Buyers eager to purchase before Easter

Australasia’s largest real estate group had 431 properties scheduled to go under the hammer today, recording a preliminary clearance rate of 74.1 per cent, with an average of 3.8 registered bidders and 2.7 active bidders per auction.

Properties which sell under the hammer today achieved premiums an average of 10.44 per cent higher than the highest offer received prior to auction.

The top result for the day went to Ray White Upper North Shore agent Jessica Cao who sold 78 Koola Avenue, East Killara under the hammer for $3.95 million with three registered and three active bidders.

The auction with the highest number of registered bidders went to Ray White Rochedale agent Anton Silaen who saw 33 registered and six active bidders at their 25 Othello Street, Sunnybank Hills auction. The property was sold under the hammer for $955,000.

Ray White conducted 7,531 open homes nationally today, with 25,573 attendees. The home with the most attendees was at 12 Gibson Street, Annerley, which saw 58 attendees. The property is being marketed by Ray White West End agent Michael Nolan.

New South Wales

Ray White NSW head of auctions Perry Edmondson-Clark said the first weekend of trading for April had produced some strong results.

“Across the state, Ray White NSW | ACT had 258 auctions scheduled this week, up an impressive 21 per cent on the same time last year,” he said.

“Our six week clearance remains strong at 73.6 per cent, but it is important to note average registrations are now circa 3.7 per auction versus 4.4 this time last year.

“Given the increase in stock availability this is normally and totally expected.

“Based on this, sellers who set their expectations based on realistic market feedback and netting the best results under the hammer.”

78 Koola Avenue, East Killara

• Sold under the hammer for $3.95 million

• Lead agent: Jessica Cao - 0466 877 260

• Ray White Upper North Shore

• Three registered bidders, three active

“The winning bid went to a family from Concord,” Ms Cao said.

“They were looking at the north shore for a while but they were quite particular. So they’re very happy to purchase something here today.

“The sellers had been in the house for 21 years and they’re now downsizing at the lower north shore to a smaller property which will be easier to look after.”

9 Caroline Street, Earlwood

• Sold under the hammer for $1.154 million

• Lead agent: Kieran Gianoudis - 0412 455 581

• Ray White Earlwood|Wolli Creek

• 10 registered bidders, four active

• Auctioneer: Alex Pattaro, Ray White

“The seller has lived there for more than 25 years, she’s relocating north to be closer to family,” Mr Gianoudis said.

“The winning bid went to a first home buyer who had been looking for a while. They were originally looking at the inner west but the market pushed them out to Earlwood.

“We had a few builders, a few first home buyers, and a couple of upsizers bidding.

“The market has been surprisingly quite busy in the lead up to Easter.

“The interest rate drop hasn't done too much yet, but it has given a confidence boost to buyers knowing the market is going in the right direction. They anticipate prices to go up so they want to get in now.”

4 Calabria Street, Prestons

• Sold under the hammer for $1.59 million

• Lead agent: Adrian Bonino - 0414 899 905

• Ray White Green Valley

• 13 registered bidders, seven active

• Auctioneer: Tim Snell, Ray White NSW CEO

Bidding opened at $1.2 million.

“Most of our bidders were families. The buyer bought it for his son and daughter in-law as he lives in the area and wanted them to be close by,” Mr Bonino said.

“The sellers were downsizing, they built the home 14 years ago.”

He said the market had been active in the lead up to Easter.

“There’s lots of buyers out there but we’re still struggling with stock.”

204 Young St, Annandale

• Sold under the $1.905 million

• Lead agent: Tina O'Connor - 0420 547 655

• Ray White Inner West

• Five registered bidders, four active

“It was mostly young couples bidding and the winning bid went to a first home buyer from Mosman (pictured above),” Ms O’Connor said.

“The sellers were three siblings who owned it together as an investment property.

“We’ve had great success at auction this week, but it is starting to slow down now as stock dries up before Easter.”

7 Dudley Street, Auburn

• Sold under the hammer for $3.215 million

• Lead agent: Sezer Yunus - 0431 264 472

• Ray White Auburn

• Six registered bidders, four active

• Auctioneer: Bryce Bevan, Ray White

The property sold for a suburb record.

“The home had been in the seller’s family for 30 years, and they raised their family there but are now downsizing,” Mr Yunus said.

“The winning bid went to a young local family who were upsizing.”

31 Salamander Grove, Baulkham Hills

• Sold under the hammer $2.78 million

• Lead agents: Leah Li and Christian Fogarty

• Ray White Castle Hill

• 11 registered bidders

Ray White Castle Hill managing director Phil Kelly said the sale price broke the street record by $250,000.

