Market still at a historic high

DESPITE the coming winter months, Australia’s property market is still operating at an all time high.

In April, Ray White helped almost 15,000 people with their property ambitions and conducted 23,000 property appraisals. Ray White final trading figures came in at $6.88 billion for April 2021 across Australia and New Zealand combined, Australia alone produced $4.9 billion in sales. Only a year ago Ray White wrote $2.54 billion in sales in April.

Once again all markets lifted strongly with no areas of weakness or subdued activity. New South Wales / Australian Capital Territory was the strongest market in the group last month with $1.88 billion in unconditional sales and, up a whopping 160 per cent year on year - which reflects the depths of the pandemic in 2020. Ray White’s April results were very strong compared to prior years, and in fact the second best month on record, despite it being a short month that included the Easter and Anzac Day breaks.

On the flipside, metrics for home loan pre-approvals, open home attendees, and active auction bidders have all eased from the incredible highs of February and March. And when looking at the ratio of the number of new listings to the number of sales per month, Ray White dropped from 92 per cent to 80 per cent. There was also a 30 per cent fall in open home attendance in April from March, to 101,000 people. However, these metrics are still at historical highs and with the expected slowing of the market over winter the results still show a market with continued momentum.

“It’s fascinating to compare our sales results from the last month with our results of 12 months ago,” Ray White Managing Group Director Dan White said.

“The contrast in market conditions will never be more stark, yet we are also reminded that what is important to our customers remains unchanged.“We promised our customers a year ago that we would do everything we could for them to create competition to deliver the best results possible despite the obstacles we faced.“There are now very few obstacles, yet the importance of doing everything possible to get the absolute best result for our customers remains.“With so many buyers and with prices well up, it's not hard to achieve ‘a result’: but is it the absolute best result available in the market today?“The best result can only be assured when a full marketing and negotiation process is exhausted.”Throughout April, Ray White achieved on average 12.53 per cent more for their vendors at auction than the highest offer prior. Further proof that the auction method is the best way to fully test the market and achieve the highest possible result.

This Saturday will be another big day for Ray White as the group takes 415 properties to the auction block while Sydney’s share of Ray White auctions currently sits at 129.After 110 inspections from mainly first home buyers, Ray White Earlwood director Dean Vasil is confident 5 Gornall Ave, Earlwood will fly at auction on Saturday.“The house has attracted a lot of buyers who are struggling to get a foot in the market,” Mr Vasil said.“The location is great and the house has a lot of potential so they are hoping to be able to add value over time.”

Ray White NSW chief auctioneer Alex Pattaro will call the Saturday auction.

Buyers looking to escape the rat race and buy into the sought-after northern beaches will be lining up this weekend for the auction of 8 Jennifer Ave, Allambie Heights. The three bedroom property with a price guide of $2.3 million has not only attracted families but also investors.“Buyers have been predominantly families with small children moving from the local area. They are usually always the majority of our buyers but we’re seeing more investors start to look as well,” Ray White Narrabeen | Narraweena selling agent Ken Snell said.“The house has been in the same family for 55 years and is really well looked after. We’re getting people who want to move in as is and others who are buying for the block size with plans to knock down and rebuild.”Back on the other side of the river, Ray White Georges River | St George | Oatley principal Matt O’Shea has had almost 120 buyers inspect 44 McRaes Ave, Penshurst (pictured above) in the lead up to the auction. Mr O’Shea said interest has come squarely from families looking to get into the area and has given out a $1.6 million to $1.7 million price guide.Early in the morning in Caringbah South, Ray White Sutherland Shire director Matt Debreczeni is gearing up for his own auction success in the sought-after suburb with 334 Burraneer Bay Road.

