Low supply drives buyer competition

The leading group saw an average of 4.7 registered bidders and 3.1 active bidders per auction.

The top sale of the day went to Ray White Lower North Shore agents John McManus and Brooke Listberger who sold 19 Stafford Road, Artarmon under the hammer for $4.37 million. The property recorded eight registered bidders and three active bidders.

The auction with the highest number of registered bidders went to Ray White Prospect agent Adam Humzy who recorded 24 registered bidders at his 25 Florence Avenue, Blair Athol, auction. The property sold under the hammer for $1.565 million.

Another notable sale was that of former Wallabies star and future LA Chargers tight end Jordan Petaia's Brisbane home at 34 Brisbane Corso, Fairfield, which sold under the hammer for $1.355 million. Ray White Holland Park's Brad McMahon and Piers Crawford marketed the home on behalf of Mr Petaia.

According to NurtureCloud, Ray White conducted 6,439 open homes across the nation today, with 23,850 attendees. The open home with the most attendees was at 169 Tenth Avenue, Inglewood. The property, which was listed by Ray White Inner North’s Matt Seabrook and Emily Warden, saw 55 attendees through today’s open home.

SYDNEY

Ray White NSW head of auctions Dave McMahon said he was hopeful the anticipated rate cut would bring more confidence to the Sydney market.

“The final Saturday of the financial year brought another day of consistent buyer activity with 4.5 average registered bidders and 2.8 of those being active,” Mr McMahon said.

“Similar to last Saturday, we saw a higher number of properties not proceeding to auction whether being sold prior, postponed or cancelled.

“With the upcoming RBA meeting, and another rate cut being discussed, we anticipate this will bring further buyer confidence which should be well matched with more stock predicted to come to market leading into spring.”

10 Roper Place, East Killara

• Sold under the hammer $3.75 million

• Six registered and five active bidders

• Lead agent: Jessica Cao - 0466 877 260

• Ray White Upper North Shore

“The sellers were downsizing. It was their family home but now all their kids have grown up and moved out, so the home was too big for them,” Ms Cao said.

“This was our second auction for this house. We had an auction six weeks ago which passed in at $3.475 million.

“We spoke to our vendors and adjusted the reserve, and we had a very successful auction here today. The sellers were very happy with the result.

“The market in Sydney is also showing signs of improvement.”

The winning bid went to a young family upsizing from an apartment.

The sellers, David and Tracy, were glad to have the property sold.

“It feels wonderful to have sold under the hammer today. The market is a bit flaky at the moment but we had to have trust in the value of the property,” Tracy said.

“Jess is a master of auctions and she knows how to work well with the buyers and sellers, and we achieved a great result.”

19 Scahill Street, Campsie

• Sold under the hammer for $2.291 million

• 14 registered bidders, six active

• Lead agent: Manuel Roussakis - 0412 973 793

• Ray White Canterbury

• Auctioneer: Tim Snell, Ray White NSW CEO

Bidding opened at $1.7 million

“We had a mix of buyers including investors, builders, and owner occupiers,” Mr Roussakis said.

“It was quite a large land size and it had duplex potential which attracted a lot of people.

“The buyer was a builder-investor who will either renovate or knockdown and build.

“The home had been in the sellers’ family for 50 years, it had been the family home.”

8 Treuer Parade, Yagoona

• $1.590 million

• Seven registered bidders, four active

• Lead agent: Patrick Sioud - 0405 21 21 81

• Ray White Bankstown

• Auctioneer: Tony Roumanous, Ray White

“The winning bid went to an investor who lives locally and will rent the property out,” Mr Sioud said.

“We had a mix of bidders, with both owner occupiers and investors. The under bidder was a first home buyer.

“The sellers had retired and moved about an hour down the coast so decided to sell.”

MELBOURNE

Ray White Victoria chief auctioneer Jeremy Tyrrell said active bidding at auctions was on the rise.

“As we move deep into winter, auction volume is settling into a consistent level with 201 auctions scheduled across the state this week for the Ray White group, accounting for one in every five auctions in the Victorian market,” Mr Tyrrell said.

“Buyers continued to brave the cold as competition heats up with the active bidder numbers increasing by 20.2 per cent year-on-year, at an average of 3.0 bidders per auction.

