The Australian property market has not skipped a beat, picking up from where it left last year with record numbers of buyers attending auctions and open homes across the country today.
According to Ray White, the largest property group in Australasia, buyers numbers have increased by more than 30 per cent since December with many buyers reporting they simply do not want to wait as they fear further price rises are coming.
The Ray White Group is reporting a preliminary national auction clearance day of 77 per cent today. The group had 253 auctions booked across Australia today.
Ray White NSW Chief Auctioneer Alex Pattaro said the first real weekend back on the auction round was “the best market we have seen in years”. The Sydney preliminary clearance is sitting at 95 per cent of the 26 auctions which were conducted in the harbour city today.
“The property market has taken off where it left from last year and we have seen a rush of buyers at opens and auctions fiercely competing for properties to secure their dream homes,” Mr Pattaro said.
“The market definitely requires higher stock levels but if we saw a jump in stock I dont think it will mean prices will fall because the sheer volume of activity, confidence and engagement in the market is the best we have seen in years.”
On a packed inner west street on a drizzly Saturday morning in Sydney, Ray White Surry Hills director Shaun Stoker and sales executive Moira Verheijen kicked off 2021 with an impressive auction result.
Ray White auctioneer James Keenan knocked down his hammer on 132 Union St, Erskineville after four active registered bidders fought it out and the new buyers won the keys for $1.615 million.
More than 160 groups inspected the property during the intense campaign. Ms Verheijen said the very first open home saw 82 groups come through and the queue was down the street and around the corner.
“Young couples fell over themselves to inspect the house, they’ve all been looking since the end of last year and come back from the break with gusto,” she said.
The auction opened at the price guide of $1,500,000 and competing bids ricocheted up Union St to reach $1.615 million. The sellers (pictured here with Shaun Stoker) are moving down to the Central Coast.
The top sale of the day was achieved by Ray White Upper North Shore director David Walker and sales associate Belinda Edwards who smashed their first auction of the year when they sold this four bedroom home at 2 Yanilla Ave, Wahroonga for $2.330 million.
Some 24 registered bidders pushed the price to $455,000 over its reserve.
The bidding opened at $1.825 million and late bidders were still registering as the 9am auction was getting underway.
The house has been very popular with buyers, in fact the owners pulled the auction forward by a week and refused to accept any prior offers.
Mr Walker said the house had been so popular with young couples who had been waiting for their chance to get into the Upper North Shore market.
There had been more than 200 eager buyers inspecting the Wahroonga house during its campaign.
“It’s a very traditional Wahroonga property but there's just not a lot of stock on the market right now and so many buyers. The buyers are from Chatswood and they have friends who live around the corner,” Mr Walker said.
Sellers Elliot and Ann Humphreys and their children have lived in their Wahroonga home for 10 years.
The family (pictured above with their agent David Walker and the new buyers) added the huge covered deck and opened up the back to create an entertainers paradise to enjoy the pool area and substantial 1010sqms of land.
“It’s been a great family home. It’s a wonderful community which has a warm village vibe here too,” Mr Humphreys said.
“We thought it was a place that people would fall in love with and they did.”
The family recently made a lifestyle change and moved to the northern rivers of NSW at Kingscliff.
“We listened to our agents and their advice was spot on. They ran a great campaign and I think we’ll look back on our decision to sell now and move as one of the best we’ll ever make.”
Con Economos of Ray White Rockdale today sold 3 Kent St, Rockdale for $1.375 million to a first home buyer couple from nearby Brighton.
There were 10 registered bidders and five of them active in the super-charged auction.
“The first bid was $950,000 and it travelled up to $1.375 million, passed the reserve of $1.360 million,” Mr Economos said.
“All the bidders were locals, except for one guy from the Central Coast. It definitely feels like the market hasn’t skipped a beat.
“We had more than 80 groups of buyers through the house as there’s still a lot of people looking and not a lot of stock to buy. I am so grateful I work in the best group, with the best support.
“During COVID, I turned off the news and just listened to Dan White and we never panicked as the family has always been cool, calm and confident. Our market share has improved during this pandemic.”
