Low listings drive buyer demand

THE weather may be getting cooler but lockdown restrictions are continuing to thaw, leading to a rise in auction numbers for the second weekend of June.

Scheduled auctions for Ray White have doubled on last weekend’s number with 162 homes set to go under the hammer this Saturday.

But with stock numbers still down, this weekend Australasia’s largest real estate group expects to see more fierce competition among buyers battling it out for their dream home.

The Ray White Surry Hills | Alexandria | Glebe | Erskineville office is heading into the weekend with eight homes going under the hammer on-site.

Director Ercan Ersan said the converted warehouse apartment at C80/240 Wyndham St, Alexandria in The Hudson has had 100 groups through and 30 contracts given out.

“It’s the epitome of luxury inner city living designed by the celebrated architects at Allen Jack+Cottier,” Mr Ersan said.

“We’re expecting between 10 and 15 registered bidders and it should break the building record.”

Another standout from the inner city Sydney team is 4/11-33 Maddison St (pictured above) in Redfern with Mr Ersan saying the apartment has one of the best renovations he’s seen.

“We’ve already got five people coming to the auction and it should sell at $1.4 million,” he said.

In Bonnyrigg, Ray White Wetherill Park Sales Executive Mathew Bell is selling 4 Reeves Crescent through onsite auction.

Mr Bell said he’s had a good response with 43 families inspecting the property over three weeks.

“It’s a cracking little house, it’s being sold by the original owners and we’ve had a lot of first home buyers interested in the property,” Mr Bell said.

Embracing the online and onsite auction combination is Ray White Drummoyne Agent Angela Saidi who is taking 9/32-36 Tranmere St, Drummoyne to auction this Saturday.

Ms Saidi said the popular bay location has been a big draw for buyers.

“We still have a few days left and so far we have had 40 groups through inspections,” Ms Saidi said.

“We’re mainly seeing first home buyers but also a few investors.”

The two bedroom unit has a price guide of $825,000 to $850,000.

While some Victorian buyers will be braving the chill this weekend, bidders interested in 43 Ferguson St, Macleod will still have the chance to bid from the comfort of their lounge room through Anywhere Auctions.

Ray White Bundoora Sales Agent Cathy Liu said the knockdown house has been popular with buyers because of the realistic $630,000 to $690,000 price guide.

“About 80 per cent of interest on the house is coming from first home buyers. Because the house needs work many are looking to knock it down or do extensive renovations on it,” Ms Liu said.

“After 205 groups through the house with 12 of those being repeat inspections and all but a handful were genuine buyers, we are expecting the house to sell on Saturday.”

Ray White Glenroy are making their return to on-site auctions with the three bedroom home at 1/11 Thistle Court, Meadow Heights (pictured above).

Glenroy Salesperson Erhan Kalistu said the $345,000 to $379,000 price guide and potential for rental return has attracted both first home buyers and investors.

“With two more open houses scheduled for the week, we are expecting to get a total of 40 plus through the house come auction day,” Mr Kalistu said.

“This is an entry level home in a good area so much of the interest has been from first home buyers. Rental return is probably about $360 per week which has been a real draw card for investors.”

Ray White Ferntree Gully will be taking seven properties to auction this weekend with Managing Director Patrick McConnachie feeling confident about the result.

He said the auctions to watch are 8 Tarakan St, Boronia, 2 Gumbow Close, Bayswater North, 1/8 Derwent Drive, Bayswater, 5/97 Liverpool Rd, Kilsyth and 51 Dixon Court, Boronia.

On the southside of Queensland’s capital, Ray White Brisbane CBD Sales Consultant Karen Pierce is selling 10 Blackall Tce, East Brisbane through on-site auction this Saturday.

Ms Pierce said the three bedroom home has had strong interest since the beginning of the campaign.

“We have been thrilled with the response and have had a huge number of buyers inspect the property which is going back on the market after 70 years with the same family,” Ms Pierce said.

“It was built in 1911 so cannot be removed but the inner city location, renovation opportunities and land size have been attracting young buyers wanting to put their stamp on the 109 year old property.”

In Woodridge, the renovator's dream at 36 Nyanza St is set to go under the hammer this weekend through Ray White Logan City Director | Sales and Marketing Executive Tony Miller. Mr Miller said they've had 21 inspections and more than 30 enquiries on the property and is expecting a good result on Saturday.

"It's a bit of an ugly duckling but we have had lots of interest from builder buyers and second home buyers who are well placed to take on the renovations and build their dream home," Mr Miller said.

"Its potential and location in the north end of Woodridge have been a big draw card with the house, it's a strong suburb position near Compton Rd."

Mermaid Beach locals have been flocking to the four bedroom home at 111 Petrel Avenue which will be going to auction on Saturday by Ray White Mermaid Beach Sales and Marketing Consultant Daniel Donovan.

Mr Donovan said the beachside home has attracted more than 45 groups throughout the auction campaign.

“It’s been a good mix of owner occupiers, people looking for a weekender, a few investors and people looking to upsize,” Mr Donovan said.

“The space is the real draw card for buyers. There is a lot of space over two levels and with four bedrooms and four bathrooms there is potential for a big family to move in but still have enough room to spread out.

“It’s also a good home for mixed generation families as downstairs can be used as a self contained unit for income or grandparents.

“The house is also just around the corner from the beach.”

Mr Donovan said that while most have been local buyers wanting to move closer to the beach, he has had some interstate enquiry.

As auction restrictions ease further in South Australia, the Ray White Norwood team are making the switch from the studio to the streets this weekend.

One of the first to go under the hammer through onsite auction is 13A Harrow Avenue, Magill (pictured above) through Norwood Sales Executive Nick Borrelli.

Mr Borrelli said the auction should be a great return to onsite auctions for the Norwood office after showing the property to 30 groups over the length of the campaign.

“I’m excited to get back to onsite auctions and it should be a good one after the large amount of interest I have received,” Mr Borrelli said.

“It’s a nice family home in the eastern suburbs, it’s ready to move into and has been popular with families and first home buyers.”

Also going to onsite auction through Ray White Norwood is 22 Baroota Ave, Rostrevor being sold by Sales Executive Mannas Chan.

The four bedroom home borders the Morialta Conservation Park which Mr Chan said has been a huge drawcard for buyers.

“We’ve had a lot of interested parties after only two weeks of open houses. Most of the interest has come from families wanting to take advantage of the great location,” Mr Chan said.