First day of autumn delivers outstanding results

Ray White NSW & ACT head of auctions Perry Edmondson-Clark said the momentum in the market was certainly continuing, with buyers very eager to secure a property in autumn.

“Early signs are showing we will see a dip in availability of stock in the coming months, meaning for any sellers considering coming to market this year, now would be a great time to pull the trigger,” Mr Edmondson-Clark said.

“Real estate is a supply and demand business, so to come to the market now and sell with a degree of isolation, will see buyers compete and great prices achieved.”

19 Malvern Avenue, Roseville

• Sold under the hammer for $4.98 million (reserve was $4.65 million)

• Two registered bidders, both active

• Lead agent: Jessica Cao - 0466 877 260

• Ray White Upper North Shore

Jessica Cao said two bidders was all you need to create competition.

“We had a third bidder who pulled out at the last minute but in the end the winning bidder was a young couple. It is not their first home, they are upgrading from an apartment,” Ms Cao said.

“The sellers are another family, and the house was a little small for them; although they loved the location and the style. They ended up buying a bigger home as an investment a few years ago, which they are moving into now.”

Ms Cao commented that the market was a bit hard to pick at the moment in Sydney.

“There are a lot more transactions happening in the marketplace, it is essential that sellers and agents position the properties correctly though.

“March is our last selling month before Easter holidays, so it will be interesting to watch what happens in March with the higher volumes.”

92 Hewlett Street, Bronte

• Sold under the hammer for $3.825 million (reserve was $3.1 million)

• 12 registered bidders, six active

• Lead agent: Nick Wiggan - 0476 239 329

• Ray White Eastern Beaches

• Auctioneer: James Hayashi, Ray White

Nick Wiggan said the winning bidder was someone relocating from Melbourne who had only seen the property today for the first time.

“She found it at the last minute and gave me a call last night; we took her through it this morning before the auction,” he said.

The seller was a 93 year old woman who lost her husband 20 years ago. She has 22 nieces and nephews and no children of her own.

“She’s moving to a nursing home and her niece was acting on her behalf. They are a very close family and were all over the moon with the result,” Mr Wiggan said.

“They built this home themselves 70 years ago and were very well loved by the neighbours, which meant that 50 people came to watch the auction.”

47 Aldebaran Street, Cranebrook

• Sold under the hammer for $815,000 (reserve was $756,000)

• Seven registered bidders, six active

• Lead agent: Jasmyn Calgaro - 0481 230 228

• Ray White Nepean Group

• Auctioneer: Max Nell, Ray White NSW/ACT

Ms Calgaro said the winning bidders of this mortgagee in possession sale were a retiring couple who were looking to flip a property.

“They only saw the property on Wednesday and thought it was perfect.They will then either rent it out or sell it,” she said.

“The market is great here; we don’t do many auctions but I was thrilled at how many people came to bid and onlook today.”

“I have made 15 sales in February alone, which shows how busy we are. The interest rates have not had a huge effect on price yet, but we are noticing some more confidence returning,” Ms Calgaro said.

19 Lindsay Street, Burwood

• Sold under the hammer for $3.31 million

• Nine registered bidders, four active

• Lead agent: Spiro Mavridis - 0401 426 636

• Ray White Zoom Group

• Auctioneer: Perry Edmondson-Clark, Ray White NSW/ACT

Mr Mavridis said that the five-week campaign drew in huge interest due to the property’s large land parcel.

“It was tricky because the home needed to be gutted and had some structural issues.

“The winning bidder sold his home in Strathfield and wants to move into Burwood. He is keen to restore a large home for him and his family,” he said.

The home had been in the same family for 47 years, and they have relocated to Nowra.

“It was emotional and tough for them after being in the property for so long. They were over the moon with the result,” he said.

17 Monahan Avenue, Banksia

• Sold under the hammer for $1.81 million (reserve was $1.4 million)

• 13 registered bidders, five active

• Lead agent: Nicholas Economos - 0409 553 555

• Ray White Rockdale

• Auctioneer: Alex Pattaro, Ray White NSW/ACT

Mr Economos said that the home had a lot of character and charm, with great street appeal. “Even though it was old and needed a facelift, a lot of people saw the potential. It was also in a nice quiet cul-de-sac,” he said.

The winning bidders were a couple who are renting in the Coogee area, and they are planning to renovate the home.

“It was owned within the same family for over 80 years and they were absolutely shocked and delighted with the result today.”

31-31A Fischer Street, Kingsford

• Sold under the hammer for $4.65 million (reserve was $4.3 million)

• Four registered bidders, three active

• Lead agent: Roger Wardy - 0481 355 493

• Ray White Touma Taylor Group

Mr Wardy said this property was initially listed in October last year.

