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Australasia’s leading auction group saw a whopping 395 auctions scheduled today, recording a preliminary auction day clearance rate of 76 per cent.
With strong buyer activity out at auctions across the nation, there was an average of 4.5 registered bidders and 3.0 active bidders attending Ray White auctions.
Today’s top auction sale was in the Sydney suburb of Maroubra. Ray White Eastern Beaches’ Nader Hotait sold 62 Sackville Street, Maroubra under the hammer for $5,475,000.
Meanwhile the auction with the most registered bidders was in South Australia. Linda Clemente of Ray White Norwood registered 30 bidders at their 26 Tyringa Ave, Rostrevor auction, which sold for $1,480,000, achieving $391,000 over reserve.
NSW
Ray White New South Wales State Auctioneer Perry Edmondson-Clark said it was another exciting week for the leading group with over 230 auctions booked across the state.
“The market is well and truly filled with enthusiasm. While we’re yet to see the spike in stock that was expected, the stock that is available is well and truly being snapped up,” he said.
“With 5.3 registered bidders on average across the state today, there is no shortage of competition for our sellers.
“There is simply no other method of sale that can come close to creating these outcomes. While we are seeing a market like this, the opportunity is simply with our sellers to capitalise on it and come to the market as soon as they can,” he said.
Sold under the hammer for $1,101,500 - $201,500 over reserve
15 registered bidders, nine active
Lead agent: Josh Tesolin - 0422 193 423
Ray White Quakers Hill
Auctioneer: Perry Edmondson-Clark, Ray White
Mr Tesolin said this cracking auction sold for $201,500 over the reserve price as a result of competitive bidding between the interested buyers on auction day.
“We sold the owner of the property’s daughter’s house only two weeks ago in Schofields, as they plan to move to the mountains together, so it was great to get an exceptional result to help them see their plans through,” Mr Tesolin said.
The winning bid went to the next door neighbour who simply walked in on auction day and competed fiercely against eight other bidders for the property next to his.
Sold under the hammer for $5,475,000
Five registered bidder, four active bidders
Lead Agent: Nader Hotait - 0402 636 320
Ray White Eastern Beaches
“The auction was quite quick and intense, with competitive bidding in $100,000 increments until the sale of this turn-key home in Maroubra for close to $5.5 million,” Mr Hotait said.
“Offers made prior to auction day were a few hundred thousand dollars less than what the property sold for, proving the auction method. The team had a clearance rate of 100 per cent, with this property being one of five sales under the hammer,” he continued.
The previous owners were ecstatic with the result, after completing a full refurbishment of the home over the last decade, and were now planning to downsize.
The lucky buyers were a local family, upsizing from their smaller Coogee home, looking to continue living the beach lifestyle.
10/140-144 Alexander St, Crows Nest
Sold under the hammer for $1,410,000 - $110,000 over reserve
6 registered bidders, 5 active
Lead agent: John McManus - 0425 231 131
Ray White Lower North Shore Group
Mr McManus said the previous owners were over the moon with the sale of their property, achieving a sale above their expectations under the hammer.
“The auction campaign saw great interest from approximately 200 people visiting the property during inspections,” he said.
The property was sold to a local woman from Chatswood, planning to keep the property as an investment and consider occupying the home in a couple of years.
VIC
Ray White Victoria and Tasmania Chief Auctioneer Jeremy Tyrell said property listings were steadily increasing across Melbourne.
“This week there has been a sharp rise in auction volume with 226 auctions scheduled, up 18 per cent from the previous week.
“Sellers are now taking advantage of a two month hiatus in interest rate rises as buyers continue to show up in numbers at auctions across the state, with the clearance rate holding strong at 77.4 per cent for all properties sold this week,” he said.
With warmer weather approaching and clearer skies on the horizon, the property market is set to be in good shape for the remainder of the year.
75 Lenoak Street, Gladstone Park
Sold under the hammer for $801,000 - $101,000 over reserve
Nine registered, eight active bidders
Lead agent/auctioneer: Phillip Mercieca - 0402 419 827
Ray White Gladstone Park
Mr Mercieca said the original owner of the home since 1978, was thankful when the hammer dropped at $101,000 over the reserve, as the initial plan was to sell privately but instead was convinced to take the property to auction.
“The campaign was brought forward two weeks earlier due to popular demand and strong buyer interest, with almost 90 groups through in that time. I just had a good conversation with the seller as we knew she had a good home and lots of interested buyers, which assured her that auction was the best method,” Mr Mercieca said.
Although the auction was intense with half the bidders competing right until the end, the property eventually sold to a local family planning to fully renovate the home.
Sold under the hammer for $900,000
Six bidders
Lead agent/auctioneer: Trish Orrico - 0423 336 636
Ray White Craigieburn
Ms Orrico said the auction today achieved some outstanding results selling under the hammer for $900,000.
“The sale had locals blown away as not only was it a great result for the neighbourhood but also for the property itself, as it was quite a unique situation. With two uninhabitable titles out of the three, we saw plenty of interest from everywhere including investors, developers and home buyers,” Ms Orrico said.
After a competitive auction, the home eventually sold to a couple of home buyers, who showed interest from the start at the very first inspection.
