Unseasonably hot August auctions

Ray White New South Wales head of auctions Perry Edmondson-Clark said it was another strong weekend of volume across Sydney.

“Spring got an early start in New South Wales today with 151 scheduled auctions and warm temperatures,” he said.

“Bidders are certainly happy to compete and those properties announced on the market at competitive figures, achieved the best results,” Mr Edmondson-Clark said. “Sellers are encouraged to seriously consider auction day prices, as with more stock on the market, buyers are willing to wait for another property rather than just paying the vendor's dream price.”

17 Byron Street, Croydon

• Sold under the hammer for $2.215 million

• 18 registered bidders, three active

• Lead agent: Michael Simpson - 0456 550 203

• Ray White Elevate Group

Michael Simpson said everyone was blown away by the result for this brick family home in the heart of Croydon.

“We priced the home appropriately, according to market feedback, and in the end it was two determined bidders that fought it out until the end to push the price well past expectations,” Mr Simpson said.

“Many of the registered bidders only saw it for the first time this morning, and we didn’t expect the price to rise past $1.9 million.”

The winning bidders were a first home buyer couple, who had recently moved here from overseas.

“The sellers bought the home 30 years ago and rented it out. They have had the same tenant for 26 years. The tenants have moved to Burwood, and they were ready to move out after their kids had grown up. The vendors are approaching retirement age so everything just fell into place,” he said.

23 Bishop Avenue, West Pennant Hills

• Sold under the hammer for $3.370 million

• Two registered bidders, both active

• Lead agent: Nathan Leuzzi - 0412 975 190

• Ray White Upper North Shore

Nathan Leuzzi said that the sellers built the home 10 years ago and are moving to Northern Beaches, closer to their son’s schooling. They were absolutely thrilled with the result.

“The buyers are upgrading from the Western Suburbs of Sydney, and are moving here for the local schools,” Mr Leuzzi said.

“The market is firing. I had another auction today with 10 registered bidders, and I am at a 100 per cent clearance rate. I have activity on all properties at the moment; there are so many engaged buyers around.”

1 Fotheringham Street, Enmore

• Sold under the hammer for $2.75 million (reserve was $2.2 million)

• Eight registered bidders, five active

• Lead agent: Ercan Ersan - 0423 941 112

• Ray White Surry Hills

• Auctioneer: James Keenan, Ray White

Ercan Ersan said the winning bidder for this art deco duplex was an investor who planned to rent out the two units.

“The bidders were all mainly investors or multi-generational families who would make use of the dual living on one title,” he said. “This was a major drawcard for the property.”

Mr Ersan said the sellers owned the property for 10 years, living in one unit and renting out the other. They are relocating to Summer Hill.

“At the moment I am finding that if a property is perfect, it will perform really well. If there are trickier elements of the property, buyers will hold back for something better. I think people are waiting for stock levels to increase in spring. Styling, painting and presentation is hugely important at the moment,” Mr Ersan said.

17 Sawan Street, Helensburgh

• Sold under the hammer for $1.1 million

• Four registered bidders, three active

• Lead agent: Elle Ritson - 0408 512 306

• Ray White Helensburgh

• Auctioneer: Georgia Turner, Ray White

Elle Ritson said the winning bidder of this block of land, already owned a lot of land in the area.

“This was a mortgagee sale and the land has DA approval for a home,” she said.

“Helensburgh is a brilliant market to watch unfold, there are so many exciting young families or first home buyers entering into the area.”

“This is only the third auction of my career and it has inspired me. The auctioneer Georgia was confident and collected and instilled a lot of faith. Auctions are fantastic because they are final, and everyone is given the same opportunity in a transparent forum,” she said.

Ray White Victoria and Tasmania chief auctioneer Jeremy Tyrrell said auction volume remained steady this week, with 193 auctions scheduled across the state of Victoria within the Ray White network.

“Melbourne's northern suburbs led the charge with Fawkner and Preston conducting seven auctions each, followed by Bundoora and Reservoir with six apiece,” Mr Tyrrell said.

“Clearance rates for auctions held up well at 75 per cent, considering active bidder numbers dipped below two, to 1.9 on average.”

“With one more week of winter to go, next week's auction numbers explode with 275 scheduled across the state. If this is anything to go by, then buckle up for a huge Spring market.”

2A Kent St, Knoxfield

• Sold under the hammer for $965,000 (reserve was $880,000)

• 10 bidders

• Lead agent: Matthew George - 0431 632 127

• Ray White Ferntree Gully

• Auctioneer: Andrew Martin, Ray White

Matthew George said the major drawcard was that the unit had no body corporate and its own street frontage, appealing to a large range of buyers.

