This week reached a significant milestone with more than 400,000 people attending a Ray White auction since the start of the 2018-19 financial year. We are the only group which is accurately capturing our auction data, and we know that last week we had more than 11,200 people attend our 230 auctions that were held over the week.
Congratulations goes to Ray White’s Victorian network where our members cleared 67 per cent of their stock on Saturday which is outstanding compared to Domain which is reporting 48 per cent. Auction numbers were lower than normal due to the public holiday long weekend. "The great thing is that we had action on almost everything, so even those that passed in, passed in with bids on them. It just goes to show there’s plenty of activity out there and our open for inspection numbers are building back up again too, which is great, ” said Matt Condon, Ray White’s chief auctioneer in Victoria and Tasmania.
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TOP SELLERS: Nicholas Given and Matt Lancashire of Ray White New Farm.[/caption]
By far the most exciting auction held last week was in Brisbane on Saturday at 11am when more than 100 people crammed onto the shaded pool deck overlooking the Brisbane River at 39 Griffith St, New Farm to see the big tri-level mansion sell for $7.750M. Ray White New Farm principal Matt Lancashire said the top auction sale in Queensland so far this year attracted eight registered bidders, four of whom were active on the day.
The bidding opened at $4M, and jumped in rapid-fire $500,000 lot increments to pause at $7M where negotiations continued on the sidelines with the four bidders. After 30 minutes of discussions - the who’s who in the crowd of Brisbane real estate, hospitality and motorsports - were told by top auctioneer Haesley Cush or Ray White New Farm that the property was on the market at $7.750M.
The property sold at that price to a local family of property developers and investors.
Mr Lancashire said there had been 80 groups through over the four week campaign and had three written offers prior. “It couldn’t have been a better result for the Meins who have been the most unbelievable people we have ever dealt with. This is a great sale for Brisbane and the prestige market and a good sign of things to come,” Mr Lancashire said.
Owners Glenice and Allan Mein thanked their agents Matt Lancashire and Nicholas Given for running a textbook auction campaign which resulted in a great price, through the open and transparent marketing method. The owners had lived at 39 Griffith St, New Farm for the last 20 years and always treasured its “spectacular river view”. The pair bought their grand five-bedroom riverfront home, which comes complete with a rooftop entertaining space, at a Ray White on-site auction in mid 1999 after they fell in love with the property. “We just knew we had to have it and it’s been a wonderful home for us. We arrived at the auction with the intent on buying it as we loved the house so much” said the Meins, experienced property developers who have recently moved to Ormiston, swapping river views for bayside breezes.
Ray White New Farm agent Nicholas Given said this house was very special.
In Sydney’s west at 57 Oxford Ave, Bankstown, there were 19 registered bidders vying for this huge property, first time to market in 63 years. Ray White Bankstown agent Andreas Kartsioulis said of the 19 registered bidders,
seven were active. “There simply hasn’t been a comparable property around of this size on a 20m frontage on a 1250sqm block in Bankstown for more than 12 months,” Mr Kartsioulis said. “There’s been a lot of interest from investors looking to land bank for the future and developers looking to build townhouses or even a child care centre subject to approval. “The bidding started at $950,000 and quickly moved to $1.250M and then it stalled at $1.30M which is where it went on the market and ended up selling to a Chinese investor / developer for $1.370M.”
