Ray White takes restrictions in stride

AUSTRALASIA'S largest real estate group and auction house continues to navigate the new normal with confidence.

Stage Four restrictions in the metropolitan Melbourne area mean private inspections and in-office online auctions will no longer be permitted but at home online auctions will still go ahead. The only difference being the location of the auctioneer.

After successfully conducting more than 600 online auctions since March, Ray White’s Victorian members are well placed and experienced to weather the storm of lockdown restrictions off the back of a July that saw auction data exceed predictions.

In July, Ray White offices in Melbourne conducted 238 auctions, averaged 5.6 registered bidders per auction - up by 2.1 on last year - and booked an auction day clearance rate of 61.3 percent.

Across the rest of the country, auction numbers are staying strong with 113 properties excluding Melbourne set to go under the hammer this Saturday.

In Australia’s largest real estate market, stock may still be low but good results haven’t been scarce.

Ray White Drummoyne’ Chris Wilkins is gearing up for a good result this weekend at the auction of 7 Burnell St, Drummoyne (pictured above).

The newly built five bedroom Drummoyne mansion looks out towards Iron Cove and Rodd Island. Mr Wilkins has been blown away by the interest the tri-level home has received.

“We have had 256 groups in just three weeks. There’s been massive interest from older families from across Sydney and we even have a couple of expat buyers looking to come home,” Mr Wilkins said.

“The location and having something brand new coming on the market in the area is so rare and this is what’s really attracting buyers.”

The two bedroom apartment at 4/347-349 Trafalgar St, Petersham (pictured above) is also set to fly on Saturday with Ray White NSW CEO Jason Andrew calling the auction.

The Petersham unit is being sold by Ray White Surry Hills | Alexandria | Glebe | Erskineville Associate Director Matthew Carvalho who has given out a price guide of $800,000 to $850,000.

“We only have one second home buyer interested, the rest have been first home buyers,” Mr Carvalho said.

“It’s a really nicely done up apartment. It’s north facing so it gets a lot of light in a good complex of nine units.

“We’ve had a lot of interest in Petersham, it’s one of those popular inner west suburbs that is going through gentrification at the moment and attracting lots of young professionals and young families.”

Proving the Victorian auction market is alive and kicking, Ray White Taylors Lakes agent Dianne Robinson is quietly confident about the auction of 41 Spellman Avenue, Sydenham (pictured above) this Saturday which will be called by Victorian Chief Auctioneer Matthew Condon.

After a strong year for the office, Ms Robinson is set to continue that streak and said she has had a whole range of buyers interested in the four bedroom home.

“We’ve had 40 private inspections throughout the campaign with everyone from investors to buyers looking to upsize and take advantage of the location because of how good the street is,” Ms Robinson said.

The Melbourne agent said even in lockdown the Taylors Lakes office has been achieving premium sales.

“We’re absolutely smashing results and still getting over reserve on our auction sales. Obviously we have been adapting to online and going full steam ahead which is why we have been so successful,” she said.

Watch the online auction here.

Opportunity abounds in the Brisbane market with this two bedroom fixer upper at 62 Princess St, Kangaroo Point. The southside worker’s cottage is on the market through Ray White Bulimba Principal Scott Darwon and the auction will be called by fellow principal and auctioneer Haesley Cush.

Mr Darwon said interest has been coming from builders and multigenerational buyers with family ready to pitch in on the renovations.

“We’re seeing mainly buyers wanting to renovate. The potential has been a huge drawcard for buyers as well as the entry level price point in the emerging market of Kangaroo Point,” Mr Darwon said.

“Based on the proximity to the city it represents good value.”

In Kingston, Ray White Logan City agent Darren Lim is selling 12 Apodis St through auction. The Brisbane agent said he’s had interest from both investors and owner occupiers.

Meanwhile in Bellbird Park, Ray White Redbank Plains is also taking 6 Roberts Crescent (pictured above) to auction. The four bedroom home is being sold through Redbank Plains agent Fraser Andersen with the auction being called by Ray White QLD Chief Auctioneer Mitch Peereboom.

Mr Andersen said the newly built home is a rare offering in the Bellbird Park area and has attracted attention from across Brisbane.

“It’s very much a family home so we’re seeing a lot of already established, second home owners however there has been some first home buyer interest,” Mr Andersen said.

“The home is brand new and beautifully fitted out, there will be no issues with building and pest, it’s modern and completely unique to the area.

“The sellers have made a smallish block of land work incredibly well.”

Also set to sell well are two properties in Adelaide’s suburbs represented by Ray White Norwood. Agent Nick Roma said he is expecting a strong result for the three bedroom home at 63 Percy, Prospect (pictured above).

“We’ve had a lot of interest from families who are looking to be in that vibrant, inner city area,” Mr Roma said.

“The market has been busier than ever, it’s been very steady and very consistent so even during lockdown we didn’t notice a downturn.”

Fellow Norwood agent Alex Diamond is also confident about his auction of the combined lot at 47 and 49 Coventry Rd, Davoren Park.

Ray White South Australia Chief Auctioneer John Morris will be calling both auctions.