Sold under the hammer for $1,675,000 - $175,000 over reserve
Three bidders
Lead agent: Josh Hommelhoff - 0405 383 294
Ray White Carnegie
Mr Hommelhoff said the auction both started and finished with the winning bidders, securing the property at $1,675,000.
“The local buyers are planning to knock down and rebuild a couple of townhouses on the block, which is quite common for the area if the land allows, with lots of blocks being developed,” Mr Hommelhoff said.
The property had been with the previous family for a while having owned it for 40-50 years and decided now was the time to sell.
QLD
Ray White Queensland Chief Auctioneer Gavin Croft said Brisbane continued its red hot streak in the auction arena this week, with 48 auctions scheduled across the river city today.
“With a personal clearance rate of 100 per cent and eight average bidders today, vendors are being rewarded for quality family homes as there is some very strong demand.
“A few highlights we saw from Brisbane today, including Jason Song from Ray White Rochedale selling 104 Glenfield Street, Parkinson for $1,145,000 with eight registered bidders. Ray White Mount Gravatt’s Johnson Chen sold 28 Archer Street, Upper Mount Gravatt for $1,815,000, again with another eight registered bidders. This is a clear demonstration of high-quality family homes that are absolutely in demand.
“Auction volumes look reasonably consistent coming up, but are on the rise as home sellers will continue activity in this environment. As long as they really listen to the market, the market is responding,” Mr Croft said.
Sold under the hammer for $3,980,000
Six registered bidders, five active
Lead agent: Nick Roche - 0449 900 984
Ray White Ascot
Auctioneer: Phil Parker, Ray White
Mr Roche said the owners were extremely happy with the sale of their family home, selling under the hammer for just under $4 million.
Mr Roche had been in contact with the owners for 2.5 years and decided to sell now after preparing the home for sale over the last few months. The property owners of 13 years were ready to downsize and live their next chapter on their recently bought acreage.
The winning bid went out to a lovely young local family, who were looking to upsize and bought the extra space they were looking for.
Sold under the hammer for $2,650,000
11 registered bidders, five active
Lead agent: Judi O’Dea - 0417 009 635
Ray White Paddington
Ms O’Dea said the sale of the property came down to the last three bidders battling it out, until a local family eventually bought the well-sought after home, making the move from their existing Ashgrove home.
“Ashgrove is on fire! With a crowd of 200 people, it’s evident that there is a lot of buyer interest right now, especially in the Ashgrove area as it’s so popular among the locals and families wanting to move into the family-friendly neighbourhood. Owners stay in these homes for a good 20 years, generating an excessive amount of interest when one hits the market,” Ms O’Dea said.
Sold under the hammer for $1,855,000
Four registered bidders
Lead agents: Zita Durand - 0439 272 427 and Robyn Hoare - 0419 758 904
Ray White Collective
Auctioneer: Haesley Cush, Ray White
Mr Cush said the auction sparked competition with plenty of bidding activity, which eventually sold to a local woman happy to purchase within the area.
“It was an emotional auction across all parties. The underbidders only just missed out and had only been in Brisbane for a week, coming from Sydney,” he said.
The team had actually just sold the underbidders’ friends a property recently, and are hoping to help them secure a property in the near future.
SA
Ray White South Australia Chief Auctioneer John Morris said that after the South Australian and Northern Territory network awards last night, the celebrations continued with the highest volume of stock taken to auction across the state.
“We saw just over 40 auctions booked for the week, with a preliminary clearance rate well in excess of 80 per cent. Bidder registration numbers are sitting around 10 per auction, which are just incredible numbers to see. Those who continued to celebrate were the people that chose to sell with a Ray White agent, who truly understands the auction process,” he said.
Sold under the hammer for $1,480,000 - $391,000 over reserve
30 registered bidders, 6 active
Lead agent: Linda Clemente - 0409 099 046
Ray White Norwood
Auctioneer: John Morris, Ray White
Ms Clemente said the result under the hammer today was well beyond what the interstate owners were expecting, after they were preparing to sell the home at council valuation sitting just under the $1 million benchmark.
After assuring the seller that the auction method works best especially in the current market, the home sold for $391,000 above reserve price.
“Out of the 30 registered bidders, six came to auction day to participate, with the winning bid secured by a local family who knew the street and the neighbours, and valued the property even higher than what they purchased for,” she said.
Sold under the hammer for $975,000 - $65,000 over reserve
12 registered bidders, five active bidders
Lead agent: Lawrence Cocca - 0422 918 099
Ray White Prospect
Auctioneer: John Morris, Ray White
“There is plenty of buyer interest for classic family homes in mid-range neighbourhoods, which drove the auction sale price above reserve today,” Mr Cocca said.
The property was an original build that had been with the family since 1963, and had just picked the right time to sell.
The buyers walked straight in on auction day, just as the auction was starting, without having seen the property and bought it with the winning bid.
WA
Sold under the hammer for $2,623,000
14 registered bidders, five active bidders
Lead agent: Vivien Yap - 0433 258 818
Ray White Dalkeith
Auctioneer: Mark Whiteman, Ray White
Ms Yap said the crowd of more than 160 people spilled onto the streets at the auction, with buyer interest coming in strong.
“It was the most amazing auction where emotions were high, with a winning phone bid of $2,623,000 all the way from Margaret River, in hopes to move closer to their friend group in the area” she said.
With a street record being set for classic early 1920s homes, the neighbours are now keenly watching the market.
