Lead agent: Candice Contencin - 0412 880 084
Ray White Mooloolaba
Auctioneer: James Goldsworthy, Ray White
“The buyers were a couple downsizing from a larger home a suburb over. They were a beautiful couple who came to every open home since the beginning, intent on securing it,” Ms Contencin said.
“The seller is extremely pleased with the result, with this having set the unit record for Alexandra Headland.
“I had a big mix of buyers, the ages ranged from a young woman who is a professional deep sea diver to a middle aged couple looking to come closer to this section of the coast all the way through to the eventual buyers.
“There was a lot of local enquiry but also some interstate interest as well. Buyers enquiring all the way from New South Wales, Ballina, Sydney, Melbourne, Noosa and north Queensland.
“The views were the big drawcard, the penthouse has panoramic views of almost 360 degrees. Because of that you have a different scene to wake up to every day. You might see a stunning sunrise or a beautiful storm over the water.”
12 Bowline Rd, Mermaid Waters (pictured above)
Sold for $1.150 million - $250,000 above reserve
22 registered bidders and nine active bidders
Lead agent: Travis Miller - 0402 192 681
Ray White Burleigh Group
Auctioneer: Mitch Palmer, Ray White
“The house was really popular because of its potential,” Mr Miller said.
“There was interest from a lot of builders, developers and renovators because it’s pretty much a knock-down property.
“Most were local buyers but we did have six interstate buyers bidding over the phone.
“The buyers are a young couple (pictured at top) who plan to renovate the home.”
MELBOURNE
Ray White Victoria chief auctioneer Jeremy Tyrrell said the real estate market withstood the cool change sweeping across Melbourne as there was plenty of heated competition with some extraordinary results.
“Location, quality, presentation, value and fair seller expectations were still the motivating ingredients to fuel buyer interest today,” Mr Tyrrell said.
“From 131 scheduled auctions, preliminary results show a strong auction clearance rate of 75 per cent, with buyer interest remaining consistent at 4.4 on average in attendance and 3.1 active bidders. These are some of the highest numbers of bidders we've seen since the middle of 2022.
“Another encouraging sign was the sale price versus reserve price jumping up to 6.5 per cent on average, compared to 4.7 per cent and 3.8 per cent for the last two weeks respectively.
“While there appears to be a trend emerging where owners are opting not to auction, the data and results suggest this could cost vendors a significant amount, especially where the supply of property on the market has dropped and buyer demand remains high.
“The competition created under auction conditions continues to produce strong results in a transparent forum.”
135 Somerset St, Richmond (pictured above)
Sold for $4.2 million - $1.15 million above reserve
Five active bidders and a crowd of about 300 people
Lead agent/auctioneer: Brad Cooper - 0418 344 733
Ray White Balwyn
Owned by Help Pay founder Andrew Ellett, the four bedroom home in the sought after suburb of Richmond sold to an owner occupier (pictured below with Mr Cooper).
“Two bidders really pushed it up towards the end of the auction. I’ve never seen anything like it,” Mr Cooper said.
“The underbidder was a single guy buying for himself, he only saw the property a week ago.
“Interest came from both the older demographic and then some buyers in their 30’s. Some were downsizers while others were upsizers from the area.
“There was a crowd of about 300 people there and we had more than 150 people come through the house during the campaign.
“Buyers were drawn to the sharp renovation.The fact that it had a pool in Richmond, spanned four levels and had a beautiful rooftop with amazing views of the city were all wow factors for buyers.”
1104 North Rd, Bentleigh East (pictured above)
Sold for $2.51 million
Eight registered bidders and six active bidders
Lead agent/auctioneer: Tom Grieve - 0417 377 586
Ray White Carnegie
Seller, Helen Vu, built the house with her late German Shepherd, Jimmy, in mind, complete with an outdoor doggie shower and his own bedroom.
“One of the bidders saw a story on the back story of the home and decided to bid over the phone sight unseen. He has a few German Shepherds so he loved the story,” Mr Grieve said.
“The winning bidder was an owner occupier buying it for him and his family.
“I had a lot of inter-generational families looking at the home as it has seven bedrooms and eight bathrooms. I also received international interest from buyers from China and the UK who want something big enough for their extended family to stay in when they come to Melbourne.”
1/26 Willesden Road, Hughesdale (pictured above)
Sold for $1.24 million - called on the market at $1.1 million
Seven active and registered bidders
Lead agent: Jin Ling - 0457 777 712
Ray White Carnegie
Auctioneer: Tom Grieve, Ray White
“The buyer was the underbidder from when we sold next door in October 2022. A young family of three, they currently rent locally and love Hughesdale,” Mr Ling said.
