The mid-winter auction market powers on, defying all the predictions of many pundits, with an increase in active registered bidders again this week.
The country’s largest auction house, Ray White had just shy of 300 auctions scheduled this week, representing 25 per cent market share nationally.
The leading group’s members booked a preliminary national clearance of 58 per cent with 4.7 average registered bidders per lot. That is up from two bidders a year ago.
All eyes were on Melbourne where its metro market was firmly locked down again and all auctions were held online once again. The group’s Melbourne members booked a preliminary clearance of 58 per cent today with a lot of sold priors.
Ray White Managing Director Dan White said the group’s members were very well prepared for the re-imposition of the Victorian restrictions given their extensive experience in active trading in April and May.
“Regardless of the auction environment, Ray White offices continue to deliver exceptional results while providing their customers with a safe environment,” Mr White said.
“Today shows you that buyers still have confidence in Victoria’s real estate market and they have embraced our purpose built technology.”
Ray White Victoria CEO Stephen Dullens said there had been some fierce online bidding today.
“Our members are experienced in trading through a contact conscious environment and holding online auctions plus private inspections. Our preliminary clearance is still a robust 59 per cent over the week.”
Ray White Glen Waverley recorded an impressive 100 per cent clearance rate today after selling seven from seven properties under auction conditions.
Director Andrew Davies said the team have taken online auctions in stride selling 70 of 77 homes virtually since April.
“It’s always difficult after big announcements like returning to a stage three lockdown and it’s hard to know how the market will respond but one things that’s clear is that the market is well and truly used to online auctions,” Mr Davies said.
“It’s exciting to see the way the team has maintained the focus on getting bidders to auctions. Throughout all the campaigns the agents were constantly communicating with vendors and today we were able to show that we could do it.”
One of the highlights of the day for Glen Waverley was the sale of 9 Thompson St, Glen Waverley that went for $1.190 million through agents Calvin Huang and Belinda Van Suylen.
Ms Van Suylen said the home was popular with buyers because of its clinker brick charm and character which is a bit out of the norm for the area.
“We had two active bidders of four, in the end one of the neighbours was the winning bidder after deciding to move out of the family home but not wanting to go too far,” Ms Van Suylen said.
“There’s still quite a number of people looking to buy, especially in Glen Waverley where there are still certainly people who have pre approved finance and are actively looking.”
Meanwhile Glen Waverley agent Alan Zhang had his own success with 2/2 Vivian St, Mount Waverley which sold for above reserve at $1.083 million.
It was smiles all around at 1 Crawley Court, Craigieburn in Melbourne today which sold for $537,000 after a strong marketing campaign with young gun agent and auctioneer Daniel Diamantopoulos of Ray White Craigieburn.
There were 11 registered bidders tuned in to the online auction and at least half of them were active in the spirited auction.
Home owners John and Kerryn Payne (pictured here) said they were thrilled with the result.
“We were anxious but we trusted Daniel and listened to him and followed the process,” said Mr Payne, who is a Beyond Blue speaker and SANE Peer ambassador.
Mr Payne is a mental health advocate who wrote a book called What My Eyes Have Seen after his time as a Country Fire Authority firefighter.
He says he struggled with PTSD after Black Saturday in 2009 which ravaged parts of Victoria.
“I had to hang up my boots from the CFA but I want to help others who struggle with depression. We built our home in 1992 and it was a wonderful place for us, lots of happy memories. Now we are effectively downsizing empty-nesters and we are going to have a tree-change,” Mr Payne said.
“Our son has acreage some 45mins away and we are going to build a house for us on his land.”
Mr Payne thanked the Ray White Craigieburn team for all their help.
“Daniel is such an experienced operator so we listened to his advice. He gave us100 per cent and has the utmost care and compassion.”
Mr Diamantopoulos said the house was so popular as there was still not much stock for sale and a lot of buyers are looking.
“I had 60 people through the campaign and 32 alone at the first open home. Stock is still low plus interest rates are still low and that is driving competition.”
Sold through the Ray White Werribee Director Robert Krnjeta, the three bedroom home went to a first home buyer couple who had only been looking for about a month.
Mr Krnjeta said the sale is evidence that there hasn’t been a drop in the market in the area.
“The market is still strong, people still need to buy and sell which is clear by the seven registered bidders we got today,” Mr Krnjeta said.
“Despite the doom and gloom predictions, now is a good time to sell. There’s lots of confidence in the market and still a lot of active buyers.”
Selling well above reserve, 34 Chadstone Rd, Malvern East recorded an impressive $1,406,500 sale through Ray White Carnegie agent Gerry Setiyadi.
