A buyer’s market for young families

AUSTRALIA’S auction market continues to ramp up in 2020 with 166 properties scheduled to go under the hammer this Saturday.

First time home buyers and young families are in luck this week with many of the hottest properties aimed squarely at their corner of the market.

Agents are expecting competitive bidding across the country but Ray White Lutwyche’s David Lazzarini said this shouldn’t deter people from showing up and bidding because they’re selling on the day and Sunday is too late.

Mr Lazzarini is representing Brisbane north side property, 35 Thirteenth Avenue in Kedron, which is up for auction this weekend after a three week campaign.

“The home is in a very sought-after area and is probably one of the last lots in the avenues of Kedron that has two separate titles as well as being a post war home,” Mr Lazzarini said.

“This is great for buyers as it means you can remove the home and build two homes using two separate titles.

“We’ve had very strong interest and do expect strong bidding on the property and why wouldn’t there be?”

Also on the north side is an original 1900’s Queenslander at 23 Sixth Ave, Windsor which is scheduled to go to auction this weekend after a four week campaign.

“The Queenslander is a high set home on a decent sized block but the real feature is the full, unrestricted view of the city,” said Ray White Wilston principal Alistair MacMillan.

“The Windsor area is very tightly held and it’s very difficult to get fully renovated properties in the area as people just don’t sell, so we’re anticipating a highly competitive auction and are expecting to sell.”

Victoria will be well represented on the auction scene this Saturday with 59 properties ready to be sold to the highest bidders.

Ray White Ferntree Gully agent Matt Morris is particularly confident about 33A Gaydon Street, which he said should do well after a successful 20 day auction campaign.

“There have been a lot of first time home buyers coming through since the new year with the incentives available enticing them to hit the market with confidence in 2020,” he said.

“The Ferntree Gully area has seen a positive increase in the last six months with a 70 per cent reduction in properties available, which is why we’re seeing such high demand for these types of homes.”

Mr Morris is also confident about the 22 Woodmason Road, Boronia property going to auction on Saturday which he said has been popular with first home buyers, investors and developers alike.

South-east of Melbourne, Ray White Cheltenham director Kevin Chokshi is representing the 36 Wingrove Street, Cheltenham property through a five week auction campaign set to end this Saturday.

“The property presents beautifully and has a really good floor plan with two bedrooms in the front and two in the back,” Mr Chokshi said.

“During the campaign we’ve had a lot of interest from young couples and families who are looking for their next step.

“Due to this interest we think it will be a really competitive auction that’s looking very positive.

“We’ve had a lot of success in the area over the last six months with several auctions last year that went really well.

“It’s also the first family home for us of 2020 so we’re hoping it sets a benchmark for the rest of the year.”

Victoria’s Ray White Seddon director Peter Gindy said he is expecting a great result from two auctions in the area at 11A Bizana St, West Footscray and U6/15 Eucalyptus Drive, Maidstone.

“We’ve had almost exclusively first home buyers going through the Maidstone property and a mix of first home buyers and investors to the West Footscray townhouse,” Mr Gindy said.

“We’re quite confident about this weekend for both properties as we’ve had a 100 per cent clearance rate over the past six months in the area and a lot of interest coming in.”

New South Wales will be close behind Victoria with a strong showing of 58 properties going to auction, including the four bedroom 53 Dorothy Street, Wentworthville property represented by Ray White Parramatta’s Amit Nayak.

“The property really stands out because of the size and width of the block, which is bigger than what you normally see in Wentworthville,” Mr Nayak said.

“We’ve had a lot of interest during inspections with the buyers who are mainly local looking to upgrade - in particular families and young couples - so this weekend should be quite competitive.”

Ray White Surry Hills associate director Matthew Carvalho is expecting huge interest at the 9 Forsyth Street, Glebe auction this weekend, and said they have had more than 180 groups through over four weeks.

“It’s been on the market for four weeks but it was originally a five week campaign and has been brought forward due to the interest,” Mr Carvalho said.

“Supply is still tightly-held in the Glebe area and everything we’re listing is selling so we’re confident this one will have a great result.”

In South Australia, Ray White Port Adelaide’s Nick Psarros is hoping to continue his success after former SA Premier, Jay Weatherhill’s Alberton home sold well last weekend.

Mr Psarros said he is confident that the 6 Fussell Place, Alberton property will be a winner.

“The home has that blue stone character that’s so well known in Alberton and it’s in the heart of the suburb - it’s got the fireplace, mantle and polished floors that everyone is crazy about,” Mr Psarros said.

“We’ve had a lot of interest, especially on the back of Mr Weatherhill’s property sale so we’re getting good numbers and expect a big auction.

“We’re expecting young families with kids that are school aged to take advantage of the great catchment area and people looking to be in the parklands.”

Also in South Australia, Ray White Norwood sales executive Nick Borrelli said first home buyers and upsizers will be out in force for the 30 Kingston Avenue, Daw Park auction.

“The property has recently been updated and doesn’t need anything done to it, so it’s perfect for young families and first home buyers,” Mr Borrelli said.

“We’ve had strong levels of interest with the majority coming from first and second home buyers looking to upsize.

“Just looking at the numbers we’ve seen coming through for inspections, we’re expecting some fairly competitive bidding, including from a few groups that have missed out previously and looking to throw their hat in the ring for this one.

“The area is a really high demand spot and has a really high auction clearance rate.”

In Adelaide’s western suburbs, Ray White Glenelg property sales consultant Rod Smitheram is seeing a lot of auction success and expecting a great result for this three bedroom 26 Thain Avenue, Findon property.

“I’ve had around 50 groups through and the vendor’s expectation is very reasonable,” Mr Smitherham said.

“Several Ray White offices including our Flinders Park office have had plenty of success in the area and actually hold market share.”

In Western Australia, Ray White Dalkeith I Claremont selling agent Peter Kasten said that the three bedroom 4 Norman Street, Wembley Downs property has had significant interest since being put on the market.

“We’ve had a large number of unique groups inspect the property over two weeks,” Mr Kasten said.

“This property is desirable because of its location, land size and the ability to subdivide at a future date.

“It’s ideally suited to a family looking to live in the home for 10 to 15 years and then subdivide into two parcels of land.”