Spring supply brings choice for buyers

The top result for the day went to Ray White Wilston sales agent Holly Bowden who sold 6 Willis Street, Gordon Park under the hammer for $3.050M. Holly’s auction also recorded the highest number of registered bidders nationally with 10 registered bidders and 6 active bidders.

Ray White auctioned 339 properties nationally this week.

Thomas McGlynn, Ray White CEO of Performance and Value said we are entering a really interesting period for the property market as we move into spring.

“At Ray White this week we’ve seen auction volumes rise while clearance rates have remained relatively stable, which is encouraging, but the bigger question over the coming weeks will be whether the number of genuine buyers grows at the same pace as the number of properties coming to market,” Mr McGlynn said.

“That balance between increasing supply and buyer depth is going to tell us a lot about where the market goes from here.

“There are certainly plenty of buyers looking, with more than 31,000 people coming through Ray White open homes across Australia over the past week.

“What I’ll be watching now is how that interest translates into competition, because while we averaged 2.3 registered bidders per auction this week, the number of active bidders has softened to 1.7, which is at the lower end of what we’ve seen over recent weeks.”

Mr McGlynn said: “As more properties come to market, that depth of genuine buyer competition will become increasingly important”.

“For anyone coming to market this spring, I think it reinforces just how important presentation, pricing, the quality of the campaign and the work your agent does throughout it will be,” he said.

“For buyers, I believe the next few months could present a really interesting opportunity. More properties coming to market should naturally create greater choice and, in some cases, give buyers a little more time to make a decision, but that doesn’t necessarily mean good properties will become easier to buy.

“We’re still seeing competition where buyers see value, so rather than trying to predict exactly what the market might do next, spring could simply give buyers more opportunities to find the right property and make a decision with greater confidence.”

Clearance rates tell you what sold, but bidder numbers tell you something about what might happen next, Mr McGlynn said.

“As volumes rise, the depth of competition underneath those clearance rates will be just as important as the headline number,” he said.

NEW SOUTH WALES

Ray White NSW | ACT head of auctions Dave McMahon said there were 203 auctions, which is down 12 per cent from this time last year.

“But more importantly, 110 of those were today, and that number is definitely on the rise from what we've seen over the last 90 days,” Mr McMahon said.

“2.1 registered bidders, 1.5 active bidders per auction, that appears to be the new normal in the marketplace.

“Another number on the rise is our clearance rate. We sold 55 per cent of properties under the hammer on the day, and collectively if you include sold prior, sold at, sold post, we sold 76 per cent of all properties scheduled to go to auction, which is only down 2 per cent from this time last year.

“Now, if you list a private treaty in this marketplace, by day 45 you have a 27 per cent chance of selling.

“Your days on market are 35, compared to auction, which is only 29. So if you compare those two lots of data that I've just shared with you, it'll still proof auction is the way to go,” Mr McMahon said.

25 Phelps Street, Surry Hills

Sold under the hammer for $1.73M

4 registered bidders, 2 active

Lead agent: Charles Touma - 0425 305 455

Ray White Touma Taylor - Redfern

Ray White Touma Taylor - Redfern principal Charles Touma sold a two-bedroom property at 25 Phelps Street, Surry Hills for $1.73M to a young family looking to move to the Surry Hills area.

Mr Touma said the drawcard was the location and the entertaining deck off the second bedroom which is rare.

With the sellers looking to upsize in the area, Mr Touma said a crowd of 50 people watched as the hammer fell on Saturday morning.

16 Janita Crescent, Mount Colah

Sold under the hammer for $1.525M

2 registered bidders, 2 active bidders

Lead agent: Claudia Gomez - 0425 326 839

Ray White Upper North Shore

Auctioneer: Dave McMahon, Ray White

Ray White Upper North Shore sales agent Claudia Gomez sold 16 Janita Crescent, Mount Colah under the hammer for $1.525M this morning to a lady from outside the area.

“The buyer had told me she had looked at around 80 properties and was just coming to watch this auction,” Ms Gomez said.

“I had shown her several other properties in the area too.”

The four-bedroom property was sold in front of a crowd of 30 people.

Ms Gomez said the sellers were a young family looking to upsize and remain in the local area.

Seller Anthia Jacobson has lived at the property for more than seven years.

The mum with two young children said she would celebrate today’s auction success with some downtime at home.

“Claudia did amazing with all the auction preparation with us. I wanted to know all the different  situations that might occur, but then you can't anticipate how things will go on auction day,” she said.

“The outcome was good given the market situation and the few twists and turns we had along the way.

“Claudia’s expertise, advocacy and strategy was amazing.”

63 Numa Road, North Ryde

Sold under the hammer for $2.25M

3 registered bidders, 2 active bidders

Lead agent: Nicholas Schreiber - 0477 118 877

Ray White Riverside

A three-bedroom home on a 556.4 sqm block at 63 Numa Road, North Ryde sold under the hammer for $2.25M.

