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Ray White saw a bump in bidder numbers today across the country, with 3.6 average registered bidders competing for its 350 auction properties across Australia.
The leading auction house reported a 67 per cent preliminary auction day clearance rate, with 2.4 average active bidders nationally.
Ray White data shows the average number of bidders at auction hit 3.7 by the end of October, the highest figure in the past year.
While today’s auctions have been fast and furious, the most exciting auctions in the country this weekend are on TV tomorrow night when The Block auctions kick off on Ch9.
Ray White has been proudly representing House 5 for Omar and Oz with our agents Aaron Hill and Maddy Perfonowski of Ray White Sunbury marketing this extraordinary five bedroom acreage home at 241 McGeorge Road, Gisborne.
This luxe residence delivers the ultimate off-grid tree-change experience with resort-style amenities including a solar heated pool, par 3 and a full-sized multifunctional court for tennis, basketball and/or soccer.
SYDNEY
Ray White NSW Chief Auctioneer Alex Pattaro said the first weekend in November continued the similar trend as seen throughout October. "Bidding activity remains up compared to levels we saw earlier in the year and the buyer behaviour has really bounced back,” he said.
“The feeling is Sydney has moved more into a balanced market but we are consistently seeing clearance rates around 60 per cent making it a great time for buyers and sellers to transact.
“We must be reminded that a clearance rate of 60 per cent is a normal market and auction remains the best method to sell to create competition as it provides sellers and buyers with a better understanding on where the market is positioned at.”
Sold under the hammer for $2.830 million
3 registered bidders, 3 active bidders
Ray White Sutherland Shire | APG director Alex Pitsis 0410 403 703
Mr Pitsis said the four bedroom home in a prestigious Yowie Bay location offered an abundance of privacy and natural light. He consistently had interest from local families during the whole campaign. The house has a beautiful water outlook.
“It was a good solid house and this is a good price. A local family who needed more space won the keys and will move in by Christmas, and my sellers are downsizing and maybe moving interstate,” Mr Pitsis said.
Sold under the hammer for $2.035 million
11 registered bidders, 4 active
Ray White Surry Hills Lead agent: Ercan Ersan - 0423 941 112
Auctioneer: James Keenan, Ray White
There were 124 buyer inspections at this three bedroom home in popular Stanmore. Mr Ersan said the opening bid was $1.8 million and his seller was over the moon with the result.
“The market feels good. We are seeing great numbers come to our open homes. This Stanmore house had a big block of land but it was on a busy road and a young family up-sizing from a two bedroom unit in Kensington are excited to be moving in.”
Sold under the hammer for $1,166,500 (reserve $1 million)
8 registered bidders, 4 active bidders
Ray White Upper North Shore Lead agent: Domenic Maxwell - 0434 537 577
Mr Maxwell sold 3/3 today for more than $3.2 million in total value, some $484,000 over the combined reserves.
The opening bid was $850,000 for the two bedroom unit in St Ives.
“There were four active bidders on this apartment and some 92 bids were placed. It got down to $150 bids and $200 bids as two local buyers fought it out. The winning bidder was someone who had downsized and was renting in the same apartment block and she loved this ground floor unit,” Mr Maxwell said.
Elsewhere 1/1026-1028 Pacific Highway, Pymble sold for $1.193 million ($950,000 reserve). “There is some confident bidding and buying again in the market and people are more responsive and comfortable to transact. People know there’s not a lot of stock which is keeping prices up. And good properties are continuing to sell well.,” Mr Maxwell said.
Mr Maxwell, a skilled and experienced auction agent who runs textbook campaigns sold another property prior yesterday, so his weekend clearance rate was 100 per cent.
BRISBANE
Ray White Queensland Chief Auctioneer Gavin last week there were 122 scheduled auctions last week, and this week only 50, which still represents a 40 per cent market share for the group in the sunshine state.
“It certainly isn't a traditional spring market. There's more stock coming on later in the year that perhaps we wouldn't normally see,” he said.
“Each week I see the agents who have refined their craft in the auction space with good quality process and execution and results.
“For me these are currently some of the most effective and efficient agents for vendors across the state.
“I think on average, we were looking at days on market at 25 per cent less than a year ago, which is good for sellers who choose to auction in southeast Queensland. In some areas of the state where auctions absolutely dominate we're seeing days on market reduced by up to 200 per cent.
“That's an extraordinary statistic and a rewarding one for home sellers who have achieved a premium result via auction. With shorter volume today, it will be interesting to see how it plays a role with the clearance rate. They've been hovering anywhere between 40 - 60 per cent.”
Sold under the hammer for $6,870,000
6 registered bidders, 4 active bidders
Ray White New Farm Lead agent: Matt Lancashire - 0416 476 480
- Auctioneer: Haesely Cush, Ray White
The top sale of the day went to Matt Lancashire and Nicholas Given in Brisbane. Mr Lancashire said the auction opened high at $6.1 million and it didn't stop moving up in a fast paced on-site auction.
“We paused at $6.7 million where we negotiated and it got put on the market and it went up to $6.870 million. The sellers are happy and a local buyer outbid a buyer on the phone from Hong Kong.”
Mr Lancashire, the state’s top performing principal across the leading group, said there was strong buyer depth activity across the board in Brisbane, from auctions to open for inspections.
