Autumn auctions on a roll

AUCTION activity continues to heat up, with the leading group Ray White clearing three quarters of all properties under the hammer in the first weekend in autumn.

With national auction activity holding above 2,000 for the second week in a row, all capital cities saw a tad fewer homes taken to auction this week compared to both last week and this time last year.

Leading group Ray White still had the biggest market share with 561 auctions this week, representing 26 per cent of the national auction market.

Buyers were out in force this weekend with the Ray White group recording an average of 4.3 registered bidders and 2.8 active bidders. Crowd sizes swelled too with 40 people on average today.

The auction with the most bidders was 10 Coronation Ct, Bundoora, where Ray White Bundoora agent Joe Torzillo had 23 registered bidders. ‘It went berserk today. It was so busy,” he said of the property which sold for $900,500.

The top auction sale of the day went to 12 Madden St, Balwyn North which sold under the hammer for $4,730,00 million.

• 123-125 Denison St, Camperdown

• Ray White Surry Hills Lead agent: Shaun Stoker - 0424 172 217

• Sold under the hammer $2.81m, $210,000 over reserve

• 9 registered bidders, 5 active

• Auctioneer: James Keenan, Ray White

In front of a crowd of 70 people, Mr Stoker said a mix of developers, builders and families battled it out for the keys at this unique terrace in Camperdown which had been in one family for 40 years.

“A builder was the winner today and he’ll likely develop the garden block as the house has a 10m wide frontage,” he said.

“Stock is so tight right now. We have 50 per cent less stock available in Erskineville, Newtown and Alexandria than a year ago which is driving big volumes of buyers. We have more than 100 groups of buyers coming to all our opens. I will be curious to see what happens when stock returns as it’s a fine line right now in favour of sellers.”

• 368 Pittwater Rd, North Ryde

• Ray White Ryde Lead agent: Jason Kiprovski - 0422 700 100

• Sold under the hammer $1.8 million, reserve $1,75 million

• 4 registered bidders, 3 active

Owner occupier buyers battled it out today in North Ryde, and came down to two family groups who wanted the keys to this four bedroom home.

Mr Kiprovski said his sellers (pictured above) were over the moon with the result.

“They are downsizers who are moving down the coast, and my seller gave me a big kiss and a hug at the end of the auction,” he said.

“The market is quite buoyant and buyers are very confident. Good quality properties are still getting a lot of interest.“

Meanwhile, the top performing principal in the leading group, the unstoppable Josh Tesolin of Ray White Quakers Hill was on track to sell 7/7 under the hammer late today.

“Sellers are in a good place as all these buyers want to buy before Easter as their pre-approval finances are ending soon. A lot of buyers are under immense stress to buy before their finance capacity is reduced,” Mr Tesolin said.

“It’s like a conga line of buyers across western Sydney.

“I have seven four bedroom houses selling today, they are all within 5-10 per cent of each other and I have underbidders following me around to all the auctions.

“We have done all the work to get these buyers in a position to buy and all the properties have building and pest inspections done.

“The best thing that gives buyers confidence is seeing the social proof of properties transacting at auction - there’s no better evidence of a real time market.”

• 14 Oliveri Pl, Schofields

• Ray White Quakers Hill Lead agent: Josh Tesolin - 0422 193 423

• Sold under the hammer for $1,733,333, $233,333 over reserve

• 8 registered bidders

• Auctioneer: Tim Snell, Ray White

• 1 Fino Way, Quakers Hill

• Ray White Quakers Hill Lead agent: Josh Tesolin - 0422 193 423

• Sold under the hammer for $1,360,000

• 12 registered bidders

• Auctioneer: Tim Snell, Ray White

• 16 Calandra Ave, Quakers Hill

• Ray White Quakers Hill Lead agent: Josh Tesolin - 0422 193 423

• Sold under the hammer today for $1,485,000

• 4 registered bidders

• Auctioneer: Perry Edmondson-Clark, Ray White

• 11 Sampson Cres, Quakers Hill

• Ray White Quakers Hill Lead agent: Josh Tesolin - 0422 193 423

• Sold under the hammer today for $1,402,221

• 5 registered bidders

• Auctioneer: Alex Pattaro, Ray White

Ray White Victoria Chief Auctioneer Jeremy Tyrell said there were positive signs across Melbourne that should provide much needed confidence to the real estate market.

