Auction wrap from around the grounds

BUYERS were basking in the winter sun across Australia today as bidders flocked to Ray White Group's 143 scheduled auctions.

The nation's largest auction house booked a preliminary auction day clearance rate of 72.2 per cent, with an average of 4.1 registered bidders per auction.

But it was Victoria that stole the limelight with the leading group's preliminary data showing a massive auction day clearance rate of 87.1 per cent and an average of 4.7 bidders per auction.

Ray White Victoria/Tasmania Chief Auctioneer Matthew Condon said it was one of the best Saturdays of the year for Melbourne in terms of auctions.

"Winter 2019 is proving to be a great time to be selling a property and that's reflected in the strong clearance rates we've seen today," Mr Condon said.

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"The clear weather really brought bidders and buyers out in to the open and we're seeing this trend where people want to get their property bought before spring selling season begins.

"Stock levels remain quite low which means the competition for properties is high and that's highlighted in yet another increase in the number of active registered bidders."

The perfect example of Victorian success was the $1,010,000 sale of 4 Burch Street in Blackburn North (above), led by Ray White Forest Hills Sales Consultant/Auctioneer Aaron McDonald.

"This property was a roaring success with the hammer coming down at a massive $190,000 over the vendor's reserve, so they are obviously delighted," Mr McDonald said.

"We had five registered bidders on the day with all of them active and the buyer, a local investor, will rent it out before building their dream family home.

“There’s currently a shortage of stock which means the competition is strong when homes hit the market. It’s a great time to be putting your property up for sale.

“We’re seeing banks open the doors again and lending money so both buyers and vendors are confident to buy and sell again.

“Clever buyers are trying to get in before the spring selling season erupts.”

Not satisfied with selling just one property under the hammer today, Ray White Ferntree Gully Director Ben Thomas went one better, by selling two properties within four hours of each other.

2A Derby Road in Boronia (above) sold for $725,000 and 23 Castricum Place (below) in Ferntree Gully sold for $705,000.

"Derby Road in particular was an excellent result, selling for $45,000 over the reserve price to a young couple who were first home buyers," Mr Thomas said.

"The lady was here bidding and her partner had to sweat it out on the phone from overseas, but they were delighted when the hammer finally fell.

"We're seeing inspection numbers higher now than they have been in a couple of years, with real competition for pretty much every property.

"If you're thinking about selling your property there's no doubt that now is the ideal time to be putting it on the market because of the stock levels."

The success was spreading across the state of Victoria and continued in Cheltenham where 56 Benkel Avenue (below) was sold under the hammer for $930,000, $40,000 over the reserve.

“With the recent suite of measures introduced the obstacles have been taken away from buyers and there really is no reason to say no to purchasing right now,” said Ray White Cheltenham Chief Auctioneer Kevin Chokshi.

“This home was previously on the market for three months with other agents and the highest offer they were able to achieve was $875,000.

“We’ve certainly seen families coming out of the woodwork to buy again, and the style of this property as well as the school catchment area, really appealed.

“The deal was sealed when the little boy of the eventual buyers walked out into the yard and said ‘this is perfect for my own little basketball court’, how could the parents say no?”

Over in South Morang and another over reserve sale was taking place with Ray White Epping Agent/Auctioneer John Metaxas selling 10 Kinkora Crescent (below) for $745,000.

"We had more than 90 groups through the open homes and nine registered bidders on the day, so it isn't surprising the property sold for $85,000 above reserve," Mr Metaxas said.

“There’s no doubt confidence is higher since the election result and other sweeteners like the interest rate cuts, and you can clearly see that with the numbers coming through the opens.

“When you have a great property that’s priced correctly, that creates competition in the auction environment, and the vendor was very pleased with the final sale price.

“A local family were upsizing to a more modern home and loved the fact it was close to the Westfield shopping centre, the great transport options and also the school catchment area.”

Ray White NSW Chief Auctioneer Alex Pattaro said families in particular were coming back into the buyer's circle this week.

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"Local families are trickling back into the market place and we've certainly seen a rise in this demographic through open homes and at auctions today," Mr Pattaro said.

