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On what would usually be a quiet Saturday in the auction arena, the Anzac Day long weekend delivered unusually high auction volumes, strong clearance rates and bidders arriving in hoards across the country.
Australasia’s largest real estate group recorded a preliminary auction day clearance rate of 80 per cent across the country, representing a 4 per cent increase on last year’s Anzac Day Saturday.
It appeared that sellers and buyers couldn’t put off their transactions any longer after Easter; the Ray White Group had 260 properties booked to go under the hammer today.
The resounding feedback from agents around the country was that the long weekend was a way to qualify serious buyers, who were ready and willing to bid strongly today whether in person or over the phone.
The standout city from the day was Sydney, which recorded a huge 94 per cent clearance rate across the city.
Taking out the highest sale of the day was an architecturally significant Perth home at 181 Broome St, Cottesloe, selling for $3,650,000 and purchased by the next-door neighbours.
SYDNEY
Ray White New South Wales chief auctioneer Alex Pattaro said it was evident today that there were plenty of opportunities for buyers and sellers around Sydney.
“Sellers can take full confidence that the prices they are obtaining in the current market are extremely strong and in some cases substantially higher than 12 months ago,” Mr Pattaro said.
“Sellers must understand that they are selling and buying within the same marketplace.”
“If you are selling for a little less than anticipated, then you are likely to buy at a little less than expected.”
45 Thomas St, Darlington (pictured above)
Ray White Surry Hills - Moira Verheijen and Shaun Stoker
Sold under the hammer for $1,825,000, above reserve by $225,000
15 registered bidders, 6 active (buyers and sellers pictured above)
Auctioneer: James Keenan, Ray White
Sitting on a tiny 98sqm block of land, the architecture of this terrace workers cottage had been designed to utilise the space to the absolute maximum.
“This was a beautiful, emotional sale for the owners who lovingly renovated this terrace cottage and have now made a tree change to Orange,” Ms Verheijen said.
“The buyers were a young owner-occupier couple, who said that they could feel the love and devotion that had gone into renovating the home. It was a nerve wracking auction, with bidding starting at $1.4m, crawling to $1.6m but then it absolutely kicked off,” she said.
Ray White Georges River | St George | Oatley - Matt O’Shea and Caitlin Jones
Sold under the hammer for $1,785,000, above reserve by $85,000
4 registered bidders, all active (buyers and sellers pictured above)
“This was a long-time family home, so it was very special for the vendors,” Mr O’Shea said.
“The purchasers are a young family looking to renovate slightly and move into their dream home. The auction today was incredibly strong and fast, with all four bidders bidding fiercely until the hammer fell down,” he said.
40 Mary Wade Place, Carnes Hill
Ray White Carnes Hill - Trevor Byrne and Shafeel Haq
Sold under the hammer for $1,660,000 - above reserve
8 registered bidders, 4 active bidders
“The seller (pictured above) was downsizing and he was thrilled with the result, which is a suburb record for a 450sqm block,” Mr Byrne said.
Mr Bryne said he did notice less crowd numbers, but the bidders who showed up were serious and ready to buy. “It is a bit trickier with it being the start of a long weekend today, but if bidders are serious about buying, they will find a way!” he said.
MELBOURNE
Ray White Victoria and Tasmania CEO Stephen Dullens said the ANZAC Day long weekend certainly hasn’t dampened the appetite for buyers in Melbourne, with 130 auctions scheduled across Victoria this weekend.
“Despite the disrupted April, buyers were not letting these distractions get in the way of their property purchase. Long weekends normally mean a break in real estate activity, and this isn’t something we’ve seen this weekend,” Mr Dullens said.
“Despite all the distractions in April and the upcoming federal election in May, this isn’t something that buyers and sellers have let get in their way - in fact we have 15 per cent more auctions scheduled this month than April 2021.”
Ray White Craigieburn - Trish Orrico and Shayla Spiteri
Sold for $875,000 - above reserve by more than $100,000
Four registered bidders, all active (buyers and sellers pictured above)
Auctioneer - Trish Orrico, Ray White
“The vendors actually bought and sold within five minutes today! They were on the phone with a colleague of mine at another auction in Craigieburn, happening at the same time as theirs,” Ms Orrico said.
The lucky winning bidders were a downsizing couple who recently sold their farm and are moving closer to town. “It was a thrilling auction with a great crowd which is amazing to see for a long weekend,” Ms Orrico said.
Ray White Cheltenham - Dylan Jansma and Alex Pearson
Sold under the hammer for $1,815,000 - above reserve by $435,000
Eight registered bidders, six active
Auctioneer - Alex Pearson, Ray White
Mr Jansma said it was an incredible emotional sale for the sellers (pictured above) with the home being in their family for more than 60 years.
“We had over 100 people in the crowd today, which really built the atmosphere and resulted in such an incredible result over reserve,” Mr Jansma said.
“There were two main factors at play for the interest; one being the sheer land size of this property, and also the two street frontages. The buyers have said It will sit as an investment property until they make their development move.”
Ray White Cheltenham - Kevin Chokshi and Elise Russell
Sold under the hammer for $1,970,000 - above reserve by $220,000
Four registered bidders, all active (buyers pictured above)
Unfortunately both the sellers had COVID-19 so were in isolation, but were thrilled with their result which they were watching on the live stream.
