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Although today marked the end of winter, it certainly felt like spring, with buyers bringing renewed heat to the market.

According to Ray White chief economist Nerida Conisbee, the group’s volume of listing authorities - the point at which a vendor signs a Ray White agent to sell their home before the property is advertised - is strong across all states as we move into spring.

“There are plenty of properties coming to market, which is great news for buyers,” Ms Conisbee said.

“Victoria and Tasmania are seeing the largest increase in listing authorities since last year, followed by South Australia and the Northern Territory. New South Wales and the ACT are also experiencing an increase, although it’s the smallest rise compared to last year.”

Leading real estate group Ray White recorded a preliminary clearance rate of 63 per cent today. Nationally, bidder numbers remained strong, with an average of 4.2 bidders registering per Ray White auction and 2.6 bidders actively participating.

According to NurtureCloud data, Ray White agents met 24,278 people at open homes across the country today and a total of 32,008 in the last seven days. Ray White Kensington’s Andrew Welch had the highest number of open home attendees today at 3/6-8 Lydia St, Plympton. Mr Welch welcomed 53 buyers through the two bedroom unit, according to NurtureCloud.

The top auction sale of the day was through Ray White The Ryde Group's Ben Boutros in Sydney. Mr Boutros sold 15 Sturdee St, North Ryde for $4.685 million to a local young family.
Ray White Norwood agents Linda Clemente and Oliver Bishop had the highest number of registered bidders across the group today. The Adelaide agents sold 1 Cole St, Klemzig for $920,000 in front of a crowd of 23 bidders.

Sydney

Ray White NSW|ACT head of auctions Perry Edmondson-Clark said the last Saturday of winter brought great volume and bidding numbers for the New South Wales network.

“We had 187 auctions scheduled across the state which is up 300 per cent on the same day in 2023,” Mr Edmondson-Clark said.

“Pairing this with an average of five bidders on average, this shows positive signs in the market for the spring season that kicks off tomorrow.

“There were certainly plenty of buyers eager to transact today, but as we have spoken about previously, properties must still be priced accordingly to achieve premium results.”

15 Sturdee St, North Ryde (pictured at top)

  • Sold for $4.685 million

  • 13 registered and five active bidders

  • Agent: Ben Boutros

  • Ray White North Ryde

  • Auctioneer: Alex Pattaro, Ray White NSW|ACT

“The auction kicked off at $4.3 million, which was already well above the previous suburb record of $4.01 million. It was a very busy auction, capping off a highly successful campaign,” Mr Boutros said.

“We had 193 groups inspect the home during the campaign, with a diverse range of buyers - from extended families drawn to the spacious home and studio apartment, to young executives, people looking to upsize, and those who decided against building.

“The seller was a local builder who specialises in high-end properties. The buyers were a local executive couple with a young family.

“The luxury market in North Ryde is strong, and buyer interest is high. In the building market, there was a surge of new listings that came onto the market last week.”

162 Tryon Rd, East Lindfield

  • Sold for $4.050 million - auction guide was $2.9 million

  • Five registered and three active bidders

  • Agent: Jessica Cao (pictured above with her sales team)

  • Ray White Upper North Shore

“Coming into spring, there is a lot of stock and certainly a lot of buyers around. Today’s auction was really strong and just shows that if a buyer wants something they’ll jump on it,” Ms Cao said.

“The underbidder and many of the interested buyers throughout the campaign were developers, they are pretty confident with the market at the moment so that’s a great sign.

“The auction started at $2.8 million and went in $50,000 bids all the way up to the sale price.

“The buyers were a family from the surrounding suburbs who will move in and look at renovating. They said they had to have it when they saw the amazing bush views.”

5 O'Meara St, Carlton

  • Sold for $1.901 million - the reserve was $1.8 million

  • 12 registered and five active bidders

  • Agents: Nicholas Economos and Tarun Cross

  • Ray White Rockdale

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

“The auction started at $1.6 million and was quite competitive. The buyers were a young couple looking to live in it, they might do a few updates down the track but the house is in good condition and ready to live in,” Mr Economos said.

