Mid-winter auction rally continues

IT was another day of action packed scenes at auctions across Australia as the unprecedented mid-winter auction rally saw the Ray White Group clear eight in 10 auctions booked today.

Strong auction volumes saw 464 auctions booked today which resulted in some outstanding outcomes as the Ray White Group booked a preliminary auction day clearance rate of 82 per cent, with Sydney coming in at 85 per cent, Melbourne at 80 per cent, and Brisbane at 88 per cent.

But the bidder frenzy was not limited to the capitals as even this tiny little country church at 4 Upper Wheatvale Rd, Deuchar in Queensland, built in 1902, on the Warwick-Allora Road attracted a whopping 45 registered bidders, according to Ray White Rural Pittsworth sales agent Matt Cleary. That's highest number of registered bidders in the country today.

“The Deuchar Church is a well known landmark on the Warwick-Allora Road and we had 45 registered bidders, and 10 of them were active. It sold for $385,000 in front of a crowd of 150 people!”

In Sydney, Ray White New South Wales Chief Auctioneer Alex Pattaro said open for inspection attendance and auction crowds were slightly lower today due to the weather.

“Although genuinely interested buyers and registered bidders continued to remain at a strong level resulting in strong prices. Opening bids were slightly slower than usual. Buyers appeared to be more selective due to the increased number of properties on the market, Lots of buyers are keeping their cards very close to the chests.

“We continue to see buyers bid above feedback indications especially once they see competition on auction day.”

The top sale of the day across the Ray White Group was 3 Dick St, Henley which sold for $7.85 million.

There was more than 100 people watching the public auction of the six bedroom waterfront location and at least 20 yellow bidder paddles spotted in the crowd by onlookers.

Ray White Gladesville’s Robert Cassidy and Joseph Mazar marketed the property which sits on a highly sought after peninsula overlooking the Parramatta River.

In sought-after leafy Roseville, Ray White Upper North Shore agent Lisa Davies and her sales associate Claudua Gomez today sold 34 Clanville Rd for a whopping $4.2 million. Pictured here are the happy buyers.

“This is the highest price ever for land value in Roseville. This was an extraordinary opportunity as it’s one of the best streets in the area with a near level block,” Ms Davies said.

There were nine registered local bidders, six of whom were active, in pushing the price far over its reserve.

“The sellers are thrilled as another agency told them they’d get $2.5 million last year. The owners have lived there for 25 years and are now moving to the country for a tree-change.”

Elsewhere this trendy converted warehouse loft marketed by Ray White Surry Hills | Glebe | Alexandria | Erskineville director Matthew Carvalho at 12/156 Parramatta Rd Camperdown sold today for $950,000.

Seller Chris Walters, and his partner Francesca Macri and baby Alessio, are over the moon with the result achieved by Matt Carvalho who had six registered bidders signed up.

“I think we are in for our best winter market ever,” Mr Carvalho said.

“Stock is still a little on the tight side which is helpful for creating competition.”

Ms Macri said they always wanted to sell in winter when there was the least amount of stock on the market and therefore less competition.

“It just made sense to sell in winter. It’s a two bedroom open plan loft with no internal walls, and no parking and yet this young couple just bought it sight unseen. The property has a certain cool factor about it though.

“The new buyers drove past earlier and then looked it up online and came to the auction.

“They are first home buyers who had been looking in the eastern suburbs but came to the inner west as it’s much better value. ”

The owners moved to Chippendale three years ago and have been renting the property out on Airbnb ever since.

“We were fully booked but with the NSW laws changing later this year to limit the number of nights you can rent out to 180 nights a year unless you live there, it won't make it viable for us to keep.”

Meanwhile, Ray White Taylor & Partners sales duo Annie Hodgson and Walter Burfitt-Williams sold this entry level courtyard apartment at 3/2-10 Hardie St, Darlinghurst in impressive neo-classical building The Savoy this morning for $1.3 million.

In front of a crowd of about 30 people, auctioneer James Hayashi accepted bids from two of the three registered bidders.

“Our seller is delighted with the result given another apartment in the building which was fully renovated sold for $1.34 million recently. Ours was a terrific result,” Ms Hodgson said.

Elsewhere, Ray White Maroubra | South Coogee agents Eden Elmowy and Amy Vella today sold 130 Victoria St, Beaconsfield for $1.21 million at auction today in front of a crowd of 20.

Ms Vella said six registered bidders braved the rain but only half of them were active in the action.

“We saw a lot of people here today who have missed out on other auctions in Beaconsfield. Our buyers plan to do a renovation before moving in later,” she said.

In the Sunshine State, the Ray White New Farm and Bulimba team today sold almost $10 million worth of property, with six from six auctions selling under the hammer and one selling prior.

Principal and Chief Auctioneer Haesley Cush said that in his 25 years of real estate he’d never seen anything like this market.

“Unlike the last growth phase of 2007, this market is not erratic or hectic. This feels like a totally appropriate recalibration. Brisbane people know it’s a smart time to be investing in the river city.”

For Mr Cush the highlight of the day was the late afternoon sale in Tarragindi where Ray White New Farm agents Dimitri Manolis and Claudia Marchand sold 37 Isabella St, Tarragindi for $1.21 million.

“The property is perched on a hill in a sought after suburb backing on to Toohey Reserve. This is my childhood area - I am a Tarragindi kindy kid! It's like coming home. This home backs onto the reserve and it’s a beautiful quiet area.

