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This number dwarfs the previous year’s 191 scheduled auctions and with volume trending up, the group’s clearance rate for the day still stayed strong at 74 per cent. There were 4.3 registered bidders attending auctions today on average, while 2.9 active average bidders actively participated in the bidding.
Ray White chief economist Nerida Conisbee said house prices have been rising across Australia since the start of the year and a key driver of this has been a shortage of properties for sale.
“Housing markets are far too complex to be driven by just one factor and the outlook is not driven simply by a change in the number of properties available,” she said.
“Both supply and demand of properties are being driven by a range of varying influences. It is simplistic to say that because listings are going up, there is insufficient demand to maintain price momentum and therefore prices will either slow down or even fall.”
The top sale of the day was 1 Ocean Court, Shelly Beach which sold for $4.2 million through Ray White Caloundra principal Andrew Garland and sales agent Marcus Lane. It was a buyer from Brisbane who claimed the keys, looking for a holiday home close to the beach. All seven of the registered bidders were from south-east Queensland, either already living in the area or coming from Brisbane.
Still in the Queensland, the top residential auction record was also smashed by Ray White this week with the sale of 5 McMillan Court, Southport for $24.8 million through Ray White Burleigh Group’s Rebecca Moffrey.
The auction with the most registered bidders nationally was in Brisbane today. No. 73 Flower St, Northgate (pictured above) sold for $1.315 million and had a massive 24 bidders register. The property was sold by Ray White Ascot’s Alexander Shean.
The number was very closely followed by 5 Hohnen St, Bruce in the ACT. Off the back of a stellar performance at the Australasian Auctioneering Championships where he made the finals, listing agent Ray White Canberra’s Alec Brown (pictured at top) brought the hammer down on the home with an audience of 21 registered bidders. The four bedroom property sold for $1.302 million.
Ray White NSW | ACT state auctioneer Perry Edmondson-Clark said momentum continued to roll into the Sydney market with 159 scheduled auctions across the city for the Ray White group.
“These numbers continue to show that we are in fact continuing to see more stock come onto the market week in and week out,” he said.
“With more stock launching we will see registered bidder numbers slowly drop as they have more choice, but the important number which we are keeping an eye on is that our active bidding number remains steady, which it has this week, and over the last few weeks as well.
“This shows a huge amount of consistency in the market. With a preliminary clearance rate today of 70 per cent, this is an incredible number and further support to the strong market that we're currently seeing and expecting to continue right through until the end of 2023.”
358 Riley St, Surry Hills (pictured above)
Sold for $2.8 million
Five registered and three active bidders
Agents: Charles Touma and Cadan Hickey
Ray White Touma Group
“The buyer was a lady moving from South Coogee and the house was really well appointed in a great location with a good layout,” Mr Touma said.
“We had a mix of buyers looking at it - young professionals, an investor from the Upper North Shore, downsizers and a couple of young couples.
“The reserve was in the mid $2 millions.”
Sold for $2.3 million
Five registered bidders and three active bidders
Agents: Angus Gorrie and Luke Fuller
Ray White Eastern Beaches
Auctioneer: James Hayashi, Ray White
“We had more than 80 groups come through during the campaign and it was a big mix of different buyers including builders, developers and young couples wanting to renovate the property,” Mr Gorrie said.
“The buyers were locals with plans to renovate the property.”
8/81 Elizabeth Bay Rd, Elizabeth Bay (pictured above)
Sold for $1.23 million - $30,000 above reserve
Five registered and four active bidders
Agent: Renee Cross
Ray White Elizabeth Bay
“The buyers were a young first home buying couple. Four of the bidders were first home buyers,” Ms Cross said.
“The auction was a little slow to start with because the bidders were a bit nervous but once it got underway it went well.
“The major draw cards were the location - it looks down to the Rushcutters Bay park. And it's an exclusive boutique block of only 10 apartments. It's quite a special block and has a grandness to it.