“The success of the auction can be attributed to the outstanding presentation of the home and the agents’ strategic campaign,” Mr Kelly said.

“The team worked extremely hard throughout the past few weeks and the result reflects that.”

Victoria

Ray White Victoria and Tasmania chief auctioneer Jeremy Tyrrell said there was still plenty of auction activity in Melbourne in the lead up to Easter.

“Thankfully President Trump hasn’t placed any tariffs on real estate in Australia, as the property market continues to perform well amid a high volume of listings,” he said.

“This week the Ray White network in Victoria had 197 auctions scheduled with 70.3 per cent selling under strong buyer competition.

“There were some big results being reported, indicating that when all the essential ingredients are there (presentation, location, value and realistic expectations) the outcome can be truly amazing.

“As we move into the Easter school holiday period, volume will start to decline over the next few weeks, which may prove lucrative for those on the market as buyer demand remains strong.”

57 Woodlands Grove, Frankston

• Sold under the hammer for $1.212 million

• Lead agent: Brooke Wegener - 0448 382 643

• Ray White Frankston

• Five registered bidders, four active

• Auctioneer: Jeremy Tyrrell, Ray White

“The buyers were a local couple who were upsizing from a townhouse. Most of the bidders were young families also looking to upsize,” Ms Wegener said.

“The sellers were also upsizing. They were a family who had outgrown the home.

“The market seems to be picking up recently. Homes which are nicely presented, in great locations, and are marketed well are seeing really great results.”

6/32 Collins Street, Mentone

• Sold under the hammer for $519,000

• Lead agent/auctioneer: Kevin Chokshi - 0430 195 517

• Ray White The Bayside Group

• Three bidders

“The sellers were a brother and sister who owned the property as an investment, it had been in their family for a long time. They had done a lot of renovations to it and it was very well looked after,” Mr Chokshi said.

“We had about 45 groups inspect the property throughout the campaign, which is a lot for a one-bedroom.

“Bidding started at $440,000 and it was called on the market at $500,000.

“A first home buyer (pictured above) who had been looking for about 12 months bought it, which was a great result.”

13 Ray Street, Pascoe Vale

• Sold under the hammer for $1.525 million

• Lead agent: Ricardo Rodrigues - 0407 806 893

• Ray White Pascoe Vale

• Six bidders

• Auctioneer: Stefan Stella, Ray White

The home had been in the sellers’ family for 57 years.

“The buyers were a local family who are upsizing, and planning to do a renovation,” Mr Rodrigues said.

“It was a good sized block in the Strathmore Secondary School zone.

“The house had really good bones, there was lots of potential there.”

Queensland

Ray White Queensland chief auctioneer Gavin Croft said Brisbane had seen lower auction volumes today as a result of the aftermath of ex-tropical cyclone Alfred.

“Ray White Queensland finished March with 555 auctions for the month, with an average of 4.9 registered bidders per auction, of which 3.1 were active,” he said.

“Six in every 10 of those 555 auctions sold under the hammer on or before 21 days on the market, with 92.9 per cent of all auctions recording active bidding.

“Considering we lost a weekend of auctions in March due to the weather events caused by ex-tropical cyclone Alfred, it is a statement as to the resilience of the Brisbane and south east Queensland market.

“Given this weekend represents four weeks since the Brisbane cyclone event, we always anticipated this weekend would be softer for auction volume, as many people’s launch date to the market would have been pushed back.

“So off the back of those softer auction volumes and steady demand, we have seen plenty of bidding today right across Brisbane. It represented a great opportunity for sellers today to experience the strength of the market in real time.”

Ray White Collective saw eight properties sold under the hammer at their in-room auction event at the Calile today.

“We had some strong sales across different price points, with both the unit market and the prestige market performing well,” Ray White Collective principal and auctioneer Haesley Cush said.

Mr Cush said the Spring Hill market had seen particularly strong activity, with 342/51 Hope Street, Spring Hill, selling for $810,000 and 32/41 Fortescue St, Spring Hill, selling for $880,000.

“Spring Hill performed well this week after the announcement that the new National Aquatic Centre and precinct will be built in Spring Hill for the 2032 Olympics,” he said.

“This injected more confidence into that market with 10 registered bidders seen on both Spring Hill properties today.

25 Othello Street, Sunnybank Hills

• Sold under the hammer for $955,000

• Lead agent: Anton Silaen - 0402 384 367

• Ray White Rochedale

• 33 registered bidders, six active

• Auctioneer: Phil Parker, Ray White

“The majority of bidders were first home buyers but the winning bid went to an investor (pictured above),” Mr Silaen said.

