TODAY’S sellers who forged ahead netted all-time high prices at auction with intense buyer demand propelling sale prices up 13.4 per cent higher on average, compared to the best offer prior to auction day, according to Ray White.
That’s the highest that metric has been since the dominant auction agency has been collecting its auction data in detail.
Average registered and active bidders were also at all-time highs despite the sharp fall in auctions conducted to less than 180 across Australia for Ray White alone.
With a 20 per cent fall in new listings across the group nationally last week, the sellers who did proceed to auction today were rewarded at a time of elevated demand.
Despite the lockdown in Sydney, the network recorded 12 average registered bidders per auction lot today.
The harbour city members can be proud of their 81 per cent preliminary clearance of their stock today. Nationally the network cleared 91 per cent of its auctions today.
Ray White NSW Chief Auctioneer Alex Pattaro (pictured calling an online auction today over a Google meet) said all auction data suggests now was still an incredible time.
“People will look back on this lockdown and realise demand was still high as buyers remain strong. We know some Sydney sellers remained nervous about coming onto the market but with such a high number of buyers, and a low number of stock, with electrifying bidding, it’s a good time,” he said.
“Many buyers are bidding well above their price feedback given prior to the auction. The market conditions now are actually helping Sydney sellers achieve a premium result, typically well above the reserve auctions.
“If you are coming to the market, be assured that the Ray White Group has some of the best processes in place to ensure you obtain a premium price, while keeping buyers and sellers safe and sticking to government guidelines.”
The top auction sale of the day was conducted by Ray White Gladesville agent Joseph Mazar who sold the blue ribbon address of 1 Watson St Putney for $3.6 million under the virtual hammer.
There were 18 registered bidders keen on the corner property just 100m from the water in Sydney.
“The buyers were living locally, and the seller was overseas. I would say this is still a great time to sell. We have a lot of buyers but many people don’t want to list while the restrictions are in place,” Mr Mazar said.
Agent David Beveridge of Ray White Upper North Shore earlier kicked off the online auction action in Sydney today with a huge result at 12 Alvona Ave, St Ives which sold for $3.2 million under the virtual auction hammer.
There were some 20 registered bidders, and a good mix of local buyers plus an expat in Singapore who was looking to buy.
“To be honest there just is not a lot of stock on the market now and we have seen from numerous lockdowns that the market activity remains strong in this period. It’s supply and demand and a lack of stock continues to see prices rise up,” he said.
Later at 11A Knowlman Ave, Pymble Mr Beveridge said the home had received interest from young families and downsizers. He said there was definitely a sense of urgency from buyers.
There were 17 bidders and the winning buyer was an expat living in Hong Kong who paid $2.590 million for the prestige east-side easy care home.
“This home attracted a lot of downsizers plus young families. It was a wide spread of demographics. A lot of our buyers are second generation Chinese who like this area for its excellent schools.
“We have also seen a spike in expats enquiring, many have made the decision to return home.
“Having been through a lockdown last year, buyers don’t have that same fear that the market is going to come off.
“Now they know that the market is going to take off after the lockdown and the quality of buyers at the moment has been the best we’ve had all year.”
In Leichhardt, this double fronted original cottage at 110 Foster Street just sold for $2.710 million.
Ray White Rozelle principal David Meadowcroft said 23 registered bidders were vying for the weatherboard cottage on a 426.5sqm block.
Mr Meadowcroft said there was no shortage of buyers, in fact six of today’s bidders registered today to buy it sight unseen.
“The appetite from buyers is huge but sellers are hesitant. It’s not that they are not scared about selling in lockdown, it’s more about where do they go? Stock is so low.
“I started this auction campaign in the first week of lockdown and kept the date flexible but with so many bidders it was a great day to sell today.
“Most people were attracted by the size of the block which is larger than average for the area. The proximity to the Leichhardt marketplace and Light Rail has also been another major draw.
