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In a typically cooler month for auctions, Australasia’s leading property group has recorded another substantial Saturday under the hammer.
Ray White recorded 444 auctions scheduled for the day nationally. The preliminary clearance rate of the day came in at 88 per cent. Sellers who took their property to auction today achieved on average 14 per cent more than the highest offers prior.
Buyers across the country were determined to purchase their dream home, and many made it their mission to bid, whether that was in person or not. The standout capital city of the day was Adelaide who recorded a 100 per cent clearance rate.
The talk of the day was the increased restrictions in Sydney, which seemingly had little effect on the preliminary clearance rate coming in at 88 per cent.
As further restrictions were announced on Friday for the local government areas of Woollahra, Waverley, City of Sydney and Randwick, vendors and agents had to consider the options in front of them; bring the auction forward to Friday, postpone, or move the auction to a COVID-safe environment or online.
Annie Hodgson and Walter Burfitt-Williams from Ray White Taylor and Partners (pictured below), together with the sellers of 201 Denison Street, Queens Park, opted to swiftly bring the auction forward to Friday evening in a COVID-safe environment outside the property on site.
The decision was a fruitful one, with the 2-bedroom parkside terrace home selling for $2,835,000, smashing the reserve price by more than $500,000.
Mr Burfitt-Williams said that their team hit the phones as soon as their announcement was made, to secure the auctioneer, confirm instructions with the sellers and notify buyers.
“The owner was happy to be guided by us and was absolutely shocked and delighted with the great outcome,” Mr Burfitt-Williams said.
“The new owners are a lovely couple who are cycling enthusiasts and wanted to be close to Centennial park.”
“They came in right at the end with their one and only bid to secure the property, and can’t wait to move in,” he said.
Ray White New South Wales Chief Auctioneer Alex Pattaro said that the priority across the city today was to ensure a safe environment for those auctions going ahead.
“All of our agents acted quickly and nimbly, and we actually haven’t had to postpone any auctions,” Mr Pattaro said.
“We have the tools in place to adapt quickly at Ray White, particularly after the experience of snap lockdowns in Victoria over the last year,” he said.
“We are still in the best market conditions we have ever seen, and auctioning continues to be the best method of sale for buyers and sellers in a transparent environment,”
“Despite seeing a lower attendance rate in Sydney today, the attendees that we are seeing are cashed up and ready to go,” he finished.
Away from the restricted areas, those in the Upper North Shore and outer western and southern suburbs enjoyed the ability to participate in auctions onsite, albeit with strict COVID-safe measures in place.
Ray White Pennant Hills Group Principal Dion Verzeletti sold 65 Unwin Road, Wahroonga (pictured below) for $2,900,000, smashing the reserve by a whopping $600,000. The campaign saw over 100 groups through the property and attracted 22 registered bidders on the day.
“This home had been in the same family for nearly 40 years, and the owner was ready to downsize and move onto her next chapter,” Mr Verzeletti said.
“This result has given her so many options for the future, so we are thrilled for her,” he said.
“The market is incredible and I think it will remain that way. We got through COVID last year, and we believe we can do it again. There is no need to panic, but simply to be safe and carry on with servicing our clients.”
The highest sale of the day was also in Wahroonga, where 23a Bareena Avenue sold for $4,920,000. Ray White Upper North Shore agent Graeme Schultz said that the campaign was extremely successful, with more than 70 groups through the property.
“The sellers have been in this area for many years, and are now ready to downsize,” Mr Schultz said.
“And the buyers are a local family from within the Wahroonga area and were keen on the tennis court,”
“We are seeing good strength in buyer numbers out there; the genuine, good quality buyers are really pushing up prices,” he said.
Another cracker sale for Sydney was in the southern suburbs at 1 Brighton Road, Peakhurst (pictured below) which sold for $1,542,000. The humble brick four-bedroom home drew in seven registered bidders, with the hammer finally knocking down for a young family.
Ray White Riverwood agent Phillip Ho said that good, solid family homes like this will always attract families.
“The market hasn't skipped a beat, and the buyers are still extremely active,” Mr Ho said.
A drizzly day in Brisbane couldn’t put a dampener on the atmosphere, with the standout sale of the day at the highly anticipated auction for 101 Philip Street, Hawthorne selling for $2,005,000, smashing the reserve price.
The uninhabitable heritage queenslander home on a 810 sqm block drew in 22 registered bidders.
Nearly 300 people flocked to the street to watch the spectacle unfold and enjoy a barista-made coffee from the coffee cart.
Bidding started at $1,400,000 and rapidly rose past the $2,000,000 mark, before finally selling under the hammer.
“It is one of those properties that my mum would point at every time we drove past and say that she wishes she had bought it back in the day,” Auctioneer Haesley Cush said.
Ray White Bulimba Principal Brandon Wortley said that the seller (pictured below), who was a beneficiary of the deceased estate, was visibly emotional at the amazing result.
“The buyers ended up being a local couple, who only viewed the property for the first time two days ago and knew that they needed to get their hands on it to renovate,” Mr Wortley said.
“Since COVID there is this huge demand in our area for houses on a big block.”
To cap off an incredible day of sales for Brandon Wortley, Daniel Lazzaroni and the Ray White Bulimba team, around the corner they also sold 98 Malcolm Street, Hawthorne (pictured below) for $2,265,000.