“The seller was an investor and it had been rented for a long time. The home had been left in quite a bad state so the vendor decided to sell.

“Buyers were interested in the location exclusively. Half of the bidders wanted to knock down and rebuild.

“People came with the assumption it would sell around $850,000. There were 27 bids in three minutes from the opening bid of $500,000, then bidding slowed down around the $850,000 mark.”

30 Angliss Street, Wilston

• Sold under the hammer for $3.825 million

• Lead agent: Alistair Macmillan

• Ray White Wilston

• Three registered bidders, two active

• Auctioneer: Mitch Peereboom, Ray White

“The buyers were a couple who had recently sold in Clayfield and wanted a renovated turn key home,” Mr Macmillan said.

“The sellers bought the property a few years ago and underwent an extensive renovation. They have now bought a bigger block in Windsor and will do another renovation on that property.

“It’s a funny market at the moment. There’s still plenty of buyers about but we have to work hard to get them engaged and prepared for auction. But we’ve still seen some fantastic results including this one today.”

South Australia

Ray White South Australia and Northern Territory chief auctioneer John Morris said Adelaide's property market was still strong despite price growth easing.

“Over the past few months in South Australia we have seen the slowest price growth in many months if not years,” he said.

“That might be something to do with the fact that we are between 17-20 per cent up on volume of listings, but we are still see really strong numbers when it comes to auctions.

“We’re still seeing 5.2 registered bidders per auction, with 2.8 of those participating, and we’re still seeing clearance rates between 71-74 per cent.

“So the buyers are still turning out, but they do seem to have a little bit more choice now, and that may be contributing to the slow growth, but it is still growing. We are still in an extremely strong market in South Australia, one of the strongest in the country.”

28 Heatherbank Terrace, Stonyfell

• Sold under the hammer for $1.43 million

• Lead agent: Brandon Pilgrim - 0438 807 061

• Ray White Burnside

• Six registered, four active

• Auctioneer: George Kargiotis, Ray White

The home had been in the seller’s family for more than 40 years.

“Buyers were young families and renovators. The winning bid went to a young local family,” Mr Pilgrim said.

“It was a good land allotment in a good location. It was a cool, retro, 60s house with lots of potential that people were attracted to.

“We’ve sold three out of four properties under the hammer today with about five registered bidders There’s still plenty of competition and buyers willing to purchase.”

56A Radstock Street, Woodville Park

• Sold under the hammer for $880,000

• Lead agent: Nick Borrelli - 0432 270 893

• Ray White Campbelltown

• Four registered bidders, three active

Mr Borrelli said it was a one-owner home which had been in the vendor’s family for 42 years.

“It was bought by a first home buyer who has moved to South Australia from NSW for work,” he said.

“We had two upsizers, an investor, and a first home buyer bidding.

“The market seems to be slowing a little bit in the lead up to Easter, there’s a few less buyers around.

“We’re still getting good results, just having to work a little bit harder.”

14 Kirby Street, Greenacres

• Sold under the hammer for $896,000

• Lead agent: Stefan Siciliano

• Ray White Prospect

• Nine registered bidders, seven active

• Auctioneer: John Morris, Ray White

“We had a lot of interest from young families as the home backed onto a park and it was in a nice quiet location,” Mr Siciliano said.

“The winning bid went to a young family of first home buyers with one child.

“The seller bought the home in the early 2000s and had it as a rental. When the tenants moved out he did a massive renovation which paid off at auction today.

“Bidding started at $600,000, and after a massive 117 bids it sold under the hammer for $896,000.”

1/44 Myall Ave, Kensington Gardens

• Sold under the hammer for $665,000

• Lead agent: Chris Xu - 0433 770 616

• Ray White Adelaide City

• Four registered bidders, two active

“The buyer was a neighbour who lives on the same street. She bought it for her son as an investment,” Mr Xu said.

“The seller is from Brisbane. It was an investment property for her.

“The market in Adelaide is still going really well, there’s plenty of buyers but very limited stock.”

Western Australia

Ray White Western Australia CEO and auctioneer Mark Whiteman said there was really strong bidding at all Ray White’s auctions in Western Australia today.

“There are 5087 properties available for sale in ePerth at the moment which is tight, and because of that lack of supply we’re seeing more buyers competing for less stock,” Mr Whiteman said.

“Auction allows that natural competition to take place and we saw that today. It’s good selling conditions in WA which is leading to great results at auction.”

21 Bramley Loop, Madeley

• Sold under the hammer for $1.29 million

• Lead agent: Alana Foley - 0477 319 004

• Ray White Dalkeith | Claremont

• 12 registered bidders, five active

There were 19 bids in total with the property selling for a suburb record.