Buyers out in force as spring approaches

The Ray White Group scheduled 461 properties to go under the hammer today, recording a preliminary clearance rate of 65.8 per cent.

Buyers were out in force today, with Australasia’s largest real estate seeing an average of 3.8 registered bidders and 2.4 active bidders per auction.

The top result for the day went to Ray White Upper North Shore agent Coco Cui Roskam who sold 15a Lennox Street, Gordon under the hammer for $10.88 million.

The auction with the highest number of bidders went to Ray White Campbelltown agent Amber Roantree who recorded 30 bidders at the 1-6/22 Freeman Avenue, Tranmere auction. The block of units sold under the hammer for $2.02 million to an investor.

SYDNEY

Ray White NSW head of auctions Perry Edmondson-Clark said the NSW market was showing signs of strength.

"It was another strong weekend of auction volume across the state with 181 auctions scheduled today," Mr Edmondson-Clark said.

"We recorded 3-4 bidders on average, we are seeing average registrations fall slightly due to the higher volume of stock available. It is the registered bidders that are showing up who are strong and keen to transact.

"Auction day prices remain the best in the market and the competition of an auction is unmatched.

15a Lennox Street, Gordon

• Sold under the hammer for $10.88 million

• Lead agent: Coco Cui Roskam - 0422 683 409

• Ray White Upper North Shore

• 28 registered bidders, five bidders

The sale broke a record for a new-build without a tennis court on the upper north shore.“It was a really amazing auction,” Ms Cui Roskam said.

“We had 150 groups come through throughout the campaign and we issued 80 contracts.

“We had two bids to $8 million then one bidder jumped straight to $9 million. Then two bidders fought it out to $10.88 million.

“The buyers are a family who live in Killara and wanted a brand new home to live in.

“The seller was a builder who designed and built the home. This is the second time the builder has held the record for a home without a tennis court on the upper north shore.”

189 Wigram Road, Forest Lodge

• Sold under the hammer for $2.8 million

• Lead agent: Matt Carvalho - 0404 006 744

• Ray White Glebe

• Two registered bidders, two active

• Auctioneer: Tim Snell, Ray White

Mr Carvalho said bidding started at $2.2 million and went up in increments of $100,000.

“It sold well above reserve,” Mr Carvalho said.

“It was a really nicely renovated four bedroom house.

“The buyers (pictured above) were a local family upsizing and the underbidders were a local couple upsizing.

“The sellers were a family with three children and they were looking to upsize, they’ve had it for a while and renovated it in 2018.”

9 Barker Street, Kensington

• Sold under the hammer for $4.21 million - sold for $1.01 million over reserve

• Lead agent: Roger Wardy - 0481 355 493

• Ray White Touma Group

• Nine registered bidders, four active

“The winning bid went to two brothers who intend to renovate and live in it. All the bidders were owner occupiers,” Mr Wardy said.

“It was right next to the university and had great proximity to transport. But it was a 60-70s build so it needed some work.”

30 Park St, Collaroy (buyers pictured above left with seller, right)

• Sold under the hammer for $2.33 million - $130,000 over reserve

• Lead agent/auctioneer: Brian Fairweather - 0402 938 870

• Ray White Narrabeen

• Six registered bidders, three active

Mr Fairweather said it was a very competitive auction with 27 bids in total after bidding opened at $1.8million.

“The buyers were a young couple from the south coast and moving to the northern beaches. They were the opening bidders and took it all the way through to the end,” Mr Fairweather said.

“It’s a fairly unique place with a big block. It had ocean views from the beautiful old 1950s house.

“The vendor paid $260,000 for it about 30 years ago with the intention of doing it up, but she never got around to it.

“So a new generation has taken it over and will renovate it to be a beautiful family home.”

MELBOURNE

Ray White Victoria chief auctioneer Jeremy Tyrrell said auction volume was picking up with 199 auctions scheduled this week across Victoria as we move closer to spring.

“This week however, we’ve seen a slight correction in bidder activity and clearance rates, with nearly 60 per cent of auctioned properties selling,” Mr Tyrrell said.

“Buyers are definitely active as the average number of active bidders held at a consistent average of two per auction, the sale, however, for most rests solely with the vendor.

“Even with this slight correction, it’s not alarm bells for the Victorian real estate market, but it does reinforce the importance of choosing the right method of sale, with days on market for auction over the last sixty days at 29 on average, versus 43 for private sale.”

28 Mason St, Hawthorn

• Sold under the hammer for $3.851 million

• Lead agent: Rene Mawad - 0403 141 596

• Ray White Ferntree Gully

• Six registered bidders, three active

• Auctioneer: Andrew Martin, Ray White

“The sellers were renting for three years down the road and moved their furniture here in a trolley when they bought it 47 years ago,” Mr Mawad said.