The Carnegie agent said there were seven registered bidders with the three bedroom, brick home going to a young buyer from nearby with the help of her parents.
Ray White Oakleigh senior sales agent Leigh Kelepouris said there is a lack of good family homes in the Oakleigh South area leading to some competitive bidding over the three bedroom home at 5 Delos St.
The well presented family home went for $1.136 million after more than 80 groups inspected the property and seven bidders registered. Mr Delos said good quality homes are always going to sell well no matter the circumstances.
“We expected this house in particular to sell well, the owners made it easy by presenting it well and putting in the effort which really helped buyers emotionally connect with the house,” Mr Kelepouris said.
“The family who bought it had already sold their house and the underbidder was from interstate so they were both in need of somewhere to call home irrespective of what’s going on right now.”
Meanwhile. Ray White Surry Hills sales agents James Natoli and Jack McGhee today sold 445 Crown St, Surry Hills for $2.4 million.
The three level designer terrace – complete with a sandstone walled wine cellar that holds 600 bottles – was directly opposite the Ray White office in the heart of the vibrant inner west.
“I was never late for an open that’s for sure. I loved this property, it’s immaculate and ticked all the boxes,” Mr Natoli said. There were 12 registered bidders vying for the home.
A large crowd turned out on a rainy Saturday morning to watch the auction. Auctioneer James Keenan had to move the auction inside with only registered bidders allowed inside. “Most of the buyers had been looking for at least six months or longer. “
Mr Natoli said most of the enquiries came from his database, by cross-matching buyers and underbidders.
“We have a very deep database of buyers and there’s not a lot of stock over $2 million in this suburb, so stock is light on.”
The prized corner setting in a row of Victorian Italianate style terraces at 1 Angel St, Newtown today sold under the hammer this morning for $1.250 million.
Ray White Surry Hills sales agent Nathan Briggs said there were five active bidders in the hunt for Valerie Collins’ home.
Ms Collins, pictured with her son Hills Cr Brooke Collins, has lived in terrace for the last 76 years. She is now moving to Kellyville to be closer to family.
“I took some 140 buyers through during the campaign and the winning bidder is so happy – she is moving from Newcastle with her kids,” Mr Briggs said.
“Both parties are happy. The house is listed on the state heritage register which means you cannot add a second level.
Cr Collins said it was a happy day for the family.
“This is my family home where I was born and grew up. I guess it’s a bit surreal really but mum is very happy. She’s been living with us for the last few months and we’ll find something soon for mum that is close to us,” Cr Collins said.
“She was one of nine brothers and sisters and five kids lived in the house at one point. It’s a good result and we are happy with Nathan and the team.”
Today at 7/159 Enmore Road, Enmore, Ercan Ersan of Ray White Surry Hills | Erskineville | Glebe and Alexandria broke the two bedroom unit apartment record in Enmore, when he sold the unit for $1.3 million to a first home buyer couple.
“I actually broke the same record when I sold it to the owners in 2018 for $1.29 million. And today it sold for $1.3 million, some $100,000 over its reserve. I held a four week auction campaign for the owners who are keen to move back to Avalon on the northern beaches,” Mr Ersan said. “It’s been a good day, lots of buyers and lots of good sales.”
In Rockdale agent Nicholas Economous sold 6 Herbert St for $1.53 million after some spirited bidding.
Ray White NSW Chief Auctioneer Alex Pattaro said the auction opened at $1.150 million for the federation family home.
The Ray White Rockdale agent said the owners were investors from Sydney’s Sutherland Shire and “over the moon” with the result.
There were 11 registered bidders and five of them were active in the auction held in the backyard under overcast skies.
The young couple who bought it were actually keen on the sophisticated home from the first time they saw it and also made a pre-auction offer of $1.350 million.
“So the buyer paid almost 12 per cent more because that is the power of auctioning property. The owners are wrapped but they had trust in the auction process,” Mr Economous said.
The marketing pro held 105 inspections of the property during its campaign.
“Everything was done right. The owners painted it, styled it, tidied up the gardens and spent money on marketing. The styling costs were around $4700, plus the marketing costs were $4700,” Mr Economous said.
“I am so passionate about marketing making sure we have zero regrets at auction.
“We also buy the best ads on the portals and I have a strong database in Rockdale. Presentation is the key to attract the buyers and this one was immaculate.”
Ray White NSW Chief Auctioneer Alex Pattaro said competition remains rampant at auctions across New South Wales.
“Premium prices within close proximity to the city CBD continue to outperform the greater parts of Sydney,” Mr Pattaro said.