In the nation’s capital, Ray White Canberra held it’s Summer Auction Event which saw 29 properties sell under the hammer for an exceptional 76 per cent clearance rate.
In total there were almost 200 registered bidders at the auction which saw more than $22.6 million worth of property exchange hands across the 29 lots.
“It was an unbelievable vibe today. We have done this for four years in a row and we needed a bigger venue to be COVID safe and so we used this vacant warehouse next door to our office and we ended up packing it out,” said Ray White Canberra Chief Operating Officer and Founder, Scott Jackson.
“This was the best bidders numbers we have seen in 24 months, Tonight we have happy home buyers and sellers all around. Like the rest of the country, the unit market is still soft but the house market from renovators to renovated, is red hot.”
The standout auction was 19 Aston Crescent, Cook which attracted a whopping 24 registered bidders and sold for $1.441 million.
“Cook is a suburb is a red hot inner belt, just one step out from CBD, where you get good buying. All our bidders today were locals, with some interstate bidders on the live stream.
“The only real surprise today was that we sold a few properties to investors, and we have now picked up a few managements too. The rental market in Canberra is so busy at this time of year, there’s all the uni students coming back to finish their studies.”
The final weekend in January saw a significant increase in auction activity across Victoria, with the Ray White group conducting 130 auctions this week.
Registering a preliminary clearance rate above 87 per cent, this is a sign that the significant market activity that followed record months has been sustained by Ray White Victoria.
Ray White Victoria & Tasmania CEO Stephen Dullens said the market remained strong and both buyer and sellers out in force today, taking advantage of the strong conditions after the challenges of Melbourne’s lockdowns in 2020.
You could feel the buzz in the air in Melbourne as the auction action returned firmly to the streets.
At 13 Salisbury St, Glenroy, marketed by Ray White Glenroy agent Sebastian Rello, the four week auction campaign finished on a high with a $951,000 sale under the hammer. He’s pictured above with his sellers and buyers.
“It really does feel good to be back in the street. Even though we had some ripper auctions online, the buzz in the street is awesome,” Mr Rello said.
“Of the 14 registered bidders in the end we had 7 or 8 active bidders and the eventual buyers are from Geelong. They waited until the end and put in the last two bids in.
“I think the market has actually found a new gear. I sold six homes in January and that has never happened in my 26 years in sales. We didn’t take a break, after we had been locked in our homes for three months I was ready to work! I truly believe the market has gone up to a new level. All our opens have been strong. We have had 80 people through homes just this morning alone.
“We were getting both first and second home buyers who wanted something well maintained and renovated in the last 10 years like this one. The two living areas have been popular as has the second bathroom which is a must after the year we’ve had in Melbourne,” Mr Rello said.
The three bedroom home sailed through its $880,000 reserve with 14 registered bidders pushing the price up. Ray White Victoria | Tasmania chief auctioneer Matthew Condon conducted the auction in front of more than 100 people in the street.
Ray White Glen Waverley agent Cristine Jones there was a definite lifestyle shift in the air with many buyers craving more space.
Ms Jones just sold 36 Major Cres, Lysterfield for$1.62 million to a local family from the same neighbourhood as the sellers were relocating overseas.
The five active bidders smashed through the reserve of $1.45 million with more than 80 people watching in the crowd.
“There’s simply no stock and lots of buyers. Our opens have all been strong. We are getting anywhere from 70 to 250 people through each property - crazy numbers!
“I have worked right through Christmas and even held an open on Boxing Day out of curiosity to see the numbers and it was like Chadstone Shopping Centre during the sales.
“I am sensing that lifestyle is more important than ever. If we go into another lockdown people want more space - they want a pool, a tennis court and this house was like it’s own resort. It would be the perfect place to get locked in!
Nearby Ray White Glen Waverley agent Belinda Van Suylen sold this stand alone unit at 2/88 Blackburn Rd, Glen Waverley for $780,000.
“I had 20 registered bidders and the last bidder registered online at 12:55am and he was the eventual winner! We had about seven or eight active bidders. It feels like confidence is resuming but there’s still not enough properties on the market.