“As we farewell summer, the market turned up the heat with the preliminary clearance rate stretching above 80 per cent for the first time since early 2022 (prior to first interest rate hike).

“Sellers with fair expectations are being met with good buyer interest and strong competitive bidding across 149 auctions for the Ray White network.

“All key metrics were up as average active bidders across all auctions jumped to 3.8.”

• 12 Madden St, Balwyn North

• Ray White Balwyn principal and lead agent Helen Yan - 0404 078 588

• Sold $4,730,000 under the hammer.

• 3 active bidders

• Auctioneer: Jeremy Tyrell , Ray White

The top auction sale of day went to this 5 star luxury Balwyn North home on 1012 sqm of land in this blue chip location. “I am so busy, the market is very busy right now,” Ms Yan said.

• 20 Bennett St, Forest Hill

• Ray White Forest Hill Lead agent/auctioneer: Hugh Francis - 0401 265 338

• Sold under the hammer $1.411 million, $211,000 over reserve

• 6 registered bidders and 6 active

In front of 100 people in the crowd, Mr Francis took an opening bid of $1 million for this charming three bedroom brick home on one of the best streets in Forest Hill.

On the market for the very first time, this single owner, 1958 brick original was sold to a local family for $1.411 million.

More than 130 groups of buyers went through the house during the campaign.

“My sellers are pumped with the result. From the first day they kept telling me their house was on the best street in Forest Hill and we had very strong interest from day one,” he said.

Meanwhile, sales agent and auctioneer Aaron McDonald from the same office today sold a three bedroom townhouse at 1/13 Penllyne Ave, Vermont for $1.060 million with two active bidders.

“It was a different product but it was also very active and two very determined bidders battled it out. Stock is short and good homes that are priced and presented well are getting all the attention as they are few and far between. People just don’t understand until they come and see for themselves that we are getting over 100 people at our auctions.”

Mr McDonald said all indicators right now were pointing to a solid, balanced market.

“Every auction I have called this year has had at least three active bidders, that’s a balanced market. We are getting big numbers at all our open homes and multiple bidders at auction,” Mr McDonald said.

“Competition is driven by market supply and demand and right now we are in a happy and healthy balanced market. Don’t believe the headlines as sellers who are willing to meet the market are achieving good results.”

• 38 Nancy St, Cheltenham

• Ray White Cheltenham Lead agent/auctioneer: Kevin Chokshi - 0430 195 517

• Sold under the hammer for $1.170 million, reserve was $990,000

• 4 active bidders

Mr Chokshi said his seller (pictured) was thrilled with the result. He said the vibe on the ground was more confidence from buyers.

“People are bidding with confidence, and there’s maybe even some desperation as there’s not much stock. The underbidder was an investor from Sydney who was bidding sight unseen for the second time with our office. I will send him some champagne too. I send all my underbidders champagne as I know how hard it is when you miss out.”

• 1/27 Simmonds St, Hughesdale

• Ray White Oakleigh Lead agent/auctioneer: Jonathon Eaves - 0411 051 571

• Sold under the hammer for $860,000, reserve $750,000

• 6 registered, 6 active bidders

Mr Eaves said his sellers (pictured) were thrilled with the result for their two bedroom unit.

“This auction kicked off like a pocket rocket with six very active bidders,” Mr Eaves said.

“The couple who bought it were a family looking for their first home in Australia. I think there’s some confident bidding today from buyers and one trend we have noticed lately is short settlements, as many people want to settle and lock in their rate before the next rise. Buyers are buying at today’s rate, which is smart." Ray White Oakleigh had sold 3/3 auctions so far today.

• 14 Positano Way, Lalor

• Ray White Thomastown lead agent: Tan Nguyen - 0438 736 479

• Sold under the hammer for $840,500

• 15 registered bidders, 8 active bidders

Mr Nguyen held 50 inspections at the home during its four week campaign which resulted in 15 registered bidders and 8 active bidders signing in to this online auction. The sale price was $70,500 over its reserve.

Ray White Queensland Chief Auctioneer Gavin Croft said lower than average stock levels meant strong depth in buyer interest resulting in great energy at the group’s Brisbane auctions.

