November auctions kick off strongly

AUSTRALASIA'S leading real estate group has kicked off its November auctions with a bang as selling season keeps rolling on.

The outlook for November is now even stronger after the Reserve Bank of Australia cut the cash rate to an historic low of 0.1 per cent. This means in most of Australia’s capital cities, owning a home is the most affordable it’s been in decades.

This strong demand from buyers is particularly evident throughout October auctions where the Ray White Group recorded 5.3 average registered bidders per auction. The national clearance rate continued strongly with 65 per cent of scheduled auctions selling under the hammer. These numbers represent an increase on last year while the total number of auctions conducted throughout the month sat just below last year at 1125.

With this in mind and the low levels of stock currently on the market, we expect to see already fierce buyer competition heat up even further in the lead up to Christmas. This weekend, buyers will have 205 chances to secure their dream home through Ray White auctions.

In the country’s largest auction market, there are 81 properties scheduled to go under the hammer through Ray White.

The team at Ray White Surry Hills | Glebe | Alexandria | Erskineville has a massive Saturday in store as they take 12 inner city properties to auction.

Director Ercan Ersan is gearing up for an spectacular weekend, with his listings at 15 Black St (pictured above), 102 Macaulay Rd and 1/57-61 Alice Street set to fly.

All three properties have had more than 100 groups through inspections each. Both Black St and Macaulay Rd have a price guide of $1,600,000 while the guide for Alice St is set at $1 million.

Mr Ersan said he has had interest from buyers across Sydney, all looking for the chance to get their foot in the door of Sydney’s coveted inner city market.

“Black St is considered to be Marrickville’s best street and the three bedroom house has been beautifully renovated,” Mr Ersan said.

“Meanwhile, Macaulay Rd and Alice St are both in prime positions in the inner west.”

Ray White auctioneer James Keenan will be conducting the three auctions.

Also in the inner west, Ray White Drummoyne agents Angela Saidi and Fiona Hellams have had buyers flocking to inspections for 7/55 College St. Ms Saidi said the auction campaign has been strong from start to finish and should end with an outstanding result this weekend.

“We’re still getting some last minute inspections this week and so far we’ve shown 60 groups through,” Ms Saidi said.

“We’re seeing both investors and first home buyers coming through. I’ve seen more investors through this unit than I’ve seen in months, so that part of the market is clearly very active.”

The price guide is $740,000.

Meanwhile in south Sydney, Ray White Rockdale agent Nicholas Economos is quietly confident about the auction of 52 Bonar St, Arncliffe, which will be called by Ray White NSW Chief Auctioneer Alex Pattaro. The three bedroom home has attracted 60 inspections of the property, with buyers coming from a range of demographics.

“It’s been a mix of locals and buyers from the inner suburbs, they are mainly young families wanting to upsize from smaller homes and units,” Mr Economos said.

“The house also presents well and while most people want to renovate, we are getting a lot of feedback about how much they like the original, retro features.

“The position is good, in a family friendly suburb. Arncliffe is still doing relatively well, there is an under supply of houses in our area so buyers are jumping on anything that comes up.”

On the Upper North Shore of Sydney, 18 Pretoria Pde (pictured above) in Hornsby has attracted buyers who love character features. After almost 100 inspections, Ray White Hornsby senior agent Eddie Yiu is expecting a competitive auction on Saturday.

Mr Yiu said he has had interest from both families looking to upsize and investors.

“This house is so unique, apart from the convenient location in a quiet position, the land also has dual access which is a drawcard for buyers,” Mr Yiu said.

“They are coming from across Sydney - from the northern beaches, lower north shore and close to the city, wanting to upgrade from an apartment.

“Federation era, full brick homes that are nicely done up and maintained with the original character features have always been popular in the area.”

The four bedroom Hornsby home has a price guide of $1,600,000 to $1,700,000.

Eased restrictions in Melbourne mean more Ray White agents are embracing the hybrid on-site and online auction method this weekend as 64 properties go under the hammer with the leading group.

The owners of 21 Oak Ave, Cheltenham (pictured above) bought their family home in 2016 and after a major Block-style renovation they are now moving on to the beach. Selling agent, Kevin Chokshi of Ray White Cheltenham is auctioning the four bedroom home this weekend through an on-site and online hybrid.

“It’s been popular with young couples and young families because it’s part of what we call the Golden Triangle in Cheltenham, which is a premium pocket of the area,” Mr Chokshi said.

“The house is like new, which young buyers are loving because it means they can just move in without having to worry about doing anything to the house.

“The sellers have replaced almost everything, both inside and out so it’s a really beautiful, family home.”

The Cheltenham home has a price guide of $1,150,000 to $1,200,000.

Ray White Craigieburn agent Daniel Diamantopoulos will continue to keep his auctions online including 99 Charteris Drive. The Craigieburn agent said the decision comes off the back of strong buyer interest, which he expects to translate to multiple bidders on the day.

Online auction links available on request.

In Queensland, the sunny weather will be back and the buyers will be out in force, looking for their dream homes. Quite a few of those buyers are expected to attend the auction of 14 Cluden St, Holland Park West (pictured above) this weekend.

Marketed by Ray White Wynnum | Manly agent Ken Churchill, the architecturally designed 'Pole Home' has received interest from buyers who want something a bit different.

“I’ve had more than 30 groups through the home since the beginning of the campaign,” Mr Churchill said.

“Interest has come from both locals and buyers living further away. They’ve mainly been young professional couples.”

The auction will be conducted by Ray White’s Phil Parker.

Ray White Paddington’s Judi O’Dea and Michael Kleimeyer have had a successful spring selling season so far and November is expected to be no different. The pair are set to begin the month with a bang with the auction of 15 Primrose Tce, Red Hill at 9am (AEST).

The Adelaide auction market is continuing strongly this spring as Ray White agents across the city prepare for another great Saturday of premium results.

The standout auction is expected to be 10 Rodney St, Woodville (pictured above) which is going to auction through Ray White Port Adelaide Principal Nick Psarros. The Port Adelaide Principal has overseen more than 80 inspections and said the house has been popular with families and young couples.

“The house has a lot of character and charm which buyers love,” Mr Psarros said.

“They are also really loving that it has been decorated by the sellers with eco-friendly principles in mind.

“It has had a low toxic, top-to-toe renovation including VOC-free paint and naturally oiled Baltic pine floors.”

Another highlight of the day is set to be 14 St Ives Drive in Parafield Gardens. The auction will be conducted by Ray White SA Chief Auctioneer John Morris and sold through Ray White Norwood agent Ryan Stapleton.

Others to watch will be Ray White Tea Tree Gully agent Mohit Gupta’s evening auction at 38 Doradus Ave, St Agnes and the auction of 34 Aberfeldy Ave through Ray White Woodville Principal Peter Kiritsis.