Spring sellers lift the market

PENT up demand from both sides of the real estate market have come flooding out of the gates as restrictions ease and Christmas nears.

While buyer demand has proven unshakeable over the past year, there is also now a steady stream of sellers seeing now as the right time to come to market and nationally, listing authorities are slightly down on the pre-lockdown numbers of a strong February, 2020.

This Saturday, the Ray White Group has 215 scheduled auctions and the strong national clearance rate of 69 per cent and average registered bidders of 5.3 from last weekend has paved the way for an exceptional weekend to come.

The Melbourne network in particular has seen a strong recovery, recording a 36 per cent increase in ‘New Listings’ since private inspections came back on September 28. This jump has translated to 63 properties going to auction this Saturday.

Last weekend, the Ray White Cheltenham office held one of the first on-site auctions after restrictions were eased by Premier Daniel Andrews. This weekend, the office will be holding their auctions back online but are expecting some similarly outstanding results.

The standout for the office will be the three bedroom 23 Churchill Ave (pictured above) home marketed and auctioned by Cheltenham’s Kevin Chokshi. The deceased estate has a price guide of $1,200,000 to $1,300,000 and is being sold by Jeff Goodwin and daughter Sarah Goodwin.

“This is a very popular pocket of Cheltenham in the Pennydale Estate,” Mr Chokshi said of the Cheltenham house.

“It’s a very tightly held area and not much comes up in the estate, so there has been no shortage of interested buyers indicating they plan to bid this weekend.

“This is in line with the rest of the market which is buzzing and booming now that we are seeing some relaxation on real estate restrictions in Melbourne.”

Watch the online auction here.

Leigh Kelepouris of Ray White Oakleigh is giving out a $1,650,00 to $1,815,000 price guide for a sought after renovator's dream in Fitzroy North, going under the hammer on Saturday afternoon. The auction will be conducted by Oakleigh auctioneer Robert Cincotta.

The four bedroom home at 248 Rae St has attracted 80 private inspections over the length of the campaign. The Fitzroy North house has been popular with buyers for its amazing location in Melbourne’s north and renovation potential.

Mr Kelepouris said interest has come from both developers and owner occupier, family home buyers.

“The majority of buyers we’ve seen have come from the surrounding suburbs and are looking to move into something bigger,” Mr Kelepouris said.

“Most of the owner occupier buyers want to do significant renovations on the property, stripping it back to the bare bones and starting again.

“They all see the potential, it’s in an unbelievable location, on a larger than usual block of land for that area along with the lane way access and three side frontage. This has been extremely attractive to buyers, so we’re expecting a great result.”

Watch the online auction here.

South of Fitzroy North, 7 Abbeygate Court (pictured above) in Frankston is set to go under the hammer this weekend in what is expected to be a competitive auction conducted by Ray White Victoria Chief Auctioneer Matthew Condon.

Ray White Frankston agent Adam Price is predicting he will hit 100 private inspections by Wednesday after showing the home to 89 prospective buyers already.

“Many buyers are coming from the Brighton and Hampton areas, so they can be closer to family and to take advantage of the family friendly suburb,” Mr Price said.

“They like that it’s more of a character home, not like a box, and can be sectioned off into three living spaces giving families a lot of flexibility, especially during this time when we are all living on top of each other."

The well maintained Frankston home has recently been updated by the current sellers and has a price guide of $710,000 to $780,000.

Watch the online auction here.

Last weekend, Ray White’s Sydney market hit an impressive 70.5 per cent auction day clearance rate with 5.8 average registered bidders attending the leading group’s auctions across the city.

As 88 properties head to auction this weekend through Ray White Sydney, there is little doubt that Australia’s largest auction market will book a similarly high clearance rate on Saturday.

Those buyers looking for a property on Sydney’s lower north shore are in luck as 55 The Bulwark, Castlecrag (pictured above) goes to auction this weekend at 10am (AEDT). Being sold through Ray White Lower North Shore senior agents Chris Keane and Desiree Hough, the Castlecrag home has been popular with a range of buyers, after more than 80 inspections.

“We’ve had a lot of attention on this house. There has been everyone from investors, to people wanting to renovate and flip the house, all the way to local families and upsizers looking at it,” Mr Keane said.

“There is a stunning view over Sailors Bay and the house is elevated on a high block with access at the rear to a nature reserve and public transport and that’s what really sells it.”

Meanwhile, in the inner city at Redfern, Ray White Touma Group Principal Charles Touma and agent Max Klimenko are expecting their own auction success for 79/219 Chalmers St.

Mr Klimenko said they have shown more than 60 groups through the two bedroom apartment and have given out a buyer’s guide of $800,000 to $850,000.

“Most of the buyer demographic has been young couples and young professionals coming from the inner west, Woollahra and Hunters Hill, so it’s been a good mixture,” Mr Klimenko said.

“The great location itself is what’s been most popular for buyers, it’s close to everything and convenience is key for this demographic of buyers.”

The Redfern apartment was recently renovated by the current sellers with Caesarstone kitchen benches, updated bathrooms and modern interiors.

The rainy weather is set to continue this weekend in Brisbane but that hasn’t dampened auction spirits. Especially for Ray White North Lakes agent Ryan Suhle, whose 39 Pademelon Circuit (pictured above) auction is forecasted to break the suburb’s single storey house sale record.

Mr Suhle said the six bedroom home is an uncommon offering in a suburb known for solid, entry level stock. This has caused a flurry of activity from buyers who weren’t previously looking to buy.

“The main interest we have had is from buyers who haven’t been looking. A lot of them just clicked into buyer mode after seeing this home,” Mr Suhle said.

“It’s the kind of home that we haven’t seen before in this area and probably won’t see again for a while and that’s brought out a lot of opportunistic buyers.

“It’s just something that ticks a lot of boxes for buyers and they are jumping on it.”

The North Lakes home has attracted buyers who see value in the bushland views and huge block coupled with high level, luxury finishes. Ray White Queensland Chief Auctioneer Mitch Peereboom will be bringing the hammer down on the Pademelon St home at 9am (AEST).

In Springwood, families have been flocking to 12 Frobisher St for inspections. The three bedroom house is being marketed by Ray White Springwood’s Tracey Steuart and has been popular with multigenerational families in particular. The midday auction will also be called by Mr Peereboom and is expected to attract some spirited bidding.

Ray White South Australia Chief Auctioneer John Morris has a busy weekend of Adelaide auction success ahead of him.

The ones to watch this weekend are from Ray White Norwood agent Ryan Stapleton, who is selling 56 Field St, Parafield Gardens and 16 Caloundra Dr, Paralowie under the hammer with the help of Mr Morris.

Mr Stapleton said the stronger of the two, at Parafield Gardens, has had mixed interest including from older couples, first home buyers and locals wanting to upsize. Meanwhile, at Paralowie, the Norwood agent has had more than 30 groups through the four bedroom home.

In Kilkenny, Ray White Woodville Principal Peter Kiritsis will be auctioning the three bedroom 1920s home at 29 Aroona Rd (pictured above). The Woodville Principal is confident of a great result at the midday auction.

The Western Australian network will also share in the auction action this weekend with two neighbouring properties going under the hammer through Ray White Aldridge Principal Nigel Aldridge.

In Bassendean, 21 and 25 North Rd are being sold either individually or as one parcel through auction. In an historic location, the two properties form part of one of the earliest land grants in the Perth metro area, dating back to 1840. Combined, the land on offer is more than 1ha and only 15 minutes from the CBD.