With the festive season only two months away, the window for buyers to have the paperwork done is beginning to close. While stock levels are recovering, there are still plenty of disappointed buyers from the last six months who are willing to pay premium prices to be able to have something to decorate come December.
Auction data from Australia’s leading agency has supported this competitive push from buyers as last weekend, average registered bidders hit 6.2 per auction. Clearance rates were similarly high as the Ray White Group recorded 73.4 per cent of auctions ended in an under the hammer sale.
After a record July through to September, Australasia’s largest real estate group is again on track for another outstanding month as buyers battle it out to close the deal before the holidays.
This competition is especially evident in Australia’s largest auction market which last weekend recorded a 75.4 per cent Ray White auction day clearance rate.
One of the most exciting new businesses in the group, Ray White Quakers Hill, has hit the ground running with two standout Saturday auctions.
Selling Principal Josh Tesolin, the super star agent who won the 2020 Rate My Agent Award for Number 1 in Australia, NSW Agent of The Year; Sydney Agent of The Year and Quakers Hill Agent of the Year for the third year in a row, is already on track for another year of success. This weekend Mr Tesolin will take 31 Prescott Circuit (pictured above) and 79 Bombala Crescent in Quakers Hill to auction.
“Prescott Circuit has been attracting families with a few kids who want to take advantage of the location, layout and good school catchment,” the top performer said.
“While Bombala Crescent has been popular with first home buyers. It’s had a top to bottom renovation with a swimming pool that is perfect for summer so it’s ready to move into.”
Prescott Circuit has had almost 60 groups through inspections and a price guide of $850,000. Both auctions will be called by Ray White NSW Auctioneer Tim Snell.
In the inner suburbs, Ray White Surry Hills | Glebe | Alexandria | Erskineville Director Ercan Ersan has an 1890s freestanding, Victorian home in Stanmore going to auction.
The three bedroom 207 Corunna Rd (pictured above) has a price guide of $1,400,000 and is set to sell under Auctioneer James Keenan’s hammer.
“Interest has come mainly from young couples and surprisingly a couple of investors which is rare at the moment,” Mr Ersan said.
“For a while Stanmore has been considered a safe, blue chip suburb which explains why we’ve had some investor interest.
“The younger buyers like that it’s a freestanding house, it’s modern without being over-renovated and still has a lot of period charm. There’s a lot of natural light and a great entertainer’s courtyard and garden.”
In Victoria, Melbourne agencies are back in the game this weekend with 39 properties set to go to online auction on Saturday.
In Blackburn, Steven Yuen of Ray White Forest Hill has had back to back private inspections of 87 Pakenham St (pictured above) after real estate restrictions eased.
Mr Yuen said the Pakenham St sellers feel now is the right time to sell.
“They have recognised that with the pent up demand we are seeing from buyers after lockdown that it’s a seller’s market,” Mr Yuen said.
“They’ve decided to sell this side of the year and not wait another six to 12 months when the market will be unknown.”
The four bedroom home has been popular with families and the Forest Hill Agent said 90 per cent of interested buyers have been attracted to the family friendly location and layout.
“They like that the house is in walking distance to the local primary school and train station and the opportunity it presents to upsize,” he said.
“Interest has been really pleasing, I think most people have been concerned that this type of stock has been struggling in the market but this house has been performing well.”
Ray White Cheltenham’s Kevin Chokshi will be conducting the auction for his listing at 2/8 Glyn Court, Cheltenham off the back of successful virtual and one on one private inspections.
Mr Chokshi said buyers know the property is a rare find in the area as there are only three units in the complex while most recent developments have more.
“The house has attracted a combination of first home buyers, young couples and downsizing buyers,” Mr Chokshi said.
“It’s in a great location, only 15 years old and has no body corporate, which have all been big selling points for buyers.”
The Cheltenham unit has a price guide of $680,000 to $720,000.
Meanwhile, Ray White Clayton Senior Agent Elroy Malowney said the online auction of 10 Laura St (pictured above) in Clayton South is expected to draw multiple bidders.
“We’ve had a total of 67 private inspections, we had a ton of buyers lined up after virtually inspecting the property prior to restrictions easing,” Mr Malowney said.
“There has been a mixture of family home buyers who want to extend and renovate but also a portion of developers as well who are planning a second dwelling or townhouses.”
Ray White Victoria Chief Auctioneer Matthew Condon has a full Saturday of online auctions including 1 Blinker Rise, Endeavour Hills. Selling Agent Nick Strilakos of Ray White Rowville said interest has been good on the three bedroom home.
“It’s a perfect property for first home buyers and small families because of the mid $500,000 price point, good size and location in a comfortable pocket of the suburb,” Mr Strilakos said.
“There has also been a couple of investors looking at it.”
It’s going to be a warm weekend in Queensland’s capital as buyers compete for their chance to own a slice of Brisbane real estate.
The standout auction will come in the afternoon at 89 Langton St, Banyo (pictured above). The two bedroom, 1920s character home is being sold by Ray White Aspley Agent Angela Duncan.
Ms Duncan said so far she has had 61 inspections but expects that number to rise above 70 by the end of the week.
“Interest has been through the roof. There is a small development opportunity but mostly people are looking at it as a lifestyle buy,” Ms Duncan said.
“They want the character and charm of the home and to expand on what’s there and to put their own stamp on it.
“It has so much potential as a family home. It has city views and beautiful period features that have been maintained by the seller, who has had it in the family since the sixties.”
Ray White Queensland Chief Auctioneer Mitch Peereboom will be conducting the 2pm auction.
The Adelaide auction market is continuing to ramp up going into prime selling season. This weekend, there is a long list of highlights beginning with the auction of 33 Fulham Park Drive, Lockleys.
Ray White Henley Beach Selling Principal Anthony Fahey said he’s had a massive 109 inspections of the Lockleys home.
“We are mainly getting young buyers looking for their second or third home,” Mr Fahey said.
“Some buyers are looking at it as an investment, others want to knock it down and rebuild their dream home while some are happy to renovate.”
Later in the day, Ray White Woodville Principal Peter Kiritsis will be continuing his solid run of spring auctions at 42 Ledger Rd, Woodville South (pictured above).
Mr Kiritsis said the character features of the Spanish mission and art deco designed home have been a big draw for buyers.
“Young families are looking at it because of the size – there are two living areas, two bathrooms and a big backyard for the kids,” Mr Kiritsis said.
“They also like the beautiful polished jarrah floorboards, decorative ceiling and ornate fireplaces and there is a good balance of informal and formal living areas.”
Ray White South Australia Chief Auctioneer John Morris will also be busy calling the auction of 39 Ballville St, Prospect from Ray White Norwood Agent Stefan Siciliano. And 39 and 41 Glenburnie Tce, Plympton selling through Ray White Marion | Brighton’s Scott Robinson. Both are expected to be competitive auctions.