October auctions begin with a bang

THE first Saturday of October has set the tone for another outstanding month for Australia’s leading auction agency.

The Ray White Group recorded a 67.4 per cent national auction day clearance rate with 127 auctions booked for the first Saturday of the month. Average registered bidders were 5.2 while active bidding reached a healthy 3.1 per auction.

These numbers forecast another strong month after a record July through to September result for Australasia’s leading real estate group.

Meanwhile in Victoria, auction numbers are set to jump dramatically in coming weeks as back to back, one on one private inspections dominated the day for most offices.

In the country’s biggest auction market, Ray White New South Wales Chief Auctioneer Alex Pattaro said auction volume across the state is slightly down due to the long weekend but buyer activity continues to remain red hot.

“Registered bidders are holding firm at five, with three being active and we are seeing large Open for Inspection attendance on new stock,” Mr Pattaro said.

“Agents in the North Shore have reported 20-30 attendees turning up on sellers’ door steps.

“An abundance of competition, positivity and confidence are leading to stronger house prices and incredible clearance rates. We see no reason why sellers would hesitate to come to the market now.”

The auction of 10 Rutland Place, Wahroonga was the highlight of the day with the three bedroom home selling for $2,510,000 through Ray White Upper North Shore Agent Thomas Merriman.

The auction got off to a great start beginning with a $1,950,000 bid that was $50,000 above reserve. Mr Merriman said all 11 of the registered bidders at the 10am auction actively participated.

“The auction was really competitive with half the bidders families and the half investors,” Mr Merriman said.

“Everyone registered wanted to knock down the property and rebuild including the winning bidders, a local family who are now going to build their dream home.”

Earlier in the day, Upper North Shore Director David Walker had his own success with the sale of 4 Scullin Place, Wahroonga for $2,001,000 as seven registered bidders watched on.

“We had a good, strong opening bid of $1,810,000 until eventually it sold for well above expectations,” Mr Walker said.

“The buyers are a young family who are looking to get into the area for the school zones and family friendly amenities.

The Wahroonga market has been going from strength to strength as spring selling season continues.

“We’ve seen strong activities from all sectors of the market. People want to get in and lock in low interest rates and take advantage of the market as it is,” the Upper North Shore Director said.

“We’re finding huge numbers at our open homes and a lack of stock is making people eager to want to secure something before Christmas.”

Both Wahroonga auctions were called by auctioneer Jason Keen (pictured above at 10 Rutland Place).

In Bondi, a hotly contested three bedroom home sold for $195,000 above reserve for $1,645,000. Ray White Bondi Junction Agent Ray Nicholas said the keys to 27/37 Paul St went to a buyer planning to downsize.

“There were five registered bidders but three of them were battling out to the last,” Mr Nicholas said.

“The bids were coming in fast and it was ultimately a really strong auction.”

Joining Mr Walker and Mr Merriman in grossing more than two million for an auction today was Ray White Balmain Agent Chris Williams who recorded a $2,285,000 sale – $85,000 above reserve.

Mr Williams sold 25 North St, Marrickville to a young family that had been looking all year.

“The buyers are so relieved to be able to call it home. They had bid at 10 auctions before this one and then decided to just throw everything at it so they could have something by Christmas,” Mr Williams said.

“They loved that it’s a big block of land and the house still has all the original features but they can still add their own touches with renovations.”

Eight registered bidders turned up to the auction with six bidding. The winning bidders were renting locally.

Ten registered bidders and a crowd of onlookers flocked to the auction of 2 Rodney St in East Ryde where Auctioneer Jason Keen welcomed new buyers.

Ray White Gladesville Agent Barrie Brown sold the three bedroom home for $1,860,000 – well above reserve – as three bidders gave it their best.

“All the bidders were young couples at that stage of life where they are starting to think about a family and wanting to get into a nice, cul de sac in a good suburb,” Mr Brown said.

One Sydney first home buyer was in luck today as the New South Wales Chief Auctioneer brought down his hammer on 11/77 Denman Ave, Wiley Park.

Sold through Ray White Punchbowl Agent Kamal Ali, the two bedroom unit went for $398,500 with three registered bidders looking on.

The Punchbowl agent said the sellers were thrilled with the result after another similar apartment sold in the complex last month for $380,000.

Meanwhile, Ray White Epping NSW Agent Scott Baxter took out the shared top spot (tying with Ray White Swan Hill) for most registered bidders after 16 eager buyers swooped in for his 12/145 Balaclava Rd, Marsfield auction. The three bedroom unit sold for $1,200,000 under the hammer.

Further south, spring selling season has hit Australia’s capital city where Ray White Canberra Agent Troy Reddick successfully sold 6 Ashton Cres in Cook for $981,000.

