Confidence in the market after rate cut

There was an air of confidence at Ray White auctions across the country today following the first rate cut in four years this week.

Ray White chief economist Nerida Conisbee said the 25 basis point cut was likely to lead to strong pricing conditions.

“Although the market slowed at the end of last year as a result of more homes coming up for sale, we had already seen signs of recovery in January,” she said.

“The downturn appears to have already been reversed and this will provide more momentum into the market.”

Ray White scheduled 524 properties to go under the hammer today, recording a preliminary clearance rate of 68.2 per cent.

Buyers were out in force today, with an average of 3.6 registered bidders and 2.5 active bidders at auctions today.

The top result for the day went to Ray White Lower North Shore agents John McManus and Liz Chen who sold 29 Neridah Street, Chatswood under the hammer for $7.01 million with eight registered bidders and three active bidders.

The top result for number of registered bidders went to Ray White Hillcrest agent Baldeep Dang who sold 11 Aurama Street, Holden Hill under the hammer for $830,000 with 16 registered bidders and five active bidders.

Ray White conducted 7,679 open homes today with more than 29,800 attendees. The open home with the most attendees was Ray White South Perth agent Jack Shaw's open home at 48 Kingston Ave, Kardinya, which saw 58 attendees.

SYDNEY

Ray White New South Wales head of auctions Perry Edmondson-Clark said the market continued to improve in 2025.

“We’ve had another weekend seeing a consecutive increase in clearance rates for the group across New South Wales, the market is off to a great start this year,” he said.

“Following the decision of the rate drop on Tuesday, buyers certainly had a heightened degree of confidence.

“All of our data is pointing to an increased amount of demand and, with a current lack of supply, it’s a great time to enter the market.”

29 Neridah Street, Chatswood

• Sold under the hammer for $7.01 million

• Lead agent: John McManus - 0425 231 131

• Ray White Lower North Shore

• Eight registered bidders, three active

“The sellers were downsizing to an apartment in Willoughby and the buyers were a local family,” Mr McManus said.

“Buyers were attracted to the size of the land and proximity to Chatswood precinct. It also had a back entry, so it was a dual frontage.”

2 Shaw Street, East Ryde

• Sold under the hammer for $3.715 million

• Lead agent: Tim Le - 0488 946 027

• Ray White Hunters Hill

• Three registered bidders, three active

“They bought it in 2015 and did a knockdown rebuild, so the home is now 7.5 years old. They have now decided to downsize,” Mr Le said.

“The buyers were a young family from the Upper North Shore.”

115 Warrimoo Ave, St Ives

• Sold under the hammer for $3.56 million - $260,000 over reserve

• Lead agent: David Beveridge - 0411 225 167

• Ray White Upper North Shore

• Nine registered bidders, five active

Mr Beveridge said the sellers were downsizing.

“The winning bid went to a couple expecting their first child in April,” he said.

“We’re finding good quality stock is selling really well and there are plenty of buyers out there.

“I think the rate cut has helped confidence and there’s obviously an air of affordability after the rate cut as well.”

10 Murrumba Place, East Killara

• Sold under the hammer for $2.784 million

• Lead agent: Jessica Cao - 0466 877 260

• Ray White Upper North Shore

• Four registered bidders, two active

“The buyers were a young couple who were upsizing from an apartment in the Lower North Shore,” Ms Cao said.

“Sellers were upsizing as they had three generations in the home and had outgrown the house.”

2 Duncan St, Punchbowl

• Sold under the hammer for $1.83 million- $230,000 over reserve

• Lead agent: John Yatman - 0423 344 868

• Ray White Punchbowl

• 14 registered bidders, four active

• Auctioneer: Alex Pattaro, Ray White NSW/ACT

The property had been in the sellers’ family for 60 years and attracted strong competition on auction day.

“We had a mix of home owners and investors and in the end an investor bought it,” Mr Yatman said.

“It was a corner block, full brick. It hadn't been touched since the 80s or 90s but it had great character and position in its favour.”