“The underbidders were a family living locally, they were looking to buy another home in the area - either as an investment or for someone in the family to live in.

“There are still lots of buyers out there and personally I think stock will start to increase a bit in spring which could have an impact on the market.”

Melbourne

Ray White Victoria and Tasmania chief auctioneer Jeremy Tyrrell said the last day of winter felt more like spring.

“We had 275 auctions scheduled across the state for the Ray White Victoria network, the highest volume of auction activity since March earlier this year,” Mr Tyrrell said.

“With the AFL taking a week off before finals fever takes over, the greatest competition this weekend was amongst buyers, with 2.3 active bidders on average and a clearance rate of just over 70 per cent.

“Interestingly, there were a high number of auctions mid-week with 55 conducted over Tuesday and Wednesday, resulting in this week's highest clearance rate of nearly 82 per cent over the two days.

“Taylors Lakes and Melton were the hotspots, with the sub $600,000 market attracting the most competition.”

5 Yonga St, Balwyn

  • Sold for $2.826 million - the reserve was $2.5 million

  • Six registered and active bidders

  • Agents: Bradley Cooper (auctioneer) and Helen Yan

  • Ray White Balwyn

“It was a very spirited and competitive auction, we had a crowd of about 70 or 80 people,” Mr Cooper said.

“A local family bought it. All the buyers were drawn to the Balwyn High School zone which is important. It’s north facing with a rear garden, a good size block of 760sqm with a really good open plan living area.

“We’re expecting to see more stock coming on as we hit spring proper.”

21B Sixth Ave, Burwood (pictured above)

  • Sold for $2.105 million

  • Four registered and three active bidders

  • Agents: Leigh Petropoulos (auctioneer) and Max Hedley

  • Ray White Ashburton

“The auction started at $1.8 million, it was very close between two bidders the whole way. As soon as it was called on the market it just went back and forth - they both really wanted it,” Mr Petropoulos said.

“The house is low maintenance and very high end. Properties like this don’t come up very often in Burwood.

“Usually with a property this size you’re dealing with a large garden and this and that but this is turn key and you don’t have to worry about a thing.

“It’s perfect for a family who are a bit older with kids in high school or university but still need space.

“The buyers were a couple with kids who live nearby. They are actually downsizing and interestingly, I had quite a few downsizers looking at this along with families.”

5 Hanley St, Mernda

  • Sold for $726,000

  • Seven registered bidders and four active bidders

  • Agents: John Metaxas (auctioneer) and Chloe Topouzis

  • Ray White Mernda

“The auction started strong, it was called on the market at $680,000 and then just kept going up,” Mr Metaxas said.

“The buyers were a young couple but they couldn’t be there today so they were on the phone to three friends who were bidding on their behalf. Their friends had worked out a game plan and knew what they could go up to.

“When I spoke to the buyers earlier in the week, they said they had missed out on quite a few auctions so their instructions to their friends were to go hard. Every time someone bid they came in strong over the top.

“The sellers were investors, they are getting married so they decided to sell this and buy their own home together. We’re seeing a lot more investment properties coming onto the market at the moment, it’s mainly an affordability issue.”

Brisbane

4 Wentworth Pl, Carindale

  • Sold for $2.78 million

  • 11 registered bidders and eight active bidders

  • Agent: Nick Foster

  • Ray White Carina

“We had all sorts of buyers come through during the campaign, but the main demographic was couples with young children. All up we had just over 60 groups view the property,” Mr Foster said.

“The home backs onto the local parklands so that was the main drawcard. The buyers in the end were a young couple with young children, meanwhile the sellers were looking to downsize.

“The auction was very successful, it started at around $2.2 million and went up from there quickly.

“Carindale is still very tightly held but we’re seeing a lot of buyers so it’s competitive. The quality of buyers coming through is very good.”

