Australasia’s leading auction group had 420 auctions scheduled today, recording a preliminary auction day clearance rate of 72 per cent. Those who took their properties through to auction day received 11.5 per cent higher than any offers received prior to the auction.

With strong auction activity in full swing across the nation, there was an average of 4.3 registered bidders and 2.8 active bidders attending Ray White auctions.

The top auction sale was in the Sydney suburb of Bondi Beach. Ray White Double Bay principal Elliott Placks sold 13/2-2A Francis Street, Bondi Beach under the hammer for $2,820,000, achieving $320,000 over its reserve.

Meanwhile the auction with the most registered bidders was in South Australia. Peter Kikianis of Ray White Semaphore registered 26 bidders at their 29 Recreation Pde, Semaphore Park auction, which sold for $926,000, achieving $176,000 over reserve.

SYDNEY

Ray White New South Wales State Auctioneer Perry Edmondson-Clark said it was an incredible day of auctions across Sydney today, with strong performance across all segments in the market.

“We continue to see auction numbers grow week on week, as momentum builds in spring and tends to stay consistent for the remainder of the year. With steady active bidder numbers, it just goes to show that there are buyers that are in the market, and ready to purchase.”

“Auctions continue to give our sellers the best opportunity to achieve the market’s premium price. It’s critical for all sellers considering or currently bringing their properties to the market, to recognise auctions as the best method to achieve the best price there is on offer.”

4 Manuka Ave, Baulkham Hills

  • Sold under the hammer for $1,695,000 - $35,000 reserve

  • Eight registered bidders, six active

  • Lead agent: Brandon Hay - 0434 986 284

  • Ray White Baulkham Hills

  • Auctioneer: Tim Snell, Ray White

It was a case of locals wanting to stay local in today’s Baulkham hills auction. After the seller had been living in his home for the last 25 years, he decided to downsize and move over to the neighbouring suburb.

The lucky buyers, out of a competitive six bidder auction, were a young local family who live only a few streets away, planning to lease out their new investment. Another local family who only just missed out on the property, only lived down the road, but were looking for their chance to renovate.

“By taking the property to auction, the homeowner received almost $200,000 over the highest offer received prior to auction day,” Mr Hay said.


1/5 Neptune St, Coogee

  • Sold under the hammer for $2,510,000 - $510,000 over reserve

  • Three registered bidders, Three active

  • Lead agent: Angus Gorrie - 0418 282 853

  • Ray White Eastern Beaches

  • Auctioneer: James Hayashi, Ray White

Mr Gorrie said the auction was absolutely phenomenal, securing an additional $500,000 over reserve under the hammer today.

“The auction was pumping, kicking off with a strong opening bid and with all three interested parties participating in the auction for this Coogee two-bedroom unit,” Mr Gorrie said.

"All three bidders were considered downsizers, which we're seeing a lot of in today's market. While the sellers were a pair of investors who owned the property for 20 years and decided now that the rates are on hold until spring, the time to sell was now. They are over the moon, as it was clearly way over expectations and a breakaway price for the area.”

40 Dransfield Avenue, Mascot

  • Sold under the hammer for $2,455,000 - $205,000 over reserve

  • Five registered bidders, Three active

  • Lead agent: Amy Vella - 0420 573 996 and Anthony Vella - 0412 232 904

  • Ray White Maroubra | South Coogee

  • Auctioneer: Perry Edmondson-Clark, Ray White

This father daughter duo sold a Mascot property under the hammer for an incredible $205,000 over reserve, also claiming the new street record, previously sitting at $1.9 million.

“With an opening bid of $2.1 million, the three bidders, all local couples, were actively participating in the entire auction with strong bids all the way to the finish line,” Ms Vella said.

The lucky buyers were one of the young competing couples wanting to start a family, and after property searching for some time can now settle down.

“It was an emotional sale, with vendors extremely happy with the result but leaving their family home after living there for over 20 years, having brought up their three now grown up children. They will now be looking to downsize to an apartment somewhere close by.”


MELBOURNE

Ray White Victoria chief auctioneer Jeremy Tyrell said the real estate market had sprung to life as auction volume surged this week, following the AFL Grand Final weekend, with 228 auctions scheduled across the state and a clearance rate of 77 per cent.

“Buyer activity also surged as we recorded three active bidders on average across the network, which is an indication that a fourth consecutive hold on interest rates is stimulating buyer confidence and competition on auction day.”

“With the Spring Racing carnival in full swing and the Melbourne Cup the only disruption between now and the end of the year, these current conditions are set to continue.”

