Records continue to fall

MARCH was a record month for the Ray White Group with the leading agency recording $8.74 billion in transaction value.

Ray White Managing Director Dan White said they are extremely proud that Ray White served more than 19,000 families and businesses to find a new home or investment property across Australia and New Zealand during the month.“This result is up a staggering 92 per cent year on year and 30 per cent higher than our previous best month in November 2020,” Mr White said.“This was a result driven by more and more vendors seeking to take advantage of a strong market, coupled with the high speed and conviction in the decision making of buyers. The most powerful of combinations.”The personal best month comes off the back of enormous buyer demand and off the charts auction metrics. Over March, Ray White Australia scheduled 18.5 per cent more auctions than the same period last year with a total of 2,308 properties that face the auction block.Buyers were literally lining up down the street to inspect properties and on game day, competition became fierce as an average of six people registered for Ray White auctions nationally, up 2.5 on last year.The national auction day clearance rate also rose compared to last year with 75.4 per cent of auctions selling under the hammer over March.Ray White bought 10,760 new listings to the Australian and New Zealand real estate market in March, which was 16 per cent higher than in March 2020, and some 10 per cent more than in November 2020. Contrary to much market commentary, there is no shortage of new listings on the market. In fact, there is more new stock coming to market now than there has been for many years.In Sydney, the March auction clearance rate came in at a high of 84 per cent while 711 properties were scheduled for auction and 8.1 buyers registered to bid on average in the capital city.Ray White New South Wales Chief Auctioneer Alex Pattaro said the only hunt last weekend was buyers hunting for their next home as he saw mass attendance at Open For Inspections.“This is a great sign for the market and a clear demonstration of the confidence, strength and activity amongst buyers,” Mr Pattaro said.“It gives certainty for sellers who are coming to market in April and May that there is a large pool of ready to go buyers within the market.” Even after her passing at the age of 101, nurse Anne Elizabeth “Nan” Kearins was still able to make one final act of service to her community.The former St Vincent’s Private Hospital nurse of 70 years left the proceeds of her 77/11 Yarranabbe Rd, Darling Point (pictured above) home to the private hospital with the wish that it be used to support nursing.To honour her service and generosity, the St Vincent’s Private Hospital Sydney plans to establish a range of programs to train and nurture nurses now and for generations to come.Inspired by Ms Kearins’ contribution, selling agent and Ray White Taylor & Partners Director Walter Burfitt-Williams will also be donating his selling fee to the St Vincent’s Private Hospital. Mr Burfitt-Williams said he had been a supporter of the hospital for over a decade.“My extended family has had a close association with St Vincent’s for many decades, both as supporters and medical staff. Being able to further add to Nan’s generous bequest is the very least I can do,” Mr Burfitt-Williams said.“Completely untouched from new, this is a rare opportunity to refresh what may well be the last completely original apartment in the landmark Glenhurst Gardens.”The Darling Point unit will go to auction this weekend after buyers have flocked to Open For Inspections over the length of the campaign.

Ray White Roseville agent Jessica Cao made the decision to run the 45 Carlyle Rd, East Lindfield (pictured above) through the school holidays and over the Easter long weekend. Ms Cao said despite the holidays, it didn’t make a difference to buyer turnout.“We had buyers at all of the open homes we did. It shows really good engagement coming from buyers in the market at the moment,” Ms Cao said.“The house needs a little bit of work but it’s a well loved family home that has been with the owners for 32 years. They first bought it when their kids were young and now that everyone has moved out they have decided to downsize.”Ray White Earlwood director Dean Vasil and agent Kieran Gianoudis are taking the best on the market listing in the suburb to auction this weekend at 3 Dawson Ave. Mr Vasil said he’s had more than 60 groups inspect the property including a number of locals.“Everyone is coming to have a look because it’s in one of the best locations in Earlwood,” Mr Vasil said.“It has a lifestyle aspect because it’s 100m from what we call the “golden gates” of the Earlwood Oval - one of the best parks in the area. It’s also 200m from the Earlwood Shopping Village.“It’s also in a very tightly held street - the last sale was in May 2016.”

Later in the day, Mr Vasil will also be taking Aaron and Kia Stockdale’s apartment at 21/90-94 Riverview Rd, Earlwood (pictured above) to auction. The couple and their two children are set to move west to a larger home after what is expected to be a strong auction.Mr Vasil said he has started noticing buyers coming through who have been priced out of the house market and are now considering large apartments as alternatives.“Buyers are coming through with substantial budgets but they can’t afford to buy a house, so they are turning to apartments,” Mr Vasil said.“They are looking at larger apartments so they don’t have to sacrifice on space and entertaining areas.”

Ray White Upper North Shore agent David Beveridge has brought forward the auction of 82 Memorial Ave, St Ives to Saturday afternoon due to huge levels of interest. The home has been in the family for 50 years and has been popular with locals. The price guide is $2,250,000 to $2,475,000.In the evening, Ray White Castle Hill agents Sara Perry and Karl Anthony are confident in a sale that will cap off the day strongly with 78 Peel Rd, Baulkham Hills.

In Melbourne, Ray White Victoria | Tasmania Chief Auctioneer Matthew Condon said auction volume in Victoria was lower than normal last week given the Easter long weekend.