“This was on the market longer than expected, so we dropped the guide by $750,000. When we took the property to market, buyers realised that the block was quite restrictive so the owners needed to drop their price,” he said. The winning bidder bought the home for their family members to move into. The sellers are two brothers who sold to buy separate properties.

Ray White VIC/TAS chief auctioneer Jeremy Tyrrell said that auction volume surged to a year high this week, amid growing buyer confidence as banks began to pass on the rate cuts.

“This week, the Ray White network across Victoria had 305 auctions booked, with almost a third conducted mid-week, as in-room auction events featured on most nights around the state,” Mr Tyrrell said.

“The average number of bidders recorded across all auctions peaked at four, an increase of nearly 10 per cent year on year, indicating that confidence is up and buyers are on the hunt.

“Competition was strong at auction, as the state recorded a clearance rate of 70 per cent for the week. All signs are pointing towards a strong end to the first quarter for the real estate market in 2025.”

58 Edward Street, Macleod

• Sold under the hammer for $1.361 million (reserve was $1.13 million)

• Four bidders

• Lead agent: Brett Schembri - 0402 218 026

• Ray White Macleod

• Auctioneer: Andrew Freeman, Ray White VIC/TAS

Brett Schembri described it as a “good home in a great street” in Macleod and said there had been a lack of homes like these available in the past 12 months.

“There have been plenty of townhouses and units but not these big family homes like this one,” he said

The winning bidders were a young first home buyer couple, and all bidders were of the same demographic.

“It was incredibly emotional for the family who have owned this home since 1954; the elderly mother has gone into full time care,” Mr Schembri said.

5 Nola Court, Croydon

• Sold under the hammer for $880,000 (reserve was $850,000)

• Five bidders

• Lead agent/auctioneer: Chris Watson - 0406 003 856

• Ray White Ringwood

Chris Watson said the winner bidders were a young, first home buyer family who had been searching for a few months.

“We had really decent numbers with around 40 groups; there were five bidders there and three were active.

“The buyers were a mix of young families and developers. Structurally the house is great, but needs a bit of a facelift which is what the buyers plan to do.

“The market has been really hot in the past three weeks. I just set a record for the most expensive townhouse sold in the Ringwood area in the last 18 months. The uptick happened around three weeks ago since there has been talk of a rate cut.

“Time will tell whether it was a sugar hit or whether it is a sign of good things to come in Melbourne,” Mr Watson said.

26 Barter Crescent, Forest Hill

• Sold under the hammer for $1.304 million (reserve was $1.2 million)

• Six bidders

• Lead agent/auctioneer: Hugh Francis - 0401 265 338

• Ray White Forest Hill

Hugh Francis said that the winning bidder was a family from Vermont, with two young children.

“The home had never been sold; the owner passed away last year and I was selling on behalf of her three children. She built it 58 years ago and had lived there ever since,” he said.

Mr Francis also went on to sell 57 Lee Ann Street in Forest Hill for $1,226,000 with six bidders.

“After two incredible auctions today, we are seeing a lot of confidence returning to the market. These properties were both 1960s and unrenovated. People seem to be showing more confidence with spending, with the understanding that finance is going to get cheaper,” Mr Francis said.

2/18 Merbein Street, Pascoe Vale

• Sold under the hammer for $847,000 (reserve was $800,000)

• Five bidders

• Lead agent: Iby Ramaihi - 0414 798 229

• Ray White Coburg

• Auctioneer: Nazih Abbouchi, Ray White Coburg

Mr Ramaihi said the eventual buyer came out with a huge bid to start with of $750,000 which knocked out most other bidders.

“She has been in Melbourne for 10 years, she is Irish and is a first home buyer. She has been looking since November and saw the home this week,” he said.

“The seller owned the whole block and then subdivided it. He has been living in this particular unit for four years and now he is upsizing.

“The market is feeling stronger than it was in late 2024, with a bit more confidence. We had over 80 groups come through during the campaign,” Mr Ramaihi said.

Ray White Queensland chief auctioneer Gavin Croft said that elections have a way of playing with confidence and creating uncertainty.

“We are sensing this, with some sellers holding back. Auction volume is slightly down, which has created opportunities for those currently in the market.

“There was some impressive depth across all price points today, from entry level units to above $4 million.

“When sellers are seeking prices 10 per cent or more in excess of market value, we are finding that buyers are moving on to the next option," he said.

31 Mayfield Street, Ascot

• Sold under the hammer for $4.011 million

• Three registered bidders, all active

• Lead agent: Damon Warat - 0413 200 063

• Ray White Ascot

• Auctioneer: Phil Parker, Ray White

Alexander Shean of Ray White Ascot said all the bidders for this home were local families. The winning bidders lived in the next street over and were looking to upgrade.

“We sold this home to the sellers 10 years ago almost to the day. They have loved it as their family home. They have bought another property in the area,” Mr Shean said.

