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The Ray White Group had 502 auctions scheduled nationally alone today, with 4.2 registered bidders attending auctions nationally, with 3 bidders actively participating on average.

The leading group recorded an impressive 77 per cent preliminary clearance rate by late Saturday.

Speculation continues to build as to when the Reserve Bank of Australia will cut the cash rate.

Ray White Chief Economist Nerida Conisbee said that while there are different ways to consider this, it will be driven mostly by what happens to inflation over coming months, and also the timing of data releases.

With the RBA board meeting this Monday and Tuesday, market watchers will be keenly awaiting the outcome.

“Monthly inflation is currently at 3.4 per cent. While this is very close to the RBA’s inflation target of between two and three per cent, it is likely that they will wait for March 2024 quarterly inflation. This will be available on April 24. If it does come in at below three per cent, the earliest they will likely cut would be at their next board meeting on the May 7,” Ms Conisbee said.

Ray White’s top auction sale of the day was in Sydney’s inner west. The stunning converted warehouse at 2 Gilpin St, Camperdown sold for $3.75 million through Ray White Glebe principal Matthew Carvalho.

The auction with the highest number of bidders today was in Parafield Garden in Adelaide. There were 19 bidders at Ray White Grange agent Tristian Kennedy’s auction at 29 Tripodi Circuit, Parafield Gardens which sold for $1 million.

Perry Edmondson-Clark, Ray White Corporate NSW state auctioneer, said activity remained strong across NSW today, with auction volume remaining high compared to 2023 with 131 scheduled auctions today.

“There was competition across all segments of the market, a highlight for me today was 11 registered bidders on a three bedroom unit in Ramsgate Beach from first home buyers to families and investors. All types of buyers are continuing to pursue the Sydney property dream," he said..

“Buyers’ appetites are continuing to lap up the higher volume of stock on the market, owners are reminded not to become complacent, strong prices are only being achieved when the process is followed.”

2 Gilpin St, Camperdown

  • Sold under the hammer for $3.75 million

  • 1 registered bidder

  • Lead agent Matthew Carvalho - 0404 006 744

  • Ray White Glebe

  • Auctioneer: Tim Snell, Ray White NSW CEO (pictured below)

Mr Carvalho said the sellers (pictured below) are delighted with the result, and are now downsizing. “The buyer was a mature gent who is moving back to Sydney. He had a buyer’s agent and we had a crowd of around 30 people. The market doesn’t feel as hot as it did a few weeks ago, but it’s very property specific and the renovated properties are doing very well.”

4/126 Chuter Ave, Ramsgate Beach

  • 11 registered bidders, 6 bidders

  • Sold under the hammer $1.142 million

  • Lead agent: Nicholas Economos - 0409 553 555

  • Ray White Rockdale

  • Auctioneer: Perry Edmondson-Clark, Ray White

There were a lot of upsizers, and first home buyers wanting to buy this three bedroom unit in Ramsgate Beach. The buyer was a man from Chiswick who bought it for his mum. “It was a good auction, and my seller Danny is happy. He has lived there since the 1970s, some 54 years! He just bought a more modern two bedroom apartment.” Elsewhere Mr Economous sold 258 Forest Rd, Bexley sold for $1.660 million with eight registered bidders and four active. “My sellers live in Earlwood, and this was their investment property which they sold to upsize in the eastern suburbs. There is still a lot of buyer activity right now, but it’s so important to get the process right.”

  • 11Blenman Ave, Punchbowl

    • 9 registered bidders, 5 active bidders

    • Sold under the hammer for $1.162 million

    • Lead agent: John Yatman - 0423 344 868

    • Ray White Punchbowl

    • Auctioneer: Alex Pattaro, Ray White

    Mr Yatman said it was an exciting auction that kicked off at $850,000 and then jumped to $1 million.”The sellers wanted to knock down and rebuild but construction costs are simply too high so they have sold. The buyers are upgrading from a townhouse nearby. There’s still a lack of stock, confidence with less rate rises and people seeing the end in sight of the rate rises fueling these results.”

    72 Dartford Rd, Thornleigh

    • 6 registered bidders, 4 active bidders

    • Sold under the hammer for $3.398 million

    • Lead agent: Amy Kaslar - 0438 404 444

    • Ray White Upper North Shore

Amy Kaslar of Ray White Upper North Shore sold 72 Dartford Rd Thornleigh today at a huge auction for a suburb record of $3,398,000. “There was a huge number of attendees watching on, and active bidding started at $2.85 million.”

Pictured above - buyers on the left (young family with two young boys moving into the area) and sellers on right (moving to Newcastle after their kids have left home).

Ray White Victoria Chief Auctioneer Jeremy Tyrell said auctions were back in full swing across Melbourne and the state of Victoria following the Labour Day long weekend break.

