Records fall in November

NOVEMBER has beaten October 2020 as the best ever month in Ray White’s 118 year history.

After recording a personal best in October of $5.71 billion, Australasia’s largest real estate group has done it again, posting $6.68 billion in sales in November. This record breaking number is 34 per cent higher than the same period last year, showing the property market is stronger than ever.

Ray White in New South Wales, Victoria | Tasmania, Queensland and South Australia | Northern Territory all posted state-based personal bests while Ray White Rural and Ray White New Zealand smashed their own records. Ray White Western Australia and Ray White Commercial came very close to a personal best and outdid earnings from November last year.

“We have never seen such synchronised levels of activity across Australia and New Zealand,” Ray White Managing Director Dan White said.

“The continued momentum shows the undeniable underlying strength in the Australian and New Zealand property markets which has been building over the past six months.”

Over the past few months, overall listing numbers have stayed similar to last year but down on those from 2018. However, as of last week new listings through Ray White are up 11 per cent on last year at 8860. The volume of sales also increased by 12 per cent as 7821 vendors successfully sold their properties over the past 28 days.

Sales records in October and November, increased sales volume and impressive Ray White buyer metrics - loan pre-approvals, online enquiries and auction bidding - all point to fierce buyer activity buoying up the market.

With only three and a half weeks until Christmas, buyers are still flooding the market and far from giving up on their 2020 home owning dreams. Auctions have been the best place to see this demand in action and since the beginning of the month, the Ray White Group has recorded a 70.2 per cent clearance rate, with 5.4 registered bidders attending 359 auctions. We may only be a week into December but already auction metrics have started strong.

This December, the Ray White Sydney auction market has been riding high and there will be another 106 properties this Saturday to add to the 94 already auctioned to date. So far, average registered bidders throughout December auctions sits at 6.5 while the Ray White Sydney clearance rate is 77 per cent.

Ray White Petersham director Nicholas Arena will have one of the standout auctions of the weekend with 2/26 Chester St. The one bedroom unit in the nine apartment Buena Vista block has drawn more than 60 first home buyers to inspections.

“It’s got all the original features including polished floorboards and high ceilings which have really appealed to buyers,” Mr Arena said.

“Not only this, but it’s in a great pocket of Petersham which has become a highly sought-after suburb in the inner-west.

“There are just not many places like this on the market so we’re expecting some good competition at the auction.”

Mr Arena said buyer feedback has been in the mid to late $500,000s and if his successful sale of a ground floor unit in the same complex about two months ago is anything to go by, he is sure there will be some happy buyers and sellers this Saturday.

The Ray White Upper North Shore office has been on an auction hot streak this year with no signs of stopping. This weekend, there are two afternoon auctions that are expected to be hotly contested, 3 Kimberley St, East Killara marketed by agent Jessica Cao and 62 Woonona Ave, Wahroonga being sold by office director David Walker. Kimberley Street has an auction guide of $1,700,000 and has been viewed by almost 140 groups in two weeks. Meanwhile, Woonona Avenue has been popular with families wanting to get into the sought-after Wahroonga area.

It’s been an unusual year for the Melbourne property market but Ray White offices have made a full recovery just in time for the silly season.

This Saturday, there will be 97 properties going to auction through Ray White while over the past nine days, 99 proceeded to auction. Since the beginning of the month, there have been 5.4 registered bidders for every Ray White Melbourne auction and an impressive clearance rate of 73.3 per cent.

Ray White Ferntree Gully agent Rene Mawad said his auction at 19a Myrtle Crescent will be the biggest auction for his office and the area this year.

“This is the best listing in Ferntree Gully and is getting a lot of interest from buyers moving out from the inner city now that they can work from home. They’ve fallen in love with the Dandenong Ranges and the area in general,” Mr Mawad said.

“The guide is $1,150,000 to $1,250,000 and for what they get out here at that price, it's far better value than anything else close to the city.”

The picture perfect house at 44 Kinsale St is about to go under the hammer this weekend in what selling agent Alastair Surtees of Ray White Reservoir believes will be an auction to watch.

Mr Surtees said families have eagerly attended inspections and he has had 26 groups look at the house.

