Strongest month in history for leading group

THE NUMBERS are in and Australasia's largest real estate group, Ray White, reported $5.71 billion in sales for October.

This billion dollar number represents the strongest month of sales ever in the group’s 118 year history. Meanwhile, November numbers are shaping up well to deliver the leading group another huge month - ending the spring selling season with a bang.

Demand continues to outstrip supply, with new listings over the past 28 days down 3.43 per cent on this time last year. This demand has held sellers in good stead, especially at auction, where competition is strong and properties are being snapped up at premium prices.

Month to date, the national clearance rate soared to 67.1 per cent, while average registered bidders stayed strong at 4.8 - up 1.1 on last year. Across the country, the Ray White Group has taken 283 homes to auction since the first of the month while this weekend there are another 230 going under the hammer.

It’s been a strong spring selling season for the Sydney auction market and month to date the Ray White Sydney auction clearance rate is sitting at 73.8 per cent. Since November 1, the leading auction group has conducted 93 Sydney auctions with an average of 5.2 registered bidders attending, showing that competition has been fierce.

Last weekend alone, Ray White Sydney booked a clearance rate of 73.5 per cent with 5.1 average registered bidders at auctions.

This weekend is set to be just as strong with 85 properties scheduled to go under the hammer through Australia’s leading auction agency.

Buyers have been falling over themselves to inspect 18 Griffin St, Surry Hills (pictured above), which is going to auction through Ray White Taylor and Partners' Annie Hodgson and Walter Burfitt-Williams.

The three bedroom, Thailand inspired terrace home has a price guide of $2,000,000 and has been popular with local buyers.

“Interest is coming from people who love the house and are tempted to move even if it’s just down the road,” Mr Burfitt-Williams said.

“It’s attracted a lot of interest with 92 groups at inspections over three weeks, the buyers are discerning and not actively looking but they have been tempted by this property.

It’s going to be a stellar auction at 183 Nelson St, Annandale (pictured above), where Ray White Inner West agent Tina O’Connor has had almost 180 groups and counting through open homes. Ray White NSW Chief Auctioneer Alex Pattaro will conduct the auction.

Ms O’Connor said young families and downsizers have been going crazy for the two bedroom Annandale home.

“Many of the young family buyers interested are looking to take on a renovation project. They can see the potential which will add a lot of value to the house,” Ms O’Connor said.

“Most are thinking of turning it into a three or even four bedroom home with two bathrooms and a studio over the garage which is what a typical renovation in this area would look like.

“Meanwhile, downsizers are planning a bathroom and kitchen refresh but the real value for them lies in the great location.”

Following on from a massive last weekend of 12 auctions in one day, Ray White Surry Hills will be backing it up with eight auctions this Saturday. The highlights of the day will be 32/42 Lombard St, Glebe and Terrace 5/208a St Johns Rd, Forest Lodge sold through Associate Director Matthew Carvalho.

While Lombard St has been popular with downsizers, Mr Carvalho said St Johns Road has mainly attracted first and second home buyers.

“Downsizers on Lombard St want a spacious apartment with a view across the city skyline and it represents an opportunity to get into an exclusive Mirvac development in one of Glebe’s best streets,” Mr Carvalho said.

“The first and second home buyers interested in St Johns Road want more bang for their buck. The townhouse is a good size and has a great layout and offers a bit more than a house in the area at that price point.”

Since the start of November, average registered bidders in Victoria’s capital were up 1.5 on this time last year at 4.7. A solid 84 properties went under the hammer through the leading real estate agency and booked a 73.8 per cent clearance rate.

The Ray White Carnegie office has been a consistent force in the Melbourne auction market, even during strict Stage 4 lockdown. This weekend, Ray White Carnegie PartnerJosh Hommelhoff will be continuing the office’s auction success at 1/36 Sycamore St, Malvern East.

With a price guide of $780,000 to $850,000, the auction will be conducted online by Ray White Carnegie Director Matt Hurlston. Mr Hommelhoff said the location has been attracting buyers.

“It’s in a cracking location on a beautiful, tree-lined street with amazing period homes up and down,” Mr Hommelhoff said.

“You’re only a short walk to the train station, cafes and lots of well-maintained parklands.”

The two bedroom unit has been popular with both ends of the property market, first home buyers and downsizers.

The team at Ray White Craigieburn will be hosting an auction collective this weekend with seven properties on offer through online auctions that can be viewed here. The standout auction is expected to be 19 Bellfield Dr (pictured above), marketed by agent Daniel Diamantopoulos.

Mr Diamantopoulos said the sellers have put a lot of work into getting the 15 year old house ready for sale.

“They built it as their dream home to raise a family 15 years ago and fixed it up nicely. It’s going to be a beautiful family home for someone and ticks all the right boxes,” Mr Diamantopoulos said.

Kevin Chokshi of Ray White Cheltenham said the area has been a hot market at the moment as buyers flock to the southside suburb. In particular, buyers have been seeing the potential when it comes to the knockdown properties like 134 Weatherall Rd, Cheltenham. Mr Chokshi expects the online/on-site auction to be a nail biter that shows the strength of the market after a huge amount of interest from young families and developers.

Online auction links available on request.

Spring selling season has brought out warm weather and eager buyers in the Sunshine State capital of Brisbane. Ray White Brisbane agents are again expecting some strong competition from buyers including George Yang of Ray White Rochedale.

Mr Yang is taking 68 Demigre St, Eight Mile Plains to a morning auction conducted by Ray White Springfield General Sales Manager Phil Broom. Mr Yang has had more than 60 groups through the five bedroom family home with more to come.

“It’s a good street and even more in demand because there is back access to the local primary school nearby. It’s the youngest pocket of Eight Mile Plains where houses are 10 years old or less,” Mr Yang said.

“Most of the interest is coming from families either upsizing or swapping for something newer.”

Not to be left out of the auction success is Ray White Ashgrove agent Tamara Lee who is taking 36 Confederate St, Red Hill (pictured above) to auction, called by Ray White’s Phil Parker. Ms Lee said she has had strong interest in the home over the campaign with more than 80 groups inspecting the Red Hill house.

“There has been a huge mix of interested buyers from younger, professional couples to downsizers in their late 50’s, as well as some investors looking for a solid return because of the layout and great location,” Ms Lee said.

“The younger buyers have been loving the house because it’s been completely renovated with an extension off the back, extra bathroom and plenty of multipurpose space. They don’t want to have the stress of renovations and are willing to pay more.”

Ray White Adelaide has also recorded an outstanding spring with some great success stories coming out of the South Australian capital. One of Adelaide’s leading auction offices, Ray White Norwood, has six properties scheduled to go under the hammer this weekend. The ones to watch are 17 Bradfield St, Burnside sold through agent Brandon Pilgrim and fellow agent Nick Borrelli’s listing at 118 Coach Rd, Skye.

In the morning, Ray White Woodville Principal Peter Kiritsis also has an auction to watch at 22 Jenkins St, Cowandilla (pictured above). The 1926 bungalow home has received a huge amount of interest from buyers - particularly those looking for a renovated character home.

Meanwhile, in Welland, Ray White Glenelg agent Rod Smitheram is expecting a great result for 23 Hindmarsh Ave which has been popular with buyers across Adelaide.