Fierce bidding action across Australia

THE post-Easter market continued to see buyers out in force at auctions, with some fierce bidding reported across the nation as determined purchasers came prepared to secure their dream homes.

Australasia’s largest property group had booked 567 auctions to go under the hammer this week, with 352 on Saturday alone. The preliminary national clearance rate of 82 per cent, maintained the streak of above 80 per cent for the last 10 weeks. The highest performing markets were in Brisbane and Adelaide where Ray White members cleared 100 per cent of auctions by late Saturday.

In a trend that seems to keep skyrocketing week after week, many sellers pocketed a significant amount above their set reserve prices. The resounding sentiment from auctioneers, agents and sellers was one of determination that they decided to take their properties all the way through to auction day, instead of selling prior.

Ray White New South Wales Chief Auctioneer Alex Pattaro said there was a larger than normal number of registered bidders today with eight per lot recorded in Sydney today.

“Buyers are anticipating that prices are going well above the price guides due to the fierce competition so they know that they will have to push a bit higher to secure their home,” Mr Pattaro said.

“Buyers are prepared to go slightly above their absolute maximum finance approved limits.

“Family homes are still the most desired asset class, with most buyers chasing them in all desirable locations.

“Open home attendances continue to remain strong too.” Mr Pattaro said there was an influx of investment stock coming onto the Sydney market. “It’s a great time to buy an apartment as this section of the market hasn’t exploded to the same extent as houses. Investors are definitely coming back to the apartment market.”

The auction of 77/11 Yarranabbe Rd, Darling Point (pictured above) was special in every sense of the word. The quaint original unit with spectacular views of the harbour sold for $1,700,000, with all proceeds of the sale - including the agent’s commission - going to St Vincent’s Private Hospital.

The unit belonged to nurse Anne Elizabeth “Nan” Kearins, who died at age 101 had worked at the hospital herself for more than 70 years, leaving one lasting legacy to help with the training of future nurses.

Agent Walter Burfitt-Williams of Ray White Taylor & Partners also donated his entire selling fee to the hospital, having also been a lifelong supporter himself.

“I feel honoured to have been part of Nan’s legacy. My family and I have been a supporter of the hospital for generations and I admire the amazing work that they do,” Mr Burfitt-Williams said.

“Nan was such a wonderful character of this unit block, and all the neighbours and hospital representatives came along to watch and support today.”

Tim Daniel, Chief Executive Officer at St Vincent's Private Hospital Sydney was blown away by the legacy Ms Kearins left.

"Nan's 70 years of service to St Vincent's Private were truly extraordinary and we are honoured that her support has continued after her passing. The proceeds from this sale will enable our hospital to continue Nan's vision of empowering and training our nursing staff to grow professionally and provide the best possible care and treatment outcomes for our patients."

In Sydney’s leafy Upper North Shore, the upward trend continued with 45 Carlyle St, East Lindfield selling for $3,780,000, a huge $380,000 above the set reserve price, making for very happy sellers (pictured above).

Ray White Upper North Shore agent Jessica Cao said the textbook auction campaign was a big success, attracting 10 registered bidders on the day to sell in an open and transparent way.

“My sellers were overcome with emotion as the result today was beyond all our wildest dreams. They are also very emotional about passing on their family home of over 30 years as they downsize to an apartment,” Ms Cao said.

The buyers were a young family who are thrilled that the property search has come to an end, having missed out on a few of Ms Cao’s auctions over the past few months.

In the inner city, 7 Camden St, Newtown sold for $1,725,000, smashing past the reserve set at $1,600,000. The campaign run by Shaun Stoker from Ray White Surry Hills drew in 11 registered bidders on the day.

The sellers, investors from Goondiwindi in regional NSW (pictured above) who were offloading to purchase a beach house in Kiama, were naturally thrilled with the result of the fierce auction.

“The buyer is a local resident who was looking for a good investment property. We are really noticing investors coming back to play in the market now,” Mr Stoker said.

“I have been in this game for 20 years, and I am confident in saying that this is the strongest I have ever seen the market. It has come so fast as well, particularly in the last eight weeks we have seen intense action,” Mr Stoker said.

Meanwhile, 3 Dawson Avenue in Earlwood went under the hammer and sold for $2,400,000, some $400,000 above its reserve price. The campaign run by Ray White Earlwood Principal Dean Vasil attracted eight registered bidders.

“The bidding started at a huge $1,900,000 and gradually crept up until a new bidder entered the race at the last minute,” Mr Vasil said.

