THE first weekend of spring is expected to bring more buyers but fewer listings than usual.
Throughout August, buyer numbers were firmly on the rise with 7.7 bidders on average per Ray White auction - an increase of 3.1 on the same time last year. Average active bidders have also risen from 2.6 last year to four this year. The clearance rate in August stayed high with 81 per cent of all Ray White listings that went under the hammer selling.Those vendors who went all the way to game day also gained on average 13.28 per cent more than if they had made the decision to sell prior.READ A BREAKDOWN OF RAY WHITE’S AUCTION DATA HERE. However, Ray White data shows a 15 per cent fall in total listings between this August and last year, while the number of new listing authorities increased by 7.3 per cent. But compared to July 2021, listing authorities have fallen seven per cent.FOR MORE REAL-TIME PROPERTY INSIGHTS READ THE RAY WHITE NOW REPORT HERE.The ban on private inspections in Melbourne has particularly impacted total listing numbers but despite the restrictions across Victoria, agents continue to do all they can to assist their customers - particularly with an urgent need to buy, sell or lease.In August, Ray White Melbourne booked a clearance rate of 88 per cent with 6.6 average registered bidders and 3.9 active bidders attending auctions either virtually or for a short time before lockdown, physically. This represents an increase in metrics from the same time last year.Ray White Victoria and Tasmania CEO Stephen Dullens said the restrictions banning inspections continues to cause distress to thousands of Victorian customers.“As lockdown conditions continue with restrictions not allowing physical, one on one inspections, each day we hear more stories of our customers with an urgent property need,” Mr Dullens said.“Be it for family, work or personal reasons, the need for customers to move and source property doesn’t change, even during a pandemic.“With strict restrictions in place, less and less properties hit the market - causing a further compounding of the problem. We as an industry believe we can operate in a manner that is safe for everyone.“As we did in 2020, we’d welcome the opportunity to engage further with the Victorian government to find ways to assist this small, yet very important part of our community as they make major life-changing decisions.”Despite these challenges, Ray White agents across the network are still gearing up for another weekend of successful virtual under the hammer sales.Ray White Mount Waverley area manager Eric Liu and managing director Courtney Matthews launched 32 Wave Avenue just before lockdown number six and was able to take through a few buyers but since then has overseen a number of virtual inspections.“With the opportunity to invest, develop or knock down and rebuild that comes with the property, buyers have been able to accept virtual inspections and still feel confident about bidding on the day,” Mr Matthews said.At the same time, Ray White Coburg agent Raphael Calik-Houston will auction 1/33 Hare St, Fawkner (pictured above) to an online audience of eager first home buyers and young couples. Mr Calik-Houston said lockdown hasn’t dampened buyer demand for the three bedroom home and is expecting a great result on Saturday morning.
In Sydney, private inspections are still allowed meaning buyers have been undeterred by the continued lockdown.In August, the clearance rate hit 86 per cent while average registered bidders came in at 8.7 and average active bidders sat at 4.1. Sellers who held off selling prior achieved on average 12.43 per cent more with their under the hammer sale. Like in Melbourne, these numbers have risen from the same time last year.Ray White Surry Hills | Alexandria | Glebe | Erskineville directors Ercan Ersan and Matthew Carvalho will each have a standout Sydney auction.In the morning, Mr Ersan is confident of strong bidding for 16a Francis St, Enmore from first home buyers and couples who have been priced out of the two bedroom house market.“They are opting to go down a price bracket and find something that they can enjoy for now and renovate to suit their needs down the track,” Mr Ersan said.Meanwhile, Mr Carvalho has moved the auction of 74 Bellevue St, Glebe (pictured above) forward a few hours to midday and is expecting a host of young families to log on and bid at the online auction.
Moving north to Brisbane, the spring selling season has begun with plenty of opportunities for buyers this weekend. In August, Ray White Brisbane recorded a 72 per cent clearance rate while average registered bidders sat at 8.1 and average active bidders came in at 4.1. Sellers who held off selling prior on average achieved 12.93 per cent more at auction.In Red Hill, buyers are falling in love with 26 Thorn Street which will go to auction on Saturday morning through Ray White Paddington agents Judi O’Dea and Michael Kleimeyer.
“The home was designed by the vendors with their own style in mind and is ready to move into as is, that’s why it’s attracting a lot of attention,” Ms O’Dea said.
“The attention to detail is beautifully done and the floor plan is perfect for young families. The flow to the yard and the pool from the kitchen is perfect, you can be relaxed and entertaining while still watching the kids play.
“It’s been like bees to a honeypot.”
Also in the morning, Ray White Ascot agent Andrew Flanagan will continue his auction hot streak at 7 Lamington Ave, Lutwyche. Almost 100 buyers have inspected the three bedroom property which Mr Flanagan said has been popular with entry level buyers.“The home is so close to Kedron Brook and has wonderful connectivity to the backyard. Buyers can either live in it as is or renovate the home,” Mr Flanagan said.Fellow Ray White Ascot agent Ian Cuneo has also overseen around 100 inspections of51 Constitution Rd, Windsor which will be going under the hammer on Saturday. The north side home has been in high demand from both first home buyers and investors.
Meanwhile, Ray White Bulimba principal Brandon Wortley will be conducting an auction on a “unicorn street” in Hawthorne this weekend. No. 15 Stewart Street (pictured above) will go under the hammer after more than 80 inspections throughout the campaign and significant local, interstate and international interest.
“Stewart Street is what we call a unicorn street in a market. It is extremely well regarded and highly sought after with houses rarely becoming available for sale,” Mr Wortley said.
“Hawthorne is also undergoing rapid acceleration in market conditions with our average registered bidders for auctions being 12 at the moment.”
In Adelaide, auctions will continue as normal this spring after a year-on-year August increase to a clearance rate of 87 per cent and 10.2 registered bidders on average. Sellers also netted 15.94 per cent more under the hammer than if they had sold prior.
This weekend, Ray White Port Adelaide principal Nick Psarros will auction a classic Spanish-style villa at 93 Queen St, Alberton (pictured above).
“The home is the perfect opportunity to get yourself into the tightly held suburb of Alberton,” Mr Psarros said.
“We have had great numbers through and it should be a very busy auction with the property appealing to investors and first home buyers.”