“The auction opened at $700,000 and moved in a fast but managed pace to $1.070 million and from there the bidding intensified and sold for $1.210 million.”

Ray White New Farm agent and sales manager Nicholas Given sold 14/20 Newstead Terrace, Newstead for $1 million on the dot for four registered bidders.

Ray White Queensland CEO Jason Andrew said it has been an incredible day across the Queensdland network with 55 auctions scheduled today.

Ray White Aspley elite agent Dwight Colbert today sold this sprawling four bedroom entertainer at 26 Mann Ave, Northgate today for $1.070 million.

There were nine registered bidders, which pushed the price up, to sell $120,000 over its reserve.

“They were all local buyers and many with young families but in the end it was a retired couple who bought the place as they have six grandchildren. My sellers are upsizing and have bought at Nudgee Beach as they have three children and want some more room,” Mr Colbert said.

“There’s still a lot of desperation for good stock, and it feels like a shortage of listings which I know is helping with competition.”

Meanwhile in front of a huge crowd of 150 people, Ray White Annerley principal Geoff Sellars signed up a whopping 35 registered bidders at 106 Delavan Street which sold for $1.067 million, a staggering $217,000 over reserve in Wishart.

Mr Sellars said the four bedroom home has been extremely popular with local and interstate families after 130 groups inspected the property.

“This area is popular. It was a deceased estate and in the Mansfield State High School catchment and people just came out of the woodwork,” Mr Sellars said.

“I knew it would be busy as I had 10 pre-registered and another 25 people turned up today to bid which is not uncommon in this area.” The buyers were a young local couple.

A wave of sellers, particularly in Melbourne, are looking to get in before stamp duty changes with the potential to erode buyers’ budgets come into force on July 1.

Ray White Victoria and Tasmania Chief Auctioneer Matt Condon said that despite a low the normal volume of auctions this week it is clear that Victoria's real estate market was continuing to go from strength to strength.

“Preliminary data from the bright white group has revealed an increase in the average number of registered and active bidders at each auction on the ground, it was clear that the recent lockdown has created a lot of pent up demand with buyers bidding aggressively and doing everything possible to secure their desired property.” Mr Condon said.

“All eyes are now focused on next week with a significant increase in the volume of scheduled auctions across Victoria by searching for properties under $1 million are out in force, looking to secure a property prior to June 30 to take full advantage of the stamp duty concessions.”

Ray White Cheltenham director Kevin Chokshi today signed up six registered bidders and sold 2/4 Sandford St, Highett today for $743,000 after more than 100 buyer inspections over the course of the campaign.

“Overall interest has been really strong, despite the lockdown. There’s been a combination of young couples, downsizers and investors all coming through,” Mr Chokshi said.

“A lot of our auctions that were scheduled for this month had to be postponed to July because we couldn't get the photos taken and every vendor wants to be sure they have done everything possible to get the highest possible sale price.

“Even until last Saturday we still had the 25km rule and many buyers who wanted to come lived outside that radius so that’s changed and now helping give confidence to vendors that people are back in real estate mode again.

“We are seeing a lot of migration interstate and to regional Victoria.” Mr Chokshi’s seller is moving to Queensland.

Selling agent Nick Strilakos of Ray White Rowville had a cracking day and sold 11 Cooper Rd, Rowville for $1.032 million in front of a crowd of 70 people, and 266 Karoo Rd, Rowville sold for $942,000.

Ray White South Australia Chief Auctioneer John Morris (pictured) said that despite the rise in popularity of mid-week auctions in the state, “you'd be forgiven for thinking our weekends were going to slow down”.

“But there are no signs that any agents or auctioneers are going to get any weekend downtime for the foreseeable future,” Mr Morris said.

“Current preliminary data for this Saturday is 100 per cent sold with 9.3 registered bidders per auction with five of them actively participating.

“Every single auction has seen action today in Adelaide and its awash with a sea of yellow as we continue to dominate with a 31.25 per cent market share this week and next week that sea becomes a tsunami when it rises to almost 40 per cent share.

“This shows that auctions are here to stay as one of the preferred sales methods in SA, and especially for our right white South Australia members.”

Ray White Norwood agent Mannas Chan sold this renovated character home at 1/34 North Ave. Frewville for $751,000 for his sellers (pictured).

In front of a large crowd, Mr Chan said there were eight registered bidders all vying for the home on 274sqm which is close to one of the best schools in Adelaide, with Glenunga International High School, just around the corner.

“Four bidders were actively bidding and the seller is really happy with the price they secured.”

Meanwhile this 1940s art deco home just 300m from Henley Beach at 28 East Tce sold for $1.225 million in front of a crowd of 50 people. Ray White Henley Beach agent Jae Curtis signed up 10 registered bidders and six of them were active in this auction.

Ray White Norwood agents Brandon Pilgrim and Damien Fong today an cracker of a day when they signed up 18 registered bidders at 3 Nilpinna St, Burnside which sold for $1.374 million to a local family. “The reserve was $1.25 million and in the end two two bidders went head to head for about 20 minutes and it got down to $1000 bids in the end,” Mr Pilgrim said.

Elsewhere in the same suburb, 7 Norwich Avenue sold for $1.15 million after 14 registered bidders arrived looking to buy sold brick classic style home.

“In the end the winning bidding dropped a knockout blow with a $40,000 bid and it was all over, they won the keys,” Mr Pilgrim said.