“The winning bidders are a downsizing couple who just moved back to Melbourne from Sydney, and they plan to live in the unit,” he said.

Mr George said the sellers bought the house and land in 1987 and subdivided their backyard and built the unit. They live in the original home next door.

“The market is strong; I have sold my last seven auctions under the hammer, they just have to be priced accordingly,” he said.

26 Callistemon Rise, Mill Park

• Sold under the hammer for $1.119 million

• Five bidders

• Lead agent/auctioneer: Mario Lambiase - 0430 585 511

• Ray White Bundoora

Mario Lambiase said the winning bidder was a local doctor who planned to put one of his family members in the home.

“The sellers bought a place from us recently in Thomastown. They are in their late 70s and getting up the front steps was becoming too tricky for the wife. They are a beautiful couple, and throughout the campaign the husband kept saying he was only selling for the comfort of his wife,” Mr Lambiase said.

“They are great, hard-working people. The wife made us all coffee at the end of the auction.

I was blown away by all the neighbours they knew intimately,” he said.

“The young first home buyer who missed out was really devastated, hopefully we can find her something else!”

Mr Lambiase said If you have quality stock that is priced right, there are plenty of buyers ready and willing to bid, due to low levels of stock.

Ray White Queensland chief auctioneer Gavin Croft said it was an interesting day under the hammer in Brisbane.

“I didn’t expect that I would be at 100 per cent clearance by the end of today but here we are,” Mr Croft said.

“Bidding has been robust, albeit not overly emotive. You can see that people are still really keen to secure property across Brisbane.”

“Our average registered bidders are slightly down but there is also a large amount of good quality stock around at the moment, and buyers are going the extra mile for this stock,” he said.

“Yesterday a number of the banks reduced their variable and fixed rates, which perhaps is playing a role in the confidence of the marketplace.”

24 The Drive, Bardon

• Sold under the hammer for $4,600,000

• Six registered bidders, three active

• Lead agent: Judi O’Dea - 0417 009 635

• Ray White Paddington

Judi O’Dea said that the seller has recently moved overseas and was on the phone from the UK at 2am.

“The gentleman who purchased it is from Townsville, and after the auction, I took him through it for the first time!”

Ms O’Dea said the buyers who are relocating to Brisbane with their four children, had been looking for some time.

“They had buyer fatigue and knew this was a perfect, sensational new build and would accommodate their busy lifestyle. They have friends who have recently bought around the corner, who came to auction and encouraged strong bidding.”

62 Park Ave, Sunnybank Hills

• Sold under the hammer for $2.25 million (reserve was $2 million)

• Six registered bidders, four active

• Lead agent: Eric Li - 0425 564 877

• Ray White Robertson

• Auctioneer: Gavin Croft, Ray White

Eric Li said the winning bidders of this large family home were a local owner occupier family, and the most groups throughout the inspections were of this same demographic.

“The sellers have recently moved back to China,” Mr Li said.

“The market is performing very well in our area. The outstanding price today was a result of the competition that the auction method creates,” he said.

119/172-180 Fryar Road, Eagleby

• Sold under the hammer for $520,000 (reserve was $470,000)

• Five registered bidders, two active

• Lead agent: Ryan Trama - 0448 295 135

• Ray White AKG

Ryan Trama said that the result was a record in the complex for a townhouse of this kind.

“The winning bidders were a first home buyer couple, who have been renting in Surfers Paradise on the Gold Coast,” he said.

“The seller was an interstate investor based in Adelaide, and she was over the moon and in tears when I called her and told her the result.”

With the auction starting at $440,000, there was competitive bidding for a few minutes between two parties, before the hammer fell.

Ray White AKG principal Avi Khan said that townhouses in Logan have been reaching record prices and this sale demonstrates just that.

“Our team is creating competition with home owners and investors alike, with a limited supply of new developments combined with strong buyer interest, the price growth has not slowed,” Mr Khan said.

Ray White South Australia chief auctioneer John Morris said that the Ray White group has averaged 90 auctions per week and held onto an impressive 40 per cent auction market share.

“Yet again we are in for another outstanding weekend of auctions, to top off an incredible, record-breaking three months in South Australia,” he said.

“There is a sea of yellow auction flags flying in the winter breeze around our great state. We have averaged seven bidders per auction, and we have rarely dipped below an 80 per cent clearance rate.”

“This weekend, our bidder registrations are slightly lower at around 5.4 per auction. However, our clearance rate is very impressive sitting at 90 per cent.”

