Auction volume peaks ahead of Christmas

Ray White NSW | ACT head of auctions Perry Edmondson-Clark said a mix of heavy rain and humidity certainly wasn’t ideal for today, however it didn’t dampen activity.

“There was strong competition from buyers, while sellers seemed keen to secure a pre-Christmas sale,” Mr Edmondson-Clark said.

“There were an impressive 313 scheduled auctions across the group this week with 172 of those scheduled today.

“Plenty of excitement remains in the market and both buyers and sellers should remain positive with a strong finish to 2024 expected.”

21 Karoo Ave, Lindfield

• Sold for $3.796 million - the reserve was $3.2 million

• Five registered bidders and three active bidders

• Agent: Jessica Cao

• Ray White Upper North Shore

Tightly held for 40 years, the five bedroom property was designed by Michael Dysart whose notable works include Urambi Village and Wybalena Grove. Michael Dysart is a leading practitioner of the late twentieth century Sydney regional style of architecture.

“The bidding started at $2.5 million and was slow to start, but once it got underway, the bids started coming and it flew past the reserve,” Ms Cao said.

“There were three active bidders, one was a developer but once bidding hit the $3.5 million mark, they dropped out and it was just the two bidders left going up in $1,000 bids.

“I had a mix of different buyers express interest in the home, some were owner occupiers who loved the architecture and the design, there were also investors, and developers who were drawn to the view.

“The winning bidders were owner occupiers, a young couple with children who loved the design of the house and wanted to totally restore it which made the seller very happy.”

Later in the day, Ms Cao had three registered bidders attend her auction at 17 Lamette St, Chatswood which sold for a street record of $4.543 million. Ms Cao said the successful buyers bought it because they loved the location.

266 Bridge Rd, Forest Lodge

• Sold for $2.639 million - the reserve was $2.6 million

• Five registered bidders and four active bidders

• Agents: Matthew Carvalho and George Pavlidis

• Ray White Glebe | Erskineville | Surry Hills | Alexandria

• Auctioneer: Tim Snell, Ray White NSW/ACT

“We had four active bidders and the bidding started at $2.35 million, it moved quickly up to $2.5 million then slowed a bit as two bidders pushed it beyond the $2.6 million reserve,” Mr Carvalho said.

“The buyers were a young couple with children looking to upsize, they recently sold a townhouse in Marrickville and I believe had only been looking for a few months.

“This was a good auction and showed that bigger properties offering better value are well in demand. Some strata properties have been more challenging because there’s more supply at the moment but most properties are still selling reasonably well.”

11 Blackwood St, Miranda

• Sold for $2.21 million - $110,000 above reserve

• Seven registered bidders and three active bidders

• Agents: Wendy Samrani and Joseph Alam

• Ray White Caringbah

• Auctioneer: Tim Snell, Ray White NSW/ACT

“The seller (pictured above with Ms Samrani) is moving to a retirement village, her husband built the property which has been in the same family for 40 years. She’s thrilled with the result as our highest offer during the campaign was $2.1 million but there was a lot of interest in the block from developers so we decided to take it to auction,” Ms Samrani said.

“The buyer was a developer, they’re local and have bought a few duplex sites in previous years. It’s a popular location on a blue ribbon street in Miranda, only about a five minute walk to Westfield Miranda and the local train station. It has a north facing backyard and the land size is around 830 sqm so it’s a developer’s dream.

“The bidding was slow to start, the underbidder initially wanted to start the bidding at $1.5 million but it was too low. It eventually started at $1.8 million and then went upwards of that in $25,000 increments.

“The final bid was the only bid from the successful buyer who waited until the very end of the auction to jump in.”

8 Bransgrove Rd, Revesby

• Sold for $1.666 million - $266,000 above reserve

• Nine registered bidders and five active bidders

• Agents: Anthony Roumanous and Adriana Kazzi

• Ray White Bankstown

• Auctioneer: Tony Roumanous, Ray White Bankstown

“The sellers along with friends have purchased another property in the area with plans to build their family homes together with each one taking a side,” Anthony Roumanous said.

“The buyers were a young couple moving from Marrickville. They and another bidder were going head to head with $1,000 bids from around the $1.44 million mark.

“During the campaign we had a lot of local buyers looking at the property. Being renovated and single level, it really appealed to a lot of buyers.

“There’s still a lot of buyer activity in the Bankstown market with a lot of people wanting to make decisions now rather than next year, but with Christmas around the corner there’s limited stock.”