“It’s got a great layout for families and there are a lot of people talking about extending the home so it has great potential for added space,” Mr Surtees said.

“The character features and brand new kitchen have also been a huge draw for buyers.”

The auction will be conducted on-site by Ray White Reservoir director Arthur Mitsinikos.

First home buyers will have a chance at their dream home this weekend minus the stamp duty as several under $1,000,000 properties go under the hammer through Ray White.

Ray White Seddon selling agent Patrick Jamroz has quoted between $750,000 to $800,000 for his listing at 36 Leander St, Footscray. The agent said he has received interest squarely from first home buying couples wanting something suitable for a future family.

Meanwhile, Ray White Seddon director Peter Gindy has an afternoon auction at 81 Paxton St, South Kingsville that reminds buyers of a medieval castle and has been a fan favourite with all families who have gone through. The four bedroom, Mackintosh style home has a price guide of $900,000 to $950,000.

Over in Melbourne’s south east, first home buyers are expected to flock to three auctions held by Ray White Cheltenham’s Kevin Chokshi. Mr Chokshi said the standout will be 5B Charles St however the results for 1/2 Parkside St, Beaumaris and 2/20 Patty St, Mentone are also expected to be strong.

“All three have been popular with first home buyers, especially with the price guides under $1,00,000 meaning they will be eligible for the stamp duty concession scheme,” Mr Chokshi said.

“The scheme has been a real hit and we are getting a lot of feedback from first home buyers who are entering the market to take advantage of it so it’s been a really big positive.”

Last weekend’s prestige auction event from Ray White New Farm may be a hard one to top but Ray White Brisbane agents are more than equal to the job this weekend.

With 175 groups already inspecting 43 Clifton St, Wilston, this weekend’s auction is going to be hotly contested. The three bedroom Queenslander is still in original condition after being built in the 1930s, but has been well maintained throughout its life. Ray White Wilston principal Alistair Macmillan said the home has never been on the market and believes this has added to the huge levels of enquiry.

“It’s in arguably the best street in Wilston and I would say that 90 per cent of interested buyers have been locals so clearly a lot of people have been watching this for many years and waiting for it to come on the market,” Mr Macmillan said.

“They are mostly families and some downsizers who have all said they want to do substantial renovations and breathe new life into the property.”

Ray White auctioneer Phil Parker will conduct the morning auction.

Meanwhile in Graceville, 5 Sandon St has received interest from locals, interstate buyers and even expats. Ray White Sherwood | Graceville selling agent Georgia Pevy said buyers have all been drawn to the location and layout.

“Interest has been split between families and downsizers. The families love the proximity to the local school which is one of the best in the area while the downsizers are attracted to the potential for single level living despite the property being two storeys.”

Ray White Queensland chief auctioneer Mitch Peereboom will conduct the 11am (AEST) auction.

Another auction to watch this weekend will be through Ray White Cleveland agent Vern Jensen who is confident in the under the hammer sale of 15 Lords St, Wellington Point on Saturday.

The Adelaide market has continued strongly throughout the year and in the lead up to Christmas has shown no signs of slowing down. Particularly for Ray White Henley Beach selling principal Anthony Fahey who is expecting three outstanding auctions this weekend.

Kicking off at 11am (ACDT) Mr Fahey will begin with the auction of 60 Ingerson St, West Beach while later on selling 28 Fawnbrake Crescent, West Beach and then 11 Samuel St, Fulham.

“Ingerson Street has been popular with families looking at upgrading to a better location but with Samuel St, it’s all about the land value. Many are looking at subdividing the block and building their dream home,” Mr Fahey said.

“Meanwhile, Fawnbrake Crescent has picturesque views and is almost like living in the country but only about 20 minutes from the CBD. We have been getting interest from younger families who want a bit more house and yard for good value.”

Not one to miss out on the auction action is Ray White Norwood agent Brandon Pilgrim who will also have his own success with 2 Pro Hart Court, Hope Valley on Saturday afternoon.

“It’s a decent block in a cul de sac, which has appealed to families in that area. The north east of Adelaide is still very affordable so it’s been really competitive there at the moment,” Mr Pilgrim said.