“A hotly contested auction at 22 Morris Rd, Croydon, saw 11 bidders actively competing for the two bedroom single level villa near central Croydon.

“It was a first home buyers and investors paradise, with the winning bid at $768,000 going to a lovely young couple, Susannah and Spencer, buying their first home after five months of searching.

“The couple, currently renting in Mitcham, are moving a few suburbs out and are absolutely over the moon.

“Strong results were reported across the state this week with the overall clearance rate sitting at a month high 83 per cent.”

32 Ventura Way, Greenvale

• Sold under the hammer for $850,000

• Five bidders

• Lead agent/auctioneer: Malek Younan - 0411 504 016

• Ray White Gladstone Park

“Bidding opened at $700,000 and it came down to two bidders fighting it out at the end,” Mr Younan said.

“The winning bid went to a lovely couple of first home buyers.”

The sellers, Ryan and Michelle, were a young family with two children who were upsizing.

“We had lived in the home for nine years, so it was time to upsize,” Ryan said.

“It was a small cosy home good to start a family.

“It was our first home so we were very happy to see it go to another couple of first home buyers.

“We would highly recommend the auction process, we were very happy with the result.

“Malek did a fantastic job, he was 10/10.”

It was the first auction for buyers Olga and Guiseppe (pictured above), who landed the winning bid on their first try.

“We hadn’t been looking for too long, we recently received our permanent residency and we started looking soon after,” Olga said.

“We are shocked and very excited, we can already see ourselves living in the home.

“It was our first auction and our last auction. We saw so many people at the auction and everyone was bidding, so we thought we might be in trouble, but it worked out very well for us and we’re very excited.”

4 Gaynor Crescent, Gladstone Park

• Sold under the hammer for $856,000

• Six bidders

• Lead agent/auctioneer: Phillip Mercieca - 0402 419 827

• Ray White Gladstone Park

Mr Mercieca said the bidding started at $650,000.

“The buyers are from Sydney with plans to rent the property out in the short term and move down in the near future,” Mr Mercieca said.

“In this area at the moment we’ve got too many buyers bidding and not enough stock.

“It’s a really tightly held suburb, there’s only 4-5 homes on the market at once, so we’re seeing an average of 5-6 buyers at all our auctions in the area.”

The seller (pictured above with her three daughters) was the original owner of the home.

“She built the home in 1972, so she’d owned it for more than 50 years,” Mr Mercieca said.

“She had raised her three daughters there, and now it was time to downsize.

“It was quite an emotional day, but she and her daughters are very happy with the result.”

11 Moor Park Drive, Craigieburn

• Sold under the hammer $627,000

• Four bidders

• Lead agent/auctioneer: Trish Orrico - 0423 336 636

• Ray White Craigieburn

“The winning bidder was a first home buyer. We had one investor and three home buyers bidding,” Ms Orrico said.

“The seller bought the home brand new. She moved to the countryside and rented it for a year but now decided to sell.”

The seller, Kate, had lived in the home for 13 years.

“I’m so happy with the result, it really was a shock! I went in thinking ‘if it sells, it sells, if it doesn't, it doesn't’.

“Then when the bidding began it was like ‘bam, bam, bam’ and people kept firing bids and the price kept going up and up.

‘It was really exciting.

“The auction campaign was a really good process and Trish was awesome, so clear and professional.

“I have been with Ray White for years, and knew I’d go with them again when I decided to sell.”

6 Sunbeam Street, Glenroy

• Sold under the hammer for $640,000

• Five bidders

• Lead agent: Abdullah El Hosari - 0424 805 545

• Ray White Glenroy

• Auctioneer: Matt Condon, Ray White

“The winning bid went to a first home buyer. All of our bidders were first home buyers,” Mr El Hosari said.

“The market in our area has been really strong. Limited supply of stock means everything is achieving premium prices at the moment.”

The sellers, Matt and Shani, were a young family who were selling their first home in order to upsize. They said it was nice to see the property go to another first home buyer.

“We had been in the home for 8.5 years. We loved it there, it was a lovely street with nice neighbours, it was a nice place to start,” Matt said.

“We couldn't be happier with the result and Abdullah did a great job, we can’t sing his praises enough.”