Ray White Queensland chief auctioneer Gavin Croft said while registrations were lower than usual today, quality buyers were certainly out and about right across south east Queensland.

“There’s been some huge outcomes all around the southern parts of the state today,” Mr Croft said.

“There was interest from buyers across every tier of the market, from prestige to first home buyer stock. The affordability piece played a role for a number of first home buyers,” Mr Croft said.

“There were lower bidder registrations today but the bidders still in the market are very much wanting to secure property before Christmas.”

14 Biggs Pl, Southport

• Sold for $9.05 million

• Five registered bidders and four active bidders

• Agent: Robbie Graham

• Ray White Prestige Gold Coast

• Auctioneer: Andrew Bell, Ray White Surfers Paradise

“We sold the property to the current sellers about six years ago, they spent several years building and designing this home and are now passing it on to another family who can enjoy the wonderful riverfront living,” Mr Graham said.

“It sold for a record price for a waterfront property in Southport. It’s an iconic home on 1,200 sqm off Main River and there’s nothing else like it so it attracted a lot of attention during the campaign both locally and Australia wide.”

15 Molonga Tce, Graceville (buyers and sellers pictured above)

• Sold for $3.62 million

• Four registered bidders and three active bidders

• Agent: Douglas May

• Ray White Sherwood

• Auctioneer: Gavin Croft, Ray White Queensland

Iconic Graceville property, ‘The Gables’ went under the hammer today, selling for $3.62 million to a local family. The five-bedroom home with a two-story tower that has views to Mt Coot-Tha and the city lights, was constructed in 1915-16 on a generous 2050 sqm block by Walter Taylor. He was known for shaping many of Brisbane’s architectural landmarks, including the Walter Taylor Bridge and Graceville Methodist Church.

The name Walter Taylor is synonymous with Brisbane’s architectural heritage, and ‘The Gables’ reflects his vision and craftsmanship. Built for his wife Louisa Taylor, the home has stood as a testament to timeless design and quality construction.

“It came down to two bidders and once it was called on the market at $3.5 million, they were bidding it out together, coming down to the difference of $3,000 bids,” Ray White Sherwood principal Cameron Crouch said.

“The two bidders were both locals. The successful buyers were a young couple who live just around the corner, they bought it as a family home.

“There was quite a bit of enquiry and interest in the property because of its historic nature."

Ray White Mount Gravatt auction event

• Total sales value: $14.303 million

• Clearance rate: 73 per cent

• Total number of registered bidders: 192 registered bidders

• Auctioneers: James Austin and Grant Boman, Ray White Mount Gravatt

Fifteen properties from Brisbane’s southside went under the hammer today at Ray White Mount Gravatt’s last auction event of the year, while three sold prior to today.

The day kicked off early, with bidders and property punters being greeted by stalls run by local Mount Gravatt Central Shopping Centre businesses, including a gelato truck and bubble tea van.

The auction of 9/8 Greenmeadow Rd, Mansfield was last on the order of sale but was highly anticipated after being listed with no reserve. It sold for $407,500 after bidding started at $20,000 in front of an audience of 19 registered bidders.

Ray White Mount Gravatt sales agent and auctioneer James Austin got proceedings underway in the morning, starting with lot number one 14 Lewana St, Mansfield which sold for $1.355 million, representing a strong start to the day.

Principal and auctioneer Grant Boman later picked up the gavel for the second block of auctions, beginning with 33 Bakewell St, Mount Gravatt which quickly sold for $1.3 million.

The top sale of the day was 9 Michelle Cres, Wishart which sold for $1.631 million after the auction began at $1.3 million. The four bedroom property, which was managed by James Austin and associate Cooper McGrath, was called on the market at $1.621 million and attracted 15 registered bidders.

“It was a great event to close out 2024 with 18 on the order of sale. There was strong bidding which resulted in a healthy 73 per cent clearance rate,” Mr Austin said.

“The event attracted a huge crowd of buyers, and the auction with the most registered bidders was 33 Bakewell St, Mount Gravatt which saw 22 buyers register to bid for the four bedroom home.

“The room was electric with many buyers still wanting to compete and secure something before Christmas. Properties in the Mansfield catchment are still pulling big prices as people compete to lock in homes before the school intake next year.”

62 Burilda St, Hendra

• Sold for $2.492 million

• Six registered and active bidders

• Agents: Leigh Kortlang and Dwight Ferguson

• Ray White Metro North

• Auctioneer: David Treloar, Ray White Metro North

“We held the auction under the beautiful trees at TC Beirne Park across the street to take advantage of the sunny day,” Ms Kortlang said.