Mr Reddick conducted the auction himself which he described as having a really happy and friendly vibe with five of seven bidders active.

“It was the perfect spring day and the home and gardens were looking their best,” Mr Reddick said.

“All the neighbours came out to welcome the new buyers who were a local couple that had been looking for a while but just kept missing out until now.

“They loved the privacy of the home, the beautiful gardens and the community feel of the street.”

Ray White Victoria | Tasmania CEO Stephen Dullens said last Sunday’s announcement from the Victorian government was welcome news for thousands of Victorians who have an urgent need to buy, sell or lease property.

“The return of private inspections in metropolitan Melbourne, with strict safety protocols, provides an opportunity for those with the greatest need to once again transact,” Mr Dullens said.

“In response to the announcements, market activity has been strong with our Ray White agents across Victoria launching close to 300 new listings to market since last Sunday.

“Thousands of private inspections have been conducted with buyers keen to recommence their property searches.

“While auction activity across Melbourne this week was low, those vendors who did choose to auction were certainly rewarded as evidenced by our preliminary clearance rate of 66.7 percent.

“We expect auction numbers to increase over the coming weeks as campaigns launch and confidence in the market builds.”

Still in the middle of the city’s lockdown, a handful of Melbourne auctions today made for some very happy buyers and sellers. One of the standout results came from the powerhouse auction office of Ray White Frankston. Sales Agent George Devic sold a 400sqm parcel of land at 2/103 Dunsterville Crescent, Frankston for $245,000, an enormous $105,000 above the reserve price.

Bidding started at $125,000 and rose quickly after the bidders fought it out online until auctioneer Matt Condon dropped the hammer.

“The highest offer prior to auction was $150,000, so you can imagine how thrilled the sellers of this estate were with a $245,000 sale price,” Mr Devic said.

The property itself had suffered fire damage and was uninhabitable, so all buyers were looking to demolish and rebuild.

“We had a number of builders and developers that were looking for opportunities to rebuild and on-sell, and most buyers had not physically seen the property because Covid restrictions have been in place through the whole campaign.”

The winning bidders were a couple from a neighbouring suburb, who planned to build a new home and rent it out as an investment property.

Mr Devic said since restrictions in Melbourne were relaxed last Sunday, their office has been inundated with requests from both buyers and potential sellers.

“Personally this week, I have conducted 19 private one on one inspections and we had 110 for our office booked in.”

“There are so many people who are needing to purchase; for example those who have recently sold and haven’t been able to inspect to buy their new home.”

“Today’s result really backs up the resilience of australian real estate, and strength of the auction process.”

In another strong auction for Victoria, 8 El Alamein Avenue in Swan Hill sold for $370,000 after the opening bid kicked off at $280,000. Ray White Swan Hill Principals’ Fiona Hawley and Cameron Smits (pictured above) said that the sellers of the deceased estate were over the moon with the result.

“The buyers are locals, and they are going to rent it out for about 10 years and then one day retire here,” Ms Hawley said.

Ms Hawley said that the demand from buyers is showing no sign of slowing down.

“Because we are in regional Victoria, we were still able to book in private inspections and take buyers through, which we feel very grateful for,” she said.

The online auction drew quite the crowd, with 33 people tuned in to watch and 16 registered bidders.

A beautiful spring day in the Sunshine State saw great success for buyers and sellers, with some phenomenal results this long weekend.

Ray White Queensland Chief Auctioneer Mitch Peereboom said it has been another strong week of clearance for Ray White Queensland, with the number of average registered bidders holding just below 4.

“We have had great results across multiple market segments; the sales from inner Brisbane apartments right through to prestige property.

“The stand out auction for the week was in Palm Beach by Dion and Daniel from Ray White Tugun selling with 12 registered bidders, and again confirming the strength of the real estate market.

“If you are looking at selling, talk to your preferred Ray White agent and if you are looking at what time is appropriate, we are so confident to come to the market now with the activity we are seeing at our auctions.”

An expansive contemporary family home at 37 Howard Street (pictured above) in Brisbane’s inner northern suburb Grange sold for $1,715,000 under the hammer. Ray White Wilston’s Principal Alistair Macmillan and Sales Associate Sam Hagen said that they had over 70 groups through the home during the four week campaign and attracted six bidders.

“The ground floor living and dining attracted a lot of young families to the home; so many people are chasing that open plan living,” Mr Macmillan said.

The winning bidders were not present physically at the auction, but were bidding via Facetime all the way from California’s Silicon Valley.

“The gentleman who came out on top is actually a tech entrepreneur living in California, and has only viewed the property by virtual Facetime inspection,” Mr Macmillan said.

