Red hot auction results across the group

THE RED HOT auction market continued its bull run this weekend across Australia and New Zealand with big surges in prices, crowds and registered bidders recorded across the Ray White Group.

The leading auction group had booked a massive 694 auctions across Australasia this week, 358 of which were set to take place today, with preliminary data showing a 70 per cent clearance rate.

Early data shows 11,261 people attended a Ray White auction this week, 10 per cent higher than last week, with the average registered bidders today holding at 3.6 and the number of active bidders steady at 2.5.

Early data puts the group’s Sydney clearance at a staggering 94 per cent today, with 25 per cent of today’s auction stock selling prior in the NSW capital. Melbourne's preliminary clearance is sitting at 73 per cent, and Adelaide has cleared 60 per cent by late Saturday.

Ray White auctioneers are reporting increasing buyer confidence with prices moving in a positive trajectory which bodes well for 2020.

If you were up bright and early in Sydney on Saturday, you may have seen this four bedroom terrace at 159 Cathedral St, Woolloomooloo sell for $1.61 million.

Ray White Surry Hills Sales Agent James Natoli said there were five registered bidders looking to secure this opportunity so close to the city, harbour foreshore and buzzing cafe precinct.

In the end, three bidders duelled it out for this renovated terrace, with auctioneer James Keenan wielding the hammer.

“It opened up at $1.3 million and ended up selling for $1.61 million to an investors from the eastern suburbs,” Mr Natoli said.

From there, Mr Keenan went to 14 Temple St, Stanmore where the Directors of Ray White Surry Hills, Ercan Ersan and Shaun Stoker stopped traffic in the street with their massive crowd of more than 100 watching on to see 14 registered bidders fight it out.

The fast and furious auction kicked off at $1.588 million and eventually sold to a lady from Glebe for $1.780 million who was downsizing from her larger home. The price paid was $80,000 over the reserve.

“It was the perfect property to sell as it attracted every type of buying group - upsizers, downsizers, investors. It was on a single level so older people liked it and it’s got parking, plus it’s north facing and near the green. It had it all," Mr Ersan said.

“We had 177 people inspect the property and we sent out 30 contracts and our guide was always $1.5 million.

“Our lovely vendors (pictured here with Ercan Ersan) are now going to upgrade into a bigger home.”

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Ray White NSW Chief Auctioneer Alex Pattaro said the competition at auctions today had been "electrifying with buyers ferociously bidding at auction to secure their home before the end of the year”.

“We believe buyers are bidding strong this side of Christmas as nobody is aware of what the property prices may do in 2020,” Mr Pattaro said.

“As we come to the close of the Spring rush and we have not been disappointed.

“We have seen an increased confidence in the market with prices moving in a positive trajectory which indicates that we’ll see a great end to 2019, and a great start to 2020.

Mr Pattaro called “a belter" today in Putney for Ray White Gladesville. “I love Putney, it’s got such a lot going for it."

Ray White Gladesville Sales Agent Joseph Mazar marketed 2 Ida St, Putney with a price guide of $1.7 million and the nine registered bidders today pushed the price up to $1.930 million in front of 50 people in the crowd.

“It’s a great high spot, and it’s high but a local family bought it and are going to build their dream home there,” he said.

The house last sold for $1.75 million four years ago and has been a rental property ever since.

Meanwhile, Ray White Epping Sales Agent Kevin Wong ran a textbook auction campaign in Eastwood which attracted some 14 registered bidders to his sale of 9/7-9 May St which sold under the hammer for $668,000.

The former accountant with a big four firm who traded in his calculator for working with people said there was a “lot of pent up demand from buyers given stock was still tight”.

“Most of the buyers today were local but the eventual new owner is someone I have been working with for some time who lives out of area and had been looking in Strathfield,” said Mr Wong , pictured here with the new buyer.

“This unit is at the rear of the block with access at the back and it’s close to the train station. It’s a great outcome for a two bedroom unit,” he said.

“People think prices are going to rush higher next year, so there is some urgency now but I do worry about the stability of the broader economy if it’s sustainable.”

Over the Spit Bridge to Manly Vale where Ray White Freshwater Sales Agent Jacquelynn Watson sold 11/35-37 Quirk Rd for $1.155 million in front of 90 people and with nine registered bidders.

This spacious two-bedroom apartment is set far back from the street and enjoys absolute peace and tranquillity while offering privacy and a bright leafy aspect.

It was an emotional scene in Cabramatta West when more than 100 people turned out to see 19 Edensor Rd sell for $843,000 to a next door neighbour.

Ray White Cabramatta agents Duong Dang and Steven Milovanovic had nine registered bidders, and six active in the auction.

“It was a very emotional sale as the owner has lived there for more than 50 years, so she had about 10 family members with her and now she is moving to Bowral to be closer to family. We had an offer of $830,000 a few nights ago but we went to auction and go our vendor an extra $13,000 today and I am so pleased for her.”

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In Melbourne, Ray White Victoria and Tasmania Chief Auctioneer Matt Condon said it was another strong week for auctions, in terms of volume and cleared.