“In the end two developers went head to head and the price well and truly exceeded the owner’s expectations.”
It was a record day for auctions in Melbourne on Saturday as the city was released from it’s fifth lockdown.
Whether onsite or online, Ray White Victoria chief auctioneer Matt Condon said the weekend’s auction results had been exceptional after the state was released from lockdown earlier this week.
“The low volume of auctions and high buyer demand is still creating an environment that is conducive towards sellers achieving a premium price,” Mr Condon said.
“On the ground we saw smaller crowd sizes at auctions, however, buyers were out in force with Ray White Victoria recording a higher than normal average of both registered and active bidders.”
Ray White Victoria saw an average of five registered bidders, with an average of 4.1 active bidders.
There was a surge of prospective buyers in Melbourne today as the city was released from its fifth lockdown.
In Cheltenham, 9 Fairview Avenue received a lot of interest with 45 groups viewing the home throughout the campaign, and four active bidders competing for the property at auction.
The home sold for $1.4 million -- $275,000 above reserve.
Lead agent Anglea Limanis of Ray White Cheltenham said the auction was “pretty insane, with some fierce competition from the bidders”.
“I think it’s the highest price for a three-bredroom house of its kind on 585 sqm in that area,” Ms Limanis said.
“It wasn't your typical Cheltenham floor plan, it had a few quirks, but it was in the middle of the suburb close to everything which was a real drawcard.”
The winning bidders Peter and Maggie (pictured above) attended the auction onsite.
Ms Limanis said they saw the house during lockdown and had every intention of bidding even if they hadn’t been able to view the house.
“They were very aggressive and competitive,” Ms Limanis said.
“They bought the house for their parents to live in and valued it more than anyone else.
“They said if they missed out on this one they would have gone to my colleagues auction at 2 Rosewarne Avenue, Cheltenham.”
The first under bidder was an investor, while other interest came from homebuyers.
Ms Limanis said the vendor had been in the house for 20 years and was looking for a lifestyle change.
She said while they had achieved a great result for the vendor, she expected auctions across Melbourne to be a hive of action today.
“Coming out of the fifth lockdown we did expect a surge of buyers, and so far that's what it’s proven to be,” she said.
Another great result in Cheltenham on Saturday was 2 Roswarne Avenue, selling for $1.5 million -$220,000 above reserve.
There were five registered bidders, all active and bidding with about 40 bids at auction.
The winning bid went to young couple Maryam and Vahid.
Ray White lead selling agent Kevin Chokshi said they only saw the property for the first time at auction.
“They’re going to live in it for a few years and then decide whether they want to renovate or demolish and build their dream home,” Mr Chokshi said.
He said the property was in a very good spot, close to Southland, and was on a rare parcel of land, which is what made it so desirable.
“790sqm isn't something you come across often as it's quite a developed suburb,” Mr Chokshi said.
“The vendors owned it for about 30 years and paid $132,000 for it back in 1992.
“They wanted to retire and cash in on the hot Melbourne market”.
Mr Chokshi said the market had been really good since coming out of lockdown.
“There’s definitely been a buzz,” he said.
“People are scared there’s going to be another lockdown so they wanted to buy today.”
In Tullamarine, 23 Scampton Crescent sold for $880,000 -- $130,000 above reserve.
Lead agent Malek Younan from Ray White Gladstone Park said he believed Tullamarine was an up-and-coming suburb.
“This home was built in the 1970s and never touched,” Mr Younan said.
“It set a new record for an original, four-bedroom, home in Tullamarine on 530sqm land.
“This set a really good record because soon I believe Tullamarine will be a million dollar postcode.”
He said it was a fantastic result for the vendors who were selling on behalf of their mother who had moved to a nursing home.
“It was a very emotional sale but they were happy it ended up getting a good price,” Mr Younan said.
The property received a lot of interest with about 50 groups viewing the home in the three week campaign prior to auction.
There were five registered bidders but six active bidders at auction with more than 50 bids in a fierce competition for the home.