“A low of eight per cent of auctions across New South Wales had no active bidding which is a clear indication that buyers are out in force. The sale at 6 Herbert St, Rockdale was another example of where there is competition there is premium price.”
Ray White Queensland Chief Auctioneer Mitch Peereboom said he’s seen some outstanding results across Ray White Queensland this week with a number of parties registering to bid.
“Our average number of bidders has remained strong over the course of the month,” Mr Peereboom said.
“If you’re in the marketplace and looking at coming on to the market over the next few weeks and months ahead, do think about your timing.
“We know that right now we can see strong results at auctions because of a little bit of lack of supply in the marketplace which is giving our buyers not the choice that they might usually see and resulting in some great sale prices.
“So certainly if we are looking at auctions and the results that we’re getting through creating competition, we’re so confident about recommending to come to the market.”
Today, what is possibly Brisbane’s only castle sold at auction for $880,000 after a campaign that Ray White Aspley agent Dwight Colbert described as “competitive and highly active”.
“It just goes to show that the market is still really strong at the moment and getting three registered bidders to battle it out over such a niche property tells me buyer confidence hasn’t suffered,” Mr Colbert said.
The five bedroom medieval home at 14 Ashley Rd, Chermside West was inspired by old world Portuguese architecture. It went under the hammer of Ray White Queensland Chief Auctioneer Mitch Peereboom.
After spirited bidding, Mr Peereboom welcomed the new owner Kevin Tabrizi of Tabrizi Home Builders who plans to subdivide the block.
“We haven’t once been daunted by recent market predictions and are excited about the potential the house and block of land can offer,” said Mr Tabrizi’s father and business associate Mohammad Tabrizi as his son signed the paperwork.
The real estate power duo sold the tri-level mansion to a buyer who hadn’t even seen the property in person. Based in Adelaide, the winning bidder had her eye on the waterside home from the beginning of the campaign and participated virtually.
Mr Guo said both the buyer and seller were thrilled with the result. He’s excited to add another sale to his board after completing five successful deals earlier in the week.
“We had six registered bidders with three active and about 40 people watching the on-site and online auction,” Mr Guo said.
“Interstate buyers are beginning to become more active with the borders opening and we are seeing a lot of interest from people itching to make the move to Queensland.”In Brisbane’s western suburbs, sellers Marie and Stuart McFarlane just netted $1.75 million for their five bedroom home at 30 Guthrie St, Paddington.
Despite being in the middle of renovations, the Brisbane couple made the decision to sell after Mr McFarlane took a job in Sydney.
“We had decided to see the renovations through after my husband accepted a job in Sydney but then COVID hit when we were preparing to move and finish the renovations,” Ms McFarlane said.
“We thought what’s the property worth unfinished and if we sold it as is would we get the same amount of money? Based on current renovated property sales we thought we’d put it to the market and we’re really happy with the results today.
“We’re so relieved, it means we can now move on to our life in Sydney without the hassle of doing any renovations so it’s all boxed up neatly.”
The five bedroom home sold through Ray White Paddington agent Angela Mastrapostolos who said the five week campaign drew plenty of interest but eventually went to a Taringa local planning to continue renovating the house.
Elsewhere, Ray White South Australia Chief Auctioneer John Morris said it had been a cracking start to the new financial year for the network with every metric on the rise year on year.
“Auction day clearance is up, campaign clearance is up, average registered bidders is much higher than previous years. We continued to control the auction space, some 38 per cent of all auctions held this weekend are flying a yellow flag,” Mr Morris said.
“We have some 44 per cent auction market share until the end of July. Two thirds of auctions have sold under the hammer today.
“The rain may be pouring but the sun is shining on those agents who embrace the auction process.”
In Adelaide, seven registered bidders pushed the price up to $510,000 in front of a crowd of 50 people at 13 Shelley St Tea Tree Gully.
Ray White Tea Tree Gully Principal Sam Domain today sold the huge 960sqm corner block at an on-site auction.
He said the solid brick and tile three bedroom home offered enormous potential.
“Developers were all attracted to this huge block. The winning developer is going to put four houses on the block,” Mr Doman said.
“The family had been there for 50 years and they are over the moon with the result. Feedback was in the mid-$400,000 but we will always take a campaign through to auction day.
“That’s the power of auctions, and John Morris was great. He brought the house down.”
Ray White Norwood agent Stefan Siciliano sold 9 Launer Ave, Rostrevor for $604,000 under the hammer.
“We had eight registered bidders and the winning buyer lives in the Barossa Valley wine region. It was a bittersweet sale for the deceased estate. Her daughter lives across the road and watched all the action.”