“Auction volume surged by over 45 per cent for the Ray White network this week with 269 auctions scheduled, whilst across the broader real estate industry, new listings to market have also increased at a similar level of around 49 percent year on year,” he said.

“Even with this surge in property supply, buyer demand remains highly active with preliminary clearance rates already tracking north of 88 percent.

“During the week, Ray White Melton held an in-room auction event at the Melton Entertainment Park. Director Joe Mavrikos commented it was an incredible evening of sales and activity, with 11 properties out of 12 selling under the hammer.

“As we move towards Easter, the first school holiday break and the end of the first quarter, these market conditions are set to continue.”

7 Pendle Close, Gladstone Park

  • 5 registered bidders, 5 active

  • Sold under the hammer for $759,000

  • Lead agent/auctioneer: Phil Mercieca - 0402 419 827

  • Ray White Gladstone Park

Mr Mercieca said that in front of a large crowd of 60 people, five active bidders went into bat, “In the end it was a beautiful first home buyer couple who won the keys, and my sellers are so happy. I sold it to them as first home buyers 18 years ago, and now they have moved to Greenvale.” Pictured above the buyers on right and vendors on left, with Phil Mercieca.

11 Kilbride St, Keysborough

  • 6 registrations, 4 active

  • Sold under for hammer for $775,000

  • Lead agent: Yuni Kim - 0421 151 988

  • Ray White Ferntree Gully

  • Auctioneer: Andrew Martin, Ray White

Mr Martin said the auction opened at $620,000, and quickly moved up in $20,000 increments and got to $700,000. “It was a first home buyer who won the keys, he was bidding very aggressively for the property. Some bidders paused and dropped out at that level. The sellers were a young family who are moving into a bigger home.”

Ray White Queensland chief auctioneer Gavin Croft said there was some real strength in the market above $2 million. "This price bracket really has some energy about it. A real personal highlight today for me was 50 Whytecliffe Pde, Woody Point which Damien Misso of Ray White Woody Point today sold for $2.5 million in front of a really big crowd.

“Where we are seeing the biggest buyer pool is properties in $1 million to $1.5 million range. It really is one of the highest registration volumes that we see at the moment. There is more choice coming for buyers which is good news, as there has been limited supply. The volume of auction bookings coming through is really going to peak in April which is good news for those looking to buy, and for sellers to keep an eye out on it. The current market is being driven by low supply and we may see some changes there.”

The top Queensland office, Ray White Collective, had 30 auctions booked today for their regular in-room event. The group sold 15 properties under the hammer at The Calile Hotel, plus five had sold prior, totalling $30.4 million in sales for this event.

Ray White Collective principal and chief auctioneer Haesley Cush said 20/30 was a solid 66 per cent clearance.

There were 99 registered bidders, and more than 300 people watching the market action.

“I sold six in a row, then one would pass in, then another six in a row would sell. The mood in the room was highly energetic. People were bidding loudly. The belly of the market was active today,” Mr Cush said. The top sale today was $2.360 million for an entry level property at 125 Kent St, New Farm, meanwhile the exceptional prestige home called Toomoo at 86 Hillside Cres, Hamilton passed in at $8 million with negotiations still ongoing. Agent Keenan Smith also sold his grandmother’s Gold Coast unit at 3/209-211 Golden Four Drive, Bilinga today for $1.130 million with eight active bidders doing battle.

20 Pleasant St, Red Hill

  • 5 registered bidders, 4 active

  • Sold under the hammer for $1.760 million

  • Lead agent: Judi O’Dea - 0417 009 635

  • Ray White Paddington

“What an unbelievable auction! This was a three bedroom newly renovated cottage, with more work to do to add value and my sellers were a lovely young couple with three little kids. They were on the phone as they had attended a wedding in Melbourne yesterday. They are over the moon. And the buyers are from Sydney buyers, they used a very good local buyer's agent Hilary Martin. In fact three of the bidders today were interstate buyers. And there would have easily been 50 people watching on,” Ms O’Dea said.

117 Armfield St, Stafford

  • 11 registered bidders, 3 active

  • Sold under the hammer for $1.225 million

  • Lead agent: Alistair Macmillan - 0410 636 221

  • Ray White Wilston

A local investor has made $395,000 in four years after he sold this lovely renovated four bedroom investment property today for $1.225 million. Mr Macmillan said he sold the property to the investor four years ago, who was thrilled with today’s result.

“The bidding opened at $1.1 million and then there were two bidders who got it to $1.2 million which was the reserve. One bidder increased to $1.225 million and then there were no further bids. It was a fast auction with a decent crowd of around 30 people. There remains strong demand for renovated properties. A local first home buyer couple is stoked to win the keys.”

