Lockdowns no barrier to online auctions

Despite the lockdowns and tightening restrictions across Australia, the Ray White Group today recorded a national clearance of 80 per cent, maintaining its streak of more than 80 per cent since the start of the year.

The leading real estate group had 400 auctions booked nationally today, and only 15 per cent had sold prior while the rest sold under the hammer, with Melbourne the standout market with a whopping 89 per cent preliminary clearance despite the snap lockdown until Wednesday.

The group’s members are well versed and practised at hosting online auctions and conducting virtual inspections and its members adapted with ease to the latest lockdown.

Ray White Managing Director Dan White said the Sydney real estate industry as a whole was very fortunate to still be able to operate in a very limited manner amid tightening restrictions.

“In Sydney, our front doors are locked to the public, and we are now working remotely outside of office premises unless there is a genuine reason to be in the office. Our members are highly experienced at virtual property tours, 1:1 inspections, and online auctions where the auctioneer will call for bids from bidders watching on their computers. Routine inspections by our property managers are now digital, and all other critical work to maintain properties will observe physical distancing and recommended hygiene measures,” Mr White said.

“We do have many clients that need to move properties for fundamental reasons - be it illness, divorce or other hardships like unemployment. Some have sold properties and are yet to buy their next home, some have bought a new home but haven’t sold their current property.”

“We will be constantly reviewing how we operate to ensure we meet or exceed changing government and community standards. There will be no shortcuts.’

The real estate industry in Victoria is unable to conduct one-on-one inspections during its snap five day lockdown, due to lift on Wednesday 21 June. Yet there was no shortage of activity in the digital auctions today.

Highly regarded auctioneer James Keenan of Ray White Double Bay sold three from three today, and he can boast a 100 per cent lockdown auction success rate.

“All of mine that I have called during this lockdown are selling well above reserve. It’s still a great time to sell as stock levels are very low of late. I hear some agents at other groups are telling sellers to wait to go to market but honestly there’s no reason to wait, go now, as we don’t know what we’ll face in two weeks,” he said.

“We had more than 100 people watching online on Thursday night. People love to look at property, it’s not called real estate porn for no reason and our online views of property go into overdrive during lockdown.”

Ray White NSW Chief Auctioneer Alex Pattaro (pictured) conducted the top auction of the day nationally. Ray White Helensburgh Director Mattias Samuelsson sold the property at 1 Old Illawarra Road, Helensburgh sold under the virtual hammer for a suburb record price of $4.1 million. There were eight registered bidders and five were active in the auction.

Ray White Surry Hills Director Ercan Ersan today sold 62a Neville St, Marrickville for $2.310 million with three active bidders during a fast and furious online auction. The auction opened at $2 million and the reserve was $2.2 million. It sold to a young family who were upsizing from a townhouse in the same suburb.

Earlier in the day Andy Yeung of Ray White AY Realty Chatswood sold this top floor property at 5-7 Larkin St, Roseville for $1.550 million. It had been very popular with first home buyers and investors.

Another agent who has embraced the covid style selling was Ray White Balmain agent Benjamin Martin who today virtually signed up 13 registered bidders and sold Loft 16 Thames St, Balmain for $1.190 million to a local owner occupier. His seller Erin Benjamin was watching online over zoom as she had moved to Mount Tamborine in south-east Queensland.

Mr Martin said the lockdown hadn’t affected the campaign and prior to the closure he took 17 groups through the apartment while he completed 51 private inspections afterwards.

“There hasn’t been any decrease in the level of buyer demand on this property because of the rarity of the block,” Mr Martin said.

The Thames Street apartment was part of the old Christian Brothers at Balmain school block. While still retaining the existing facade, the old school building facing Thames Street had been converted into 12 loft-style apartments.

“I have embraced the covid restrictions as it helped me build a strong rapport with all my buyers. The framework shows people that we can still sell safely in this environment and smart sellers know there’s less competition right now.”

Seller Erin Benjamin said had no hesitation in selling via an online auction as she had full confidence in her agent, Benjamin Martin.

“We had such confidence in Benjamin as we had sold and tried to buy through him before too but I was a tiny bit unsure how the format was going to go but it works so well.” Erin and her husband moved to Mt Tamborine before the first lockdown last year, seeking a lifestyle tree change.

While Victoria was plunged into its fifth lockdown since the start of the pandemic, once again the real estate market remained resilient as vendors and buyers moved online.

Ray White Victoria and Tasmania CEO Stephen Dullens explained that, once again, customers were ready to adjust to ensure the red-hot market could continue undeterred.

“Despite being the shortest amount of time between a lockdown being announced and a weekend full of auctions, our customers and agents have done a fantastic job to once again adjust and move auctions online this weekend.

“While physical auctions and inspections were once again paused, across Victoria we’ve called well over 100 auctions online today. Recording a preliminary clearance rate above 90 percent shows, once again, the underlying strength in the property market across both Melbourne and regional Victoria. Despite the challenges and disruption, it has been fantastic to continue to assist our customers,” Mr Dullens said.

Ray White Victoria Auctioneer Jeremy Tyrell (pictured above) called 17 auctions today in a marathon five hour effort.