“Auctions will continue to be the preferred method of sale as it allows the opportunity to create a platform to showcase a competitive environment, ensuring sellers can obtain an exceptional result.
“Our group has trademarked the term ‘competition creators’ because we believe strongly in the auction philosophy to maximise the best result for clients.
“There’s been some phenomenally big sales across Brisbane this week.”
Mr Lancashire said expat buyers, particularly those from Hong Kong, had been fuelling local demand.
“For the last two years we have seen a ramping up of demand from expats, particularly those in Hong Kong. So many people are coming up from Sydney and Melbourne and overseas and realising Brisbane is no longer a big country town,” he said.
“I have clients who live in Brisbane and commute to Sydney for a day or so a week, it’s only an hour’s flight away and COVID made working from home possible for many people in the law and finance industries.
“We have better livability, better schools and a vibrant restaurant scene plus all the infrastructure spending on the go. I personally wouldn't live anywhere else except maybe for the Gold Coast!”
MELBOURNE
Ray White Victoria Chief Auctioneer Matt Condon said the amazing Melbourne weather and large crowd sizes created a great auction day atmosphere.
“This week has seen a slight decline in auction volume across the state with just over 150 auctions scheduled for Ray White Victoria,” he said.
“Over the past couple of weeks we have seen an increase in the number of properties launching to market with many sellers choosing to schedule their auction prior to the festive season.
“This has provided buyers with more with preliminary data from the Ray White Group revealing a slight drop in the average number of active bidders per auction.
“However, it is important to note that when sellers are priced in line with market expectations, these properties are continuing to receive more inspections, bidders and ultimately a better result on auction day.
“With more stock now available to meet the buyer demand, we are certainly experiencing plenty of auction action to finish the year strong.”
Sold under the hammer for $905,000
2 registered bidders and 2 active bidders
Ray White Cheltenham Lead agent/auctioneer: Kevin Chokshi - 0430 195 517
Mr Chokshi said he sold the three bedroom townhouse to a young couple of first home buyers (pictured) who had been looking for well over a year.
“It was a busy campaign with 65 buyer groups through the property. My sellers are super happy. In fact they tried to sell the townhouse a year ago and had no interest and had to pull the auction. So I achieved a better price that what they wanted a year ago, in this so called down market.”
Sold under the hammer for $2.050 million (reserve was $1.920 million)
8 registered bidders and 5 active bidders
Ray White Manningham Lead agent: Harry Lai - 0402 638 076
Auctioneer: Andrew Freeman, Ray White
Mr Lai said it was a busy campaign with 120 buyer groups through to inspect this large family home which is located in two great school zones.
The buyers were a local family and the sellers were downsizing after 21 years in the home.
“It’s a hot day in Melbourne and things are heating up in the market. Another agency had a property down the road which was a bigger house on a bigger block and it sold for $2 million the other day. Our home was smaller and achieved a better result.”
Sold under the hammer for $2.011 million ($101,000 over reserve)
7 registered bidders and 4 active bidders
Ray White Forest Hill Lead agent: Shaun Perumal - 0426 265 400
Auctioneer: Aaron McDonald, Ray White
Mr Perumal said his seller had built an incredible house as an owner builder. “We had a crowd of more than 150 people watching on to see a local family buy the property. My seller is over the moon. She is happy. We put it on the market at $1.91 million, and she achieved an extra $101,000. It genuinely shows that auctions work.”
ADELAIDE
Ray White South Australia Chief Auctioneer John Morris (pictured) said Adelaide might have a shortage of champagne coming up if this auction streak does not stop soon.
“We have a preliminary clearance rate of 74 per cent. Today 5.5 registered bidders with three of those active that has stayed consistent throughout the financial year and calendar year and I don't think we've been below 70% on a week for a long, long time,” he said.
“Now we continue to outshine the rest of the country when it comes to the auctions and the clearance rates selling under the hammer.
“On the day we held 40 per cent of all auctions under the Ray White banner last week and this week that has dropped back down to 33 per cent which is about normal. We're calling one in three auctions week on week often exceeding that we're getting higher clearance rates than our competitors and we absolutely are at the moment the auction capital of Australia.”
Sold under the hammer for $505,000
5 registered bidders, 4 active
Ray White Norwood Lead agent Lawrence Cocca
Auctioneer: John Morris, Ray White
Sold under the hammer for $630,000
4 registered bidders, 3 active bidders
Ray White Morphett Vale Lead agent Scott Nowak - 0412 567 212
Auctioneer: John Morris, Ray White
Mr Nowak said the three bedroom low set brick home attracted a wide range of demographics from first home buyers, to investors and downsizers.
The eventual buyer was overseas, a son was buying on behalf of his parents in India.
“My sellers are happy - it was a brother and sister - finalising their estate, so it was a happy day for them. The market is certainly quieter than what it has been in recent years, it’s more balanced and we have buyers but there is less urgency at the moment.”
Sold under the hammer for $575,000
3 registered bidders, 3 active bidders
Ray White Glenelg Lead agent Adam Keane - 0421 225 630
Auctioneer: Rod Smitheram, Ray White
Mr Keane said three first home buyers battled it out today for this three bedroom home on 262 sqm.
“It was a good auction, very active and great to see good competition in the market,” Mr Keane said.
“There were more than 40 groups of buyers through the property during its short and sharp, 2.5 week campaign. My sellers are over the moon with the result as the final price was $100,000 over their expectations.”