“We saw a slight decrease in crowd sizes at auctions however, active buyers were out in force to secure their desired property,” Mr Condon said.

“Based on preliminary data from the Ray White Group, we saw 4.4 registered bidders and over three active bidders per auction. This competition between buyers created exceptional prices for our clients that chose to auction their property across the long weekend.

“Sellers who decide to take their property all the way to auction day are also more often than not rewarded with a sale price higher than offers prior to auction."

The home at 14 Pembroke Cres is what Ray White Craigieburn selling agent Trish Orrico describes as a “great fixer upper”. The Craigieburn agent is confident come Saturday’s auction the house will have new owners who are ready to take on a renovation project to put their own stamp on the property.

“I expect a number of the 79 buyers who inspected the property to attend the auction,” Ms Orrico said.

“Interest has come from a mix of buyers - home owners looking to renovate and investors.”

Shortly afterwards, Ms Orrico will also be welcoming new owners to 28 Exmouth Rd, Craigieburn (pictured above) after a competitive auction. The house is being sold by a young family who are looking to upsize in the area after offloading their first ever home.

Ray White Bundoora director Andrew Mizzi is expected to have another of the standout auctions of the day with 4 Witney Way, Bundoora. The four bedroom home has a price guide of $700,000 to $770,000.

An ex-display home at 8 Rigby Mews with a price guide of $790,000 to $850,000 is also up for auction this weekend through Ray White Rowville sales manager Nick Strilakos. Mr Strilakos said Open For Inspection numbers and buyer quality has been strong throughout the campaign.

“The land size has been a big drawcard for buyers, while it also has a nice floorplan and beautiful natural light - all those things that if a house doesn’t have it then it just doesn’t have it,” Mr Strilakos said.

“Buyers have been a mixed bag with first home buyers, small families and investors all showing interest.”

In the Sunshine State, Ray White Queensland Chief Auctioneer Mitch Peereboom said last week wasn't without its challenges with the greater Brisbane locked down from Monday night through to Thursday midday.

"All our auctions during this period were moved online which paid off for all the sellers that stayed the course with their campaigns and took their properties to auction as they saw some outstanding results." Mr Peereboom said.

"We had 5.5 registered bidders on average and a clearance rate of 70.3 per cent under the hammer, just proving the market is not slowing down whatsoever.

"We've got buyers that are willing to compete, and that's resulting in some fabulous sale prices for our owners, which are exceeding expectations of our clients, but also setting new benchmarks for marketplaces across Queensland."

Getting into the local school catchment has been a big drawcard for buyers looking at 86 Zetland St, Upper Mount Gravatt. But, Ray White Springwood principal Lindsay Battley said that’s not the main reason why the three bedroom home has been so popular.

“The house represents a great opportunity for first home buyers trying to get into the bottom end of the market. I think they will make up more than 50 per cent of the buyers on the day,” Mr Battley said after 156 groups inspected the home.

First home buyers will have another chance at an entry level property on Saturday, this time at 16 Meecham St, Grange (pictured above). Ray White Wilston selling agents Alistair Macmillan and Sam Hagen have overseen 80 groups at Open For Inspections.

“The campaign has been relatively short with mainly first home buyer interest and a few buyers looking at doing a full scale renovation,” Mr Hagen said.

In the Redlands, east of Brisbane city, Ray White Victoria Point agent Vern Jensen is gearing up for the two strong back to back evening auctions on Saturday of 23a Currawong Drive and 23 Currawong Drive, Birkdale.

South of Brisbane, on the Gold Coast, 150 Government Rd, Labrador is being sold for the first time since 1979 after having one owner for 41 years. Ray White Nerang principal and selling agent Clint Hynes said it’s been popular with first home buyers and families looking for a renovation project.

In Adelaide, Ray White South Australia Chief Auctioneer John Morris said the network achieved some incredible numbers for March and finished on a high with two in-room events on the last day of the month.

“March saw the highest number of in-room events that we have had in this state with six scheduled for the month and 23 per cent of our auctions being held in-room,” Mr Morris said.

“Bidder registrations remain high at 8.8 per auction with 3.8 of those participating. Just shy of 11 per cent of auctions did not receive any bids and our clearance rates, although paling a little into comparison to the last few weeks, still remains strong at around 70 per cent.

“We are still seeing a massive difference between the highest offer prior to auction and the sale price - almost 14 per cent. An exhilarating finish to an astounding month.”

On one of Adelaide’s most sought after streets, Ray White Unley director Josh Gillespie will be finishing off an auction campaign that drew 250 groups to open homes. The beautifully renovated 24 Angus St, Goodwood (pictured above) has attracted attention from both young local families and interstate buyers who have been making the trip to Adelaide just to inspect the home.

Meanwhile, Ray White West Lakes agent Paul Denisoff has overseen more than 100 buyer inspections at 8 Monaco Cres, Grange and expects this interest to translate to a competitive auction on Saturday.

In Perth, where the auction numbers are on the rise, in line with the increase in buyer demand, Ray White Applecross agent Noel Rogers is selling a dream family home.The four bedroom 25 Langley Way, Booragoon home is perfectly located in the catchment areas of some of Western Australia’s most highly rated schools.“The types of people who are keen on this one are those that already have young children or who want to position themselves so that in a few years their children can be eligible to attend some of the best possible schools in the state,” Mr Rogers said.