Today, Ray White’s auction volume continues to track lower than last year, but with the potential of another interest rate pause coming next week, buyers are more eager than ever.
The number of properties scheduled for auction today dipped more than 13 per cent on the same time last year. However, buyer sentiment remains strong after leading auction house Ray White recorded a 75 per cent clearance rate.
Today, there were 5.1 registered bidders and 3.3 active bidders attending auctions - an increase on the same time last year. On average, sellers who sold at auction instead of taking a prior offer netted nearly 14 per cent more on their sale price.
Today’s top auction sale was a 1,161sqm block in Balwyn North. Ray White Balwyn principal Helen Yan sold 7 & 7a Highbury St, Balwyn North for $3.495 million - $135,000 above the reserve. Ray White Balwyn auctioneer Brad Cooper brought down the hammer on the winning bid from a buyer who plans to knock down the existing property and build their next home. South Australians are no strangers to clinching the top spot for most registered bidders. Ray White Grange director Tristian Kennedy attracted 41 eager buyers to his 8 Devon St, Enfield auction which sold for $1.105 million. It seems Enfield was popular today as Ray White Paradise’s Nick Borrelli had the second highest rate of registered bidders at 18 Ward Tce, Enfield which sold for $970,000 after 28 buyers registered. |
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Ray White New South Wales chief auctioneer Alex Pattaro said despite the gloomy Sydney weather there were big crowds at auctions today.
“High registered bidder numbers continue to roll through Sydney auctions. This is evidence of an inclining market as registered bidder numbers continue to strengthen,” Mr Pattaro said.
“Sellers should have full confidence that property prices are moving in the right direction and I urge sellers not to fear coming to market.
“Auction remains the best way to get the most from the market.” |
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42 Hinemoa Ave, Normanhurst Sold for $2.3 million - $100,000 above reserve 13 registered and eight active bidders Agent: Thomas Merriman (0401 840 859) Ray White Upper North Shore
“The buyer was a young woman with two children, she’s upsizing from an apartment in a nearby suburb. She had a strong bidding strategy and clearly wanted the property so she’s stoked,” Mr Merriman (pictured above with the sellers) said.
“The location of the house was a huge plus for buyers. It’s within walking distance of some of the best girls schools in Sydney so the bidders were predominantly families with young girls.
“The house was also a selling point. It’s about 20 years old but has been recently renovated.”
59 Capricorn Boulevard, Green Valley Sold for $1.657 million - $17,000 above reserve 18 registered and six active bidders Agent: Adrian Bonino (0414 899 905) Ray White Green Valley
“We sold the sellers’ daughter’s property a week ago so they can both move to Hinchinbrook and build next to each other,” Mr Bonino said.
“It’s a really well thought out build and only 13 years old. It has marble tiles, a large open kitchen and alfresco area, so everyone wanted it.
“There was some really strong bidding, it opened at $1.2 million. The buyers are a family moving from Five Dock.” |
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5/35-37 Parsonage Rd, Castle Hill (pictured above) Sold for $1.42 million - $170,000 above reserve 18 registered and six active bidders Agents: Kael Sharp (0435 821 736) and Ben Cowley Ray White Castle Hill Auctioneer: James Kerley, Ray White
“The property had been on the market for 16 days. The property was originally scheduled to go to auction on May 6 but with all the strong interest we received, we recommended moving it forward to today,” Mr Sharp said.“The sellers are a young family who are upsizing and bought a new property off us a month ago.“I thought it was going to be a first home buyer or downsizer who bought this one but an investor came out of nowhere with some strong bidding.“The opening bid was right on reserve and the sold price is now a complex record.” |
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Ray White Victoria and Tasmania chief auctioneer Jeremy Tyrrell said Melbourne produced a little taste of winter this week, however conditions were significantly warmer for the real estate market.
“Buyers turned up the heat with some strong competition seen across a number of auctions. For the state there were a total of 190 auctions scheduled with a preliminary clearance rate of 72.3 per cent,” he said.
“Buyer activity broke the year-to-date record as we saw an average of 3.4 active bidders across all auctions.
“To provide some context around this number, we have been averaging 2.7 active bidders so far this year, so today's figure highlights a surge in buyer confidence as bidder numbers surpassed three on average.” |
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7 & 7a Highbury St, Balwyn North (pictured above) Sold for $3.495 million - $135,000 above reserve Four active bidders Agents: Helen Yan (0404 078 588) and Dennis Zhong Ray White Balwyn Auctioneer: Brad Cooper, Ray White
“The buyers are going to knock down the existing property and build something new. The seller was an investor,” Ms Yan said.
“The land potential was what made it so popular.”
4 Marie Court, Mount Waverley Sold for $2.19 million - $390,000 above reserve Eight registered and five active bidders Agents: Courtney Matthews (0403 438 457) and Claire Liang Ray White Mount Waverley Auctioneer: Courtney Matthews, Ray White
“Interest predominantly came from families with primary and secondary aged kids. The winning bidders were a young couple wanting to start a family and choosing to live in a family friendly area with good school zones and a park at the end of the court,” Mr Matthews said.
“The park got renovated by the council recently and the house is inside the sought-after Mount Waverley College zone, there’s a great cafe around the corner that’s really appealing for locals and it’s only a two minute drive from Chadstone Shopping Centre.
“The house is just over seven years old but has been kept in mint condition. It’s like buying a brand new home and the single level layout means they could live there forever and not worry about downsizing.” |
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135 Arthur St, Eltham (pictured above) Sold for $1.458 million - $208,000 above reserve Nine registered bidders and four active bidders Agents: Peter Don (0410 609 006) and Sean Salmon Ray White Eltham Auctioneer: Sean Salmon, Ray White
“The buyer came from Canberra, they moved back here because they’ve got family and grandkids in the area, but we did have a lot of young families looking at it,” Mr Don said.
