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The last weekend of winter delivered substantial auction volume across the country, with Australasia’s largest real estate group conducting 286 auctions. Ray White reported a preliminary clearance rate of 62 per cent nationally.
Hundreds of happy buyers and sellers had a spring in their step today, with an average of 3.6 registered bidders per auction.
Resounding feedback from agents and auctioneers across the country is that despite interest rates and market speculation, buyers and sellers still need to transact property and the market appears to be stabilising.
This year, Ray White sellers who have held off taking the highest offer prior have, on average, been rewarded with 11.07 per cent more on their sale price. Using the median house price in Australia of $729,000 as an example sale price, 11.07 per cent would be an extra $80,700 added on top.
A standout for the day was Brisbane, with Ray White achieving a string of multi-million dollar sales across the river city. The highest sale of the day was when Ray White Clayfield principal Nicholas Given sold 2 Florence Street, Clayfield, a grand family home complete with a tennis court, for $6,950,000 under the hammer to a local buyer.
“To achieve 10 registered bidders for a home of this calibre is testament to the prestige property market at the moment,” Mr Given said.
SYDNEY
Ray White New South Wales chief auctioneer Alex Pattaro said he was continuing to see strong auction results across Greater Sydney.
“Auctions across Sydney are not only achieving a good amount of registered bidders, but crowd attendance is continuing to build,”
“A-grade homes are the first choice for buyers. Buyers remain cautious, but when competition presents itself, they are likely to pay more and engage in bidding. This means that auction must be the preferred method of sale, as it creates competition and ensures sellers are achieving the best result,” Mr Pattaro said.
152 Killarney Drive, Killarney Heights (buyers pictured above)
Sold under the hammer for $3,290,000 (reserve was $3,150,000)
6registered bidders, all active
Ray White Seaforth - Kellie Rowe and Mark Griffiths
Auctioneer: James Kerley, Ray White
Mark Griffiths said the auction was exhilarating, with all parties battling it out across 37 back and forth bids.
“The owners had a dream price of $3.2 million, so they were absolutely thrilled when it surpassed that price.
“They were the third owners of this home, and had even laid out historic flyers (pictured below) they had from when it was originally built,” he said.
The sellers bought an investment property in Manly a few years ago which they will be downsizing into. The buyers were a couple who are currently in Lane Cove and have multiple friends living in the same street.
“The house is spectacular, and it sits in a beautiful position on the street which overlooks the harbourfront.”
Sold under the hammer for $2,220,000
Four registered bidders, three active
Ray White Surry Hills - Matthew Carvalho and George Pavlidis
Auctioneer: Tim Snell, Ray White
Mr Carvalho said the seller was the original architect of the unique home, and had been holding it as an investment with his children living in it.
“The incredible architecture of the home and the additional work studio were major drawcards for buyers; we had 100 groups look throughout the campaign and issued 13 contracts prior to auction,”
“Even though it was a 20 year old renovation, it was in immaculate condition.”
The winning bidder was a lady downsizing from the inner west of Sydney.
“I feel as though the market is stabilising and buyers aren't so afraid to purchase anymore, and as always the auction method provides urgency and social proof to buyers,” Mr Carvalho said.
61 Bruce Ferguson Avenue, Bardia (pictured above)
Sold under the hammer for $2,470,000
11 registered bidders, all active
Ray White Macarthur Group - Ibrahim Merjan and Josh Braithwaite
The auction of this contemporary eight-bedroom home drew in a huge crowd of over 140 onlookers, neighbours and bidders.
“This was a phenomenal result, more than $270,000 above the highest offer prior to auction,” Mr Merjan said.
“This marks the highest recorded non-acreage residential auction price in the history of Bardia.
“It was a showstopper of an auction, with happy vendors, buyers and a lively crowd cheering on this brilliant street record,” he said.
BRISBANE
Ray White Queensland chief auctioneer Gavin Croft said he believed sellers in Brisbane have grasped the change in the market.
“I have had a 100 per cent clearance rate today, with a combination of properties selling under the hammer and properties selling prior,” he said.
“I believe it has taken around 10 weeks to achieve this balancing out of the market, and we are starting to see more of an equilibrium between buyer and seller expectations.”