15 O’Meara St, Carlton

• Sold under the hammer for $2.08 million - $30,000 over reserve

• Lead agent: Nicholas Economos - 0409 553 555

• Ray White Rockdale

• Nine registered bidders, four active

• Auctioneer: Alex Pattaro, Ray White NSW/ACT

“Some of the bidders were investors but a lot were owner occupiers,” Mr Economos said.

“The buyers were a family with the parents and their older son buying the home together.

“The sellers were selling the home on behalf of the mother. They all grew up in the home and it had been in the family for more than 60 years.”

10 Forrest Ave, Earlwood

• Sold under the hammer for $1.95 million

• Lead agent: Kieran Gianoudis - 0412 455 581

• Ray White Earlwood | Wolli Creek

• Five registered bidders, three active

“The buyers were upsizing and moving from the inner west,” Mr Gianoudis said.

“The sellers were moving down south to Cambewarra closer to family.

“We're not seeing too much of that extra activity from the rate cut yet. I think we will need to see more cuts before it will make a big difference.”

MELBOURNE

Aboriginal and Torres Strait Islander readers are advised that this section mentions a deceased person.

Ray White Victoria and Tasmania chief auctioneer Jeremy Tyrrell said there was a sense of confidence being felt across the Melbourne market.

“Whilst it may be too early to feel the full effect of the Reserve Bank's decision to lower the official cash rate by .25 basis points, there's definitely a buzz in the air with the announcement fueling market confidence,” he said.

“Auction volume continues to build as the state's largest real estate network surpasses two hundred auctions across a week for the first time this year.

“In total there were 268 auctions scheduled for the week, an increase in volume of nearly 42 per cent year on year.

“Early reports have seen strong competition amongst buyers, with our data showing an average of 3.5 bidders across all conducted auctions and an equally strong clearance rate of 78.5 percent.

“Next week there are 304 auctions scheduled for the Ray White network in Victoria, with volume expected to increase as well as buyer demand, to round off what looks to be a strong first quarter for the real estate market.”

103 Churchill Ave, Tullamarine

• Sold under the hammer for $890,000 - $110,000 above reserve

• Lead agent/auctioneer: Malek Younan - 0411 504 016

• Ray White Gladstone Park

• Four bidders

“The sellers were ecstatic. They had purchased another property in order to upsize. They had lived there for about a decade,” Mr Younan said.

“The winning bidder was buying the home on behalf of his dad. The underbidder was a first home buyer.

“We saw market activity increasing in January. The rates are dropping which is a springboard for the market. Things are going in the right direction.”

27 Chelsworth Loop, Craigieburn

• Sold under the hammer for $786,000

• Lead agent/auctioneer: Trish Orrico - 0423 336 636

• Ray White Craigieburn

• 10 registered bidders, seven active

Ms Orrico said the auction was “insane” with the property selling “well over reserve”.

“The sellers were upsizing. It had been their family home for 16 years but they’re moving to acreage to have a bit more space,” she said.

“The winning bid went to a couple who live in the area, we’re selling their home as well.”

14 Eleanor Dr, Hoppers Crossing

• Sold under the hammer for $860,000

• Lead agent: Jeff Gaul - 0406 270 790

• Ray White Werribee

• 14 registered bidders, six active

The sellers had lived in the home for eight years and moved east for work.

“The winning bid went to a local family who were upsizing. Most of our bidders were upsizers, it’s the typical second or third home for families,” Mr Gaul said.

“It had five bedrooms and three living zones which could accommodate small growing families as well as more established families. It was also close to the local school.

“It was really popular through the whole campaign, we had more than 110 people through during the open homes.”

130 Landells Rd, Pascoe Vale

• Sold under the hammer for $1.205 million

• Lead agent/auctioneer: Stefan Stella - 0422 093 149

• Ray White Pascoe Vale

• Five bidders

A young couple of first home buyers landed the winning bid.

“It was a three-bedroom, two-bathroom, family home. There wasn’t a lot similar on the market at the moment so the sellers couldn’t have timed it better,” Mr Stella said.

“They bought the home 15 years ago. The husband dropped her off at the auction and by the time he had found a parking spot she had put her hand up and bought the home.

“They are a family of four who are moving into a side-by-side development they did with their mother.”

