ALMOST 12,000 people attended a Ray White auction last week with our New Zealand network boasting the highest preliminary clearance at 75 per cent.
Ray White’s New Zealand members cleared 75 per cent of their auctions on Saturday, while NSW cleared 61 per cent, Victoria cleared 57 per cent and Queensland cleared 55 per cent on the day despite the heavy rain and storms.
Ray White NSW chief auctioneer Alex Pattaro said he continued to see decent crowd numbers at all auctions, hovering at more than 36 people per auction. "Registered bidders appears to be holding strong with an average of four registered per auction from that 2.2 registered bidders are active. We continue to see large crowd attendance and registrations across the board which is a positive sign. Buyers are certainly present and I believe they are committed to purchasing however due to the constant negativity around the market, instability of the finance sector and upcoming elections they continue to remain cautious," Mr Pattaro said. The biggest auction sale of the week was reserved for our top agent, Gavin Rubinstein, Director of The Rubinstein Group at Ray White Double Bay, and leading agent in the Ray White Group, sold 12 Cambridge Ave, Vaucluse for $6.225M, some $725,000 over its reserve, with seven people registered all in the hunt. At the weekly auction event he sold five of eight properties worth $24M alone. “Across these five lots we had over 250 groups through the properties and on the day, we had multiple bidders on each lot,” Mr Rubinstein said. “When vendors are realistic about their expectations, trust the processes of the agent and buyers see value, this is when a premium result is achieved,“ Mr Rubinstein said. “Interest from local buyers and shortage of quality properties is still underpinning the market.”
The 12 Cambridge Ave, Vaucluse which ended up selling for $6.225M, some $725,000 over its reserve, with seven people registered all in the hunt. Four of its seven registered bidders were competing furiously for it from the get-go. The property was owned by Jack Rooklyn won the Sydney to Hobart Yacht Race in 1976 and 1978.
It was a great weekend for the Ray White team in Erskineville, with director Ercan Ersan also securing the sale of 1/40 Cambridge St. The two-bedroom unit sold under the hammer for $1.021 million, with three of the six registered bidders participating. Bidding opened at $900,000 and progressed in increments of $10,000, $5000 and $2000 up to the sale price.
In Brisbane, Wolfmother’s lead singer Andrew Stockdale said goodbye to his Paddington home after it sold at auction on Saturday. The rock star and Grammy winner bought the house at 71 Prince St in 2007 having already owned the house next door at No 69. Four bidders registered for the auction and it sold under the hammer for $930,000. The singer said he was ready for the next chapter in his life and sent his well wishes to the buyers. “Now we are thinking possibly another place in LA or Europe, onwards and upwards,” Stockdale said.
Also in Brisbane, there was strong interest for 10 Union St, Clayfield which was for sale through Ray White Ascot agent Shenal Yigitbas and principal Dwight Ferguson. Ray White Queensland’s chief auctioneer Mitch Peereboom opened the auction with a bid of $700,000 yelled from the crowd. It was bought by a local boutique property developer for $1.25M.
