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The last auction weekend was abuzz with activity, with Ray White scheduling 392 properties to go under the hammer.
The group recorded a preliminary auction day clearance rate of 62.1 per cent.
Buyers were out in force in a bid to secure a home before Christmas, with the country’s leading auction group recording an average of 3.7 registered bidders and 2.4 active bidders per auction nationally.
The top sale was held in Queensland today. Ray White Maroochydore agent Reuben Park sold 1002/67 Sixth Avenue, Maroochydore for $2.55 million.
A Sydney auction in Cherrybrook attracted the most bidders today, with 112 Purchase Road recording 22 bidders and selling for $1.78 million through Ray White Cherrybrook | Thornleigh | West Pennant Hills agent Mitchell Hann.
Today, sellers who sold under the hammer gained, on average, 14 per cent more on their sale price than if they’d taken a prior offer.
SYDNEY
Ray White NSW chief auctioneer Alex Pattaro said there was still plenty of buyer activity, despite being just a week from Christmas.
“We’re continuing to see plenty of buyers looking to secure a home before Christmas. This is going to provide us with a great platform for next year,” Mr Pattaro said.
“We’re expecting a flurry of stock to reach the market early next year and believe the buyer pool currently in the market place will be able to keep up with stock levels.
“There will be plenty of opportunities in the early parts of 2023 for those buyers who missed out this weekend.”
40 Ridgeway Crescent, Quakers Hill
Sold under the hammer for $868,500 - $98,500 over reserve
Ray White Quakers Hill - Josh Tesolin
Eight registered bidders, seven active
Auctioneer: Elliot Shoebridge, Ray White
The buyer (pictured above right with the seller, Mr Tesolin and Mr Shoebridge) was an investor who intends to rent the property out. The seller was also an investor who had owned the property for five years and had decided it was time to sell.
“Interest was driven by the school catchment, lack of stock and buyers wanting to purchase before rates go up again and before Christmas,” Mr Tesolin said.
“There’s not a lot on offer at the moment, they just want to secure something before the end of the year.
“The buyer had been looking for about three months and had been coming to auctions every weekend and finally secured a property here today.”
112 Purchase Road, Cherrybrook
Sold under the hammer for $1.78 million
Ray White Cherrybrook | Thornleigh | West Pennant Hills - Mitchell Hann
22 registered bidders, 11 active
Bidding opened at $1.3 million with the winning bid eventually going to a young family who were upsizing from their home in Quakers Hill.
“I think the home’s potential is what attracted so many buyers,” Mr Hann said.
“Cherrybrook is a great family community with everything you need within a five minute walk.
“It’s a single-level home which is fairly original, which allows the buyers to do up the home to suit them.”
25 Natchez Crescent, Greenfield Park
Sold under the hammer for $1.173 million
Ray White Wetherill Park - Patrick Jerji
19 registered bidders, six active
Auctioneer: James Kerley, Ray White
The winning bid went to a couple who were downsizing (pictured above with the sellers and Mr Jerjji). The sellers were a couple who were relocating and looking for a sea change. They were overjoyed with the result.
“The house had a lot of potential, it was presented immaculately, and there's a supply and demand issue in Greenfield Park,” Mr Jerji said.
“This was the only three-bedroom home for sale in the suburb, and it achieved a record price for a home this size in Greenfield Park.
“There’s been a lot of activity in the lead up to Christmas, a lot of auctions. Demand has increased and confidence is starting to emerge again. Buyers have been more open to chucking out a bid at auction.”
MELBOURNE
Ray White Victoria chief auctioneer Jeremy Tyrrell said there were no auctions scheduled next Saturday on Christmas Eve, making today the last official auction Saturday for 2022.
“Across the state there were 176 auctions scheduled today, with the preliminary Saturday auction clearance rate sitting at a healthy 64 per cent,” Mr Tyrrell said.
“Buyers were out in numbers today as they looked to purchase before the Christmas break.This was evident as we saw 84 per cent of auctions conducted receiving bids.
“Additionally, registered bidders at auction were back over three on average, with 2.2 active, the highest on average in the last six weeks.
“All indicators show a positive end to what has been an otherwise challenging real estate year. There’s all good signs as we move into 2023.”
15 Corbert Court, Ferntree Gully
Sold under the hammer for $970,000 - $145,000 over reserve
Ray White Ferntree Gully - Rene Mawad
13 registered bidders, five active
Auctioneer: Rene Mawad
Mr Mawad said the property had set a suburb record for Ferntree Gully.
“The winning bid went to owner occupiers who were downsizing,” Mr Mawad said.
“They loved the space in terms of the living areas, outdoor spaces and access for caravans on the side.
“The top three bidders were all downsizers, which was interesting because this kind of home is usually popular with first home buyers.”
The buyers had just sold in nearby suburb Wheelers Hill, while the seller and his daughters were upsizing and moving to Wheelers Hill.