27 Smith St, Noble Park

  • Sold under the hammer for $740,000 - $80,000 reserve

  • Five registered bidders, Two active

  • Lead agent: Leigh Kelepouris - 0422 283 480

  • Ray White Oakleigh

  • Auctioneer: Robert Cincotta, Ray White

The auction method proved once again to be our greatest method of sale, this time for one of our very own. Ray White Oakleigh’s Penny Costa was the happy seller today, taking in almost $100,000 over reserve.

“With the opening bid immediately reaching the reserve, it knocked out half of the bidders, but when two people really want it, the competitive nature of auctions allowed them to go head to head which pushed them to the end result,” Mr Kelepouris said.

The young couple who ended up buying their first home are expecting a baby in March. They were previously renting not too far away, and had already missed out on a few places already. After following the market for a couple of years, they decided now was a good time to buy.

7/18 The Corso, Parkdale

  • Sold under the hammer for $715,000

  • Five bidders

  • Lead agent: Trevor Bowen

  • Ray White Cheltenham

  • Auctioneer: Greg Brydon, Ray White

After attending to firefighter duties until early this morning, Trevor was ready for today’s auction drawing a huge crowd of 74 people at this two-bedroom unit.

The overjoyed seller was a pregnant woman who bought a home from Mr Bowen about a year ago, and had completed a renovation with her father, a firefighter comrade of Mr Bowen, and had moved in with her husband.

“The lucky first home buyers were a lovely young British woman and her boyfriend, who woke her father up with a phone call at 3am to let him know of the great news,” Mr Bowen said.

“It was such a surreal experience, with everyone in tears we’ve never had an auction where both parties are fueled with emotion and it was great that they got to share that moment together, after a very welcome meet and greet.”


3/38 Rosella St, Murrumbeena

  • Sold under the hammer for $610,000 - price guide $490,000-530,000

  • Five bidders

  • Lead agent/auctioneer: Tom Grieve - 0417 377 586

  • Ray White Carnegie

Mr Grieve said the owner couldn’t believe the result, jumping up and down in excitement once the hammer dropped over $80,000 above the price guide. They will now be relocating out of the area to be closer with family.

After a rapid and exciting auction, the young couple moving in are first home buyers.

“The building already had seven out of eight units owner occupied, and the neighbours were thrilled to see yet another owner occupier move in as opposed to an investor,” Mr Grieve said.

BRISBANE

Ray White Queensland chief auctioneer Gavin Croft said we remain consistent in auction numbers this week with 46 compared to 45 in Brisbane for Ray White Queensland last week.

“Lack of choice for buyers is resulting in some wonderful outcomes for sellers right now. There is pent-up demand, with an average of seven registered bidders per auction last week, the narrative will continue this week.”

“With our clearance rates sitting at over 75 per cent over the last two weeks, this is a wonderful marketplace for sellers. Those that continue to choose the auction path in Queensland, and in Brisbane particularly, are being rewarded.”

“We are seeing the same energy and the same sophistication in Brisbane that our southern markets in Sydney and Melbourne see, which will remain in the following weeks.”

55 Goskar Ave, Alderley

  • Sold under the hammer for $1,561,500 - $11,500 over reserve

  • 10 registered bidders, six active

  • Lead agent: Jessie Hall - 0422 169 981

  • Ray White Wilston

  • Auctioneer: Phil Parker, Ray White

Ms Hall said that out of 10 registered bidders, the auction saw two young couples both battling it out until the very last knockout bid of over $1.5 million, knocking out the other potential buyer.

“The previous homeowner of 43 years, was very happy with the result achieved, and is now downsizing, moving further north to be closer to his children,” Ms Hal saidl.

“The location of the property brought 80+ groups through the campaign, so we’re seeing plenty of activity in the market right now.”

43 Ingluna Circuit, Eight Mile Plains

  • Sold under the hammer for $1,651,000 - $231,000 over reserve

  • 19 registered bidders, nine active

  • Lead agent: George Yang - 0488 199 888

  • Ray White Sunnybank Hills

Mr Yang reached a new suburb record for single storey homes in Eight Mile Plains, at a sale price of $1,651,000 under the hammer, reaching $231,000 over reserve.

“The sellers are ecstatic, only needing $1.4 million for the next property purchase, they needed to hit a certain price point and the auction worked well in their favour,” Mr Yang said.

“Being such a sought-after neighbourhood, there were plenty of interested buyers who walk in and register on auction day, and bring heat to the competitive bidding.”

After believing the property would sell to the auction’s overseas bidders, a local couple who had been searching and actively bidding in auctions over the last few months secured their new home.