24 Bareki St, Wurtulla, Sunshine Coast

  • 8 registered bidders

  • Sold under the hammer for $1.35 million

  • Lead agent Ryan Cramer - 0450 607 926

  • Ray White Kawana Waters

Today saw the property at 24 Bareki Street, Wurtulla change hands after 36 years of ownership. “Joe, our 99 year old seller, was in attendance to see eight registered bidders fight it out. In original condition the home had strong buyer interest due to its desirable beachside location,” Mr Cramer said. “The eventual buyers were an elderly couple, in their 90s looking to re-secure a property along the coast after selling out of the area some several years ago.” The bidding started low at $800,000 but quickly rose to $1 million with four bidders, then two bidders went toe to toe from $1.1 million to the eventual sales price of $1.35 million.”

53 Main Ave, Wilston

  • 10 registered bidders, 4 active boidders

  • Sold under the hammer for $2.1 million

  • Lead agent: Andy Flanagan - 0412 318 086

  • Ray White Ascot

Mr Flanagan said a developer bought the property for its potential to build townhouses on the land. “It’s in the sought-after Avenues area and has the right zoning to build on. My seller was finalising an estate, so it was a bittersweet sale but a fantastic result for them.”

45 The Parkway, Stretton

  • 7 registered bidders, 3 active

  • Sold under the hammer for $1.62 million

  • Lead agent Avi Khan - 0400 666 809

  • Ray White AKG Projects

Mr Khan had seven bidders arrive to do battle for this immaculate home in Stretton. “Just 13 bids later this property sold in the 888 estates in Stretton! The winning buyer found the house just 16 minutes before the auction started and bought it for him and his fiancè! They were moving from a unit on the Gold Coast to Brisbane.” Mr Khan said the number of buyers his team are seeing coming from the Gold Coast was an all time high.

98 Mount Huntley St, Park Ridge

  • Sold under the hammer for $826,000

  • 6 registered bidders

  • Lead agent Ryan Trama 0448 295 135

  • Ray White Marsden

“This sale created an estate record in the Rise Estate in Park Ridge. Bidders are looking for a transparent way to buy and this auction created competition for the sellers to create another record price. Park Ridge has become a very derivable area for investors and homeowners alike,” he said.

Ray White South Australia Chief Auctioneer John Morris said he’s never seen anything as strong as the market in South Australia. “Over the past few years and 2024 so far is nothing short of spectacular. We have a 40 per cent rise year on year for auctions so far and the clearance rate is in excess of 80 per cent. Our bidder registrations average 7.5 for the year so far. I don't think I've ever seen the beginning of a year as strong as this one.” Mr Morris said.

“Next week we’ve got 88 auctions scheduled, the strongest week so far for the year. If we look back pre COVID we were lucky to get 50 auctions per month in South Australia now we get a minimum of 50 auctions per week. It just shows the strength of the market not only around Australia but particularly in South Australia at the moment.”

23 Luprena Ave, Ingle Farm

  • 31 registered bidders, 7 active

  • Sold under the hammer for $693,000

  • Lead agent Nick Borrelli - 0432 270 893

  • Ray White Campbelltown

On Friday night, there was a crazy huge turnout with more than 80 people watching on and a big result in Ingle Farm.

An incredible 31 registered bidders arrived at 23 Luprena Ave, Ingle Farm, which Nick Borelli of Ray White Camperdown sold for $693,000. The price was about 30 per cent above reserve.

“The house was a charming older property with endless potential - a developer's delight. And sure enough a local developer bought it. We had so many bidders we ran out of bidder cards! Luckily I always keep spares in the car for days like this.”

5A Lyle St, Para Vista

  • 12 registered bidders, 5 active

  • Sold under the hammer for $685,000

  • Lead agent Brijesh Mishra - 0430 140 905

  • Ray White Para Hills

Mr Mishra said this was a cracking auction. “We sold the property $25,000 over the reserve price with 12 registered bidders and 5 active bidders. The reserve price was $660,000.” Mr Mishra pictured above with the happy buyers today.

2 Victoria St, Klemzig

  • 16 registered bidders, 4 active bidders

  • Sold under the hammer for $920,000

  • Lead agent Mannas Chan - 0451 858 389

  • Ray White Norwood

Mr Chan, who was also the vendor, said his house cleaner was the buyer. “She loved the house. She offered me $820,000 before it was up for sale, then $860,000 once it was online and we proceeded to auction and she paid $920,000. I bought the house four and half years ago. My wife and I moved out, did some renovations and styled the house so it was vacant during the campaign. We had a lot of interest, and there was a big crowd today at the auction."

9 Maria St, Salisbury Downs

  • 9 registered bidders, 4 active

  • Sold under the hammer for $650,000

  • Lead agent: Ryan Stapleton - 0400 047 114

  • Ray White Norwood

This Salisbury Downs property sold for $650,000 to an online bidder in New South Wales. “The online bidder had been looking for awhile with us, and won the keys today,” Mr Stapleton said.

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