Ray White Canberra breaks two suburb records during online auctions

RAY White Canberra has defied the doom and gloom predictions with a stellar weekend of online auctions that provided a combined auction campaign value of $4,367,500.

With eight properties scheduled to go under the hammer, four successfully sold at auction after two had already sold prior, and the campaigns generated 17 registered bidders. But that was not all, there were also new suburb records set in both Page and Holt.

“Ray White has always been at the forefront of innovation and this ‘new normal’ of virtual inspections and auctions is something we can really embrace and be industry leaders at,” said Ray White Canberra Executive Director Ben Faulks.

“The truth is, we’ve had online auction capabilities for a while now, and with the climate as it is we have the opportunity to bring the future into the present.

“We’re also in a position where we can conduct digital walkthroughs, private appointments, virtual property inspections and live online auctions for our vendors.

“And despite some people’s negative perceptions, we were still able to attract 17 registered across six auctions the weekend, and what that tells us is there are 11 bidders out there who are finance-ready to purchase right now.

“I’ve got to pay tribute to the whole team for their constant agility and ability to adapt in what is an ever-changing environment.

“Our customers are at the heart of everything we do and we’re proud we could still achieve such great results for them.”

The highest sale of the weekend went to Ray White Canberra Sales Consultants Troy Reddick and Vince Pinneri, who managed the $947,500 sale of 13 Luehmann Street (pictured above), in Page.

“The house was a complete knock-down and rebuild just eight years ago, so it offered the rare opportunity to buy an as-new property in an established suburb that is 50 years old. It’s fair to say this was a once in a ten-year opportunity,” Mr Reddick said.

“We continued with the auction campaign despite newly-imposed restrictions because we know it’s the best way to generate competition, and that showed with more than 120 groups inspecting the property while adhering to physical distancing measures.

“Auction is a method of sale that’s a great way to buy and sell property right now because it offers both parties the security of an unconditional exchange pretty much on the spot.

“We’re quite fortunate here that large parts of the demographic are Government employed and it’s clear from the campaign there are plenty of buyers around looking to purchase. The winning bidders were a local family from two suburbs over, who were upsizing.”

The three other sales saw 23 Wilson Street in Curtin sold for $831,000, 41 Cavill Close in Holt sold for $823,000, and 7 Alice Street in Amaroo sold for $735,000.