68 Ulinga Cres, Parkinson

  • Sold under the hammer for $1,570,000 - $270,000 over reserve

  • 16 registered bidders, 10 active

  • Lead agent: Jason Song - 0433 572 868

  • Ray White Logan City

Mr Song said it was an emotional sale with the original owners, a husband and wife, overjoyed with the sale result of their home.

“After a massive auction, reaching 36 live bids with some not even getting the chance to raise their paddles up, a local buyer upgrading from their current property made the purchase on auction day,” Mr Song said.

ADELAIDE

Ray White South Australia Chief Auctioneer John Morris said that yet again buyers around the state were showing extreme confidence in the market, and are continuing to turn up at auctions in their droves.

“We saw an average of seven registered bidders, with around 50 per cent of those actively participating.”

“Reports are showing this is the busiest week of auctions since May 2022, with the increase in listings doing very little to dampen the clearance rates which still sit over 70 per cent for scheduled auctions. Although this is slightly down from last week, they are still extremely impressive numbers, with seven out of 10 properties selling either before or on auction day.”

“The confidence in the market is still extremely strong and the sellers who are thinking of selling at the moment should absolutely be considering going to auction within the current climate. Put those buyers in a competitive environment and let them battle it out to get the best possible price for your property.”

29 Recreation Pde, Semaphore Park

  • Sold under the hammer for $926,000 - $176,000 over reserve

  • 26 registered bidders, 10 active

  • Lead agent: Peter Kikianis - 0417 834 648

  • Ray White Semaphore

  • Auctioneer: John Morris, Ray White

“This multi-generational 1960s home, in a beautiful seaside location, drew in 26 interested bidders with strong bidding behaviour, resulting in a sale that exceeded $176,000 over the reserve price,” Mr Kikianis said.

“The family who sold the home were ecstatic with the result reaching far beyond their expectations, and even more content with the people who bought it.”

The local family who went head to head against a pool of developers, looking at building multiple dwellings on the one site, secured their home with intentions to build their home and continue enjoying their beach lifestyle.

10 Darebin Street, Mile End

  • Sold under the hammer for $1,100,000 - $150,000 over reserve

  • 11 registered bidders, four active

  • Lead agent: Daniel Seach - 0423 598 964

  • Ray White Black Forest

This beautiful sandstone-fronted cottage with an open plan entertainer’s dream, sold for $1.1 million under the hammer. Achieving well above the seller’s dream result, they can now carry out their plan to downsize to their apartment in the CBD and travel.

“What an auction! There were almost 80 groups through initial inspections, not including second, third and even fourth inspections. We’re seeing common interest in today’s market, with well presented, ‘ready to move in’ type of properties achieving the premium right now,” commented Mr Seach.

Among all local bidders and with two in particular battling it out at auction, the eventual buyer was a third party who waited for his opportunity and placed a late bid to secure the home, conveniently moving them over from the next street.

24A Vinall St, Dover Gardens

  • Sold under the hammer for $950,000 - $50,000 over reserve

  • 18 registered bidders, six active

  • Lead agent: Chris Daley - 0422 465 689 and Adam Keane - 0421 225 630

  • Ray White Glenelg

  • Auctioneer: Rod Smitheram, Ray White

A cracking auction unfolded in Dover Gardens, with well placed bids reaching a $950,000 result under the hammer.

Mr Daley said the owners were over the moon, being a young couple who only built the home a couple of years ago, now making a great return on investment.

“The woman who purchased the property only just missed out at another Ray White auction in Seacliff Park the week before, and only saw this property yesterday, decided to come to the auction and eagerly bid on herself three times to secure the home,” Mr Daley said.

7 Cavendish Street, West Croydon

  • Sold under the hammer for $970,000

  • Nine registered bidders, six active

  • Lead agent: Peter Kiritsis - 0411 501 520

  • Ray White Woodville

An excellent auction between six hopeful bidders sold to a local young couple, who were looking to upgrade from their townhouse property nearby.

The sellers were thrilled with their result, after building this beautiful family home around nine years ago and passing it onto the next family. Due to their growing family, they recently purchased another nearby property from Mr Kiritsis that they will now knock down and rebuild again.

“It’s lovely to see exchanges between local families. Once you’ve experienced this neighbourhood, it’s hard to separate yourself from the area and everyone remains quite local,” Mr Kiritsis said.

12 Westbury Crt, Oakden

  • Sold under the hammer for $898,000 - reserve $33,000

  • Seven registered bidders, three active

  • Lead agent: Damien Fong

  • Ray White Norwood

  • Auctioneer: George Kargiotis, Ray White

50 Regent St, Kensington

  • Sold under the hammer for $1,259,000 - $59,000 over reserve

  • 10 registered bidders, five active

  • Lead agent: Nick Borrelli - 0432 270 893

  • Ray White Campbelltown


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