“The sellers are moving more to the inner city, their kids have grown up and a lot of things are back towards the city for them.
“The appeal of the house was the quality of the renovation and the different living zones and nice flat backyard which can be rare in Eltham.” |
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Ray White South Australia chief auctioneer John Morris said there might be much talk of a downturn in the property market but he’s not seeing anything like that in South Australia.
“We started the year off strong and it has just gone from strength-to-strength,” he said.
There’s lots and lots of buyers out there but there isn't a lot of stock and we are still selling auction as our preferred marketing method because we know that it works.” |
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10 Wood Grove, Hazelwood Park (pictured above) Sold for $1.72 million - $270,000 above reserve 12 registered and five active bidders Agents: Brandon Pilgrim (0438 807 061) and Damien Fong Ray White Norwood Auctioneer: George Kargiotis, Ray White
“The buyers actually own a property up the road, they bought this as an investment and to live in while they do a renovation,” Mr Pilgrim said.
“The seller’s wife was an architect and built it in the 1970’s. It was quite a modern build with big bedrooms, a good layout and over 300sqm of living space which you don’t find often in older homes.
“It’s the perfect family home.” |
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24 Vine St, Prospect
“The buyers (pictured right) were a lovely young couple with an eight month old baby. It was actually her birthday today as well so it was a wonderful present,” Mr Psarros said.
“They were living on a very busy street and they needed to do an extension so instead of spending thousands on doing an extension and having to put up with the noise, they thought they may as well look around for something else. They saw this house and fell in love with it from day one. “The sellers (pictured left) have been here for 31 years and the husband inherited the house from his grandmother who had been living in it for over 40 years. It’s been in the family for more than 70 years.” |
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18 Ward Tce, Enfield (pictured above)
“The property sold around $100,000 above expectation to a local investor,” Mr Borrelli said.
“The sellers are a family with a couple of kids who are moving further out into something a bit smaller in preparation for those later stages of life.
“The big draw was the large corner block and the amount of off-street parking and storage. It’s ready to move into as well, the family has done a nice job of presenting it.” |
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4 Chapman St, Rostrevor Sold for $930,500 - $110,500 above reserve 14 registered and seven active bidders Agents: Linda Clemente (0409 099 046) and Oliver Bishop Ray White Norwood Auctioneer: John Morris, Ray White (pictured above)
“The auction was highly competitive, towards the end it was between three bidders then down to two who fought it out. The buyer (pictured below with the sellers) in the end was an investor,” Ms Clemente said.
“The buyers all loved the area, Rostrevor is such a family orientated suburb in a great school catchment and the house has a beautiful, homely feel that resonated with people.” |
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Ray White Queensland chief auctioneer Gavin Croft said the Easter break and long weekends have played a role in holding back auction volumes slightly.
“We anticipate May to be a really busy month, with many sellers choosing to wait to avoid the disruption of long weekends and holidays in their campaign,” he said.
“We can see auction volumes on the rise in May and June, promising to be busy auction months.
“Buyer numbers remain strong and this is continuing to translate to buyer depth at the auctions that do run through on auction day.”
14 Carron Court, Runcorn Sold for $1.105 million - $55,000 above reserve 10 registered bidders and seven active bidders Agents: George Yang (0488 199 888) and Yvonne Zheng Ray White Rochedale
“The biggest selling point was the renovation, it’s all been done and at the moment many people want to be able to just move straight in and not worry about building or renovating,” Mr Yang said.
“The sellers did the renovation themselves but have now decided to sell so they can build a new home. Meanwhile, the buyers, also a young family, are upsizing from a townhouse, they have a couple of kids so the pool will come in handy.” |
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70 St Johns Wood Boulevard, Mount Claremont (pictured below) Sold for $2.4 million 11 registered bidders and four active bidders Agent: Vivien Yap (0433 258 818) Ray White Dalkeith | Claremont Auctioneer: Mark Whiteman, Ray White
“The buyers are moving from Kalgoorlie. The wife saw it two weeks ago and loved it but the husband only saw it for the first time today,” Ms Yap said.
“The sellers are originally from the UK and wanted to downsize because all their kids have grown up.
“Buyers loved the fact that it’s all ready to go, there’s nothing that needs to be done to the house. It’s a great entertainer’s home with a fantastic entertaining area that is fully connected to the pool, spa, pizza oven and alfresco area for entertaining.” |
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9 Brittain St, Como (pictured below) Sold for $1.28 million Seven registered bidders and four active bidders Agent: Jack Shaw (0466 898 054) Ray White South Perth Auctioneer: Mark Whiteman, Ray White
“The property was popular because of the 1,012sqm block, redevelopment potential and great location,” Mr Shaw said.
“We had a mix of buyers show interest from investors to developers and owner occupiers looking to build their dream home on the land. The buyer was an investor planning to build a family home on the block.” |
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Download today’s photos and audio here.
Media Contact
Shannon Cook
Ray White Group
Media advisor
media@raywhite.com
0437 593 050 |
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| About Ray White
Ray White is a household name in Australasia, synonymous with the property and real estate industry. The White family owned and led property giant, established in 1902 in regional Australia, has 1,000 franchised offices across Australia and New Zealand. The group, with more than 11,000 members, sold more than 99,000 properties last financial year worth well in excess of $94 billion in sales value. The group’s scale and geographic presence across Australasia, and the fact it attracts the top performers in each market, is its advantage. Led by Dan White, the group spans residential, commercial and rural property as well as hotels, marine, property management and a leading property funds investment and advisory. The market leader called 37,500 auctions across Australasia last year. The group has trademarked the term 'competition creators’ as it firmly believes in the power of the open and transparent method of sale. |
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