Ray White Riverside sales agent Nicholas Schreiber said a young family looking to upsize from an apartment to a house bought the property.

The deceased estate had been in the one family for 60 years, Mr Schreiber said.

Buyers Kevork Terzian and his wife are looking to build on the site after renting out the property for a few years.

Mr Terzian, a father-of-three said he loved the location of the property.

“The kids can walk to the park, there’s a nice backyard and it’s a nice bright property with a wide frontage,” he said.

The couple went head-to-head with a builder during the auction and placed the winning bid.

1A Heath Street, Bankstown

Sold under the hammer for $1.306M

3 registered bidders, 3 active bidders

Lead agent: Jordon Le Breux - 0414 585 364

Ray White Bankstown

Auctioneer: Tony Roumanous, Ray White

Ray White Bankstown sales agent Jordon Le Breux sold a deceased estate at 1A Heath Street, Bankstown under the hammer for $1.306M to an owner occupier this morning.

Mr Le Breux said the auction took around half an hour to sell in front of a crowd of 15 people because bidders were “stuck in the mud” and hesitant to place bids.

VICTORIA

Ray White Victoria chief auctioneer Luke Banitsiotis said a selective tone defined the property market this week, delivering a 56.7 per cent auction day clearance rate as cautious buyers weighed their next move.

“Participation figures reflected a restrained baseline across the board, averaging just 2.1 registered bidders and 1.7 active bidders per property,” Mr Banitsiotis said.

“However, aggregate averages don't tell the complete story. Select auctions saw up to six registered bidders raising their hands, proving that depth remains in the market when a home is presented exceptionally well and priced accurately from day one.

“While buyers are refusing to stretch for compromised stock, strong competition quickly returns when presentation and realistic reserve prices align.”

Looking ahead, all eyes are now firmly on the upcoming interest rate decision following this week's inflation data release, he said.

“Fresh macroeconomic signals have added another layer of calculation around borrowing capacity, keeping both buyers and sellers closely tuned to what comes next,” Mr Banitsiotis said.

9 Plowman Court, Epping
Sold under the hammer for $925,000
2 registered bidders, 2 active bidders
Lead agent/auctioneer: Nick Petrovski - 0412 838 020
Ray White South Morang

A young couple, Melissa and Andrew Furlanetto, bought this three-bedroom home at 9 Plowman Court, Epping under the hammer for $925,000 this morning.
The pair, who have one child, aged two years old, said they loved the quality of the renovation inside the home.
“We also loved that it is a home we can move straight into,” Melissa said.
Ray White South Morang sales agent Nick Petrovski said the buyers sold a home in Craigieburn to be closer to their family in Epping.
He said the sellers are moving to regional Victoria to be closer to family.
“They bought it as their first home and renovated it with long term plans to stay, but their circumstances changed.
“The sellers were happy to see another family buy their home.”

6 The Ponds, South Morang
Sold under the hammer for $1.076M
3 registered bidders, 3 active bidders
Lead agent: Ian Dempsey - 0447 556 210
Ray White Northcote

Ray White Northcote director Ian Dempsey said a single parent bought 6 The Ponds, South Morang under the hammer for $1.076M.
The four-bedroom home is set on a 821sqm block.
Mr Dempsey said he had around 45 groups through the campaign with two bidders going head-to-head during today’s auction.
“It was a single parent versus two couples wanting this property,” he said.
“It was a pretty active auction.”

QUEENSLAND

Ray White Queensland Head of Auctions Tom Gunness said the group delivered another high-volume week across the state, taking 160 properties to auction with an average of 2.4 registered bidders per property.

“Across the auction floors this week, one clear trend has emerged: sellers understand true market value and are actively engaging with buyers on the floor,” Mr Gunness said.

“In a recalibrating landscape, vendors are placing high value on the certainty of an unconditional contract - choosing the speed and transparency of an auction sale over passive alternatives.

“Bidding activity remains strong. More than 70 per cent of our auctions recorded active competition this week, signaling a clear return of buyer confidence.

“The market continues to reward proactive strategy. When sellers align with real-time feedback and agents create open competition, unconditional outcomes follow.”

6 Willis Street, Gordon Park

Sold under the hammer for $3.050M

10 registered bidders, 6 active bidders

Lead agent: Holly Bowden - 0431 922 110

Ray White Wilston

An iconic 810sqm Gordon Park property at 6 Willis Street, Gordon Park sold under the hammer for $3.050M on Saturday morning in front of a massive crowd.

Marking the end of a cherished 30-year chapter for its owners, Ray White Wilston sales agent Holly Bowden said a family who had been looking for the last five years bought it.

Ms Bowden said there was lots of energy at today’s auction.

Owners Rosie Grant and Frank Donohoe bought the home three decades ago and raised their three sons - now aged 29, 26 and 25 - alongside their 15-year-old dog Jess.

Over the years, the home evolved alongside their growing family through two major renovations in 2000 and 2009.