29 McPherson St, Gordon Park (pictured above)

  • Sold for $2.110 million - reserve was $1.9 million

  • 12 registered and seven active bidders

  • Agent: Holly Bowden

  • Ray White Wilston

  • Auctioneer: Mitch Peereboom, Ray White Wilston

“I was bombarded with registrations, we had five bidders already registered and then ended up with 12 in total,” Ms Bowden said.

“There were some people who registered but didn't place a bid. One woman, for instance, held back strategically. She was friends with the neighbour and had been discussing the property with me for months, already knowing it would come on the market through her friend, but she chose not to bid in the end.

“There was also a young couple who had just sold their home in Windsor after completing a renovation. They bid aggressively against several competitors, thinking they had outbid everyone, but each time, a new bidder would pop up. They were just a young couple eager to roll up their sleeves and build their dream home.

“I hadn’t met the buyer during the campaign, he’d never been through the property and turned up for the first time today and bought it.

“The property was a deceased estate, with two brothers selling their family home. All the bidding took place under the avocado tree the brothers had planted as kids so it was quite emotional for them.

“I think buyers are really hungry for quality stock. I’m finding many buyers are coming in strong and fast and identifying themselves to the agent, they really want to transact on property.”

Ms Bowden also sold 70 Richmond St, Gordon Park for $1.722 million earlier in the day with seven registered bidders and four active bidders.

22 Merron St, Logan Central

  • Sold for $601,000 - the reserve was $420,000

  • 14 registered and eight active bidders

  • Agents: Rebecca Cuderman and Taha Artani

  • Ray White Marsden

  • Auctioneer: David McMahon, Ray White Burleigh Group

“The buyer was an interstate investor, looking to buy and renovate,” Ms Cuderman said.

“We had people looking to flip it, there were a few owner occupiers looking to buy and build their first home but it was mainly all builders and handymen.

“The underbidder was a local investor who only missed out by $500.”

Adelaide

Ray White South Australia chief auctioneer John Morris said normally on the last day of winter the rhetoric is around how the lull is over when it comes to auction and listing metrics but that seems redundant at the moment.

“We’ve seen no such lull in South Australia, we have had three of the strongest months on record with August being the strongest month within the Ray White Group for auctions scheduled,” Mr Morris said.

“There have been 312 auctions scheduled, the previous record was November 2021 with 311 and it’s looking like it’s only going to get stronger. We’ve never dipped below the 80 per cent clearance rate on average over the past three months. It stayed consistent with seven registered bidders and half of those participating.

“As winter finishes, we’re seeing investors coming back in, 27 per cent of all buyers throughout August were investors.

“We’re seeing extremely strong bidding with 95 per cent of all auctions achieving bidding.”

16A Lancelot Ave, Hazelwood Park

  • Sold for $1.401 million - reserve was $1.4 million

  • Eight registered and four active bidders

  • Agents: Brandon Pilgrim and Damien Fong

  • Ray White Burnside

  • Auctioneer: George Kargiotis, Ray White

“The auction started at $1.3 million, someone came in hot with a strong bid,” Mr Pilgrim said.

“The buyers were a young couple with kids wanting to get into a better school zoning and the sellers were downsizers.

“Younger families and downsizers were our market. There’s good schools in the area so that was a big draw for families.”

1 Cole St, Klemzig (pictured above)

  • Sold for $920,000 - reserve was $749,000

  • 23 registered and five active bidders

  • Agents: Linda Clemente and Oliver Bishop

  • Ray White Norwood

  • Auctioneer: John Morris, Ray White SA

“There was heated bidding from the first bid of $680,000. There were a lot of investors there, but also some buyers looking for a family home,” Ms Clemente said.

“We had a young lad who was looking to build his family home, he was bidding in $50,000 increments but at the last hurdle an investor came in and got it across the line.

“There’s definitely demand out there. Buyers are more particular, but definitely out there in droves looking for quality properties.

“I feel like investors have definitely come back with a vengeance, they were a bit quieter last year but are now very active.”

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