The winning bid going to a young couple, Anthony and Cecilia (pictured above), from the same neighbourhood.
“I sold them a house in Tullamarine a few years ago, they wanted to upgrade and renovate,” Mr Younan said.
“They ended up falling in love with this one.”
Meanwhile, stay at home orders have been placed over parts of Queensland with a snap three day lockdown confirmed earlier today to contain the latest outbreak of the Delta strain of covid-19.
Brisbane Ray White Queensland Chief Auctioneer Gavin Croft said the network had increased its auction market share to 35 per cent.
“We sell roughly one in three of all auction properties in Queensland which shows you our scale and our execution on the auction day.”
On Brisbane’s southside today the character home at 31 Eric Cres, Annerley today sold for $1.190 million. There were 16 registered bidders among the crowd which helped drive the price to $265,000 over its reserve.
Selling agent and Ray White Annerley principal Geoff Sellars said buyers were being drawn by the potential of the property and its location.
“The happy buyers are a young couple who are renting nearby and looking to get into a house in Annerley. This is such a good area, with good transport and infrastructure that is only going to get better seeing as its close to the Gabba which is going to get completely refurbished and host the Olympics,” Mr Sellars said.
“It’s a nice character home in a great spot with lots of potential. There are well renovated homes all around it which has given buyers an idea of what they can do with the property.”
Meanwhile some 26 registered bidders dialled in from everywhere to buy 64 Stoneleigh St, Albion today (pictured above) which sold for $1.65 million.
There were multiple buyers bidding over the phone from interstate and overseas.
Ray White Metro North principal David Treloar said the house ticked a lot of boxes for buyers including those looking to escape to Queensland.
“The people looking at this one want a new, contemporary home that’s family friendly and in a great location. We had a buyer dialled in from Amsterdam, one from Canberra, two from Sydney and another Queenslander in Melbourne who wants to come home,” Mr Treloar said.
“In the end it was sold to a young couple who have been looking for a home within eight kilometres of the CBD in all directions. Many buyers are no longer suburb specific, they look in rings. These same people missed out on a home at auction two weeks ago in Hawthorne.”
There were some fantastic results in South Australia on Saturday with strong interest in Albert Park property67 Murray St.
Despite the state-wide lockdown last week, there were 60 groups which inspected the home in the three week campaign prior to auction.
On auction day there were 16 registered bidders with five active bidders competing for the property.
The four bedroom home sold for $667,000 -- almost $97,000 above reserve -- which Ray White lead agent Rick Schultz said was a fantastic result for the vendors, who were selling their late father’s home after he passed away in a nursing home at age 95.
The vendors had all grown up in the home.
“It was a sole-owner home built in the 1950s,” Mr Schultz said.
“We were selling for the kids and all four of them were there today.
“We walked in and they were crying with joy after getting such a great price for the home.”
The home was sold to first home buyer Edward and his wife.
“Buyer interest had come from first home buyers and families wanting something bigger and to renovate,” Mr Schultz said.
There was also strong interest in Greenacres property 55 Princes Road attracting 10 registered bidders with six active at auction on Saturday.
The three-bedroom home sold for $670,500 -- $20,500 above reserve, in a great result for Ray White Norwood selling agents Stefan Siciliano and Trent Dudley.
Ray White South Australia chief auctioneer John Morris (pictured above right with Ray White Port Adelaide principal Nick Psarros) said lockdown hadn’t slowed the auction market with 136 auctions scheduled across the state in the past week, with 43.4 per cent registered to Ray White.
“Preliminary data suggests there has been bidding at every single auction today and this week, with every property selling under the hammer,” Mr Morris said.
“Possibly thanks to the huge 14.3 average registered bidders with 5.5 of those participating in the bidding.
“Everyone is adhering to the social distancing protocol but that’s about the only civility there is between the bidders as they battle it out in fierce competition throughout Adelaide today and earlier this week.”
