Strong start to spring despite restrictions

ALL eyes were on Victoria last weekend as State Premier Daniel Andrews announced the Stage Four lockdown will continue to September 28 and a ban on private inspections until October 26.

As the strict lockdown continues in Melbourne, it has become increasingly apparent how important the real estate market is as buyers and sellers remaining in limbo become more vulnerable.

Last Saturday, Ray White took two Melbourne properties to online auction. Both were snapped up above reserve after some fierce competition, proving that there will always be a need to transact real estate.

Throughout the rest of Australia, auctions are largely business as usual as the Ray White Group recorded a 60.8 per cent clearance rate last weekend and an impressive 4.5 average registered bidders.

While many Ray White Melbourne offices are delaying auctions for a huge post-lockdown push, Ray White Manningham Agent Diana Dai is forging ahead with the auction of 79-81 King St, Templestowe.

The vacant 2176sqm corner block of land has a price guide of $2,600,000 to $2,860,000 and is going under the hammer through Ray White Victoria Chief Auctioneer Matthew Condon.

Ms Dai said despite restrictions, she is expecting a good sale with a number of developers showing interest.

“I have already had quite a few people express their interest to bid. So far I’ve had more than 50 enquiries which is a great number and am expecting more throughout the week,” Ms Dai said.

Watch the online auction here.

In Australia’s leading auction market, results have continued to be strong and this weekend is forecasted to be no different.

Ray White Surry Hills | Glebe | Alexandria | Erskineville Associate Director Matthew Carvalho will be kicking off the morning with 197 St Johns Rd, Forest Lodge (pictured at top) going under the hammer.

The four bedroom 1890s terrace home was designed by William Smart of Smart Design Studio and has a price guide of $2,400,000.

Mr Carvalho said the Forest Lodge house has been popular with upsizers.

“A property with this calibre of renovations and a wide block with enough space for a family doesn’t come up very often in this area so we’ve seen buyers flocking to inspections. So far we’ve had nearly 100 groups through the property,” Mr Carvalho said.

“Not many people know about Forest Lodge, it’s tucked away between Glebe and Annandale. The house is in a nice, quiet part of the suburb and just a quick walk away from Newtown.”

The Forest Lodge home auction will be conducted by Ray White NSW CEO Jason Andrew.

Meanwhile, the three week campaign for 54 Edwards Rd, Wahroonga (pictured above) is set to come to an end with an early morning auction through Ray White Upper North Shore Agent Rowan Lazar.

Mr Lazar said he has already given out over 10 contracts and had three offers made on the house.

“It’s a beautiful 1960s built cottage that has been nicely renovated by the sellers. It’s also close to public transports and schools and represents great entry level buying in Wahroonga,” Mr Lazar said.

“The home is perfect for downsizers and first home buyers because it’s cute and compact but also has room to push out if you want to.

“It may not be a Pymble mansion but it’s a great house and that segment of the market is extremely active right now so I am expecting a good auction."

The four bedroom cottage has a price guide of $1,250,000.

Spring can well and truly be felt in the sunshine state and so can the auction success after last weekend’s $8 million sale of 36A Oxlade St, New Farm (pictured above) through Ray White New Farm Principal Matt Lancashire.

This weekend, expectations are again high as Ray White Paddington (QLD) Agent Judi O’Dea takes 128 Kennedy Tce to auction in the morning. Ms O’Dea said interest has been high on the three bedroom Paddington cottage that even boasts an eye-catching fuschia door.

Not to be left out, Ray White Ascot Agent Oliver Jonker will be auctioning 27 Atkinson St, Hamilton in the morning as well. The Ascot agent said the city views have been wowing eager buyers.

“It’s a really well maintained Queenslander with a lot of charm. The nice city views are also very rare in Hamilton so that has been a real drawcard,” Mr Jonker said

“Interest is coming from across the board, we’ve seen investors, owner occupiers and interstate buyers."

In the afternoon, Ray White Cleveland Agent Vern Jensen will also have his share of the auction action at 24 McCullagh St, Cleveland. Mr Jensen said buyer interest has been coming squarely from growing families that need the extra space in a good location.

In Adelaide, Ray White Norwood Agent Brandon Pilgrim is taking a beautiful, four bedroom character home to auction later in the afternoon.

Mr Pilgrim said the Beulah Park home at 23 Osborn Ave (pictured above) has had plenty of interest from families looking to upsize to a bigger house.

“It’s a highly sought-after old character home built in the 1900s. It still has all the character features of an old cottage but they’ve been really well maintained and restored,” Mr Pilgrim said.

“The large allotment of land and great location are also very appealing for families.”

Fellow Ray White Norwood Agent Nick Borrelli has a more modern house up for auction on Saturday. The three bedroom home at 4 Indora Avenue, Ingle Farm has attracted strong interest from buyers and is set to sell well under the hammer this weekend.