“The market is still incredibly strong in South Australia, and Ray White is calling the most auctions and achieving better results for our clients. If you are not auctioning in this market, you are leaving money on the table,” Mr Morris finished.

8 Henry St, Paralowie

• Sold under the hammer for $685,000 (reserve was $493,000)

• 40 registered bidders, five active

• Lead agent: Justin Irving - 0412 289 674

• Ray White Salisbury

• Auctioneer: John Morris, Ray White

Justin Irving said the home was sold ‘as is’ including the contents within it, and it was a deceased estate sale.

“The executor of the estate lives in Germany, and did not have the means to clean it up. We get huge numbers at auctions like this, with people looking to pick up a bargain,” he said.

“The corner allotment and a good block size meant he has future potential as a subdivision.”

Mr Irving said the ultimate winning bidder was a local from the same housing estate, who planned to clean up the property and rent it out.

43 Jacaranda Drive, Salisbury East

• Sold under the hammer for $858,000 (reserve was $800,000)

• 16 registered bidders, five active

• Lead agent: Justin Irving - 0412 289 674

• Ray White Salisbury

• Auctioneer: John Morris, Ray White

Mr Irving then went on to sell a single level family home, which the vendors had listed ahead of a seachange to the Yorke Peninsula.

“The purchasers are coming down from Adelaide Hills and have extended family living with them. They wanted a larger house to cater for children moving back home with them.”

“The market is really amazing here; we are seeing really huge bidder numbers for properties that you might not expect to draw so much attention,” Mr Irving finished.

17 Florence Street, Fullarton

• Sold under the hammer for $1.331 million (reserve was $1.2 million)

• Six registered bidders, three active

• Lead agent: Damien Fong - 0403 257 665

• Ray White Burnside

• Auctioneer: George Kargiotis, Ray White

Damien Fong said the home was a special one, a two-bedroom bungalow with a beautiful extension out the back, a stunning verandah with an overhanging oak tree.

“The winning bidder was a dad and daughter duo, buying for the brother who happened to be away on holidays this week but fell in love with the home when he viewed it,” Mr Fong said, “The sellers are moving to Sydney for a change of lifestyle.”

Mr Fong said he had noticed a slight softening in the market, with numbers a bit lighter at open homes.

“There seems to be less FOMO in the marketplace,” he said.

17 Beryl Street, Woodville West

• Sold under the hammer for $950,500 (reserve was $770,000)

• 24 registered bidders, five active

• Lead Agent: Amy Rozek - 0437 522 021

• Ray White Flagstaff Hill

• Auctioneer: Sam Grover, Ray White

Amy Rozek said that the auction was a personal and emotional auction for her, with the vendor being her cousin.

“We priced it aggressively which is why we had so many registered bidders. It is such a hot market down here. The house is presented beautifully, it is only 13 years old and has had the same owners. Throughout the campaign we had about 220 groups through,” she said.

“The winning bidder was a local woman who has lived in the area for a long time, and is in her 70s. She had great family support, she was attracted to the low maintenance and single level living. She loves growing fruit and veggies, which she still has room to do here,” Ms Rozek said.

Ray White Western Australia CEO Mark Whiteman said the lack of supply continues to see strong selling conditions across Western Australia, but he warned that unless sellers tested the market through auction, they were at risk of underselling.

“Torrential rain and high winds in Perth were no deterrent to buyers at Ray White Western Australia’s auctions today with three of four properties selling under the hammer,” Mr Whiteman said. “With only 3359 properties available for sale in the state, strong competition will continue.”

57 Doorigo Road, Armadale

• Sold under the hammer for $508,000

• Five registered bidders, four active

• Lead agent: Matt Kalos - 0467 885 527

• Ray White South Perth

• Auctioneer: Mark Whiteman, Ray White

Matt Kalos said the winning bidder was an investor from Queensland, who flew over for the auction.

“It is a renovation job, with termite damage in the roof. The mix of buyers were families, or renovators looking to capitalise,” he said.

The sellers were investor retirees who are offloading their assets.

“The market is hot at the moment. I have another seven auctions for the next five weeks, and they are already looking to perform extremely well,” Mr Kalos said.

1-6/118 Ninth Avenue, Maylands

• Sold under the hammer for $1.85 million

• Five registered bidders, two active

• Lead agent: David Whiteman - 0418 920 409

• Ray White Whiteman & Associates

• Auctioneer: Mark Whiteman, Ray White

4 Henry Street, East Cannington

• Sold under the hammer for $840,000

• 10 registered bidders, four active

• Lead agent: Michael Smart - 0418 921 293

• Ray White Cannington

• Auctioneer: Mark Whiteman, Ray White