Sellers take advantage of the market

AUSTRALIA’S housing market is now well entrenched in one of the strongest growth phases on record.

Buyer demand is still outpacing new stock additions. Demand is expected to remain strongest from first-time buyers and upgraders, many of whom are spending money on a house they might otherwise have used on overseas holidays.

In Australia, which recorded the fastest house price growth in 32 years in March alone, regulators are waiting to see the effect on incomes from the wind-up of record government wage subsidies, cash boosts and $10 billion in bank interest payment deferrals.

Ray White Managing Director Dan White reminds sellers that now is a great time to come to the market as the future remains uncertain for many reasons.

“The international border remains shut to everywhere now except New Zealand and the number of properties for sale will increase over 2021 which creates more choice for buyers,” Mr White said.

“What we do know is that market fundamentals right now are helping out clients who are looking to sell.

“Our data tells us that our sellers who choose to sell via the auction method are rewarded with an almost 12 per cent higher price under the hammer than if they’d accepted a prior offer.

“We cleared 82 per cent of all auction stock last month, with record numbers of registered bidders. There’s a deep buyer pool for sellers to take advantage of right now.”

Ray White is again on track for an outstanding month with 1213 auctions already conducted to date and another 703 auctions to come before the end of the month. So far throughout April, average registered bidders have stayed at a high of 5.9 nationally while average active bidders sat at 3.4.

Since the first of April to date in Sydney there have already been 310 scheduled auctions while a further 167 for the rest of the month. Over the past six months, Ray White offices in New South Wales’ capital have consistently maintained high auction metrics which for April currently sit at a 79 per cent clearance rate and 7.7 average registered bidders.Downsizers and family buyers will go head to head on Saturday for 5 Oak St, Normanhurst marketed by Ray White Cherrybrook | Thornleigh | West Pennant Hills director Dion Verzeletti.“We have had a mixed array of people trying to get into the area from outside suburbs. Buyers currently living in townhouses and units see it as an opportunity for more space while downsizers want something that is easy to live in,” Mr Verzeletti said.After 110 years in the same family, 51 Austral St, Malabar (pictured above) is set to have new owners after this Saturday’s auction. Ray White Kingsford selling agent Theo Felekos said he is expecting the auction to fly after overseeing 160 inspections.“The house is in a great location, right near the beach and is the perfect entry level home for a buyer who wants to get their foot in the door of the sought-after Malabar area,” Mr Felekos said.

In Melbourne, auction powerhouse office Ray White Ferntree Gully are expecting an auction hot streak this Saturday with three particular standouts set to sell above expectations.In the morning, Ray White Ferntree Gully agent John Arroyo is confident in both 25 Nathan St, Ferntree Gully (pictured above) and 22 Barrett St, Upper Ferntree Gully. Both properties have been popular with first home buyers while Nathan Street has also been attracting investors.Mr Arroyo said he is beginning to see the market level out in Ferntree Gully.“There are definitely more properties hitting the market at the moment and less buyers but sellers are still achieving great prices over reserve,” Mr Arroyo said.“Sellers are realising now is a good time to sell while buyers are becoming more savvy.”Fellow Ray White Ferntree Gully agent Matt Morris will be calling both auctions before he moves on to his own popular auction listing at 41 Diosma Drive, Glen Waverley which has a price guide of $1 million to $1.1 million.

The Ray White Cheltenham office is also known an auction leader in Melbourne. Sales manager Alex Pearson is continuing his recent auction success this weekend with 21 Rosella Rd, Parkdale.

“I am mostly getting interest from buyers with a growing family or younger couples looking for the next step but aren’t able to get into a bigger family home at the moment,” Mr Pearson said.

Meanwhile, Ray White Cheltenham’s Kevin Chokshi is expecting to put two more successful auction sales away this weekend at 36 Stuart Ave with a price guide of $1.3 million to $1.35 million and 4 Amy Court, Mentone with a price guide of $1.2 million to $1.3 million.

“Stuart Avenue backs onto a park which is what’s making families go crazy for it. Amy Court is also attracting a lot of interest. It was built by a well-known local architect back in the day,” Mr Chokshi said.

In Maidstone, Ray White Seddon agent Patrick Jamroz is selling a developer’s dream at 14 Pullar St.

“Interest is coming from developers but we are also seeing a few families who want to renovate or build new, so it’s a mixed bag,” Mr Jamroz said.“Open for inspections have been popular throughout the campaign and we’ve recorded a total of about 50 groups who have inspected the house.”Ray White Commercial Head of Agency Operations Andrew Freeman will conduct the auction which has a price guide of $800,000 to $850,000.

In Brisbane, Ray White Ascot agent Damon Warat said the auction campaign for his 28 Palm Avenue (pictured above) listing has been excellent.“There’s been huge enquiry and interest from buyers, we have had 70 plus groups inspect the house. Enquiries are coming from both local and interstate buyers,” Mr Warat said.On the south east of Brisbane, Ray White Wellington Point agent Stephen Sheppard is ready for his own success with 16 Osprey Drive. Mr Sheppard said he has had almost 50 buyer inspections with several further second inspections.

One Adelaide buyer is set to get lucky this weekend with the purchase of the beautifully renovated 20 Angus St, Goodwood (pictured above) property. Ray White Glenelg projects sales manager Jed Redden said the property has been popular with local and interstate buyers.“We’ve had 190 groups come through, they have mainly been families. There’s been a lot of interstate interest from Sydney and Melbourne buyers who want to move back to Adelaide and be closer to their families,” Mr Redden said.The on-site/online hybrid auction will be conducted by Ray White Glenelg agent Rod Smitheram and will be hosted on Gavl.Ray White Adelaide members will be busy this Saturday with a further 23 auctions scheduled for the day. The notable standouts will be:

• 19 Leader Avenue, Kilburn - Ray White Norwood agent Ryan Stapleton

• 12 Boston Avenue, Parafield Gardens - Ray White Norwood agent Ryan Stapleton

• 15 Barnes Crescent, Parafield Gardens - Ray White Norwood agent Ryan Stapleton

• 23 Wecoma St, Holden Hill - Ray White Norwood agent Nick Borrelli

• 1 Ventra St, Parafield Gardens - Ray White Norwood agent Nick Borrelli

• 2 Swan Ave, Rostrevor - Ray White Norwood agent Linda Clemente

• 17 Phillip St, West Croydon - Ray White Woodville principal Peter Kiritsis

• 18 Duntroon Cres, Taperoo - Ray White Port Adelaide principal Nick Psarros