29 Brinkhill Dr, Mernda

• Sold under the hammer $1.005 million

• Lead agent/auctioneer: Aaron Geary - 0433 269 665

• Ray White Doreen

• Two bidders

“The underbidders were a young family, and the winning bidders were a local family who were upsizing,” Mr Geary said.

“They were attracted to the size and the fact their best friends lived across the road.

“The seller was having a sea change and moving to a small town near Yarrawonga.”

1/4 Shepherd St, Glenroy

• Sold under the hammer for $545,000

• Lead agent: Sebastian Rello - 0417 223 869

• Ray White Glenroy

• Five bidders

Bidding started at $440,000 and the property was called on the market at $510,000.

“The winning to a young couple of first home buyers on the 5 per cent buyer scheme,” Mr Rello said.

“Most of our interest was from first home buyers.

“The market has been really buoyant, if you have the right price range it will do well.”

3 Wicklow Close, Lalor

• Sold under the hammer for $1.3 million - $50,000 over the reserve

• Lead agent: Tan Nguyen (pictured above right with sellers and buyer)

• Ray White Thomastown

• Five registered bidders, four active

Mr Nguyen said the property received lots of interest with 54 inspections over the four week campaign, with the winning bid going to a home buyer.

1272 Princes Highway, Killarney

• Sold under the hammer for $473,000

• Lead agent: Monique Brooks - 0402 740 802

• Ray White Warrnambool

• Five registered bidders, three active

• Auctioneer: Harry Ponting, Ray White

The property was sold by the estate of the beloved singer, songwriter and strong First Nations activist Archie Roach AC - adding a rich cultural history to the property. Mr Roach was also well known for his philanthropy and giving back to the community.

“The property was sold to a local investor who knew Archie while he was living there,” Ms Brooks said.

“Archie’s whole family was there and they were very happy with the result.”

BRISBANE

93 Broughton Rd, Kedron

• Sold under the hammer $1.955 million

• Lead agent: Brooke Copping - 0431 067 766

• Ray White Wilston

• Five registered bidders, four active

• Auctioneer: Mitch Peereboom, Ray White Wilston

“It was sold to a family (pictured above) who have children at the local school and wanted to buy in the area,” Ms Copping said.

“The sellers raised four kids in the home and now they’ve all grown up it’s time to downsize.

“Buyers were attracted to the character of the home and the attention to detail that had gone into the renovation which was done in 2019. It had a beautiful homely feel.”

50 Emperor St, Annerley

• Sold under the hammer for $1.485 million

• Lead agent: Simon Au - 0433 221 723

• Ray White Sunnybank

• Five registered bidders, five active

“All five bidders were investors. The investor market is still really strong in the inner suburbs like Annerley,” Mr Au said.

“The winning bid went to a Sydney-based investor.

“The seller’s grandfather owned it for 30 years and the family lived in the upstairs unit and rented downstairs. They were all at the auction today and were very happy with the result.”

ADELAIDE

Ray White South Australia and Northern Territory chief auctioneer John Morris said South Australia’s auction market remained strong.

“For a very long time South Australia has seen a very consistent market, with strong clearance rates and strong bidder numbers, and it’s no surprise that Ray White continues to dominate with 40 per cent of all auction listings,” Mr Morris said.

“Ray White are the competition creators and we understand the auction method better than anyone.

“It’s no surprise that our average registered bidders are 6.3 and our average active bidders are 2.7 and that our preliminary clearance rate for this week was at 81.8 per cent.”

8 Cygnet Street, Novar Gardens

• Sold under the hammer for $1.2375 million

• Lead agent: Adam Rice - 0402 936 953

• Ray White Glenelg

• 13 registered bidders, two active

• Auctioneer: Rod Smitheram, Ray White

“The first bidder came out of the gates really strong at $1.2 million and blew everyone away. The market showed really clearly that this is a pocket everyone wants to get into,” Mr Rice said.

“It was a family home, it was constructed in 1967 and it had been in the sellers’ family since the 1970s. They were ecstatic with the result.

“The buyers were a family who had missed out on quite a few with us over the past few months, so it was great to see them win today.”