Under the hammer auction wrap

AUSTRALASIA’S biggest property group and largest auction house, Ray White, scheduled 301 auctions and recorded a preliminary clearance of 54 per cent across Australia and New Zealand under the hammer last week.

Ray White Corporate has streamlined its data collection of auction results via a targeted text message on game day so the leading group can track the network's progress and adjust its training where applicable.

Overall more than 8500 people attended Ray White's auctions, which was two per cent lower than the previous week.

"On average we had 2.4 registered bidders at each of our auctions this week and the average crowd size was 28 people. In Sydney our preliminary clearance was 61 per cent of 67 auctions and in Melbourne we have a preliminary clearance 58 per cent of 115 auctions," said Ray White media manager Alex Tilbury.

The highest sale of the week was in Victoria at 1-3 Blanch St and 1 Isaacs St, Preston. Ray White Preston directors John Catanzariti and Mathew Marotta sold the 27073sq m development site for $5.1M under the hammer on Saturday afternoon in front of 15 people.

In Brisbane, Ray White Queensland chief auctioneer Mitch Peereboom said the leading agency booked a preliminary clearance of 45 per cent of all its auctions last week - compared to 35 per cent as reported by Domain on Saturday. "The start to the new financial year has been strong with some exciting auctions conducted across south-east Queensland," he said.

In today’s Australian Financial Review, Mr Peereboom was quoted as saying a high number of units sold over the weekend helped push up the Ray White clearance in Sydney and Brisbane. He said first home buyers were more confident than they were a year ago.

Back in Melbourne, Georgie Christodoulou, sales consultant at Ray White Cheltenham sold 39 Donald St, Highett under the hammer of auctioneer Kevin Chokshi for $1.45M in front of a crowd of 80 people for vendors Jim and Maria Karaksis who had lived there for 40 years. As reported by the Sunday Herald Sun newspaper three bidders vied for the property and the house was called on the market at $1.435 million. More than 30 bids were lodged before the hammer fell.

Up in Brisbane, The Sunday Mail reported this five bedroom Queenslander with the blue ribbon address attracted a crowd of 75 people and sold under the hammer for $1.4M at 37 Evadne St, Graceville through Ray White Graceville agents Douglas May and Charlie Lilley.

This coming Saturday, all eyes will be on the West as "the most famous block of land in Australia" is set to go to auction. The prestigious Peppermint Grove super block goes under the hammer at 2pm Perth time. The 2 Bay View Road site has been listed through Ray White Dalkeith | Claremont principal Vivien Yap who said the property offered a buyer an “unprecedented opportunity to own 6582sqm of absolute blue-chip land in the heart of Peppermint Grove”. Experienced Perth auctioneer Mack Hall will wield the auctioneer’s hammer. The partially-built, so-called ‘Taj on Swan’ mansion was demolished under council orders in 2016.