“They are originally from New Zealand and have decided to relocate to Brisbane to be close to family and to enjoy the Queensland lifestyle.”

“They have their daughter booked into a local school and are very excited about living here; we are very happy for both the buyers and sellers today.”

The sellers were a young family who had bought this as their forever home, but had recently been offered a job opportunity in Melbourne.

The Ray White Wilston team currently have quite a number of buyers who are based overseas or interstate.

“We have international buyers from places like Hong Kong, and many buyers from Sydney and Melbourne, many of whom are from Brisbane originally and wanting to move back, which is interesting.”

The auction-focussed team at Wilston have been running 10-15 auctions per month, having only passed in three properties since March. They are also running more and more virtual inspections by the day.

“We have had a massive influx of buyers; most are owner occupiers wanting to capitalise on cheap interest rates,” Mr Macmillan said.

“I have been doing this for 20 years, and this is the best market I have ever experienced.”

In leafy Chapel Hill, Ray White MetroWest Principal Craig Sharp and Sales Agent Anthony Pasmore drew a socially-distanced crowd of more than 100 people and 14 registered bidders, to 12 Columbia Street. The hammer dropped at $1,375,00, leaving the buyers and sellers thrilled.

“The sellers have been in this much loved home for over 40 years, so it has been a long time in the making,” Mr Sharp said.

The campaign saw 126 groups come through to inspect the home, with mostly young families wanting to take advantage of the huge leafy block and proximity to excellent public schools.

The buyers, a young family who are relocating back to Brisbane from Sydney said they knew this home was the one they had been looking for as soon as they saw it.

“We came through every open home throughout the whole campaign,” said the happy buyer Jenny.

“I grew up just down the street and my mum still lives here, so it is my old stomping ground and my daughter is going to go to school where I went to school.”

“We always knew we were going to come back to Brisbane sooner or later, and everything that has happened with COVID helped us make the move earlier to be closer to family.”

“We were really attracted to the lifestyle that this property offers; the house seems like it is on acreage, but still close to the city. We love the nature and the trees, and the grounds provide an old fashion childhood feeling”

“You can tell there is a lot of love in this house, and it was wonderful to have that handover with the previous owners.”

“We loved the property video! Those agents Craig and Anthony are lovely people and charming to work with.”

Meanwhile at 33 Percival Terrace in Holland Park sold for $936,000. The campaign was marketed by Ray White Holland Park agents Joseph Leong and Scott Hay who saw 86 groups throughout the four week campaign, with five groups registering to bid.

“The seller was a lady who is downsizing as her kids have grown up, and the buyers were a young couple ready to make this beautiful home their own,” Mr Leong said.

“All parties are really happy with today’s result. The buyers had actually made an offer of $835,000 prior to the auction, which gives you an idea of how powerful the auction process can be.”

“The market is going crazy at the moment; we just launched a house this week which had over 70 groups come through the first open home.”

Ray White South Australia Chief Auctioneer John Morris said auction numbers were low across South Australia this week but the network still had almost 50 per cent share of all auctions throughout the state.

“While preliminary clearance rates are just shy of 45 per cent, every other metric is in the positive.

“Average bidder registrations are up, active bidders are up, auctions with no bidding have dropped quite significantly below 20 per cent and of the 222 auctions scheduled across the state for October, we are conducting 73 of them,” Mr Morris said.

“This gives us 30 per cent market share and above, keeping us right at the top of mind for anybody thinking of auctioning in South Australia.”

In Adelaide, Ray White Norwood Agent Stefan Siciliano once again proved that auction was the way to go to secure premium prices with the sale of 15 Stonewell Common, Northgate.

The Norwood agent received three offers prior to auction all within the $610,000 to $620,000 range. On the day, the five bedroom home went for an impressive $697,500 under Mr Morris’ auction hammer.

“There were 11 registered bidders with five active and after the opening bid of $580,000 it just skyrocketed from there,” Mr Siciliano said.

“The sale price went well above reserve and two of the three buyers who made prior offers registered for the auction.”

The new owners (pictured above) are a local upsizing family while the sellers are now heading to Brisbane for work.

Not to be left out, Ray White West Torrens Agent Marcus Cengarle also sold 5 Doreen St, Vale Park for $802,500 after a solid auction campaign from start to finish.

Bidding began at $650,000 and Mr Cengarle said he had six registered bidders attend the auction with four throwing their hat in the ring for the Vale Park home.

“We had a great turnout and a real mixed bag of buyers from investors to first home buyers and those generally wanting to get into a thriving area,” Mr Cengarle said.

“In the end a wonderful couple (pictured above) secured the home after half an hour of negotiations.”

Source: www.raywhite.com