“It is definitely a sellers market and we are busy everywhere. Stock under $1 million sees at least 40-50 people per open without fail.”
In Adelaide, Ray White South Australia Chief Auctioneer John Morris buyer numbers were off the charts. “It looks like the last quarter of 2020 is going to repeat itself in the first quarter of 2021 and we saw records tumble,” he said.
“Coming off the back of the momentum 2020 where we conducted in excess of 45 per cent of all auctions, the momentum in the market is just not slowing down. This is the busiest start to the year I have ever experienced.”
Ray White SA Chief Auctioneer John Morris (pictured above) with Ray White Brighton Principal Scott Robinson and Business Development Manager Nazz Mina.
Just one block back from Holdfast Bay in Adelaide, this historic three bedroom house at 621 ANZAC Hwy, Glenelg North sold today at auction for $500,000.
The rare slice of Glenelg history is brimming with possibilities and ready to be restored to its former glory. The property is identified by the City of Holdfast Bay as a local heritage place.
The home dates back to Glenelg's earliest days. It was built around the 1850s, and was used as the dwelling of the local baker Samuel Nelson, who ran his bakery next door. The bakery formed part of Glenelg's original shopping strip, and the home is part of the heritage precinct.
Ray White SA Chief Auctioneer John Morris said there were five registered bidders in the action.
Business owner Scott Robinson said the bidders were all locals but the campaign had attracted some interstate interest too.
“The property is zoned mixed use and in this case the new buyer wants to renovate it and live in it. It’s a very unique place, there’s a plaque in the footpath outside which shows its significance.”
“We have hit the ground running this year after we finished 2020 with a bang it. Right now we are averaging at least 40 groups through every open which is up by more than 50 per cent year on year.”
The seller was a local investor who was consolidating his portfolio.
In Largs Bay, this beautiful beachside bungalow at 29 Alexander Ave sold for $872,000 to a local man who was so determined to win the keys after being the under-bidder at seven prior auctions.
Ray White Norwood agents Nik Ilic and Mannas Chan ran a textbook auction campaign which saw 13 registered bidders turn up.
“It was ferocious bidding, it was very spirited and the winner had fatigue from all his previous auctions so he came with a clear strategy to win.”
But it was in Plympton where a whopping 39 registered bidders turned out to compete for the keys to 29 Glenburnie Terrace which was marketed by Adam Keane of Ray White Glenelg.
The old-world charmer sold for $682,000 and the owners are “over the moon” with the result. This was the highest number of bidders anywhere in the country today.
“We had three of us taking down the registration details, it was hectic, but such a great result for my sellers. All the bidders were locals but we are starting to see some people from Melbourne move back to Adelaide too.”
Ray White Queensland Chief Auctioneer Mitch Peereboom said it had been an exceptional week across the network, particularly on the Gold Coast which has seen hundreds of properties offered for auction.
“The sentiment has been the same everywhere, the property market has been phenomenal. There’s been strong bidding, even aggressive bidding in some lots. The competition is resulting in rising sale prices from units to prestige homes to commercial property.
“If you are looking at coming to the market in 2021, look at these results to gain confidence. These results are not isolated, it’s across all price points and every suburb.
“The momentum is building, there’s no slow down. This is the best market many agents have ever seen.”
This awesome block of land in Burleigh Heads attracted seven registered bidders and sold for $695,000 at auction today on the Gold Coast.
Ray White Broadbeach Agent Mark Stafford marketed the rare 544sqm block of north-east facing land at 19 Vantage St. Burleigh Heads with Andrew Rouse.
The owner Mervyn Pywell had owned the block for 41 years and he paid $15,000 for it back in 1979.
“Hollywood Hills? No, forget that, BURLEIGH HILLS is where your dream home can evolve, on this uber rare north-facing never built-on block with ocean, city, hinterland and Tallebudgera Creek views - this is rare,” said the agents in their marketing.
This was one of the last remaining vacant blocks of land in Burleigh Heads, a very popular postcode.
All up there were 13 properties sold, of 18 on offer. These sold under hammer or just prior to at the auction event held at the Sheraton Grand at Surfers Paradise.
