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STRONG selling conditions continue across Australia, with the Ray White group clearing 78 per cent of its auction stock today under the hammer.
At the end of first quarter of 2022, results continue to be ahead of 2021, even compared to those buoyant conditions.
Next week is shaping up to be the largest week for auctions this year with 855 for Ray White, ahead of the Easter long weekend.
“It’s been an incredible week for auctions selling under the hammer. The best for 2022 and the best since mid-November 2021. Victoria is sitting at 84.2 per cent for the week which is amazing and the best since last October,” said Nathan Kennedy, head of Ray White’s auction data.
“Some 87.6 per cent of our buyers this week were local, 9.5 per cent interstate and 1.7 per cent were from overseas.
“We recorded five registered bidders on average with 3.1 active bidders which is solid as a rock.”
Ray White New South Wales Chief Auctioneer Alex Pattaro said buyers were still out in force all looking to secure property before the Easter long weekend.
“In Sydney four registered bidders appear to be the new normal and clearance rates are hovering between 65 per cent and 75 per cent which is a clear demonstration that properties are still selling under the hammer for great prices,” he said.
“This should give sellers confidence that property prices are remaining steady. Those sellers must be warned that we are in a transitional market now but buyers are still ready to make decisions and pay the best price for your home now.”
12 Bronte Marine Drive, Bronte
Sold under the hammer for $17.7 million
Ray White Double Bay Director Ashley Bierman
4 registered bidders, 2 active bidders
This showstopper trophy home was sold by F45 gym founder Rob Deutsch and bought by a local family for $17.7 million. Mr Bierman said the top sale of the day boasted one of the eastern seaboard's most coveted beachfront addresses.
“The flight to quality homes remains strong, driven primarily by a lack of supply. Prices are holding up and even if there is some stabilisation this year we are coming off a very high base as last year was a record by all accounts with a record jump in prices,” Mr Bierman said.
“This landmark residence recently underwent a dramatic contemporary reinvention and has uninterrupted grandstand views of Bronte Beach and the Pacific Ocean. No detail has been overlooked in the pursuit of luxury and comfort,” Mr Bierman said.
Spanning three expansive levels with a 14m frontage, the home with dual street access features full home automation with touch-of-a-button ease. Mr Bierman sold the home with co-agents Brad Pillinger of Pillinger and Alexander Phillips of PPD.
Ray White Taylor and Partners Walter Burfitt-Williams - 0402 833 566
Sold for $2.39 million - $190,000 over reserve
Three registered and three active bidders
Auctioneer: Tim Snell, Ray White
Ray White Taylor and Partners agent Walter Burfitt-Williams said this beautifully renovated three bedroom terrace had been sought after by many young professionals.
“We had 85 groups through during the campaign. There were three registered and active bidders at the auction today, and a couple from Bondi won the keys (pictured above). Our sellers are over the moon with the result,” he said. The auction opened at $1.8 million and there were 20 bids in total in front of a crowd of 50 people.
Ray White Rockdale Nicholas Economos - 0409 553 555
Sold for $1 million under the hammer
11 registered bidders, 4 active
Auctioneer: Alex Pattaro, Ray White NSW chief auctioneer
Mr Economos said it was a good contest among all the local bidders. “We had lots of interest from builders and renovators. A local man bought it and he will renovate it. The seller is very happy but of course it was emotional as it was a deceased estate. This shows you we still had 11 bidders prepared to bid and we know to follow the auction process.”
Ray White South Australia Chief Auctioneer John Morris (pictured) said if the first quarter of 2022 was anything to go by then “we are in for one hell of a ride in South Australia”.
Ray White has conducted 464 auctions so far since January, up by 84.1 per cent on last year.
“We have an average of 8.6 registered bidders per auction with 3.7 of those participating. We have had bidding at over 96 per cent of all our auctions this year and a total clearance rate 84.7 per cent. Last week we had bidding at every single auction. Last week Ray White reported an auction day clearance of just shy of 80 per cent, and CoreLogic is reporting almost 74 per cent,” he said.
“Next week we have 309 auctions for the state and Ray White is still the clear front-runner holding a 32.5 per cent auction market share.
“Ray White on the whole in South Australia is still flying very, very high with great numbers and clearance rates coming through.”
Ray White Adelaide CBD Chris Xu - 0433 770 616
Sold for $2.520 million, reserve was $1.850 million
13 registered bidders, 3 active bidders
Auctioneer: John Morris, Ray White SA chief auctioneer
Mr Xu said this perfectly positioned 1940s house was in highly sought after St Peters on a generous 836 sqm of land which backs onto a reserve. “It’s an amazing result and I am so happy for my seller, an investor. It was a good auction campaign: 13 registered bidders and three active. The auction started at $1.5 million and went all the way up to $2.52 million. The buyer is also an investor who liked the fact it’s a big house, on a big block in a good part of St Peters.” There was a large crowd of 70 people onsite, enjoying the sun and free coffee on offer too.
Ray White Henley Beach Anthony Fahey - 0428 641 404
Sold for $1.41 million, $310,000 over reserve
10 registered bidders
Mr Fahey said there were 10 registered bidders and a massive crowd out in force today. ‘The bidding started at $900,000 and it carried all the way up to $1.41 million,” he said.