Records show that the seller bought the house less than one year ago for $1,890,000. The bidding kicked off at $1,800,000 and the eight registered bidders fought it out until the hammer dropped for a couple based in Melbourne.
“Lockdown ended yesterday so they flew up last night and viewed the property for the first time this morning,” Mr Wortley said.
“We did many facetime inspections for them over the past few weeks, and they were thrilled with the purchase of their new home,” he said.
“We are getting a lot of interstate interest; those migrating from across Australia as well as expats based overseas and wanting to move back to Brisbane.”
In a pleasing turn of events for Melbournites, auctions across Victoria got underway in a relatively normal fashion.
Ray White Victoria and Tasmania Chief Auctioneer Matt Condon said that there was a sense of urgency amongst bidders, leading to excellent results across the board for sellers.
“Despite the increase in auction volume, it is still very clear that demand continues to exceed supply,” Mr Condon said.
“We have had a higher than normal level of active bidders. Buyers are rushing to get in before June 30th to take advantage of the stamp duty concessions,” he said.
“We also have a high number of auctions next week until July 1st, with sellers wanting to capitalise on this.”
Ray White Mount Waverley Managing Director Courtney Matthews kicked off the day with a huge $2,001,000 sale of 18 Mulgrave Street in Glen Waverley. The vendors (pictured below) were absolutely thrilled, with the reserve being beaten by $130,000.
“This couple have been living here for 60 years, so it was a very emotional day with all the kids and grandkids there watching and celebrating,” Mr Matthews said.
“They are moving into aged care closer to family, and they were absolutely thrilled with the result - we beat the street record by $100,000!”
Mr Matthews said that a young family bought the house and they have plans to build a long term family home there.
“The market is really incredible at the moment. There are still not enough homes on the market to satisfy the demand from buyers.”
In the city’s north, 10 Slattery Way in Roxburgh Park sold under the hammer for $655,000, substantially above reserve.
Ray White Craigieburn agent and auctioneer Trish Orrico said that the gentleman who sold it was looking for a tree change and was moving further out to the country (pictured below).
“The buyers were a husband and wife duo who are absolutely over the moon to get into their new home,” Ms Orrico said.
“The market is still great - if you have a good home, there will be plenty of buyers. Particularly this week we are finding that people were scrambling to get in before the end of the financial year,” she said.
Ray White Cheltenham Principal Kevin Chokshi had another incredible day, with two homes selling under the hammer soaring past their reserve prices.
4a Alice Street in Cheltenham sold for $815,000, with five active bidders vying for the home which was being offered for the first time in 55 years (pictured below).
“The owner is moving on to a retirement home, and a young family were the winning bidders who have been looking to buy in this area for a while,” Mr Chokshi said.
Mr Chokshi then went on to sell 16B Wallace Crescent in Beaumaris for $1,151,000, smashing past the reserve of $925,000. The campaign attracted six registered bidders on the day, and had a very interesting backstory.
“The owner of this house passed away and had gifted his house to two of his friends whom he used to go skydiving with,” Mr Chokshi said.
“They honoured him by cleaning up the house, styling it and painting it, so they were very emotional at the result they achieved today.”
Mr Chokshi said that the market is really strong, with huge numbers at open homes today.
“Buyers are really keen now that we are out of lockdown, and I think the weather gods were on our side today, which helps!”
South Australia enjoyed another Saturday of outstanding results, with Ray White SA/NT Chief Auctioneer John Morris saying that he sold every auction under the hammer today.
“We have had an average of 14 registered bidders at my auctions today, and we are seeing a phenomenal increase in interstate buyers trying to get into the Adelaide market,” Mr Morris said.
“We are the third most livable city in the world, and I cannot see this slowing down anytime soon,” he said.
In a back-to-back success for Ray White Mawson Lakes agent Lukasz Jaworek, 11 Cameron Road in Elizabeth Vale sold for $320,000 with eight registered bidders showing up for the early morning auction.
“The seller bought this house only a year ago and sold it for $80,000 more than what he paid for it one year ago,” Mr Jaworek said.
“Elizabeth Vale is not traditionally an auction suburb, but we had a motivated seller and enough demand from buyers,” he said.
Mr Jaworek then went on to sell 40 Talbot Road in Croydon Park for $748,000, smashing the reserve price of $575,000. A huge 19 registered bidders turned up to battle it out with over 100 people in attendance.
“The market is truly fantastic in Adelaide. The medium price of this area is $545,000, so you can imagine how ecstatic the sellers are today,” Mr Jaworek said.
“It is very exciting when these sort of results so far above reserve happen for Adelaide.”
In another epic result for Adelaide, 20 Allen Avenue in Brooklyn Park sold for $845,000, soaring past the reserve of $750,000. A whopping 32 registered bidders turned up to try their chance at buying the original bungalow renovator.
Ray White Norwood agent George Kargiotis said that the campaign was incredibly successful.
“It was a very emotional day for the beneficiaries of this estate. It has been in the family for 50 years and they have had many golden moments here,” Mr Kargiotis said.
“They are thrilled that the buyers were another young family, ready to build their next chapter,” he said.
“I have also just finished an open with 65 groups wanting to come through. There are plenty of buyers who are willing to borrow a little more because of the leniency from the banks at the moment,”
“The overall sentiment is that interstate buyers are pushing up the prices as well,” Mr Kargiotis finished.
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Nina Clarke
Ray White Group
nclarke@raywhite.com
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