“The buyers (pictured above) are a young couple from nearby who fell in love with the character and location of the home, and plan on restoring it.”

Mr Vasil ran a short and sharp two-week campaign due to the buoyancy in the market and the nature of the deceased estate.

The Ray White Earlwood team then went on to sell an apartment at 21/90-94 Riverview Road Earlwood for $1,300,000, attracting nine registered bidders.

“Our apartment sellers bought a property at auction with us this morning, so the stakes were high!” Mr Vasil said.

“The large apartment market is also strong, particularly with those buyers who cannot quite afford the smaller homes. It has created a new sub category for apartments.”

Ray White Victoria | Tasmania Chief Auctioneer Matt Condon that auction volumes had returned to high levels post the Easter long weekend, with one of the biggest weeks so far for 2021.

“It was great to see that once again, the high volume of auctions was met with an even higher level of buyer demand,” Mr Condon said.

“The weather did not hold back crowd sizes with crowds and bidders out in force, bidding aggressively to secure their desired property,” he said.

“We are seeing a huge demand for quality property, with sellers who choose to come to market being rewarded with exceptional prices.”

In a hattrick of outstanding results, Ray White Rowville’s Nick Strilakos sold three properties under the hammer, all smashing their reserve price and the expectations of the crowd.

The day started with 8 Rigby Mews in Rowville, which sold for $946,500, beating the reserve price of $800,000.

Mr Strilakos said that the sellers (pictured above), a retired english couple who were downsizing, were both emotional about the result and couldn’t believe how far the 8 registered bidders pushed up the price.

Ray White Auctioneer Andrew Freeman said that the bucketing rain in Melbourne couldn’t keep the hungry buyers away this weekend.

“There were so many people here to watch the auction and bid, I could hardly keep track of where all the bids were coming from!” Mr Freeman said.

Nick Strilakos then went on to sell a light-filled family home at 14 Magdalena Place, Rowville $875,000, smashing the reserve of $770,000.

“The vendor is an investor and he is absolutely thrilled with the result, and I am so glad that we achieved it for him,” Mr Strilakos said.

“The buyers were a lovely first home buyer couple (pictured below), who had missed out on no less than six auctions with me this year! So you can imagine how happy they are,” he said.

In his final sale for the day, Mr Srtilakos sold 38 Buckingham Drive in Rowville for $920,000, again smashing the reserve price of $690,000 by $230,000. The campaign saw 12 bidders register.

Mr Strilakos said that the sale for his 92-year-old vendors was incredibly rewarding, and one that will stay with him for years to come.

“I became very close with Arthur and Maud throughout the campaign and developed a lifelong bond,” Mr Strilakos said.

“They were both crying with happiness after the auction, and it made me realise what a huge impact we can have on someone's life, at such an important milestone.”

The elderly couple (pictured below) are moving to a retirement home to be closer to their daughter.

In the city’s east, 21 Janet Street in Boronia (pictured below) sold for $951,000 where the 7 bidders pushed up the reserve of $815,000.

Ray White Forest Hill director Hugh Francis said that the home was incredibly unique, attracting broad interest from young families and first home buyers.

“The home had a lot of character injected into it by the previous owner who had worked in the travel industry. He had incorporated different styles from his travels, such as the firepit inspired from his time in south african, and the balinese garden,” Mr Francis said.

The winning bidders were a young couple with a three year old daughter, who were over the moon to finally end their property search.

“The market is on fire at the moment, just as it seems to be for markets across the entire country,” Mr Francis said.

On the beautiful autumn day in Queensland, buyers and sellers alike were thrilled with the results of many very strong auctions today.

Ray White Queensland Chief Auctioneer Mitch Peereboom said that it had been an electric Saturday closing off an outstanding week of auctions.

“The ravenous buyers in the marketplace want to get their hands on a property as quickly as they can,” Mr Peereboom said.

“All these record prices are a direct result of competition being created at the auction itself, and the sellers that stuck it out were rewarded. The highest offers prior to auction are being blown out of the water every week,” he said.

“All markets are performing really well and we urge all those considering selling to take advantage to these conditions.”

In Upper Mount Gravatt, Ray White Springwood agent Lindsay Battley sold 86 Zetland St (pictured below) for $840,000, smashing the reserve price of $725,000. A whopping 28 registered bidders showed up ready to battle it out, with a young family winning the auction.

“My sellers were a 92-year-old couple who could not believe the result, and were quite emotional about how many people wanted to buy their home,” Mr Battley said.

“This home was a blank canvas which meant it attracted a range of different buyers, particularly those entry level buyers. It is ripe for renovation and in a good pocket.”