“The sellers are a family of four and they are upsizing. They’ve been there for 10 years and poured their heart and soul into a comprehensive renovation in 2016. He’s an engineer and is so meticulous which is fantastic. They were over the moon with the result.
"We had a good mix of downsizers, first home buyers and young families and a crowd of around 70 to 80 people.”
SYDNEY
Ray White NSW | ACT chief auctioneer Alex Pattaro said there was a real positive shift making its way back into the market.
“This is reflected with higher clearance rates and bidder numbers as well property prices,” Mr Pattaro said.
“Buyers need to get in quick or risk property prices making their way back up.
“And sellers should have no fear about coming to the market as the market conditions are better now than they previously were.”
Sold for $3.26 million
15 registered and four active bidders
Lead agent: David Beveridge - 0411 225 167
Ray White Upper North Shore
“The buyers were a local family looking to build something of their own,” Mr Beveridge said (pictured above with the sellers).
“Throughout the campaign, we mainly had buyers coming through who were looking for something to knock down and rebuild. They were drawn to the location and potential of the block.”
38 Trevilyan Ave, Rosebery (pictured above)
Sold for $3.535m - on the market at $3.3m
Six registered bidders and two active bidders
Lead agent: Roger Wardy - 0481 355 493
Ray White Touma Group
Auctioneer: James Keenan, Ray White
“The property was bought last year and sold for more than what it did about nine interest rate rises ago,” Mr Wardy said.
“The buyers were a family from North Bondi. They have a business locally in Rosebery.
“Interest came predominantly from families. They loved the space, the build and the Spanish-style to it. It’s got a huge pool, on a quarter block and in one of the best streets in Rosebery.”
Sold for $2.13 million - $1.9m reserve
Three registered bidders and two active bidders
Lead agent: Alex Pitsis - 0410 403 704
Ray White Sutherland Shire
“The wife of the couple who bought it was originally from the area but is now living in the eastern suburbs. She was keen to come back to the Shire for the lifestyle and they wanted something peaceful and idyllic,” Mr Pitsis said.
“We had a lot of different people looking at it. A lot of interest came from local buyers because Grays Point is a suburb people buy within, it has a real community feel.
“Some were downsizers but the majority were young families and growing families.
“They loved the privacy, the views and it had a really warm, homely feel - they were the main drawcards.”
Sold for $1.52 million
10 registered bidders and four active bidders
Lead agent: Nicholas Economos - 0409 553 555
Ray White Rockdale
Auctioneer: Alex Pattaro, Ray White (pictured above)
“The buyers (pictured below left) are from Bondi, they are planning to live in it. And the owners (pictured below right) are really happy with the result,” Mr Economos said.
“The home was really popular because it has a lot of character and charm. It's close to the local station and in a great location.
“We had a few local and a few out of area buyers looking at it and the majority were owner occupiers. There was a mix of younger couples all the way up to people in their 50s.
“The auction opened at $1.15m. There was some really strong, healthy bidding from start to finish.”
ADELAIDE
Ray White South Australia chief auctioneer John Morris said this weekend marked the beginning of the Adelaide Fringe, the biggest Fringe Festival in the southern hemisphere.
“But I can tell you ladies and gentlemen that the real theatre is playing out in the front yards of the houses that are going to auction in South Australia this weekend,” Mr Morris said.
“Unbelievable numbers - eight registered bidders per auction so far this week and 4.4 of those participating. And an 89 per cent clearance rate as we entered the weekend last week.
“So even though a rate rise has happened, it doesn't look like it's dampened the market in the slightest, we're still selling two to four per cent above reserve prices.
“While there may be those doom and gloom stories out there, that is absolutely nothing when it comes to the Adelaide market. We are still seeing very, very strong results. And it looks like it's going to be a great February and hopefully a mad March.”
Sold for $1.05 million
10 registered bidders and four active bidders
Lead agent: Linda Clemente - 0409 099 046
Ray White Norwood
Auctioneer: John Morris, Ray White
“The buyers were a family from the other side of town and the auction was pretty quick, we had an interstate bidder start it off,” Ms Clemente said (pictured above with the sellers).
“It’s a renovator's delight so we had a lot of young people looking at this one, hoping to renovate and live in it.”
248 Beulah Rd, Beulah Park (pictured above)
Sold for $1.482 million - reserve was $1.3 million
13 registered bidders and five active bidders
Lead agent: Brandon Pilgrim - 0438 807 061
Ray White Norwood
Auctioneer: George Kargiotis, Ray White
“The buyers (pictured below left with the sellers) were a young, local couple. Interest mainly came from that part of the market during the campaign,” Mr Pilgrim said.
“All the buyers loved that it was a really well done house and neat and tidy.”
