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Increased buyer confidence had bidders lining up to register at auctions across the country today.
With 4.7 average registered bidders per auction and 2.9 active bidders, the country’s leading auction group Ray White recorded a 73 per cent preliminary clearance rate. Buyers weren’t the only ones feeling confident, with sellers who opted not to take a prior offer netting 12 per cent more under the hammer than if they had sold during the campaign.
Jessica Cao of Ray White Upper North Shore once again took out the top auction sale spot with the $4.33 million sale of 3 Warrabri Pl, West Pymble, which was $380,000 above reserve and well above the highest offer prior to auction.
Meanwhile, Ray White Norwood agent Ryan Stapleton topped the list for highest number of registered bidders. Mr Stapleton attracted 24 bidders to 10 Farrell St, Para Hills West which sold for $626,000 to a first home buyer.
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Ray White NSW | ACT state auctioneer Perry Edmondson-Clark said it was another strong weekend of results across the Sydney real estate market with strong bidding and clearance rate numbers.
“Sellers should see this data week in and week out and see that a high number of registered bidders with a low number of stock naturally creates competition and that’s why we are continuing to see strong prices achieved at auction,” he said.
“Sellers who are considering coming to the market are encouraged to do so as soon as they can to capitalise on the strong trading conditions that we are currently seeing leading into the back end of 2023.
“With school holidays coming to an end, it'll be interesting to see how the market continues to perform late July, early August and over the balance of the year.”
Sold for $4.33 million - $380,000 above reserve
Six registered bidders and four active bidders
Agent: Jessica Cao (pictured above with sales associate Lyndon Towns)
Ray White Upper North Shore
“In the beginning the auction started out slow, the bidders weren’t really showing their cards which was similar during the campaign,” Ms Cao said.
“We didn’t expect it to go this well. At the start no one wanted to bid, it started at $3.5 million with two bidders taking it up to $3.85 million and then it started to gain momentum.
“As soon as it hit the reserve, two new bidders jumped in straight away and bidding took off. Within 20 seconds it had gone up to around $4.2 million.
“In the end, there were two buyers who fought it out, it went down to $1,000 bids in the end.
“The buyers and underbidders were both couples with young kids. Most of the interest we received was from young families during the campaign.
“It’s a really nice house. The owners built it for themselves and it’s got high ceilings, big bedrooms, a big kitchen, big living spaces and it has a really warm, family feel about it.
“I think if we didn’t take it to auction we wouldn’t have gotten this price so the sellers are thrilled.”
56 Knight St, Arncliffe (pictured above)
Sold for $1.7 million - $50,000 above reserve
19 registered and six active bidders
Agents: Nicholas Economos and Tarun Cross
Ray White Rockdale
Auctioneer: Perry Edmondson-Clark, Ray White
“We had a mix of buyers register today, a lot of local buyers but also some from the inner west and inner suburbs. But the actual buyer and his partner were from western Sydney,” Mr Economos said.
“Throughout the campaign we had interest from a lot of different types of buyers including young families, couples, younger professionals and even some older couples.
“The character and charm of the house and the tasteful renovations made it popular. We had over 150 groups go through the house during the campaign.”
59 Pye Ave, Northmead (pictured above)
Sold for $2.1 million - $300,000 above reserve
18 registered bidders and eight active bidders
Agents: Paul Conti and Saby Arora
Ray White Castle Hill
Auctioneer: James Kerley, Ray White
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Ray White Victoria chief auctioneer Jeremy Tyrrell said buyer demand stayed strong with an increase in auction volume.
“As auction numbers increased significantly this week to 174 scheduled auctions, so too did buyer confidence as the clearance rate shot up to over 76 per cent on auction day,” he said.
“Even with this increase in auction volume, buyer demand was still strong as we recorded 2.8 active bidders on average across the network.
“As listing numbers continue to grow leading into the spring market, this week’s results should give much needed confidence to sellers that the market is alive and kicking.”
12 Janina Court, Wheelers Hill (pictured above)
Sold for $1.703 million - $243,000 above reserve
Six registered bidders and five active bidders
Agents: Josh Hommelhoff and Andrew Pricop
Ray White Carnegie
Auctioneer: Matt Hurlston, Ray White
“It was the first home the seller bought which was in the late 90’s and then it was an investment for a bit over 10 to 15 years,” Mr Hommelhoff said.
“The buyers were locals, they were based in Vermont and buying a place to move into.
“The opening bid was $1.2 million and it was really hotly contested all the way through to the sale price. The buyers who opened the bidding were the underbidders and the guy who came in with a second bid was the one who bought it so they went toe-to-toe all the way through with a few others jumping in every now and then.
“The house is in a court, it’s a single level home on 799sqm so that was appealing. It’s really neat and tidy with a good, family floor plan and decent living space.”
Sold for $1.4805 million - $130,500 above reserve
Four active bidders
Agents: Angela Limanis (auctioneer) and Thomas French
Ray White Cheltenham
“The buyers (pictured below with the sellers) were a couple moving from Carnegie. They arere moving into the area to be closer to friends and want something larger,” Ms Limanis (pictured above) said.
“We predominantly had young families and growing families wanting extra space show interest. The home was well attended from the get go.
“Despite being a 1980’s build, it had really generous proportions throughout the home. There’s an optional fifth bedroom or it can be used as a study.