Mr Battley saw 216 groups through the property throughout the campaign.

Across the city in the sought after inner northern suburbs of Brisbane, more reserves were smashed with 16 Meecham St, Grange selling for $940,000. The reserve of the deceased estate home was $760,000.

Ray White Wilston Principal Alistair Macmillan said he had seen over 180 groups through the property in the four week campaign and attracted 27 registered bidders.

“The opening bid was $800,000 which was already well above the reserve price, and it rapidly crept up to the $940,000 mark before the hammer fell,” Mr Macmillan said.

“The first home buyer market right now is extremely competitive because of high rental prices and a number of other factors, so anything under the $1,000,000 mark is going crazy,” he said.

The happy buyer Amanda Burke (pictured below) said she and her partner had sold their townhouse in Wilston in February last year and had been looking for the perfect home ever since.

“The best thing we did was actually attend auctions regularly and see how they work. So we came in with a good, strong strategy today,” Ms Burke said.

“We did a lot of research, and after searching for many properties with them, we have built a great friendship with the Ray White Wilston team now. Their professionalism and speed is outstanding,” she said.

“It has been tough, we have been looking for a long time. But it is fun if you win! Our search is finally over.”

One of the day’s standouts was 49 Hipwood Rd, Hamilton which sold for $1,960,000, a massive premium on the reserve set at $1,500,000.

Ray White Ascot’s Damon Warat said 13 bidders registered on the day and the winning bidder was a local family.

“While we are definitely getting a lot of interest from interstate and even international buyers, you can’t underestimate the local bidders,” Mr Warat said.

The vendors were a well established Brisbane horse racing family, the McGills, who also have a street named after them in the area.

The home had been in the same family for 120 years, having sold various parcels of their land over the years with this one being the last remaining.

On the northern end of the glorious Gold Coast, a renovators dream at 150 Government Rd, Labrador sold for $529,000, representing $79,000 above the reserve price. There were 12 registered bidders.

Ray White Nerang Principal Clint Hynes said the vendors, two brothers selling on behalf of their father, were ecstatic with the result.

“The young family who won the auction (pictured above) were first home buyers; there were lots of tears and it was a wonderful result for them,” Mr Hynes said.

“Things are very buoyant on the Gold Coast. If you can get the stock, then you are very likely to get it sold for a good result. We also just set a suburb for upper coomera today, so it has been a great day,” Mr Hynes said.

Congratulations to the newly opened Ray White Indooroopilly office who held their very first auction today at 6 Jarup St, Jindalee which proved to be an absolute success, attracting 11 registered bidders and selling for $808,000 under the hammer of Ray White Queensland Chief Auctioneer Mitch Peereboom (pictured below).

Selling Principal Kirrilli Cobley said the vendors were thrilled to get the result, in front of the huge crowd of 150 people in the leafy street.

“We had a lot of younger families interested in this home because of how well renovated it is, meaning no extra work has to be done,” Ms Cobley said.

In South Australia, Chief Auctioneer John Morris said that auctions are increasing with every agent and agency around the state.

“Bidding has occurred at every single auction this week. Our bidder registrations on average are a staggering 10.5 per auction,” Mr Morris said.

“The big weekends for April are still yet to happen, with many having to be pushed into May due to our auctioneers being booked at maximum capacity,” he said.

In the coastal suburb of Grange, 8 Monaco Crescent sold for $1,000,500 making for very happy sellers who had set the reserve at $890,000. The auction saw 15 registered bidders and a huge crowd show up on the day.

Ray White West Lakes agent Paul Denisoff said that both the buyer and seller (pictured above) were thrilled with the result.

“The buyer is a developer, which we are seeing quite a lot of in Adelaide amongst all the owner occupiers,’ Mr Denisoff said.

Ray White Unley Director Josh Gillespie went on to have two cracking multi-million dollar auctions for the day, kicking off at 24 Angus Street, Goodwood.

The spectacular renovated family home sold for a huge $2,120,000, significantly above the reserve price. More than 200 people came along to watch the auction unfold (pictured above).

“We had 8 registered bidders, and a real mix of buyers, mostly young families and many from interstate,” Mr Gillespie said.

Mr Gillespie said that there is an enormous amount of interest from interstate buyers at the moment, particularly at the higher end of the market.

The Ray White Unley team then went on to sell a sprawling beachside home at 2 Ferry Court, Hove for $1,911,000.

“This home drew in a lot of interest because of its sheer size and proximity to the water.” Mr Gillespie said.

The winning bidders bought the property sight unseen.

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