2 Florence St, Clayfield (pictured above)
Sold under the hammer for $6,950,000
10 registered bidders, seven active
Ray White Clayfield - Nicholas Given and Matt Lancashire
Auctioneer: Haesley Cush, Ray White
The auction of ‘Tanglin House’ on a sprawling 1,610sqm in prestigious Clayfield was a thrilling one, with Nicholas Given saying the demand for high-end properties is as robust as ever.
“While we still receive a lot of enquiry from interstate and international buyers, the main demographic of people bidding on this home were locals from Clayfield, Hendra, Ascot or Hamilton,” Mr Given said.
“There is clearly a real love from locals in this area.”
Mr Given said the north-east facing aspect of the house, the elevation and of course the tennis court were major draw cards for buyers.
“The sellers were really happy with the result; they have lived there for 25 years and they have downsized to an apartment in New Farm; they no longer needed the space,” he said.
The buyer was a local family who already own in Clayfield, and they were most attracted to the tennis court for their children.
Sold under the hammer $2,110,00
One registered bidder, one active
Ray White Ascot - Judy Newlands
Auctioneer: David Treloar, Ray White
Ms Newlands said the sellers (pictured above) have been in the beautifully-renovated workers cottage for 43 years and are moving on to downsize.
“We had the home styled for sale which I think is such an important element of the selling process; we live in a highly-visual world now with hundreds of properties at people's fingertips to scroll through, so photography and styling is imperative,” Ms Newlands said.
“We also had a strong newspaper advertising campaign which attracted over 60 groups through the property.”
The winning bidders were a local family.
95 Stephen Street, Camp Hill (pictured above)
Sold under the hammer for $1,600,000 (reserve was $1,500,000)
Seven registered bidders, six active
Ray White Bulimba - Robyn Hoare
Auctioneer: Haesley Cush, Ray White
“The vendors thought it would be a dream to achieve $1.5 million, so as you can imagine the tears were flowing when the hammer went down at $1.6 million,” Ms Hoare said.
“It was one of those brilliant old-fashioned auctions; it just kept firing away without any pause.”
The winning bidder was a gentleman who has an existing property portfolio in the area, and has plans for his son to move in.
“The home has city views and a DA approval to lift and renovate to elevate it even more,”
“I have had many messages from locals already; this auction has given sellers and buyers in the Camp Hill area more confidence that the market has stabilised,” she said.
132 Bell Street, Kangaroo Point (pictured above)
Sold under the hammer for $1,975,000 (reserve was $1,900,000)
Three registered bidders, all active
Ray White Brisbane City - Karen Pierce
Auctioneer - Dean Yesberg, Ray White
“The sellers bought the property in 2017 and they did some small renovations and put in the pool. They have absolutely loved living here but are moving back to the UK,” Ms Pierce said.
“A lovely young couple with a two-year-old were the winning bidders, and they currently live in West End. They came to every single open home and brought their family and friends with them.”
Ms Pierce said the buyers, who were working with a buyers’ agent, were over the moon.
“It was a beautiful changing of the guard between these two families, and everyone is thrilled.”
61 Lizzie St, Bardon (pictured above, an elated seller)
Sold under the hammer for $2,135,000
Six registered bidders, four active
Ray White Paddington - Judi O’Dea and Michael Kleimeyer
The winning bidders of this contemporary home in sought-after Bardon were a young family of four who just recently sold their cottage in Paddington and were looking to upsize.
“The sellers were absolutely thrilled; they are a young family who are now tossing up between moving to the Sunshine Coast or taking some time off to travel the world!”
Ms O’Dea said she was extremely committed to the auction method.
“It is the only way to encourage buyers and sellers to make decisions and meet in the middle, otherwise you could be sitting out there for an extra 20 plus days on market,” she said.
MELBOURNE
Ray White Victoria and Tasmania chief auctioneer Matt Condon said it was another solid week of volume for Ray White Victoria with just over 160 auctions scheduled across the state.
“Based on preliminary data from the Ray White Group, we saw an average of 3.6 confirmed bidders across Victoria. This is a slight increase on previous weeks.”
“Properties that are priced to meet the market are continuing to receive more inspections, bidders and ultimately a better result on auction day. It was also great to see buyers bidding fiercely, with a number of properties selling well in excess of the reserve price,” he said.