“The market is very busy, with strong numbers at auctions. The $3-5 million bracket is very hot, and we have a plethora of buyers looking in this area.”

104 Kenna Street, Aspley

• Sold under the hammer $1.505 million

• Four registered bidders, three active

• Lead agent: Sonya Treloar - 0424 514 404

• Ray White Bridgeman Downs

• Auctioneer: Phil Parker, Ray White

Ms Treloar said the winning bidders were a young couple; it was their first home and their families were all there to support them.

“The sellers bought it a few years ago when they had two children, and ended up having a third. They need something a little bigger now and will be looking for their next home,” she said.

Ms Treloar commented that the market was currently hard to place in Brisbane.

“We just had 41 groups through one house today, and only two groups at another. Overall, there are a lot of buyers looking and a little less stock available.”

Ray White South Australia chief auctioneer John Morris said that with summer coming to an end, it has been an incredible month for auctions in South Australia.

“We are entering mad March which is always a crazy time in and around Adelaide,” he said.

“Last month we saw almost 300 auctions scheduled, with 250 going ahead. 74.2 per cent of those auctions sold, with average registered bidders sitting at 5.3.

“A huge 95 per cent of all auctions had bidding, and sellers netted 11.1 per cent more on auction day than highest offers prior.

“We are in an extremely strong position here in South Australia; we are still getting plenty of first home buyers, investors coming along to bid. Ray White had 42.7 per cent market share of auctions this week alone,” Mr Morris said.

2B Tippett Avenue, Marden

• Sold under the hammer for $1.59 million

• 14 registered bidders, four active

• Lead agent: Damien Fong - 0403 257 665

• Ray White Burnside

• Auctioneer: George Kargiotis, Ray White

Mr Fong said that a few bidders came in really strong to knock out the rest of the bidders, with bidding kicking off at $1.3 million. There was a crowd in excess of 100 at the auction.

“The winning bidder was an Australian moving back from England and had been living with her Mum,” Mr Fong said.

“The market is hard to pick; there are particular properties that are doing well, and others that are light on, in comparison to this time last year.”

17 Kingston Parade, Lightsview

• Sold under the hammer for $1.57 million (reserve was $1.5 million)

• 18 registered bidders, six active

• Lead agent: Nick Borrelli - 0432 270 893

• Ray White Campbelltown

Mr Borelli said the winning bidder was building a new house, and he needed somewhere to live during the construction. The underbidder was a downsizer.

“They sellers dabble in property development, and they did a beautiful high-end development here and they plan to keep doing the same elsewhere,” Mr Borelli said.

“The market was really busy at the start of the year, but we have noticed a bit of a shift with a little less buyer activity. March is known to be extremely busy in Adelaide with the Fringe Festival, so we might have a quiet few weeks ahead of Easter.

9 Harris Street, Edwardstown

• Sold under the hammer for $1.197 million (reserve was $1.089 million)

• 21 registered bidders, six active

• Lead agent / auctioneer: Robbie Smith - 0432 623 332

• Ray White Unley

Robbie Smith said the winning bidder saw the home for the first time today, with his fiance yet to see the home in person.

“He missed out on a property in Brighton on Thursday. He fell in love with this one, and also wanted to finish his search!”

Mr Smith said the owners had done a great job of presenting the gorgeous 1920s character property.

“The sellers bought from us elsewhere six months ago and spent 12 great years here. It was time for them to move on.

“The market is still really hot, particularly at this price point of anything under $1.3 million.”

22 Rankine Road, Torrensville

• Sold under the hammer for $1.305 million

• Six registered bidders, all active

• Lead agent: Peter Kiritsis - 0411 501 520

• Ray White Woodville

Mr Kiritsis said that the winning bidder of this character villa was an Asian investor. The sellers were also investors locally, who saw some extraordinary growth and decided it was the time to sell as they approached retirement.

“We have great open homes and bidder numbers, with everything turning over really well at the moment,” Mr Kiritsis said.

6B Philip Crescent, Valley View

• Sold under the hammer for $1.011 million (reserve was $1 million)

• 12 registered bidders, five active

• Lead agent: Brijesh Mishra - 0430 140 905

• Ray White Para Hills

• Auctioneer: John Morris, Ray White SA/NT chief auctioneer

Mr Mishra said that he had three out of three auctions sold under the hammer this week, a sign of the strength in his market place.

“The winning bidder was a first home buyer, and most of the bidders were first home buyers. The sellers were an investor / builder. They were thrilled with the result today,” Mr Mishra said.

The team then went on to sell 3A Monty Road, Valley View for $729,000, with three registered bidders.

29 Arthur Street, Richmond

• Sold under the hammer for $945,000 (reserve was $750,000)

• 13 registered bidders

• Lead agent / auctioneer: Rod Smitheram - 0417 626 037

• Ray White Glenelg