The leading group sold more than $75 million worth of real estate today in Melbourne at online auctions alone.

Some standout results from Melbourne today include this single story brick home at 34 Arum Walk, Mernda which attracted a whopping 25 registered bidders, the highest number of bidders of any auction sale in the country today. Ray White Epping sales agent Ben Pellicori sold the house today for its owners at $755,000.

Elsewhere Ray White Victoria Chief Auctioneer Matt Condon (pictured above calling from his spare room at home) called the auction for this brick and tile Hoppers Crossing home at 104 Virgilia Drive which was marketed by Ray White Werribee agent Alex Krnjeta. The property attracted some 24 registered bidders and sold for $672,000. The property was called on the market at $600,000.

Not deterred one bit was Ray White Cheltenham agent Angela Limanis who today sold 23 Allnutt Parade, Cheltenham for $1.564 million during an online auction with seven registered bidders and six of them were active. The price was well in excess of the vendor’s reserve price.

“It was a fast and furious auction. We have been here before. This is lockdown number five and the fear is nowhere near as bad as it had been before as we have done virtual inspections and hundreds of online auctions now,” she said.

“I was so well supported today by our entire sales team of six agents who were all at home and all on the phone with my under bidders - they were doing the virtual floor work from home - and I kept the bids flowing.

“I was very confident going into this auction today but I was by no means relaxed as we had a lot of work to do behind the scenes to go online.

“We could have pushed the auction out by a week but we had great momentum and the buyers all came today.

“Demand is still there and these kinds of five bedrooms homes on 730sqm are few and far between.”

Ray White Queensland Chief Auctioneer Gavin Croft said it had been a very strong week across the network.

““In the last 48 hours, we’ve had Ray White Tugan | Elanora’s in rooms where they had five going up for the evening and a 100 per cent clearance rate. There was a very impressive 40+ registered bidders across the evening,” Mr Croft said.

“Today's on-site auctions have been similarly impressive with 73 Chelford Street, Alderley selling under the hammer with agent Janine McDonald attracting a range of buyers and in a very hotly contested auction with buyers agents and new home owners as well as investors in the mix.”

Ray White Ascot agent Damon Warat today sold 54 Riverton St, Clayfield for $1.5550 million after four bidders battled it out. (Sellers pictured above)

“Some of the bidders were relocating from interstate, which has been a common theme lately. It was a spirited auction from the open at $1.1 million,” Mr Warat said.

“The market is still very active and we are selling lots of real estate. It probably feels like stock is light but the fact is we are just selling it faster. There’s plenty of buyers and we are selling in half the time. The buyer today came through on the very first day of the three week campaign and we had 50 groups through in total.”

Meanwhile, Ray White Ashgrove star performer Tamara Lee today sold 31 Kenwyn Rd, Red Hill for $1.32 million after signing up 18 registered bidders, and 12 of them were active.

“There were a few buyers from Sydney and Melbourne who had people bidding on their behalf, plus a few investors and a lot of locals. It had been a long term investment property.”

The new owner is over the moon and plans to renovate the three bedroom home on 405sqm, opposite Gilbert Park.

Elsewhere, Ray White Spring Hill agent Sam Alroe today sold 26 Eureka St, Kelvin Grove sold for $1.785 million. There were some 14 registered bidders keen on the property on an 810sqm block. Auctioneer Haesley Cush took a high opening bid of $1.5 million and the property sailed up to its final price of $1.785 million.

Ray White South Australia Chief Auctioneer John Morris (pictured above) said it had been a cracking say in Adelaide today.

“The news this week that Adelaide is Australia's top auction market by way of clearance and bidders in July comes as no surprise to me as I'm living through it day by day, week by week and this Saturday was no different,” Mr Morris said.

“July is shaping up to be an absolutely incredible month for auctions in and around the state.

“Yet again we dominate the market share in South Australia with yellow flags absolutely everywhere as we have about 33 per cent of all auctions this week Ray White branded.

“My average bidders per auction today has been at 13, which is just continuing on from strength to strength.

“I can't see that going away anytime soon.

“I've sold almost everything under the hammer, and there is just one more that is in negotiation, but it's looking so close that will be 100% by the close.

“I cannot see this market changing throughout July, even definitely into August as I am booked out for many, many weeks ahead.”

Ray White Port Adelaide agent Rick Schutz today sold 2A Edgecombe St, Woodville after signing up 12 registered bidders who battled it out and the property sold for $592,000 some $62,000 over its reserve.

“A very similar house sold three weeks ago for $465,000, so it’s a fantastic result for my sellers Judy, Jeff and Chris who grew up in the home which their father built in the 1960s.”

“The home was built by the same family and lived in for over 60 years.”

Elsewhere, Ray White Norwood agent Stefan Sciliano signed up 16 registered bidders at 43 Marmion Ave, Blair Athol which sold for $647,000.

Today Anthony Fahey of Ray White Henley Beach also sold this sought-after house at 12 West Beach Rd, West Beach for $1.440 million in front of a large crowd of 80 people. “Great location, and it was hotly contested by some developers and owner occupiers,” Mr Fahey said.