Ray White’s auction clearance rates rose marginally last week across Australasia, led by improvements in Auckland, Melbourne and Sydney, our busiest auction markets.
The bounce is being attributed to seasonal factors, as it often happens at this time of year as we run up into Easter.
More than 12,327 people attended our auctions across Australasia last week, with many auctions seeing crowds of 100 people or more from Caloundra on the Sunshine Coast of Queensland to Ferntree Gully in Melbourne.
Congratulations to the team at Ray White Southbank who had an incredible auction event last week when they sold $4.11M worth of property under the hammer. Ray White Southbank | Port Phillip | Projects Victoria principal Andrew Salvo said it was standing room only when more than 65 people crammed into their office at 111 Clarendon Street, Southbank. “The room was crammed to the point that we struggled to close the front door at auction time. All 35 seats were filled 15 minutes before auction time and there were another 30 or so stood wherever they could. Many behind the reception counter, at the back of the room and in the aisles. Each property that sold passed vendor reserve prices through natural competitive bidding. The one that passed in had two bidders and unfortunately the highest bidder did not meet the vendors asking price on the night and negotiations continue. Most people stayed for the whole show which was fun and entertaining for all. Bidders were rewarded for bidding with bottles of wine and gifts. The night was a hugely successful and entertaining success," Mr Salvo said.
The top auction sale of the week at 1-4/41 Sir Thomas Mitchell Rd, Bondi Beach which sold under the hammer for $5.8M. Ray White Unlimited agent Melanie Lahoud said she had more than 80 groups through the building to inspect it during its four week campaign.
“On the day we had eight registered bidders, with four of them active in the bidding action. The property ended up selling to an Australian investor in Hong Kong who was looking to purchase it as an investment property,” she said.
“The property has been owned by a local family for many years. It is a rare and unique investment opportunity to be able to purchase an entire block of four Art Deco apartments in one of Bondi's best streets.”
The highest number of active registered bidders was to be found in Mill Park, when nine people registered to buy 19 The Fred Hollows Way and five of them very active in the auction. Ray White Mill Park Director Rocco Raco had shown 85 groups through the popular four bedroom brick and tile home during its campaign.
“It was a great auction, it was like being back in 2017 actually with such excitement and intense interest. We had a lot of buyers interested in this property - it was priced right and presented beautifully. The auction was great and the bidding sailed through the owner’s reserve too which is great for my vendors,” he said.
“The house had everything a family could ever want and then some more. A family from Reservoir bought it.”
In Brisbane, 55 Alderley Avenue, Alderley was a cracker of an auction which sold for $1.015M. About 60 people watched in the property’s front yard as three registered bidders battled it out for 20 minutes. Ray White Queensland chief auctioneer Mitch Peereboom said there were larger crowds than normal over the weekend. "The active bidding highlights the activity in the market which is positive however the quality of feedback and presenting multiple offers prior to auction is critical to the sale happening on the day," Mr Peereboom said. The property were the perfect example of a prime inner city splitter block that can be divided into two with two 10m frontages each.