“We had good bidding, all the buyers were essentially young families. Hendra has become a young neighbourhood, everyone wants to be near the parks and good schools. The buyers were a young couple with children from out of the area.

“Homeowners are still listing even with Christmas looming. The market is strong and we’re still getting good numbers - throughout this campaign we had more than 50 groups through.”

Ray White Victoria and Tasmania chief auctioneer Jeremy Tyrrell said there were plenty of festive vibes around the suburbs this week with only two Saturday's remaining on the real estate calendar.

“After what has been one of the busiest starts to summer, auction volume is only now beginning to ramp down with 282 auctions scheduled across the state for the Ray White network,” Mr Tyrrell said.

“Buyer activity remains consistent with 2.3 active bidders on average and a jump in the clearance rate to above 73 per cent.

“The next couple of weeks should see a steady decline in auction volume, however many sellers are now holding off launching their properties, with agencies strategically looking to press the go button on January campaigns around Christmas Eve and Boxing Day.

“From all accounts, it's going to be one of the busiest Januarys for real estate on record.”

5 Parkin Ave, Cheltenham

• Sold for $1.71 million

• Three registered and four active bidders

• Agent/auctioneer: Angela Limanis (pictured above)

• Ray White Cheltenham

“The buyers only noticed the property yesterday. They were previously looking around the Mentone area but when they saw this listing they couldn’t resist looking through, saying they loved the facade and the Hamptons-esque style of the home,” Ms Limanis said.

“I had a combination of younger and older families interested in the property, it was quite a popular campaign.

“I think 2025 will be good, we already have quite a bit of stock ready to hit the market at the start of next year.”

42 High St, Coburg

• Sold for $1.215 million - the reserve was $1.05 million

• Six registered bidders and four active bidders

• Agents: Raphael Calik-Houston and Nazih Abbouchi (auctioneer)

• Ray White Coburg

“We had a range of buyers, there were builders and developers along with mostly second homeowners looking for something that next level up, something with a bit more room and land that has renovation potential. It also has laneway access which is good for duplexes,” Mr Calik-Houston said.

“We’re finding house and land is still going quite well at the moment, they are mostly selling under the hammer but there has been a shift in the market which I’d probably say is more stable now than previously.”

Ray White South Australia chief auctioneer John Morris said while many people will start putting their feet up and relaxing into the holidays, the auction agents of South Australia are doing nothing of the sort.

“We’re going full steam ahead into the festive season with 220 auctions scheduled for this week throughout the whole of the state and 105 of those being Ray White auctions, giving us a 47.7 per cent share for the week,” Mr Morris said.

“The preliminary clearance as we go into the week is 77.3 per cent, while 91.5 per cent of auctions are getting bidding on the day. And while bidder numbers have dropped to 4.3 registering, the bidder activity has stayed strong at 2.6 bidders participating per auction.

“It’s still an extremely strong market as it has been all year, and it looks like we’re going to go into the Christmas break with a very resilient South Australian market.”

During the week, Mr Morris conducted two standout auctions for the group. No. 40 Frost St, Newton (pictured above) sold for $1.887 million with a $1.75 million reserve, as five of the 15 registered bidders actively participated. The sale of the four bedroom Newton home was managed by Ray White Kensington’s Tim Knowling and Andrew Welch.

Meanwhile, Justin Irving of Ray White Salisbury took 11 Panto Ave, Paralowie to auction on Thursday, attracting 25 registered bidders and selling the property for $686,000 - $136,000 above reserve.

2/2 Janet St, Evandale

• Sold for $1.32 million - the reserve was $1.298 million

• Seven registered bidders and three active bidders

• Agents: David Scalamera and Juan Gaviria

• Ray White Magill

• Auctioneer: Sam Grover, Ray White SA

Co-agent Juan Gaviria commented on the sale on behalf of lead agent David Scalamera who had a good excuse for not attending the auction after his wife went into labour with their first child earlier in the morning.

“We had a good amount of interest throughout the campaign. The winning bidder and the underbidder were both the keenest the whole way through the campaign,” Mr Gaviria said.

“It showed in their bidding today, we paused the auction half way through to negotiate and when it was called on the market, the two bidders then increased their bids by $10,000 each in an effort to secure the property.

“The underbidder was a downsizer while the winning bidder was a young couple with children who live locally.

“It definitely depends on the stock at the moment, we’re noticing that anything overpriced is sitting there longer than it should but anything well priced like today is flying out the door.”