THE first weekend of November has not only brought with it some stellar sales but also an increase in auction volume across the country.
In line with Ray White data that shows listings on the market are up 18 per cent in just a month, this Saturday there were 413 auctions scheduled. This was the first time the group cracked the four hundreds figure on a Saturday in several months.There may be more options for buyers but that didn’t stop them from competing fiercely today with an average of seven registered bidders and 3.7 active bidders per auction nationally.Ray White’s clearance rate came in at 86 per cent while the gap between the highest offer prior and the sale price at auction was on average an impressive 11.13 per cent.FOR MORE REAL-TIME PROPERTY INSIGHTS READ THE RAY WHITE NOW REPORT HERE.Ray White New South Wales chief auctioneer Alex Pattaro said today’s market had the best selling conditions the state had ever seen.“Prices at auctions are at a high but we do warn sellers about having unrealistic price expectations as the Sydney market continues to run hot,” Mr Pattaro said.
“With more stock on the market buyers have become picky and cautious about overpaying.
“If properties are passing in within this market then nine times out of 10, it’s price related.”
It was the perfect, sunny day for a bidder buying on behalf of his children to claim the keys to one of the best views in Bondi this morning for $5.52 million. No.10/16 Notts Ave, Bondi Beach was hotly contested by five of the seven registered bidders who attended and the result also topped the leaderboard for the highest recorded national sale of the day.Lead agent Danika Jess of Ray White Woollahra | Paddington said Ray White New South Wales auctioneer James Kerley (pictured above) received rapid fire bidding right from the start.“It began straight away at $4 million and went up really quickly until it hit the $5.52 million sale price,” Ms Jess said.“It’s all about the view, it’s hard to put a price on it. We had 100 groups through the unit in three weeks - it was a great campaign with a lot of interest.“The seller is very happy and the buyer’s children will be able to move in before Christmas.”Ray White Woollahra | Paddington director and co-agent Clay Brodie said stock levels had ramped up but buyers weren't going anywhere.“Statistically speaking there is more stock than what we’ve seen in a while, especially in the east where in the last three weeks there’s been an increase in stock across the board,” Mr Brodie said.“But due to the backlog of buyers from the last two years there’s still a lot of people looking to buy and there’s still a lot of competition.“That will continue right into Christmas. It’s always been that time of year where if you want to be in your property before Christmas then you have to buy now or potentially miss out until next April.”Meanwhile, the auction at 144 Duncan St, Maroubra didn’t disappoint, after the property was described by Ray White Surry Hills | Alexandria | Glebe | Erskineville directors Ercan Ersan and Peter Natoli as something with “space, sunshine, views and huge potential”.The auction, conducted by Ray White auctioneer James Keenan, ended with a $3.6 million bid from a buyer looking to renovate the property into her dream home after five of the seven registered bidders actively participated.
Mr Pattaro was back online today selling 136 Doncaster Ave, Kensington for $2.465 million after bidding began at $2 million and was called on the market at $2.35m. Ray White Maroubra | South Coogee selling agent Amy Vella said there were eight registered bidders but it all came down to two very determined buyers.“I believe the successful buyer was a local, they are planning to live in the property and renovate down the track,” Ms Vella said.“The location was a big drawcard and being an unrenovated property it was a great opportunity to get into the Kensington market without paying the three to four million price tag for a renovated home.”In the capital, Ray White Canberra agent Peter Walker successfully put away 192 Dexter Street, Cook at a midday auction (pictured above) today for $813,000. Twelve registered bidders attended the auction with nine throwing their hats in the ring. Mr Walker said he had interest from a mix of buyers including investors, young couples and retirees.“It was popular because of the great location in close proximity to a major shopping centre, the quiet and friendly neighbourhood and the fact that the area is very tightly held and the home has a lot of potential,” Mr Walker said.Speaking from Melbourne, Ray White Victoria and Tasmania CEO Stephen Dullens said that market conditions remained extremely strong with real estate restrictions eased.“It has been so pleasing to once again be able to assist our customers right across Victoria and see such a strong recovery across the real estate market here in Melbourne,” Mr Dullens said.“Customers have wasted no time, with new listings to market being as strong as we have ever seen.“Conditions are so strong that across Victoria, Ray White has just had its biggest ever month, transacting $1.17 billion during the month of October.“This shows, once again, the underlying strength of the property market, with buyers and sellers keen to make up for lost time. We’re expecting a very strong period right up to Christmas and beyond.”Ray White Victoria chief auctioneer Matthew Condon said the state’s auction and real estate market continued to go from strength to strength.“The first weekend in November saw a higher than normal volume of auctions, which was met with equal demand from buyers,” Mr Condon said.“We are seeing more and more auctions returning on-site with the warm weather creating a very healthy attendance of neighbors, spectators and buyers alike.“It is also great to see that Ray White agents are utilising technology on-site and allowing buyers to bid online if that is their preference.“Overall, we're expecting to see these strong results in activity continue for the remainder of 2021.”
