Auction activity continues to increase across the combined capital cities, with Ray White’s dominant market share sitting at 23 per cent this week of the 3629 homes scheduled for auction nationally this week.
Ray White had 844 auctions scheduled in Australia this week, the leading group's largest week on record.
There’s nothing spooky about the fact Australasia’s largest real estate group once again recorded a preliminary auction day clearance rate of 83 per cent across the country for the 356 auctions booked today on Halloween eve.
Brisbane recorded the highest preliminary clearance rate of 94 per cent while Adelaide had the top number of bidders at 27 for a cute stone fronted four bedroom house in Mitchell Park and Sydney booked the highest volume at 112 auction properties.
Of the 356 scheduled auctions for Saturday, 222 proceeded to auction, with average registered bidders booked at 7.6 nationally and of those four active bidders on average.
Ray White New South Wales Chief Auctioneer Alex Pattaro said it was another exciting week as he continued to see a large number of buyers flock to Sydney auctions to secure a home before the end of the year.
“The influx of stock hasn't suppressed property prices, which gives sellers confidence they can buy and sell within the same market while achieving a great price for their home,” Mr Pattaro said.
“With the international border opening on Monday and more people returning home, it's likely that we see this momentum continue right through to the end of the year. And potentially into the early part of 2022.”
Ray White Woollahra | Paddington director Clay Brodie and agent Kate Smith today sold 14 Raleigh St, Coogee for $3.111 million to a young couple who had recently moved up from Melbourne.
Ray White New South Wales auctioneer James Kerley said there were four registered bidders in a close contest.
Mr Brodie said there were only four houses currently on the market in the whole suburb of Coogee and the suburb is very tightly held.
“A huge amount of enquiry came from young families, downsizers and investors. There’s not a lot of stock available in the whole eastern suburbs and it moves fast. Many of the conversations I am having with sellers is they are keen to go this year as no-one knows what is going to happen in 2022.”
(L-R) Ray White auctioneer James Kerley, Ray White Freshwater Principal Bernard Hachenberg, the buyer and his parents and Ray White Freshwater Principal Graham Bennett.
Ray White Auctioneer James Kerley today called the auction at 45a Oaks Avenue, Dee Why for marketing agents Graham Bennett and Bernard Hachenberg of Ray White Freshwater.
One lucky young man won the keys to the original semi on his 23rd birthday for $1.940 million, some $200,000 over its reserve.
The two bedroom home was a deceased estate and all proceeds will go to The Royal Institute for Deaf and Blind Children in Sydney (now known as Next Sense).
Agent Graham Bennett said there were five registered bidders and the auction opened at $1.7 million.
“It was a fast and furious auction among the three active bidders. There’s definitely a little bit more stock on the market now, which is good for buyers to have more choice and also gives sellers confidence that they can sell now too. Naturally more stock may compress prices but we haven't seen anything of that but who knows what 2022 holds,” Mr Bennett said.
Elsewhere Ray White Drummoyne agent Chris Wilkins today sold the top sale of the day at 44 Dening St, Drummoyne for $3.750 million after 10 buyers registered for the online auction.
“This was an A grade Drummoyne location with a highly sought-after north aspect. Buyers with families have been showing interest. Many plan to renovate the home in the future but the current property is ready to live in,” Mr Wilkins said.
"There were four bidders, a mix of locals and some from further away.”
Ray White Eastern Beaches Director Angus Gorrie today sold 44 Albion St, Waverley onsite for $2.466 million, some $366,000 over its reserve.
Mr Gorrie had overseen more than 88 inspections throughout the campaign. “So many young families want to get a foot into this area and the home also attracted builders due to the renovation potential,” he said.
There were six registered bidders and five of them were active in the auction.
“The sellers are happy and there’s still good momentum in the market. No-one appears shaken by the talk of interest rates moving up and stock is still down 21 per cent in Waverley, so competition is strong for good properties.”
In what is traditionally a quiet real estate weekend in Victoria for the Melbourne Cup long weekend, 2021 was the direct opposite with vendors, buyers and agents embracing the return of onsite auctions.
Ray White Victoria and Tasmania CEO Stephen Dullens discussed this increase in activity.
“As restrictions eased on Friday night to now allow up to 500 fully vaccinated attendees at an outdoor auction, this is very much a return to normal across Melbourne,” Mr Dullens explained.
“We all know Melbourne is the auction capital of Australia and we’re excited to once again be back on the street assisting our customers.”
While Melbourne has had the strictest real estate restrictions across the country, the market continues to perform extremely strongly and is expected to do so in the lead up to Christmas.
“Since restrictions have eased in the last month, we’ve seen a huge increase in new listings hit the market - in fact, the last few weeks of new listings have been some of our strongest on record,” Mr Dullens said.
“The Ray White Group have conducted close to 200 auctions across Victoria this week, significantly more than we’d normally see at Melbourne Cup time and a sign once again of the pent-up demand in the market.
“We look forward to continuing to assist our customers in what will no doubt be a very busy few months,” Mr Dullens concluded.
Ray White Victoria Chief Auctioneer Matt Condon said more and more sellers were choosing to move their auctions on site with Melbourne's electric auction atmosphere once again returning to the streets.
The crisp weather saw healthy crowds attend each auction with buyers, spectators and neighbours alike arriving to witness Victoria's strong real estate market.
“Based on preliminary data from the Ray White Group we have seen another increase in the average number of active bidders per auction, with competitive bidding continuing even once properties were announced on the market with the high level of demand for quality property,” he said. “We're expecting strong auction results to continue for the remainder of 2021.”