Going down south to Melbourne, the Ray White Group has 155 scheduled auctions this Saturday and you’ll be hard pressed to single out just one standout.In the morning, Ray White Brunswick will be at it again with a number of hot auctions again scheduled for the inner city agency. Agent Abdul Allouche will be welcoming new owners to 19A Foden St, Brunswick West (pictured above) on Saturday after 70 inspections of the cute, cottage-like townhouse with a price guide of $950,000 to $1,045,000.Fellow Ray White Brunswick agent Matthew Schroeder and 2/57 Yarra Ave, Reservoir vendors Deepthi and Suraj Varma are also looking forward to some solid bidding at auction on the weekend. The Varmas are hoping to see a first home buyer snap up their home so they can move to something bigger for their growing family. The price guide is 600,000 to 650,000 and Ray White Brunswick director Jamil Allouche will conduct both auctions.And only a little way down the street, Ray White Mernda director John Metaxas will be putting up another yellow sold sticker after the auction of 1/72 Yarra Ave, Reservoir.“With a reasonable price guide of $480,000 to $520,000, we are expecting quite a few first home buyers to throw their hats in the ring on Saturday,” Mr Metaxas said.“It’s hard to find somewhere in that price point in Reservoir so we’re confident we’ll have a lot of competition from young people trying to get into the market.”

The vendors of 1/14 Lois St, Ringwood East (pictured above) are looking forward to making a seachange to the Mornington Peninsula after their auction this Saturday. With a price guide of $850,000 to $930,000 and in a highly sought after pocket of the suburb, Ray White Ringwood director Chris Watson is confident he’ll be bringing down the hammer on a great result.“We’ve had about 50 inspections, mainly from first home buyers who love the cute character features and high standard renovations as well as young families who want to get into the Ringwood Secondary zone,” Mr Watson said.The Ray White Ferntree Gully office can’t be forgotten this weekend as they take 16 properties to auction on Saturday alone. Agent Matt Morris said the huge weekend is a result of an increase in listings in the area and sellers waiting until after the busy April holidays to offload their properties.Mr Morris has one of the standouts of the day with 4 Easton Court, Ferntree Gully. Over 70 buyers have inspected the six bedroom house including upsizers looking for their long term dream home.“The house is in one of the nicest pockets of Ferntree Gully and has everything buyers are looking for at the moment - good, distinct living areas, an outdoor entertaining area and a kitchen they can put their own stamp on,” Mr Morris said.There will still be plenty of action around the rest of Melbourne with other highlights being 26 Sycamore Ave, Mentone and 1A Acacia Ave, Mentone selling through Ray White Cheltenham’s Kevin Chokshi. Along with 1A Hurter St, Blackburn South being marketed by Peter Schenck of Ray White Blackburn and Ray White Gladstone Park director Phillip Mercieca’s listing at 11 Clarke Drive.

The hot Brisbane market will continue this week as Ray White takes 40 properties to auction on Saturday.

Early in the morning is the auction of 125 Alexandra Rd, Clayfield. Selling agent Nicholas Given of Ray White New Farm said the property has attracted interest from a mixed range of buyers.“Not only have we had families looking at the house, there have also been a few developers showing interest,” Mr Given said.“They see it as a good project with the potential to subdivide the land. It’s hard to find a flat block like this and it also comes with a lovely bonus north east aspect off the rear which is popular.”Ray White Eight Miles Plains agent Anton Silaen has been blown away by the interest he’s received for 172 Highgate St, Coopers Plains which goes to auction this Saturday morning. Meanwhile, Ray White Alderley agent Janine McDonald is sure she has a battle on her hands at what is sure to be a hotly contested auction for 215 Hyde Rd, Yeronga (pictured above).On the Sunshine Coast, the canal-side 2/20 Akeringa Place, Mooloolaba is set to be popular at auction this weekend and will sell through Ray White Mooloolaba agent Peter King.

In Adelaide, the auction scene is again going to be dominated by Ray White with 26 properties expected to sell under the yellow hammer.Ray White Norwood agent Stefan Siciliano has a standout at 3 Princes Rd, Greenacre while fellow agent Jann Wilksch will also have one to watch at 15 Edgeworth Street, Prospect.Meanwhile, Ray White Norwood agent Ryan Stapleton continues his bid to sell every single house in Parafield Gardens and the surrounding suburbs this weekend with two hot auctions at 76 Northcote Drive, Para Hills West, 15 Salas Road, Parafield Gardens.In Perth, where auctions are becoming more frequent, Ray White Applecross agent Noel Rogers is leading the way. This Saturday, Mr Rogers will take 19 Longford Rd, Beaconsfield (pictured above) to auction and is expecting a great result for his vendors under the hammer.