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Ray White’s national auction share once again hovers at 31 per cent with 604 auctions across Australia this week, led by Queensland which recorded its best week of volume in three months with 186 properties and its share of auctions jumped to 45 per cent compared to all other groups in the Sunshine State.
On Saturday alone, Ray White’s high performing members recorded a 56 per cent preliminary auction day clearance rate nationally with Melbourne recording a standout 68 per cent clearance but Adelaide once again topped the country with a 76 per cent city-wide clearance.
Overall this week the best clearance rate was the best it's been for more than seven weeks. Ray White auctions sellers this week received 10.4 per cent more under the hammer than any offer prior, which highlights the power of competition that auctions create.
The Ray White Group has now trademarked the phrase 'competition creators’ in Australia, New Zealand and also Indonesia.
The registered term was coined by the group’s chairman Brian White AO and is now interwoven into the everyday language at Ray White when referring to auctioneering and the process.
“The term came to me one night when I was grappling with just who we are? And what’s the best term to describe the value we can bring to the community? We are the vendor’s agent and our job is to get the very best price for our vendors,” Mr White said.
“And that's different to an agent who goes out and gets the very cheapest price. The greatest way to achieve a better price is when someone who wants a property realises there's someone else who wishes to have it and is prepared to pay a higher price than they had hoped that they could. We create that competition at auction.
“Nothing gives buyers more confidence in the value of the property than seeing other people bidding for it and bidding higher prices.
“It's amazing how many people actually bid more at an auction than they had initially thought to be the best price. Ray White conducts more auctions than anyone else in Australia by a huge margin.”
SYDNEY
Ray White New South Wales Chief Auctioneer Alex Pattaro said there was much more positive energy within the market.
“I suggest buyers better get in quick as we start to move into the spring selling season as there remains plenty of positivity for both sellers and buyers. We are starting to see more activity at auctions and open for inspections. Auctions must continue to be the preferred method of sale as it allows the opportunity to create a platform to showcase a competitive environment, ensuring sellers can obtain an exceptional result,” Mr Pattaro said.
Ray White Eastern Beaches director Nicholas Wise - 0410 121 533
4 registered bidders, 2 active
Sold under the hammer for $5 million
Auctioneer - James Hayashi, Ray White
This was the top auction sale of the day across Ray White. Ray White Eastern Beaches director Nicholas Wise said it was no surprise as Bronte was such a desirable location.
There were more than 30 people in the backyard along to watch the auction’s action.
“All the bidders were local families looking to upgrade in the area. The buyers were all upsizers and the seller is over the moon. She lives on the Gold Coast and bought the property for herself almost nine years ago for $2.275 million. It’s an investment property and she is very happy with the result,” Mr Wise said.
Ray White Upper North Shore Lead agent: Matt Bolin - 0417 269 023
Sold under the hammer for $2.483 million, $483,000 over reserve
10 registered bidders, 5 active
Ray White Upper North Shore partner Matt Bolin said the bidding opened at $1.6 million and quickly travelled to the $2 million reserve where three bidders battled it out. He said the result shows the power of creating competition at auction.
“The feedback going into the auction was $1.9 million so you can imagine the sellers are over the moon. This was his mum’s place and she had lived there for more than 50 years before moving into care. There were a lot of local buyers here today, many people wanting to move out of apartments and into a house. We had 10 bidders which shows the strength of the buyer pool.” The recently named number one business in the Ray White international group for 2022, Ray White Upper North Shore sold three from three under the hammer today.
171 Bobbin Head Rd, Turramurra
Ray White Upper North Shore lead agent Liana Power - 0403 691 747
Sold under the hammer for $2.9 million
4 registered bidders, 3 active
Ray White Upper North Shore agent Liana Power took 53 groups of buyers to view the charismatic period four bedroom home during its campaign.
“We issued 20 contracts during the four week campaign too. The bidding opened at $2.5 million and it went up to $2.6 million quickly. The buyer who won the keys actually lives nearby and they will rent it out as an investment before building their dream home on the block,” Ms Power said. Behind the classic façade lies a substantial single level, full brick home with plenty of possibilities.
83 Isabella St, North Parramatta
Ray White Castle Hill Lead agent: Matthew Langdon - 0431 037 478
Sold under the hammer for $1.7 million
13 registered bidders, 5 active
Auctioneer: James Kerley, Ray White
Ray White Castle Hill agent Matthew Langdon said the bidding opened high at $1.3 million and it sold for $1.7 million under the hammer.
The property has never been sold and was built by the owner’s family some 87 years old. The owner is moving closer to be with family.
“We had so much interest in this property as it could be moved into straight away, you could put a granny flat out the back in the huge yard or you could knock it down and redevelop,” Mr Langdon said.
“A lot of buyers are feeling like the market has levelled out, as you can see we had 13 registered bidders here today which shows a great sign of confidence returning to the market. Auction is the only method of sale to get this kind of result as it creates competition, we are the competition creators.”
Ray White Carnes Hill agents Shafeel Haq and Nicholas Tran
Sold under the hammer $1.580 million, $50,000 over reserve
8 registered bidders, 5 active
Auctioneer: Tim Snell, Ray White
Ray White Carnes Hill agent Shafeel Haq said good real estate was still selling well. “Vendors need to know there’s still plenty of buyers out there and they need to invest in marketing, styling and commit to auctioning. Auctioning is the best way to achieve great results, always has been but more than ever. We cannot sell a secret!” A local family won the keys in West Hoxton today and the sellers are overjoyed.