“Despite it being a long weekend, we are seeing great bidder numbers as well as attendees at open homes,” Mr Chokshi said.
“Good family homes are the flavour of the month and are doing extremely well, especially renovated properties. The potential interest rate rises don’t seem to be putting people off. If someone has a loan for the next 30 years, the interest rates are probably going to change 200 times so it is constantly fluctuating. People just want to buy the home that they love.”
BRISBANE
Ray White Queensland chief auctioneer Gavin Croft said there was a substantial amount of volume in Brisbane this long weekend; he called 12 auctions himself today.
“We are still seeing quite a lot of interstate buyers, but the local families are also out in force and bidding strongly,” Mr Croft said.
“We are starting to see buyers bid in a more composed manner, rather than the frenzy of a couple of months ago. There is no question that buyers are doing their very best but they are staying strong on their limits which is creating more of a balance.”
Ray White Wilston - Alistair Macmillan (pictured above) and Sam Hagen
Sold under the hammer for $1,625,000
Four registered bidders, three active
Auctioneer - Phil Parker, Ray White
The Ray White Wilston team sold another home to the sellers in Alderley six weeks ago, who were upsizing and therefore offloading their Grange home.
“The sellers wanted to stay in the area because it is such a great spot to be in Brisbane,” Mr Hagen said.
The buyers recently moved up interstate from Victoria for a lifestyle change and were thrilled to finally secure their dream home in the Sunshine State.
1-3/9 Silkwood St, Algester (pictured above)
Ray White Ascot - Nick Kouparitsas
Sold under the hammer for $1,294,000 - above reserve by $144,000
Eight registered bidders, four active
Auctioneer - Dwight Ferguson, Ray White
“The sellers were two brothers who bought the property in 2011 as an investment, and given that the market is performing so well, it was time for them to cash in,” Mr Kouparitsas said.
“Every bidders today was an investor, with both a mix of local and interstate investors,”
“The winning bidder will be holding it as an investment and will watch it improve over time. He actually turned up to view the property for the first time today!”
“The long weekend didn’t seem to affect our auction today - we drew quite a crowd and if anything, it just qualified the serious buyers,” he said.
ADELAIDE
Ray White South Australia chief auctioneer John Morris said auction volume had dropped in Adelaide this weekend.
“So far in April we have had an 81 per cent clearance rate with 7.2 registered bidders per auction and 95 per cent of all auctions have had bidding,” Mr Morris said.
“We are sitting at 41.5 per cent of the auction share in South Australia here at Ray White which we are always very proud of,”
“Bidder registrations are still strong, clearance rates are still strong and we are still seeing plenty of properties coming onto the market,” Mr Morris said.
Ray White Norwood - Stefan Siciliano and Tristian Kennedy
Sold under the hammer for $772,000 - above reserve by $72,000
20 registered bidders, with seven active
Auctioneer - John Morris, Ray White (pictured above)
The beautifully, newly constructed home attracted a huge crowd of onlookers to the auction, with bidding kicking off at $500,000.
“We had a huge amount of interest throughout this campaign and the auction was very exciting, with the final winning bid coming in right at the last minute,” Mr Siciliano said.
The sellers were an upsizing family who had grown out of the home, passing it over to the new owner occupier buyers.
“This weekend has been unusually busy for a long weekend, and the bidder numbers at this auction is testament to that,” he said.
10 Fulham Park Drive, Lockleys (pictured above)
Ray White Henley Beach - Anthony Fahey and Samuel Parsons
Sold under the hammer for $2,270,000 - above reserve by $270,000
Six registered bidders, four active
The architectural family home in the sought after suburb of Lockleys drew in a huge crowd of neighbours and onlookers, adding to the excitement with the hammer fell.
“The owners sold as they were moving interstate and a local Adelaide family were the winning bidders,” Mr Fahey said.
“This home sold only a few years ago for $1,390,000, so it is a huge achievement today. We had over 150 groups throughout the campaign; people were attracted to the beautiful design of the home.”
PERTH
Ray White Cottesloe | Mosman Park - Caro Cunningham and Deborah Brady
Sold under the hammer for $3,650,000
Four registered bidders, all active (buyers and sellers pictured above)
Auctioneer - Mark Whiteman, Ray White
This historically significant home was built by renowned Perth architect Van Mens in 1955, before being sold to the current owner in 1978.
“It was an incredibly emotional sale for our vendor, who raised her children here and has called it home for over 40 years and is now downsizing closer to family,” Ms Cunningham said.
The buyers were the neighbours, and bought the home so that they wouldn’t lose the beautiful peppermint tree in the backyard which attracts beautiful birds every morning.
“Even though it is R30 Zoning and could be subdivided, the new owner has said she will absolutely keep it the way it is, and will pass it on to her own family one day."
Each month, Ray White chief economist Nerida Conisbee produces a market analysis document that looks at what's happening across Australia's property market.
In the latest edition, Ms Conisbee explores some of the reasons why so many Ray White customers are selling in the current market, and details who the main winners are from a slowing market. It isn’t just first home buyers that like more stable conditions.
She also provides details on the markets she's watching closely, which include some that have been top performers (and should continue to be), and some that haven’t benefited at all from the boom time conditions we’ve seen over the past two years.
DOWNLOAD A PDF VERSION OF RAY WHITE NOW HERE.
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Media Contact
Nina Clarke
Ray White Group
nclarke@raywhite.com
0448 841 606