“Auction crowds were out in force and based on data from the Ray White Group we’ve seen a very strong week with a jump in the number of active bidders. Buyer confidence is strong in this market. Overall it’s been a great week and we are expecting a strong auction campaign clearance rate.”

In Melbourne, Ray White Coburg Director and Auctioneer Nazih Abbouchi sold 46A Roland Ave, Strathmore for $1.335 million in front of 50 people.

It was a perfect pair of bidders who duelled it out after the bidding kicked off at $1.2 million and moved in $10,000 rises to $1.32 million,” Mr Abbouchi said. “All the neighbours came out to see the auction,” he said.

The new buyers have been renting nearby and will move into their first home soon.

“Confidence is high for good quality homes, it’s as simple as that. Buyers appreciate quality and they also know that building costs are rising. So my advice to sellers, is presentation is everything.”

Meanwhile, Ray White Rowville Sales Agent Dean Allsop and Principal Adam Sorrell today sold 8 Turnberry Court (pictured above with auctioneer Matt Condon) for $1.112 million.

“The vendors are over the moon as they were hoping for $860,000 or even $880,000 but sold it for $1.112 million with five bidders participating in the auction,” Mr Sorrell said.

“The vendors are now going to move to Torquay, so they are very happy. The buyers all loved it as it backs onto an old golf course which will be developed into a housing estate in time but it’s got great views and was very well presented,” Mr Sorrell said, who held 130 inspections and sent out 30 contracts to potential buyers during the campaign.

There’s nowhere else you’d rather be but in Brisbane on a beautiful day on the eve of Summer with auction fever in the air.

Ray White Ascot’s dynamic duo Damon Warat and experienced auctioneer Phil Parker captivated the 80-strong audience at 100 Oriel Road, Clayfield where four registered bidders went into battle for this grant estate set on more than 2000sqm of prime blue chip land with beautifully manicured gardens and Helidon sandstone.

“The action kicked off at 9am with a bid of $3 million and quickly rose to $3.95 million where it stalled and then went on the market and sold for $4.1 million,” said the new dad Damon Warat. fatherhood clearly suits him as he cleared three from three this week for his own personal 100 per cent auction clearance rate.

“The buyers are a local family planning to renovate the house.”

He also sold 54 Pring St, Hendra prior to auction for $1.7 million, and this cute as a button two bedroom workers cottage at 23 Allen St, Hamilton for $650,000.

“I feel like momentum is picking up and definitely some hype in the last fortnight. Buyers are no longer waiting and there’s signs of people jumping in or risking FOMO (fear of missing out),” Mr Warat said.

Late this afternoon, Ray White Ascot Principal Dwight Ferguson and Auctioneer Phil Parker sold Ray White Group Joint Chairman Paul White’s Clayfield house under the hammer for $3.425 million with four registered bidders.

Mr White’s beloved Clayfield 1930s style home called ​Arlington at 129 Adelaide St East​ was named after a western Darling Downs sheep station where he once worked as a young jackeroo.

Mr White and his partner Lynne Porcsin have owned the four bedroom classic single story home on one of Brisbane’s best streets for more than five and a half years.

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Ray White Queensland Chief Auctioneer Mitch Peereboom said there were some standout auctions across the south-east corner today.

“Segments of the market that are still performing very well are stock, under under $1 million, within 5km of the CBD and there are still some great buys for those looking to capitalise on Brisbane’s affordability,” he said.

“If people are still looking to transact this side of Christmas, there’s still time for those looking to take advantage of these excellent market conditions."

One great example of this price bracket was when Ray White Paddington Sales Agent Angela Mastrapostolos sold 10 Stewart St under the hammer for $920,000. There was a tonne of interest in 10 Stewart Street which represented an incredible opportunity to secure a prime piece of untouched real estate in Paddington, just a stone's throw from Rosalie.

The deceased estate at 42 Sunnydale St, Mount Gravatt was sold by Ray White Mt Gravatt Sales Agent Grant Boman for $622,000 with 12 registered bidders battling it out in front of a crowd of 60 people. The charming post war house had never been offered for sale before.

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In Adelaide, Ray White South Australia Chief Auctioneer John Morris said the market was “pumping in South Australia” this weekend.

“We have 27 auctions this week which will give us a market share of around 25 per cent. I’ve just come from an auction which had 18 registered bidders and very strong bidding which ended up with a result way above the owner’s expectations which demonstrated the power of the auction method of sale.”

Ray White Norwood Sales Agent Mannas Chan today sold 2 Egerton Ave, Rostrevor today for $848,000 in front of a crowd of 50 people in the front yard.

His vendors (pictured above) are over the moon as it was almost $100,000 higher than the best offer during the campaign.

There were a staggering 18 registered bidders, all mostly locals, which means it’s the highest amount of registered bidders anywhere in the Ray White Group today too. Some 40 groups inspected the house during the campaign which attracted 12 offers prior.

“Given there’s 1300sqm of land with a 24m frontage, in a nice suburb with good schools the new buyer is planning to subdivide the block,” Mr Chan said.