At 6 Carmichael Road, Oakleigh East, Ray White Oakleigh sales agent Leigh Kelepouris signed up a whopping 21 registered bidders for his online auction.
“We had great numbers, and it sold for $1.420 million, some $220,000 over its reserve. It was a bittersweet sale for the sellers but the buyer is so happy and he’s planning to build his family home there in a few years, as it's opposite a great park.” There were 40 private inspections on the property during its campaign.
Ray White Cheltenham agent and auctioneer Kevin Chokshi today sold 2/7-9 Kayden St, Cheltenham for $715,000.
There were five registered bidders, all first home buyers and young couples plus investors. Mr Chokshi conducted more than 50 private, one-on-one inspections and it sold some $75,000 over its reserve for its seller.
Later over at 19 E Oak Ave Cheltenham Mr Chokshi sold the property sold for $170,000 over its reserve. “It’s a nice single level fully renovated house. The sellers are over the moon.”
Meanwhile, on Friday night, Ray White Patterson Lakes Principal Genevieve Hill conducted a hugely successful onsite and online hybrid auction at 25 Illawong Ct, Patterson Lakes with Ray White Victoria Chief Auctioneer Matt Condon.
The property had only been on the market for 10 days with Ms Hill’s phone running hot the whole time.
It was originally a private sale but after the first weekend of private inspections Ms Hill had 39 groups through and she convinced the vendor to convert to auction.
“They were very hesitant but were open to the idea of a short auction campaign and so the house was only on the market for 10 days,” she said.
It sold for $1.360 million, some $110,000 over its reserve, to a young family from Yarraville who were bidding online from some 45 minutes away.
“I had more than 80 email enquiries through the portals. It was a very short campaign but there were eight registered bidders and five active bidders on the night,” she said.
“Buyers loved the lifestyle aspect with lake access and entertaining space and the bar set up. Also the renovations were nicely done.”
Elsewhere Ray White Cheltenham agent and auctioneer Angela Limanis today sold 1/60 Wilson St, Cheltenham for $1.165 million after seven buyers registered to bid.
“The auction flew. The reserve was $1,030,000. It started very strong and hit reserve in what felt like just a minute! The winning buyers are a family from Armidale and their kids are enrolled in the local schools in Cheltenham, and they were absolutely thrilled.
“There were lots of disappointed underbidders and I felt for them but there can only be one winner.”
“The biggest buyer demographic showing interest in the property has been first home buyers, however there have been some second home buyers enquiring. The buyers have all been very keen to move in before Christmas and with the home being vacant this is possible,” she said.
Ray White South Australia Chief Auctioneer John Morris, pictured above at 15 Bailey St, St Mary’s which today sold for $876,000, said the only thing spooky about today was how consistently Ray White always outstripped the competition when it came to auctions.
“Many people may be celebrating Halloween this weekend across Australia but there’s nothing spooky about our results,” Mr Morris said.
“We've got 26 per cent market share of all auctions within South Australia this week and so far the clearance rate is well in excess of 95 per cent and we’ve got nine registrations per lot on average. We have bidding on everything with four active participants per auction. Every auction I've called this week has sold under the hammer and sold for well above reserve.”
Ray White Norwood agent Brandon Pilgrim today sold this popular 1880s three bedroom cottage at 49 Glyde St, Beulah Park for $1.005 million, well over its $850,000 reserve.
“It’s a popular area, and the sellers are upgrading as they have two children and need more room,” Mr Pilgrim said.
“The house had appealed to a range of buyers but especially young professionals. It’s in a desirable spot and represents the perfect home to start a family and grow into. The sellers are upsizing as they need more space for their family,” he said.
There were 14 registered bidders and five active bidders. The new buyers were over the moon as it had taken them two years to secure their first home.
Reece Pilgrim with his sellers of 8 Lancaster Ave, Colonel Light Gardens
Reece Pilgrim of Ray White Norwood today sold 8 Lancaster Ave, Colonel Light Gardens for $925,000, some $100,000 over its reserve.
There were 11 registrations and four active bidders competing for the two bedroom Tudor style home on 600sqm of land
“We had one interstate investor on the phone and the rest were local buyers. The market is feeling very strong as we see no change between now and the end of the year. We have more stock coming on to replace what we are selling and everything feels great,” he said.
Meanwhile there were a whopping 27 registered bidders vying for 21 Waterman Tce, Mitchell Park, sold by Lawrence Cocca and Stefan Siciliano of Ray White Norwood. Despite running out of bidder paddles the pair sold the home for $845,000 under the hammer.
The happy sellers of 4 Beauval St Kedron with Andrew Flanagan
In Brisbane, Ray White Ascot sales agent Andrew Flanagan today sold 4 Beauval St, Kedron for $1.1 million to a Sydney investor who bought it sight unseen.
“The winning buyer was on the phone and had only seen the property during a Facetime inspection given the border restrictions. There were 12 registered bidders in total and the sellers - who had done a fantastic renovation after they bought the house in 2014 - are moving up the coast.”
Meanwhile, Mr Flanaghan also sold the adorable Queenslander at 12 Lincoln St, Wilston today at auction for $1.45 million to a first home buyer couple.
Wilston has long been a popular suburb due to the proximity to the city while still being a family-friendly area.
As the property is close to the Wilston cafe precinct it attracted investors as well as local owner occupiers looking to get into the suburb.
Mr Flanagan had taken more than 100 groups through open homes, and there were a whopping 24 registered bidders fighting to secure the keys.
“This house has been very popular with first home buyers.”