“Brave sellers who have gone against the trend and come to market are being rewarded and we see that continuing into the foreseeable future. Astute sellers are seeing the opportunities and cashing in,” Mr Croft said.

• 26 Pine St, Bulimba

• Ray White Bulimba Lead agent: Brandon Wortley - 0447 269 591

• Sold under the hammer $1.9 million

• 5 registered bidders, 5 active

• Auctioneer: Haesley Cush, Ray White

In front of 100 people, the four bedroom Queenslander with city views sold to a local family for $1.9 million.

“This was a cracking auction as everyone had a go and the winning buyers had a buyer’s agent representing them,” Mr Wortley said.

“Today has been manic. We have had more than 15 groups through every open home today and at all price points from $1.1 million to $3m+. There is nowhere near enough stock to satisfy demand. We have 30 per cent less stock than a year ago. Buyers have seen the light at the end of the tunnel and know there may only be a few more rate rises to come.

“I have seen a lot of the same buyers who have been looking since last year and hoping prices would ease but things are only going up.

“Sellers who are considering coming to market shouldn’t wait until more stock comes on as competition is light now.”

• 21 Leura Ave, Hawthorne

• Ray White Bulimba Lead agent: Amanda MacDougall - 0421 039 608

• Sold under the hammer $1.802 million

• 5 registered bidders, 5 active

• Auctioneer: Haesley Cush, Ray White

• 66 Mccormack Ave, Ashgrove

• Ray White AKG principal Avi Khan - 0400 666 809

• Sold under the hammer for $1,111,000

• 3 registered bidders

Mr Khan said the renovator was sold to an owner occupier buyer. The property attracted seven offers prior but proceeded to game day and sold under the hammer.

Ray White South Australian Chief Auctioneer John Morris said the boom time auction action was on the rise in Adelaide.

“I made a statement recently that auction metrics in South Australia were trending downward slightly. I now have to completely retract that statement as throughout the last month everything started to point skyward,” he said.

“We have been seeing an average of 6.6 registered bidders per auction. 50 per cent of those have raised their bidding paddle and that has resulted in auction sales reaching an incredible 80 per cent throughout the month.

“Also those sellers who chose to take their auctions all the way through to auction day are seeing 10.6 per cent added onto the sale price above the offers they could have accepted prior to auction day .

“Personally, I've sold 25 out of the last 26 auctions I've done over the past couple of weeks. “So it's not looking like anything is slowing down in South Australia anytime soon. In fact, it looks like it's the complete opposite. And we are absolutely continuing with the boom.”

• 7 Azalea St, Prospect

• Ray White Norwood Lead agent: Ryan Stapleton - 0400 047 114

• Sold for $2.525 million, reserve $2.3 million

• 12 registered bidders, 6 active bidders

• Auctioneer: John Morris, Ray White

The opening bid was $1.5 million for the auction that was fast and furious in front of more than 130 people.

Pictured here are the happy purchasers, who recently sold their business in Western Australia and moved to Adelaide with their family.

Mr Stapleton said the sellers were stoked and said there was no-way they could have achieved the result without going to auction.

“The feeling on the ground is good, and this property attracted a lot of people from all over the city fringe as it was immaculate. “

• 23 Lewanick Street, Allenby Gardens

• Ray White Woodville Lead agent: Peter Kiritsis - 0411 501 520

• Sold under the hammer for $1.310 million

• 7 registered bidders, 5 active bidders

• Auctioneer: Jonathan Moore

Mr Kiritsis said the traditional sandstone character homes had never been in higher demand. More than 200 people in the crowd watched on as the four bedroom Allenby Gardens bungalow sold for $1.310 million to a family (pictured above) who lived one street over and wanted a bigger house.

“The buyers were a young family who had a smaller home nearby but they love the area,” Mr Kiritsis said, who ran a textbook auction campaign which attracted 120 groups of buyers.

“We even had a few interstate buyers come and have a look at this house. Character homes are always so popular, they never go out of style and have never been more popular.”

Mr Kiritsis sold 3/3 today with 16 Ashworth Ave, St Clair selling at auction for $970,000 to a downsizing couple who beat off three other active bidders for the keys to this low maintenance house. The sale was $20,000 over reserve in front of 100 people.