No. 9 Rosstrevor Cres, Mitcham changed hands today from downsizers (pictured above) to a young couple who were eager to buy the three bedroom, white picket fenced home.The property sold through Ray White Blackburn director Peter Schenck for $1.642 million, with six registered bidders in attendance.Mr Schenck said the winning bidders made use of the hybrid on-site and online auction offering and bid virtually.“The buyers were a young couple who weren’t able to attend in person as they had a newborn baby,” Mr Schenck said.“Meanwhile, the underbidders were a couple who are getting married tomorrow. They were disappointed but after seeing how well the auction went they are auction converts and have approached us to sell their home when the time comes.“The result just shows how powerful and successful the hybrid auction method can be. The auction was still competitive but it also meant buyers who might not have been able to attend were able to be involved.”In Box Hill North, a classic four bedroom townhouse sold for $1.466 million earlier this morning. Ray White Mount Waverley selling agent Eric Liu said all three registered bidders actively battled it out for the 1B Cherry Orchard Rise home, with office managing director Courtney Matthews conducting the auction.“It’s an interesting story, the sellers bought the land from me last year and just finished developing the townhouse this year,” Mr Liu said.“The buyers were a young first home buying couple but I also received interest from downsizers, upsizers and investors throughout the campaign.”Mr Matthews also had a standout auction today, selling 19 Meadow Cres, Mount Waverley for $1.99 million with a reserve of $1.8 million to a buyer wanting to develop the site. The auction attracted four registered bidders with two going head to head for the keys.“The buyer wants to build two luxury homes on the site - one to live in at the back and then one they plan to sell,” Mr Matthews said.“The home wasn’t heavily inspected throughout the campaign just because the home isn’t that big comparatively for this market so there wasn’t a lot of foot traffic but it’s a really pretty spot with a beautiful outlook over the parklands.”Topping the leaderboard for most registered bidders was Ray White Mill Park agent Daniel Nardella’s auction at68 Wilcox St, Preston. The property sold for $1.31 million to an audience of 35 registered bidders, with a reserve of $900,000. Mr Nardella said the property was very appealing to buyers.“The house is in a sought-after pocket of Preston, it has a lovely facade and a lot of people have Block fever so they are looking for something they can renovate and put their own touches on,” Mr Nardella said.“The buyers were a young couple looking for their first home and planning to renovate it down the track.”
In Brisbane, Ray White Queensland chief auctioneer Gavin Croft said the network was off and racing at the start of the week, which began with the race that stopped the nation.“The lead up to Saturdays are always interesting to see what unfolds, as we generally find the in-room auction events we hold during the week will flow on to Saturday,” Mr Croft said.“On Tuesday night, following the Melbourne Cup, it looked like some people had won big at the races because bidding was particularly strong for the Ray White Upper Coomera auction event with an 100 per cent clearance rate.“As we come into Saturday, again it’s great to report an 100 per cent clearance rate personally.“The interesting thing we continue to see is the speed of bidding now - buyers are coming more prepared than they ever have at Brisbane auctions.”One of Mr Croft’s highlights today was 81 Yundah St, Shorncliffewhich sold through Ray White Aspley agent Kristel Koidu for $1.7 million to an Adelaide family after a competitive auction attended by seven registered bidders.The top Queensland sale of the day was at 43 Hipwood Rd, Hamilton which sold for $2.625 million through Ray White Ascot agent Oliver Jonker.Mr Jonker said the buyer wasn’t leaving the auction until they had the house.“The buyer loves music and saw that there were two pianos in the photos of the house which is the only reason they decided to inspect it. After that, they inspected the home five times over the course of the campaign,” Mr Jonker said.“I received a lot of interest from families both local and interstate - one bidder was on the phone from Sydney.”Twenty nine bidders registered for the auction of 35 Pareena Cres, Mansfield (pictured above) today in the hopes of claiming the four bedroom home which eventually sold for $1.252 million - $287,000 above reserve. But only one could be the winner and it was a young couple who had recently married and were moving out of a townhouse.Ray White Annerley principal Geoff Sellars said the lifestyle aspect of the suburb had made it extremely popular with both Queenslanders and interstate buyers.“The school zone and lifestyle living are big parts of Mansfield’s popularity and that family demographic has been very active in the market lately. They are confident and well-informed auction buyers,” Mr Sellars said.“But it’s not just locals who have been looking at Mansfield, we also had nine online interstate registrations today to add to the other 20 on-site bidders.”
Ray White South Australia chief auctioneer John Morris said if Adelaide was once a ‘sleepy town in which auctions didn't work’, that is all completely and utterly changed in 2021.“Of the 4,500 properties that are currently listed throughout the state 12.5 per cent of them are for auction which is unprecedented,” Mr Morris said.“If October was a good month for auctions for Ray White then November is looking as though it is going to eclipse that, if this first week is anything to go by.“So as I said before, if Adelaide was a sleepy, old town, that sleeping giant has well and truly woken up and everybody has embraced that auction method as the preferred method of sale.”Ray White Adelaide started the morning off strongly with an early auction at 1-5/1 L’Estrange St, Glenside. The block of five units under one title went for $2.11 million - $110,000 above reserve.George Kargiotis of Ray White Norwood conducted the auction which attracted 10 registered bidders. Selling agent Marcus Cengarle, also from Ray White Norwood, said all of the buyers were either investors or developers.
“There weren’t many people who attended open homes, we had nine groups in total but all the enquiry was over the phone or email as buyers only needed to know the dimensions of the block as it was primarily a development or investment site,” Mr Cengarle said.
“Nine of out the ten registered bidders didn’t come to a single inspection and the successful buyer was an investor.”Chief auctioneer John Morris was also busy this morning, conducting a successful auction out the front of 18A Patola Place, Magill (pictured above). The modern, 2012-built home went for $835,000 and was called on the market at $815,000. Ray White Adelaide CBD agent Chris Xu said the buyers were a young first home buying couple.“We had a total of 12 registered bidders and four active bidders. The successful buyers were so excited about their purchase,” Mr Xu said.“Magill has been really popular recently because it’s a good entry point to the beautiful eastern suburbs.“You have good schools in the area, the shopping centre and a lot of conveniences so that’s where most young families want to get into.“This property was especially desirable because of its location in a good part of the suburb on a cul-de-sac.“The sellers are also thrilled, it was their first home and they raised their family there but now they need more space.”