MELBOURNE
Ray White Victoria Chief Auctioneer Matt Condon (pictured above) said this week had seen an increase in auction volume for Ray White Victoria with more than 170 auctions scheduled across the state.
“Despite the patchy weather, crowds and bidders were out in force creating a great atmosphere at all street auctions,” Mr Condon said.
“On the ground, there was a noticeable change in pace today, with auctions experiencing greater levels of competitive bidding than normal.
“It was also great to see buyers bidding fiercely to secure their desired property long after properties were announced on the market and selling.
“When a seller's expectations around price meet the market during an auction campaign, these properties are consistently receiving more inspections, bidders and ultimately a better result on auction day.
“There continues to be a high level of demand for quality properties across Victoria.”
Ray White Oakleigh Agent: Nick Strilakos - 0403 510 712
Sold under the hammer for $980,000
5 registered bidders, all active
Auctioneer: Matthew Condon, Ray White
Ray White Oakleigh agents Nick Strilakos and Tess Maxwell took more than 80 buyer groups through this lowset brick family entertainer. “There were lots of local buyers, a mix of buyers and the eventual winning bidder was a family from Oakleigh West,” Ms Maxwell said. “The sellers are so happy - a young family looking to upgrade locally.”
25 Parkside Blvd, Lysterfield South
Ray White Oakleigh Agent: Nick Strilakos - 0403 510 712
Sold under the hammer for $2,062,500, called on the market at $1.95m
6 registered and active bidders
Auctioneer: Matthew Condon, Ray White
Ray White Oakleigh agents Nick Strilakos and Tess Maxwell said the buyers were all mainly established families at 25 Parkside Blvd. “The owners are downsizing and the buyers are a family who recently sold in Wheelers Hill. It was a huge auction with more than 100 people in the street watching the action,” Ms Maxwell said.
Ray White Forest Hill Lead agent/auctioneer: Aaron McDonald
Sold under the hammer for $1.290 million
4 registered bidders, 2 active bidders
ADELAIDE
Ray White South Australia Chief Auctioneer John Morris (below) said the sun was shining in Adelaide today and fortune was shining on those sellers who decided to go to auction.
“Last week we had a 71 per cent clearance on auction day within Adelaide and South Australia while CoreLogic were reporting a slightly lower clearance rate at 65 per cent. It proves yet again if you want a better chance of selling your property under the hammer on auction day in South Australia then at Ray White we had 7.4 registered bidders on average with 3.8 of those participating.
“So it’s still a great time to be selling in Adelaide via the auction method, which absolutely does create competition. Ray White knows this is the best method for your property for sale.”
Ray White Norwood lead agent Stefan Siciliano 0403 171 489
Sold under the hammer for $1,188,000
6 registered bidders, 5 active
Auctioneer - John Morris, Ray White
Mr Siciliano said the buyer has been looking for a long time and was very happy to secure the house for a lucky number. “He kept saying, ‘thank you so much’! I am happy for our buyers and our sellers who are also delighted today with the result,” he said. The agent took at least 50 groups through the house during its campaign.”
Ray White Walkerville principal / auctioneer Liam McDevitt and agent Rhonda Brown
Sold under the hammer for $631,000, reserve $620,000
13 registered bidders, 7 active bidders
Ray White Walkerville principal / auctioneer Liam McDevitt said the owners Jon and Talia sold their property under the hammer in front of a 63 person strong crowd.
“The whole family are moving to Queensland and trusted Rhonda and I with the sale of their home after over a year of working with them. After receiving multiple offers prior to auction, Jon and Talia were tempted to sell prior but followed the advice and took it all the way. That’s how we create competition.”
BRISBANE
Ray White Queensland Chief Auctioneer Gavin Croft said he personally recorded an average of four registered bidders per auction today. “There’s particular depth in the market for four bedroom family homes that are likely double storey or high set in a particular location.There’s some really nice depth in that particular market.”
Ray White Ascot - Dwight Ferguson
Sold under the hammer for $1,900,000
4 registered bidders, 4 active
Auctioneer - Dave Treloar, Ray White
Ray White Ascot agent Dwight Ferguson today sold 20 Rees Ave, Clayfield for $1.9 million under the hammer. The four bedroom home was hotly contested with all four registered bidders raising their paddles with a large crowd watching on as Dave Treloar worked his magic on the gavel.
“The buyers were all local except for the people who came up from Newcastle for the action. A local Ascot family won the keys. They were looking for something with easy maintenance, and the sellers are over the moon,” Mr Ferguson said.
Sold under the hammer for $1.255 million
Ray White Wilston Lead agent: Holly Bowden - 0431 922 110
8 registered bidders, 6 active
Auctioneer: David Treloar, Ray White
Ray White Wilston agent Holly Bowden said this renovator attracted a lot of attention during its campaign. “It's a classic character home that hasn't had too much done to it but it’s located in one of the best streets in this inner city suburb. It's a safe place to park your money,” she said.
Ms Bowdon also had a bidder from Newcastle - but this time over the phone - plus another from Sydney.
“We had eight registered bidders, including two first home buyers and the couple who bought it have been living overseas for the last three years and they have been renting in the street and they love it. Their family will be very happy there,” she said.
Ms Bowden invited the whole street to come and watch the auction and at least 60 people turned out for the 9am kick off.