“Even though the house needs a little bit of updating, it's really solidly constructed and buyers saw past that to the potential the home offered in the future.”
39 Somerset St, Wantirna South
Sold for $1.551 million - $351,000 above reserve
Five active bidders
Agent: Brad Spencer
Ray White Wantirna
“The buyers were a Chinese family, a couple with a young boy. They literally purchased the house for the space because they will have their parents coming over from time to time to Australia. They were thrilled because they’ve missed out on three other auctions in the past few weeks,” Mr Spencer said.
“One of the bidders was an investor but the rest were mainly families. He dropped out quickly so it was primarily families battling it out.
“The big draw was the space, it’s on a big block and the house is well maintained. You could buy it and move straight in. It’s also the newest house on one of the older streets, it’s 12 years old in an area where houses are mainly around 40 plus years old.”
145 Cumberland Rd, Pascoe Vale
Sold for $1.360 million - $60,000 above reserve
Seven registered bidders and two active bidders
Agents: Stefan Stella (auctioneer) and Sam Paradisis
Ray White Pascoe Vale
“The buyers (pictured above left with the sellers, right) were a young family who had looked at this property about four weeks ago when they were just about to go bid on another property, they didn’t push themselves as much with the other property because they knew they wanted this one,” Mr Stella said.
“It’s a deceased estate so the sale was highly emotional. When people walked through they could feel it was a well loved home and very well looked after.”
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Ray White Queensland chief auctioneer Gavin Croft said high bidder numbers and low stock might raise seller expectations.
“What we start to see when clearance rates hit 80 per cent and with the current volume of registered bidders, is that sometimes vendor expectations can start to be pushed north,” he said.
“While we are seeing this great energy, we're not seeing a massive jump in prices.
“Vendors are seeing the best of the market, which should give them enormous confidence to react and choose to sell via the auction method with the volume of registrations and the interest we're seeing in the market due to our current stock levels.”
Sold for $2.175 million
Four registered bidders and three active bidders
Agent: Jackson Paradise
Ray White Prestige Gold Coast
Auctioneer: Andrew Bell, Ray White
“We had interest out of Singapore and down south in Sydney but it ended up being a local family who bought it. They are planning to knock it down and build a new home,” Mr Paradise said.
“The area was the drawcard, it’s in a really good spot - close to shops, amenities and good schools.
“The sellers (one pictured above with Mr Paradise) have bought elsewhere, they’re moving to the country.”
Sold for $1.275 million
10 registered and five active bidders
Agents: Jessie Hall and Peter Douglas
Ray White Wilston
Auctioneer: Phil Parker, Ray White
“We had 94 groups come through the house - they were mainly owner occupiers looking to upsize. They loved that it was low set, had just been freshly updated and located in a good pocket of Aspley,” Ms Hall said.
“The buyer (pictured above) was an owner occupier from the inner city while the seller (pictured below) had updated the house as a project and was selling so he could move on to his next project.”
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Ray White South Australia chief auctioneer John Morris said the group has continued to lead the way in the state’s auction space.
“Last week, we had an average registered bidders of 6.5 per auction, and a clearance rate of about 83 per cent,” he said.
“And the preliminary clearance rate is looking about the same this week so far as well with similar bidder numbers.”
Sold for $1.205 million
Eight registered and three active bidders
Agent: Joel Fisher
Ray White Port Adelaide
Auctioneer: John Morris, Ray White
“The location and all the character and charm that it had made it popular, it definitely played a massive part in getting a great result,” Mr Fisher said.
“We had a lot of younger couples looking at the home who were either wanting to move into the area or stay within the area. The buyer had just sold his house nearby and wanted to get closer to the beach.
“It was the sellers’ (pictured above) parents’ property, a deceased estate so the sale was emotional for them.”
26B Stonehenge Bvd, Para Vista (pictured above)
Sold for $735,000
22 registered and eight active bidders
Lead agent: Nick Borrelli and Cristian Aloisi
Ray White Campbelltown
“It sold above reserve which was in the mid-$600,000’s. It’s brand new and attracted a lot of interest during the campaign,” Mr Borrelli said.
“We had lots of young families and first home buyers show interest. There’s a lack of supply here and this one ticks all the boxes in a very first home buyer centric marketplace.”
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Sold for $895,000
Eight registered and four active bidders
Agent: Noel Rogers
Ray White Applecross
Auctioneer: Patrick Derrig, Ray White
“The buyers were a young couple from Kardinya who walk their golden retriever Alfred at Piney Lakes Reserve everyday so they thought they should buy a block straight opposite the park. So Alfred now has a playground,” Mr Rogers said.
“The underbidders were also a young couple who were hoping to buy a property close to their parents in Winthrop.
“There would have been around 60 people at the auction, which took around 15 to 20 minutes, the opening bid was $700,000 and the auctioneer probably took around 20 bids.
“We had interest from a range of age groups, from young couples to retirees and a lot of Winthrop property owners who saw it as a wonderful investment because of its spectacular ambience.
“A lot of people wanted it because it’s in the Applecross high school zone, so people outside of the area showed interest. We also had some people from Mosman Park, which is on the other side of the river, who saw it as a wonderful investment.
“Over the four week campaign we probably had about 50 groups look at that block, that’s the sort of interest you would normally see for a luxury home.”