“This home has truly grown with us as a family. It has been incredibly versatile,” Ms Grant said.

“We did two major updates to suit the boys as they grew, adding extra bedrooms, a bathroom, a rumpus room, and a massive entertaining deck. It’s seen countless pool parties and hosted so many gatherings over the years.”

16 Knightsbridge Place, Bridgeman Downs

Sold under the hammer for $1.66M

9 registered bidders, 8 active bidders

Lead agent: Sonya Treloar - 0424 514 404

Ray White Bridgeman Downs

Auctioneer: Phil Parker, Ray White

Around 40 people watched as 16 Knightsbridge Place, Bridgeman Downs sold under the hammer for $1.66M on Saturday morning to a buyer who had not even visited the property.

The five-bedroom, three-bathroom home was marketed by Ray White Bridgeman Downs sales agent Sonya Treloar.

Mr Treloar said the buyer was from Mt Gravatt and had been shown the property via Facetime on Wednesday.

“The buyer is planning to move in and make this his new home,” Ms Treloar said.

Ms Treloar said in terms of the current market, buyers are still “out and about”.

“Everyone has to live somewhere. We are seeing solid consistent numbers through our open homes.”

203/62 Memorial Avenue, Maroochydore

Sold under the hammer for $1.1565M

3 registered bidders, 3 active bidders

Lead agent: Ari Whisson - 0449 690 995

Ray White Maroochydore

Auctioneer: Dan Sowden, Ray White

Ray White Maroochydore sales agent Ari Whisson sold a two-bedroom two-bathroom property at  203/62 Memorial Avenue, Maroochydore under the hammer for  $1.1565M.

Mr Whisson said a local downsizer bought the property and is set to move in.

He said the sellers, from interstate, purchased the property off-the-plan and settled one year ago.

“Two of the three bidders were from interstate,” Mr Whisson said.

“There was competitive bidding to $1.155 million, called on the market and then went to $1.1565M and sold.

Around 20 to 30 people attended today’s auction.

SOUTH AUSTRALIA

Ray White South Australia Chief Auctioneer John Morris said it was yet another interesting week in the local auction market.

Mr Morris said bidder numbers were softer this week.

“We averaged 1.8 registered bidders and 1.3 active bidders per auction. But despite those fewer bidders, our clearance rate actually improved - from 48 per cent last week to 58 per cent this week,” Mr Morris said.

“We're currently seeing around 40 per cent more buyers attending open inspections when the method of sale is auction, as opposed to all other methods of sale.

“We're also seeing at day 45 a clearance rate at close to 90 percent when it's an auction property and about 65 percent when it's not an auction property.

“So while some agents may look at the market, see fewer bidders, a lower clearance rate and decide this is a time to move away from auction, the data suggests that could be absolutely the wrong response.  

“When buyers become harder to find, why would you choose a method of sale that attracts fewer of them?”

2 Secomb Avenue, Parafield Gardens

Sold under the hammer for $699,000

5 registered bidders, 3 active bidders

Lead agent: Ryan Stapleton - 0400 047 114

Ray White Campbelltown

Auctioneer: George Kargioitis, Ray White

The sale of 2 Secomb Avenue, Parafield Gardens was an emotional one for siblings Cindy Lambert, Noel and Dean Bond.

Today their late mum’s home was sold under the hammer for $699,000.

Ms Lambert said her mum passed away at the age of 90 in November last year and had lived at the property for 59 years.

“We all grew up here,” Ms Lambert said.

“We had a big backyard and a great childhood. We had great neighbours and would play cricket in the street.”

Ms Lambert said her mother, who had leukaemia, lived at the home right up until she went into palliative care and passed away a week later.

“The three of us looked after mum in her home - one of us was here all the time,” she said.

Ray White Campbelltown sales agent Ryan Stapleton said the drawcard was the suburb the property is located in.

“There’s lots of redevelopment happening in the area and this property had a great frontage,” Mr Stapleton said.

“On top of that it’s a neat 1960s built home.”

Mr Stapleton said a lot of the buyers he was seeing at the moment were mum and dad investors looking to rent out properties.

He said four out of the five bidders were investors, with an investor purchasing the property at auction today.

29 Augusta Street, Hillcrest

Sold under the hammer for $920,000

6 registered bidders, 3 active bidders

Lead agent: Blake Bryant -  0476 957 176

Ray White Prospect

Auctioneer: John Morris, Ray White

Buyer Parimal Patel said he had been looking to buy a house for his family for one year.

Today he bought 29 Augusta Street, Hillcrest under the hammer for $920,000.

“This house is in a great street. It's a calm and cool area.”

The father-of-two is looking to do a knock down and rebuild.

Mr Patel said he found the auction process easy and said Ray White auctioneer John Morris was “pretty good!”.

Ray White Prospect sales agent Blake Bryant said a lot throughout the campaign came from first homebuyers and people looking to knock down and rebuild.