“The winning bid went to a young family who were purchasing for the location”

4 Harry St, Brunswick West

• Sold under the hammer for $2 million

• Lead agent/auctioneer: Jamil Allouche - 0410 415 197

• Ray White Brunswick

• Five bidders, four active

“All our bidders were young families. The family who landed the winning bid had sold their place and were looking to upsize. They opened the bidding and bid fiercely to the end,” Mr Allouche said.

“The sellers lived across the road and saw this come up for sale 22 years ago. They tore down the home and built their dream home. They then moved interstate so it’s now time for them to let it go.

“It was a beautiful floor plan, north facing, and had a lovely alfresco area with a pool and spa which appealed to a lot of families.”

41 Golf View Rd, Heatherton

• Sold under the hammer $1.055 million

• Lead agent/auctioneer: Angela Limanis - 0414 664 374

• Ray White Cheltenham

• Three bidders

“The winning bid went to a couple who are knocking down their own home to build their dream home so they needed somewhere else to live. They felt buying was better than renting,” Ms Limanis said.

“It was a deceased estate and the sellers were two brothers selling their parents’ home which had been in the family for about 40 years.”

BRISBANE

Ray White Queensland chief auctioneer Gavin Croft said the Brisbane market was starting to shift.
"A real obvious change is just starting to emerge. The supply and demand equation is starting to noticeably shift where there is more choice for buyers," Mr Croft said.
"Sellers need to be cognisant of these changes. Sellers need to adjust their expectations and good sales will happen.
"There are still buyers willing to bid and buy at auction."

Ray White Collective had an auction event at the Calile Hotel today with 21 lots going under the hammer. The event saw more than $19 million in property sold under the hammer.

The top result went to Ray White Collective selling principal Matt Lancashire who sold 1031 Brunswick Street, New Farm, under the hammer for $5.901 million with 15 registered bidders and 10 active bidders.

“Bidding opened at $4 million and ran in $250,000 bids to $5 million, then we saw all kinds of bids right up to $5.901 million,” Mr Lancashire said.

“It’s New Farm riverfront, entry level into the riverfront. There’s only 60 houses between New Farm and Teneriffe on the riverfront and only 13 with direct access to the river with no board walks or anything, and this was one of them.

“It needed a little bit of work which allowed people to put their own stamp on it.

“We had a mix of right sizers with one or two kids, and some downsizers, but the winning bid actually went to a young person who had wanted New Farm riverfront for a while.”

Mr Lancashire said the sellers had lived there for 20 years and were downsizing to an apartment.

8 Shottery Street, Yeronga

• Sold under the hammer for $1.215 million

• Lead agent: Meaghan Bakker - 0414 809 823

• Ray White New Farm

• 19 registered bidders, four active

• Auctioneer: Haesley Cush, Ray White

“It was a sweet spot in the market. The bidders were all young couples and young families looking for something they can renovate,” Ms Bakker said.

“The winning bid went to a young family who were renting in the same street. They intend to move in and renovate.

“The owner was a single gentleman who had lived there his whole life but had never done any renovations, so it was completely original. Sadly he passed away, but the family were there today and were very happy with the result.”

ADELAIDE
Ray White South Australia chief auctioneer John Morris said it had been a record breaking August for Ray White South Australia.

“We often hear agents talking about spring selling season or super Saturday or other peak times when you should sell your homes. Currently in South Australia we are technically off-peak, but we are definitely on-point when it comes to auction metrics,” Mr Morris said.

“Our preliminary clearance rate for the week as we enter the weekend currently sits at 89.5 per cent, with an average of 7.3 registered bidders.

“Our auctions are down week-on-week, with 58 scheduled, but we are up by 32 per cent year-on-year.

“While we sit just under 40 per cent of auctions waving the yellow flag, we are having a record breaking August with 311 auctions scheduled so far.”

35 The Walk, Mawson Lakes

• Sold under the hammer for $2.3 million - $200,000 over reserve

• Lead agent: Justin Irving - 0412 289 674

• Ray White Salisbury

• 23 registered bidders, five active

• Auctioneer: John Morris, Ray White

6 Undelcarra Rd, Burnside

• Sold under the hammer for $2.11

• Lead agent: Brandon Pilgrim - 0438 807 061

• Ray White Burnside

• Four registered bidders, three active

• Auctioneer: Sam Grover, Ray White

“A local family landed the winning bid. All of the bidders were families, it was a real family home,” Mr Pilgrim said.

“The sellers owned the home for about 25 years, it was their family home, and now they are downsizing.”

9 Arrow Avenue, Banksia Park

• Sold under the hammer for $785,000

• Lead agent: Brijesh Mishra - 0430 140 905

• Ray White Para Hills

• Three registered bidders, three active

• Auctioneer: John Morris, Ray White

“The buyer was a first home buyer about to get married. All our bidders were first home buyers,” Mr Mishra said.

“The sellers (pictured above) were investors who were selling in order to slow down.

“It was in a good location and was very well presented.”

PERTH