"Whether it be upsizing, downsizing or upgrading, our preliminary data shows that auction attendance is holding firm at 45 attendees per auction on average."

The largest preliminary sale of the day was in Earlwood where Ray White Petersham Director - Selling Principal Nicholas Arena sold 2A Collingwood Avenue (above) for $1,675,000.

“You can feel the market is starting to move in the right direction, and with confidence rising among buyers again, you can see people willing to make their move,” Mr Arena said.

“We had 80 groups through the opens, pretty much all families, and that culminated in 10 registered bidders and a sale price $75,000 over reserve.

“It’s a really good time for upsizers to buy and that’s exactly what’s happened here, with a local family increasing their footprint and buying a bigger property.

“The home itself was a great blank canvas, really well-built and offered a buyer a stack of scope for further improvements and modernisation.”

Ray White Cabramatta Sales Manager Steven Milovanovic continued the trend of selling over the reserve as he orchestrated the $820,500 sale of 36 Huon Street (above).

“This was a terrific result for the vendor, with nine registered bidders battling it out, as the home sold for $20,500 over the reserve price,” Mr Milovanovic said.

“More than 100 people came out to the auction and that’s easily the highest attendance we have had all year.

“As an agent, it’s exciting to see both interest and buyers coming back to the market, and competition for tightly-held pockets is getting more fierce.

“It also goes to show that $500 can be the difference between buying and losing out on a property. It doesn't matter how small the bid is, as long as you are the final bidder.”

Ray White QLD Chief Auctioneer Mitch Peereboom congratulated agents across the Sunshine State as preliminary data suggested strong results throughout the day.

"What we're seeing is a lot of energy from our agents to be getting buyers to auction and helping them through the process," Mr Peereboom.

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"That's translating through to sellers having the opportunity to sell unconditionally on auction day and benefiting from getting the highest price through competition."

The biggest preliminary sale in Queensland was at 33 Constance Court (above) in Newport where Ray White Redcliffe Business Owner Andrew Campbell sealed a $1,475,000 sale.

“This a lovely story because the older couple that purchased the property were helped over the line because they had friends already living in the street,” Mr Campbell said.

“Other than the obvious luxury of the property, the fact the home was high-mast meant you could have a good-sized yacht at the end of the pontoon.

“Built in 1998, the vendors maintained the property well and that came through in the quality we were able to present to the 60 groups that came through the open homes.”

Over in Moorooka, Ray White New Farm Sales/Marketing Consultant Karla Lynch successfully sold 54 Goodwin Terrace (above) over reserve for $720,000.

“We had 80 people attend the auction today with nine registered bidders battling it out for a property that is in one of Moorooka’s best streets,” Ms Lynch said.

“The bidding started at $500,000, and it took another 14 bids and an extra $220,000 for the hammer to come down, with a young couple walking away with the keys.

“The home offered a beautiful vista out to the city, had the typical Queenslander character and is approximately a 15-minute drive from the CBD.”

Not to be out-done, South Australia also saw some great results, with 6 Angas Street (above) in Alberton selling for $750,000.

"This was a particularly popular property with over 70 groups through the opens translating into three registered bidders on the day," said Ray White Port Adelaide Principal Nick Psarros.

"The buyers were looking to find their perfect home for more than three years and I'm really pleased they were able to finally find it and buy it today.

"The character, charm and high ceilings were real drawcards and being in a great community and in between two reserves also really appealed."

And the South Australian success continued as Ray White Woodville Sales Agent Mark Bowden sold 78 Lewis Crescent (above) for $670,000.

"The size of the home was the main appeal with great living areas both inside and outside of the property," Mr Bowden said.

"The market here is positive and buyers are back out there bidding and you can definitely see that people are sitting on their hands far less now.

"The western suburbs are always popular for both price and location because of the proximity to both the city and the beach and the excellent transport links."

It was also a history-making week for Ray White in South Australia as 23 Stroud Street South(above) in Cheltenham became the first auction property in the state to be sold online via Gavl.