“The campaign was strong, they had almost 100 inspections all up. Interested buyers ranged from first home buyers to people coming from outside of Sydney and even Queensland looking for a city pad.”
Ray White Victoria and Tasmania chief auctioneer Jeremy Tyrrell said from all reports, it looks like the real estate market is experiencing its own El Niño weather event as the market continues to heat up with auction numbers hitting the two hundred mark once again.
“The spring selling season is well and truly alive as buyers welcome more properties to choose from and continue to be highly active at auction,” he said.
“Across the state the clearance rate exceeded seventy percent, continuing to provide confidence to sellers that there is still plenty of demand out there.
“Next week, auction volume will drop considerably due to the AFL Grand Final, however, we expect auction numbers to increase significantly for the remaining three months of the year.”
Sold for $1.202 million - $202,000 above reserve
Eight registered bidders and five active bidders
Agents: Peter Liu and Lisa Li
Ray White Clayton
“I sold this property for $920,000 in 2017 to the sellers (pictured above),” Mr Liu said.
“The buyers were a young couple and throughout the campaign buyer interest was about 20 per cent investors because of the good location and 70 per cent owner occupiers.
“Investors are still there but have dropped off on certain properties because of interest rates.
“Old properties that need a lot of renovations have definitely seen a reduction in investor activity but with properties like this one that are in good condition it’s still strong.
“The underbidders were a 50/50 split of investors and owner occupiers.”
Sold for $1.35 million
Three registered and active bidders
Agents: Tom Grieve and Matt Hurlston
Ray White Carnegie
“The opening bid was well above the vendor’s expectation and it ultimately went to a young couple looking to renovate (pictured above),” Mr Grieve said.
“We had good numbers through the property. Buyers could see it needed a lot of work but for a handful of people they could see the opportunity and the potential for someone looking to fix it up and make a beautiful home out of it.”
25 Woodland Dr, Cheltenham (pictured above)
Sold for $995,250 - $155,000 above reserve
Five registered bidders and four active bidders
Agents: Angela Limanis (auctioneer) and Thomas French
Ray White Cheltenham
“The highest sale in the complex was $999,000 in the peak of the market for a renovated home with two bathrooms. This one had one bathroom and was partially renovated,” Ms Limanis said.
“The buyer was a lady from Armadale who just generally liked the location.
“The renovation was really aesthetically pleasing in a soft mint tone, that in combination with the windows, the cathedral ceilings and the light made it very light and bright. It’s a nice, feel good kind of home. Also it’s on a single level with a double garage that ticks a lot of boxes for a lot of different buyers.”
Sold for $2.62 million
Four active bidders
Agents: Helen Yan and Dennis Zhong
Ray White Balwyn
“All the bidders were developers including the eventual buyer,” Ms Yan said.
“The block is an attractive development project because of the location, you can get city views from Balwyn, and the wide frontage.”
Ray White Queensland chief auctioneer Gavin Croft said this week the group pushed passed 4,000 auctions for the calendar year in the state, well on the way to the year’s 7,000 auctions goal.
“The last few weeks has seen a further increase in average registered bidder numbers to six and early indications are this number is likely to stay the same,” he said.
“The clear highlight of the day for me was the auction at 10 Lakkari St, Eight Mile Plains for Michelle Lee at Ray White Rochedale, who sold the property under the hammer for $1.440 million in front of a crowd of 130 people and 17 registered bidders.
“Spring is shaping as a bumper time in Queensland if current supply and demand remain similar.”
81 Vale St, Wilston (pictured above)
Sold for $2.25 million
Five registered and two active bidders
Agents: Alistair Macmillan and Sam Hagen
Ray White Wilston
Auctioneer: Phil Parker, Ray White
“The sellers were investors from Melbourne who were planning to relocate but decided not to,” Mr Macmillan said.
“All the buyers we had looking at the house during the campaign were owner occupiers. The person who bought it wants to live in the house for a few years then knock it down and build a house across two blocks.”