Mr Condon noted over the last few weeks there seems to be more demand for quality properties than there is supply across Victoria.
19 Derinya Drive, Frankston South (pictured above)
Sold under the hammer for $1,560,000 (reserve was $1,500,00)
6 registered bidders, three active
Ray White Frankston - Ashley Weston and Jessica Page
Auctioneer: Matt Condon, Ray White Victoria and Tasmania chief auctioneer
Mr Weston said buyers were attracted to the mid-century style home with ‘good bones’ and a beautiful bushy outlook at the back.
“The winning bidders were a young family with two children from nearby Carrum, who plan on renovating this property into their dream home,” Mr Weston said.
“There is also a brilliant primary school on the same street, which made this property even more attractive.”
The deceased estate sale was bittersweet, but the beneficiaries were wrapped with the auction outcome.
“July was quiet but August has been phenomenal; we are on track to having our best August in our 17 year of operation,” Mr Weston said.
Sold under the hammer for $1,903,000 (reserve was $1,800,000)
Five registered bidders, all active
Ray White Blackburn - Peter Schenck and Trista Lee (pictured above)
Auctioneer: Peter Schenck, Ray White
The winning bidders of this modern family home were a local Wantirna family, originally from Hong Kong, upsizing from a townhouse.
“Because this is almost a brand new home, we had so much interest from buyers wanting to avoid building costs or buying off the plan. If people have a modern home and are considering making a move, there is huge demand right now,” Mr Schenck said.
The sellers were based in Sydney and Sri Lanka, tuning in to the livestream of the auction and providing instructions via text message.
Sold under the hammer for $1,026,000 (reserve was $900,000)
Six registered bidders, four active
Ray White Ringwood - Chris Watson and Olivia Mackie
Auctioneer: Chris Watson, Ray White
The auction of this dual investment opportunity was conducted online, with Chris Watson saying the online auction method was one positive to come out of the pandemic.
“We are performing around 80 per cent of our auctions in an online format. We find that from the vendor's point of view, it is less nerve wracking and intimidating, and the bidding flows really well,” he said.
The large income stream made it an attractive property to investors. Both the seller and the buyer of this property were investors.
ADELAIDE
Ray White South Australia and Northern Territory chief auctioneer John Morris said in the last couple of weeks, any seller who has chosen a Ray White agent to sell their property has been well rewarded in South Australia.
“While the clearance rates around the country were around 52 per cent, in South Australia our clearance rates were around 72 percent,” he said.
“This year, Ray White has conducted 40 per cent of all auctions throughout this great state. According to our Ray White data compared to industry data, if you engage a Ray White agent, you have a 10.5 per cent high chance of clearance.”
1 Verdant Court, Wynn Vale (pictured above)
Sold under the hammer for $625,000 (reserve was $600,000)
Nine registered bidders, five active
Ray White Norwood - Lawrence Cocca and Stefan Siciliano
Auctioneer: John Morris, Ray White SA/NT chief auctioneer
“This was a brilliant campaign; the buyer actually came from another Ray White office and it was fantastic to work together as a team,” Mr Cocca said.
A young couple were selling the property, and the winning bidders were a first home buyer couple who were absolutely over the moon to be finishing their house hunting journey.
“I have grown up in Wynn Vale and never want to leave; everyone who moves here inherits a community as well as a home, so we are thrilled for these first home buyers,” he said.
Sold under the hammer for $1,400,000 (reserve was $1,300,000)
Six registered bidders, three active
Ray White Mount Barker - Johnny Zehle
Auctioneer: Joshua Bagley, Ray White
Mr Zehle said the winning bidder of this unique acreage property was an interstate buyer, who flew over to inspect the property, and had a proxy bidder there on the day.
“Of the latest 20 enquiries on this property, about 15 were interstate buyers. We have a huge amount of interest from interstate, especially on acreage properties,” he said.
The seller, a renowned local artist, had been there for 17 years and was making a seachange.
“It was a great auction with 40 plus bids, I ran out of space on my bidding sheet!” Mr Zehle said.
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Media contact
Nina Clarke
Ray White Group
0448 841 606
nclarke@raywhite.com
