After election Saturday last week, bidders and buyers were back out in force today as Ray White had 310 auctions booked across the country, with a preliminary national auction day clearance rate of 63.2 per cent for the leading group.
Some 30 people attended Ray White’s auctions on average, which is the consistent crowd size of 2019, with 3 registered bidders per auction, which is a touch higher than normal.
Ray White QLD Chief Auctioneer Mitch Peereboom said it had been a great day of auctions for Ray White Queensland with clearance rates really strong across the group.
"This indicates buyers are definitely out in force," Mr Peereboom said.
"We noticed the bidding was very active, but more importantly, the buyers are bidding at levels where the sellers feel really comfortable in selling."
"There is great energy in the market post-election."
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Ray White NSW Chief Auctioneer Alex Pattaro said there was a noticeable change in atmosphere at his auctions this week with buyer buzz back in abundance.
"There’s no doubt last week’s election has had a positive effect on auctions across NSW today, just the whole feel of things has changed from two weeks ago," Mr Pattaro said.
"It seems the market has responded in a great way and that’s evident in the attendance numbers being up and an increase in open home numbers.
"There’s more confidence in the market and the monetary system as a whole and there was certainly a feel-good feeling on the ground today."
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Ray White Victoria and Tasmania Chief Auctioneer Matthew Condon said Victoria had seen a lot of confidence in the real estate market from both buyers and sellers.
"Across the board, crowd attendance was up, and for the second week in a row we've actually seen on average a high number of active bidders per auction.
"Early data from Ray White Victoria shows we're set for a strong clearance rate."
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The positive theme from around the country was certainly felt in NSW where Ray White Taylor and Partners Sales Agent Jeremy Brink sold a three-bedroom, two-bathroom apartment in Rushcutters Bay for $2.415M at 311/1A Clement Place.
"There's no doubt that buyers have found a sense of renewed confidence since the election," Mr Brink said.
"We had 90 groups through the door during the five-week campaign and issued 12 contracts.
"We had five registered bidders on the day, three of which were active, before coming down to the final two. The hammer finally came down at $2.415M, over the reserve."
The NSW feel-good factor continued at 302/11-23 Gordon Street in Marrickville, where the two-bedroom apartment sold for $1.25M through Ray White Erskineville's Associate Director and Senior Sales Executive Matthew Carvalho.
"You can feel on the ground that there's a renewed energy since the election," Mr Carvalho said.
"This one was a particularly great story, the buyer actually lived directly across the hall and was hoping one of the apartments would come on the market.
"It's one of just eight apartments to have a balcony out of 104 units in the block and sold 25 per cent over the reserve."
The NSW hat-trick was complete as Ray White Erskineville's Sales Executive Nathan Briggs sold 15 St Marys Street in Camperdown under the hammer for $1.685M.
"A lot more people are coming out now to view properties now there's more stability in the market," Mr Briggs said.
"We had two registered bidders on the day and a single lady ended up buying the property.
"The campaign had excellent numbers and being such a great neighbourhood, there was a real buzz around the auction."
Ray White New South Wales Blue CEO I Auctioneer Jason Andrew, who auctioned all three properties, said there was a completely different feel to pre-election auctions.
"I honestly haven't seen anything like it in my career - the contrast to two weeks ago is incredible," he said
"You could feel the buzz and the confidence on the ground as bidders competed against each other for all three properties.
"The crowd numbers across all three auctions was great to see as people seem to be regaining their property appetite."
The positive feel continued across the boarder in to Queensland where Ray White Wilston's Sales and Marketing Brooke Copping sold 31 Allan Street in Kedron under the hammer for $785,000.
"This was the property of 4BC's Kevin Turner, but it wasn't just radio waves linked to this sale, you could feel the wave of post-election positivity," Ms Copping said.
"There was a great vibe and of the five registered bidders, three battled out it, with a Sydney investor having the winning bid.
"There were around 70 people in attendance and there was a great vibe throughout the auction."
Ray White Holland Park Property and Marketing Consultant Scott Hay rode the election wave and used social media to help sell 24 Arnold Street in Holland Park for $1.075M.
"We had 130 groups through the door during the four-week campaign and on the day you could feel the renewed belief that people were more willing to pull the trigger," Mr Hay said.
"We put a lot of effort in to social media marketing for this property and we actually got a lot of enquiry through advertising on Facebook.
"An elderly lady purchased the home as she loved the fact the home was low-set and had the pool for her grand children to play in.
"The Brisbane market has always been strong and Holland Park in particular is on the rise again."
The upbeat vibe filtered into Victoria where Ray White Blackburn Agent/Senior Auctioneer Allan Smith sold 17 Range Road in Burwood East for $1.1M.
"I've seen headlines about property bouncing back and it's absolutely right. The perception of things have changed for sure," Mr Smith said.
"The election has changed people's mindsets. People have been hanging on for the election and they now have stability. It feels good again to be a buyer and a seller.
"We had a crowd of more than 100 people today and the property sold for $40,000 above its reserve price. We had three bidders actively competing and by the time the hammer fell, we had a very happy buyer and vendor.
"Ray White Blackburn itself had five auctions today and all five have sold."
And South Australia also felt the post-election bounce as 80 Whysall Road in Greenacres sold for $492,000 under the hammer, as Ray White Norwood Sales Executive Stefan Sicilano attributed the result to post-election confidence.
"We had seven registered bidders and that was the biggest number we've had in a while, so no doubt the stability and confidence has played a part," Mr Sicilano said.
"We saw a lot of faces at the auction we hadn't seen in a while, with investor developers feeling like they can bid on properties like this again.
"A local was the buyer and they will rent it out before re-developing in the future."
As a preliminary, the biggest sale of the week came in Chatswood where Ray White Unlimited duo Melanie Lahoud and James Snodgrass sold an entire block of 15 strata apartments at 1-15/235 Victoria Avenue pre-auction for $10.8M.
"The four-week campaign generated a lot of interest and in the end, an oversea buyer made an offer that was right for both them and the vendor, stopping the property from going to auction," Ms Lahoud said.
"We had more than 50 groups through and it was the location along with the size of the apartments that really appealed to people."