Ray White Norwood Stefan Siciliano - 0403 171 489
Sold for $856,000, reserve was $800,000
14 registered bidders, four active bidders
Auctioneer: John Morris, Ray White SA chief auctioneer
Mr Siciliano said his vendors are moving into a retirement home, and the buyers are an elderly couple from the country. “With 14 registered bidders, the market is very active and we sold above reserve.”
Meanwhile, the auction action in Brisbane kicked off early at The Calile Hotel in downtown New Farm when some 43 bidders registered to buy nine properties for sale on the day by Ray White New Farm | East Brisbane and Bulimba teams.
The properties on offer ranged from luxury an inner city unit with views of the Story Bridge which sold for $1.775 million to a unique tri level home at 50 Markwell Street on Hamilton Hill which sold for $2.610 million.
The inner city specialists cleared 70 per cent of the 13 properties on the scheduled order of sale, including four which had sold just prior, which pushed the event tally to almost $12 million.
Ray White New Farm principal and chief auctioneer Haesley Cush (pictured above) said there were lots of registered bidders out today.
“It feels very similar to last year, January fired off the oxygen of last year and the market pushed through well until March. Buyers are always looking to turn a market in their favour but the evidence still shows it's a good time to sell,” Mr Cush said.
“We have already secured more than 20 properties to sell at our next event on April 26, and we have solid interest from buyers and sellers building into our next event in May, which may turn out to be on the federal election day!”
The best auction of today was 2 Howard St Coorparoo which sold for $1.620 million.
“There was so much interest - a good home, in a good suburb on a good block of land where you can be at the beach in under an hour,” Mr Cush said.
“We had a number of interstate bidders watching and bidding online.”
Ray White Wilston Holly Bowden - 0431 922 110
Sold for $3.325 million, reserve was $2.4 million
8 registered bidders, five active
Auctioneer Phil Parker, Ray White
Ms Bowden said it was a cracking, fast paced auction.
“We had a buyer fly in from Singapore who grew up on the street over and they were just pipped at the post as the underbidder. It was expats against a local family and the locals won,” she said.
“The sellers were a family who had been there for 60 years and everyone was delighted with the outcome. The auction opened at $2 million and flew up quickly and there was no pausing at all. Good real estate is still well no questions about it.”
Sold for $890,000 under the hammer
Ray White Kawana Water Director James Goldsworthy
6 registered bidders, 3 active bidders
Auctioneer Taylor Siep, Ray White
Ray White James Goldsworthy said it was very important as it was his parent’s investment property. “It was sold to a young couple as their first home, they work at a local hospital. Our business sold three from three today, all above reserve, we are not seeing any re-balancing.”
Elsewhere, for the third week in a row there were in excess of 200 auctions scheduled across Victoria for the Ray White Group, showing once again strong demand from both buyers and sellers. Ray White Victoria and Tasmania CEO Stephen Dullens said the impressive results continued to be achieved right across the board.
“We’ve seen yet another strong week on the auction front, with large crowds of buyers in attendance despite the overcast Saturday in Melbourne,” Mr Dullens said.
“Preliminary results show a clearance rate of 81 per cent with over three average bidders in each auction.”
More broadly, with the conclusion of the first quarter of 2022, results continue to be ahead of 2021, even compared to those buoyant conditions.
“Broadly, we continue to see an increased level of property activity compared to prior years. During March, Ray White transacted in excess of $1.1 billion of property across Victoria,” Mr Dullens explained. “This was our best March on record and around five per cent higher than last year, but most interestingly, more than double the pre-pandemic levels of 2019. This shows once again the market remains strong compared to historical norms,” Mr Dullens said.
Ray White Cheltenham Kevin Chokshi - 0430 195 517
Sold for $1.070 million
3 registered bidders
Auctioneer Alex Pearson, Ray White Cheltenham
Mr Chokshi said the winning buyers only saw the property for the first time on Thursday night. “The buyers are a young first home buyer couple. The auction started at $920,000 and finished up at $1.070 million and the reserve was $1 million. It’s a great architecturally designed townhouse with a striking indoor-outdoor space with three large bedrooms.”
Ray White Oakleigh Jonathon Eaves - 0411 051 571
Sold for $2.270 million, $2.250 million reserve
5 registered bidders, 2 active bidders
Auctioneer Jonathon Eaves, Ray White
Mr Eaves said it was a fast and furious auction that only lasted three minutes in front of a crowd of 150 people. “We had a knockout opening bid of $2.2 million and young local family won the keys. They were upsizing and they weren't even considered the suburb at all but they fell in love as soon as they saw the house,” Mr Eaves said.
The seller discovered the house was called Roseville when they were planning to build their extension. The house was built in 1910 and bought by Constable Joseph Banks who had written this beautiful letter to his fiance at the time describing the house that he’d found and how they could raise their future family in it.
“When we heard that story we fell in love with the house. We bought Roseville from the Banks family who had owned it for over 100 years and we wanted to bring the house back to its former glory so we retained as much of the original house as we could.
"We peeled off 100 years of paint and brought it back to life by adding the extension that we feel flows beautifully from the old original house to the family living space,” the seller said.
Ray White Brunswick agent Jamil Allouche - 0410 415 197
Sold for $1.298 million, reserve $1.050 million
8 registered bidders, 8 active bidders
Auctioneer Jamil Allouche, Ray White
Ray White Bundoora Rayni Jerram - 0410 304 000
Sold for $790,000, reserve $700,000
7 registered bidders, 3 active bidders
Auctioneer: Andrew Mizzi, Ray White