21 Molden Street, Bentleigh East
Sold under the hammer for $1.606 million - $306,000 over reserve
Ray White Oakleigh - Nick Strilakos
Six registered bidders, six active
Auctioneer: Matt Condon, Ray White
The property had been in the seller’s (pictured above) family since the 1940s. It was snapped up by a local investor on auction day.
“He is really happy with the result, it’s a bit of an emotional sale, but it skyrocketed above reserve,” Mr Strilakos said.
“We had really good volumes through the property, the school zone played a big part.
“The house is worn but you can subdivide here.
“All the buyers were investors and developers. If it’s in a good area people are willing to fight for it.
“The market has been a bit of an arm wrestle. Those properties which are presented really well or in a good location are holding their own, the ones that aren't are finding it tough.”
Sold under the hammer for $1.121 million - $151,000 over reserve
Ray White Craigieburn - Daniel Diamantopoulos
10 registered bidders, four active
Auctioneer: Daniel Diamantopoulos
“The buyers already lived on the street just a few doors down, they were upsizing and thought one day if this home came up for sale they’d buy it, and they did,” Mr Diamantopoulos said.
“It ticked a lot of boxes for most families. It was immaculate, there’s room for the kids, it’s probably one of the best houses on the market at the moment.
“The seller raised three children here and now they’ve bought a block of land to build their own home locally.”
BRISBANE
Ray White Queensland chief auctioneer Gavin Croft said it had been a strong final auction weekend for 2022.
“The one thing that has stood out this week is there has been some unbelievable added urgency with buyers who want to secure a property prior to Christmas. It’s showing in their behaviour on the auction floor which has been particularly rewarding for the sellers who made the decision to go to auction this week,” he said.
“As we take a moment to reflect on the year, it’s been an incredibly strong year of auctions here in Queensland. The market here is really coming of age and it’s something the consumer is getting used to.
“There’s better transparency, better execution at auction, and we’re seeing the larger volume coming through. I look forward to 2023 being another big year for auctions here in Queensland, and Ray White being at the forefront.“
Sold under the hammer for $2.25 million
Ray White Bulimba - Amanda MacDougall
Four registered bidders, two active
Auctioneer: Haesley Cush
The winning bid went to a family with three kids relocating from NSW and securing their new family home. The sellers were the developers of the brand new home.
“Everyone was very happy with the result,” Ms MacDougall said.
“It’s a new suburb record for that sized block in that postcode.
“It’s been surprising how many people are still actively looking, there’s lots of energy from people trying to nab something before Christmas.
“Most of our buyers had been looking for a few months. It was a great result all round.”
5/63 Charlotte Street, Paddington
Sold under the hammer for $895,000
Ray White Ashgrove - Tamara Lee and Adam Downes
Seven registered bidders, five active
Auctioneer: Phil Parker
The winning bid went to a couple of first home buyers (pictured above), while the sellers had purchased a larger home from Ms Lee in Redhill ready to grow their family.
“The property was in a central location to Paddington,” Ms Lee said.
“It was an entry level townhouse with a double lock up garage.
“It’s a really good starting point to get into the area without paying the higher price tag.”
Sold under the hammer for $1.632 million
Ray White Toowong - Robin Mcilwain
Seven registered, three active
Ms Mcilwain said the auction accumulated 68 bids in total.
“There was good competition with two parties battling it out to the very end,” she said.
“The winning bid went to an investor. All registered buyers were local and most of them were investors.
“It’s an old home that’s capable of being redeveloped in time. It’s 70 years old and in original condition, so there's a lot of potential.
“It doesn't matter what the markets are doing, good real estate in good suburbs will sell regardless.”
The vendors (pictured above) were selling the home as part of an estate.
ADELAIDE
Ray White South Australia chief auctioneer John Morris said the final weekend of auctions for 2022 went out with a bang.
“It’s been a cracker of a weekend so far - of the 22 auctions we have going ahead this week, so far we’ve sold 90 per cent of them,” Mr Morris said.
“There’s been an average of six registered bidders per auction, with 3.5 of them participating.
“I’m looking through the whole year of 2022 and we’ve had unbelievable numbers - 2600 auctions, 75.2 per cent auction day clearance rate, with 6.5 registered bidders per auction on average and 3.2 of those participating.
“This is double what it was in the last normal market in 2019, if not more than double. The clearance rate back then was only about 51 per cent, and registered bidders were well down on what they are now.”
Sold under the hammer for $1.045 million - $45,000 over reserve
Ray White Norwood - Ryan Stapleton
Four registered, two active
Auctioneer: John Morris
Winning bid went to a young local couple with a baby who were upsizing. They were already living in the area.
The seller was a local who was upsizing to another property in Prospect.
“Adelaide is still quite affordable compared to other capital city markets,” Mr Stapleton said.
“Today’s auction was still quite competitive, there was strong bidding from start to finish.
“It’s a beautiful property on a beautiful street.”