Unit1/187 Jells Road, Wheelers Hill

• Sold under the hammer for $813,000

• Four bidders

• Lead agent: Cristine Jones - 0417 501 000

• Ray White Ferntree Gully

• Auctioneer: Robert Cincotta, Ray White

“We had a lot of young families interested, but the buyers were an older couple whose daughter was helping them bid. It turned out I had also sold a home to the daughter previously,” Ms Jones said.

The seller, Warren, had owned the property since 2020, and also sold his previous home with Cristine.

“I enjoyed the access to all the facilities. It was opposite the shopping centre and the library. Everything is within walking distance,” Warren said.

“It feels excellent to achieve this result today, we’re very, very happy.

“We’re very pleased with how much effort Cristine has put into it, she’s sold for us before and she always does a great job.”

24 Sandgate Ave Glen Waverley

• Sold under the hammer for $1.2455

• Five bidders

• Lead agent: Nuria Jewell - 0450 000 898

• Ray White Judd White Group

• Auctioneer: Dexter Prack, Ray White

The property received a lot of interest with more than 100 groups through the open homes.

The sellers’ were the homes’ original owners who are now downsizing.

The winning bid went to an investor entering the suburb.

BRISBANE

Ray White Queensland chief auctioneer Gavin Croft said many properties scheduled for auction in Brisbane today had been sold prior.

“It’s always interesting when stock levels are low, buyers will try and do whatever they can to snap property up before auction,” he said.

“That’s certainly something we’ve seen today, sold prior rates in Brisbane are certainly up.

“For example, personally I had six auctions scheduled for today, and five sold prior.

“However, auctions that did go ahead today, such as 34 Brisbane Corso in Fairfield, saw an average of about five registered bidders for quality stock.”

34 Brisbane Corso, Fairfield

• Sold under the hammer for $1.355 million

• Five registered bidders, two active

• Lead agent: Bradley McMahon - 0408 909 675

• Ray White Holland Park

• Auctioneer: Gavin Croft, Ray White

The first home of former Wallabies star Jordan Petaia sold under the hammer following his recent signing with NFL franchise the LA Chargers.

Mr McMahon said Jordan was really happy with the result.

“The buyers were a young family with hopes to knock down and rebuild in the future,” he said.

“Most of our interest was from buyers seeing the potential for future development of this post-war home on the Corso.”

The buyers, Hanieh and Farbod, said they had participated in many auctions before.

“We are builders so we are always looking for opportunities. This will be a longer term hold for us,” Hanieh said.

“We were attracted to the position of this home, on the Corso.”

8 Arctic Street, Upper Mt Gravatt

• Sold under hammer for $1.703 million

• 12 registered bidders, six active

• Lead agent/auctioneer: James Austin - 0425 890 657

• Ray White Mt Gravatt

“We had lots of owner occupier interest, and the winning bid went to an owner occupier,” Mr Austin said.

“The seller had been there for 18 years and lived in the home across the road prior to that. He bought the home with his wife and three daughters in order to upsize.

“He’s now ready to downsize and has bought a unit off-the-plan in West End.

“People were attracted to the size, with six-bedrooms and three bathrooms. But the main drawcard was the amazing views. It’s in a really high position in Mt Gravatt.”

ADELAIDE

Ray White South Australia chief auctioneer John Morris said it had been a good financial year for auctions in South Australia.

“Today was the final Saturday of auctions for the financial year 25 and it is looking to end as spectacularly as it began in South Australia,” Mr Morris said.

“We've been pretty consistent over these past 12 months. We've hovered around about that 70 per cent auction day clearance rate for the whole of the year. 


“We've had around about 5.5 registered bidders with 2.9 of those participating. That has been consistent throughout the year.

“One other thing that we have made our own, basically, is the auction market share in South Australia. We finished the year with a 40.4 per cent auction market share. 


“Our nearest main competitor sits at 7.85 - 7.85 per cent of the auction market share in South Australia while we are at 40.4 per cent.

“It's absolutely incredible. It is a sea of yellow flags every single weekend out throughout the state. 


“All of our buyers are very localised. So 94-95 per cent of all buyers are local, 4 per cent interstate and about 1 per cent overseas.

“So it's a lot of local buyers realising the great state we live in and not wanting to leave. 
And there's 5.5 of them per auction.

“It truly is an astounding market and an astounding end to an astounding year. The buyers are out in force, the sellers are all very, very happy, as are the agents and the auctioneers.”