Sold for $940,000 - $50,000 above reserve
Nine registered and seven active bidders
Agents: George Yang and Hamish Hooper
Ray White Sunnybank Hills
“It started at $700,000 and within three or four bids it went up to $850,000 then to the eventual sale price which is a suburb record for that type of house. It was a highly competitive, rapid fire auction,” Mr Yang said.
“We had two interstate bidders on the phone, with interest coming mainly from families and couples along with a couple of investors.
“The buyers (pictured above right with the sellers on the left) were a young family and this is their first home.
“It’s move-in ready, in a neat and tidy condition and in a great area. Salisbury is very much a young family area at the moment because it’s more affordable than suburbs like Tarragindi and those within the inner ring suburbs.”
Sold for $3.6 million
Six registered bidders and three active bidders
Agent: Greg Cahill
Ray White Applecross
Auctioneer: Patrick Derrig, Ray White (pictured below)
“The buyers were a young family looking to upgrade,” Mr Cahill said.
“This property is a bit of a ‘renovate or detonate’, some buyers wanted to renovate the property, while others were looking to knock it down and rebuild or develop it so buyers were looking at it from three angles.
“It’s a rare offering in a riverside suburb. It’s only about 500m from the river and across the road from a small park.”
4/23 Haig St, Tuart Hill (pictured above)
Sold for $620,000
Six registered bidders and five active bidders
Agents: Jannine Blum and Vicki Rizo
Ray White South Perth
Auctioneer: Mark Whiteman, Ray White
“The buyers were owner occupiers, they were a young family planning to renovate and add to the property. The majority of interest was from owner occupiers,” Ms Blum said.
“They loved the fact that it was a low strata property, double storey and one of only four. It’s pretty move-in ready, so nothing much needs to be done but there is still opportunity to add to it.”
Ray White South Australian chief auctioneer John Morris said Corelogic was reporting this as the busiest weekend of auctions for South Australia and most of Australia for 2023.
“We’re seeing impressive numbers looking around the festival state, I think there's almost close to 200 auctions going ahead and yet again the lion's share are being called by a Ray White agent,” he said.
“Interestingly, a lot of the other numbers are down. Bidder and clearance rate numbers are down, but they're down from such a huge vantage point from last year that they're still extremely impressive.
“Bidder registrations over the last couple of weeks have been six to seven per auction with three to four of those participating during the auction and the current clearance rate has remained above 75 per cent and stretching as far as 85 per cent at the highest point over the last few weeks.
“So even though it's down as I said from a very high vantage point, that means it's still impressive numbers.”
Sold for $931,000
11 registered and six active bidders
Agents: Jordan Ekers (pictured above with the sellers) and Peter Kiritsis
Ray White Woodville
“Bidders were a mixture of families and downsizers. In the end we had 89 groups through during the whole campaign and at auction bidding started at $700,000 before selling well above reserve,” Mr Ekers said.
“The buyers (pictured below) were a young family renting in West Croydon who had been looking for two years.
“Everyone loved the large shed, the manicured garden and the wide street. Albert Park is a booming suburb at the moment and a lot of people are looking here because it’s more affordable than surrounding suburbs like Woodville.”
34A Beauchamp St, Kurralta Park
Sold for $825,000 - $75,000 above reserve
14 registered bidders and six active bidders
Agents: Rod Smitheram (auctioneer) and Tom Hall
Ray White Glenelg | Brighton
“It’s a strong result for this type of property given its size but it’s close to the CBD and I think because it’s Torrens Titled and not attached anything next door that attracted a lot of buyers. There’s a lot of units in the area with strata fees,” Mr Smitheram (pictured below with the sellers) said.
“The buyer was a downsizer. We had a mix of downsizers, investors and first home buyers bidding because it’s right in the middle for all those buying groups.
“The auction started at $500,000 and quite easily got to $650,000 and then it went up in $25,000 lots. We would have taken around 40 bids.”
