No winter blues for property

Ray White NSW | ACT state auctioneer Perry Edmondson-Clark (pictured below) said it was another strong week of results for auctions across the group in New South Wales.

“There were 173 auctions scheduled for the Ray White Group in New South Wales today,” Mr Edmondson-Clark said.

“Early data shows that today will maintain, not only strong numbers, but strong clearance rates under the hammer, meaning there is a great level of momentum heading into the winter selling months.

“The auction method continues to see buyers put in a competitive environment which allows sellers to know they have tested the market’s best price.”

17 Ocean St, Yamba

• Sold for $5.8 million

• Six registered bidders and four active bidders

• Agent: Daniel Kelly

• Ray White Yamba

“We had five registered bidders when the auction opened and a couple who know the area well, they are cattle farmers who split their time between here and Guyra were riding bikes around town, saw the open home and stood in the crowd. As we had paused for negotiations, they came over and asked to register, then bought it - it was the first time they’d seen the property,” Mr Kelly said.

“It’s more of an investment and family holiday home, they have adult children who will share it.

“It was a good campaign, it was on the market for five weeks to today and we saw something along the lines of 50 to 55 inspections so enquiry was good, as it usually is on these types of properties.

“Interest was all from holiday home seekers with buyers coming from Brisbane, Sydney and Melbourne.

“It’s right on the front row of our main beach and has three units on one title so it’s probably the only property of that kind on this beachfront. It was only the second time it had been sold in 60 years.”

9 Penkivil St, Willoughby

• Sold for $3.65 million - $350,000 over reserve

• 11 registered bidders and four active bidders

• Agents: Jessica Cao and Lyndon Towns (pictured above with the seller)

• Ray White Upper North Shore

“It was like a textbook auction, we quoted $3 million and the auction started at that point. Bidding went up in $100,000 bids until we got to the reserve, then kept going up in $50,000 increments until the eventual sale price,” Ms Cao said.

“We had mainly young families looking at it including the buyers.

“It’s in a really nice, convenient location. It’s a very good next level home for someone upgrading from a townhouse or apartment. It’s single level with four bedrooms, high ceilings and double brick.

“The price was a record for the street.”

3/1 Lilac St, Punchbowl

• Sold for $895,000 - $45,000 above reserve

• Two registered bidders and active bidders

• Agent: John Yatman

• Ray White Punchbowl

• Auctioneer: Georgia Turner, Ray White

“We had a mix of first home buyers and some downsizers given the property was a single level villa, but most of the interest came from those buyers looking for an entry level property,” Mr Yatman said.

“Both bidders were owner occupiers. The buyer (pictured at top with Mr Yatman and Ms Turner) was a young man who had sold his unit and was upgrading to a villa. He has friends in the area and liked the convenient location and price point.”

Ms Turner has been training with Ray White New South Wales’ auction team and called her first public auction today at 3/1 Lilac Street. The young gun auctioneer said it was an amazing experience and is excited for her next one.

Ray White Victoria chief auctioneer Jeremy Tyrrell said real estate is a numbers game and the numbers this week were looking great.

“The Ray White network across Victoria had 229 auctions scheduled for the week, an increase of 61.7 per cent against the same period last year,” Mr Tyrrell said.

“There’s no doubt that stock levels are up, however with population growth booming and a 90 per cent increase on new housing loan approvals according to mortgage broking group LMG, demand is keeping up pace.

“In fact this week the clearance rate for all auction properties, including sold prior or at auction, is at 75.4 per cent, an increase of 5.9 per cent year-on-year.

“That said, the numbers when selling your property need to support the outcome. Where properties show good value and the vendor is aligned with market feedback, buyers are there and properties are selling - you just need to ensure the numbers are on your side.”

181 Centre Dandenong Rd, Cheltenham

• Sold for $1.322 million

• Eight bidders

• Agents: Nick Strilakos and Tess Maxwell

• Ray White Oakleigh

• Auctioneer: Matthew Condon, Ray White

“It was an emotional purchase for the buyers, they are just about to have their first baby so they are upsizing and looking for something perfect to start their family,” Mr Strilakos said.

“The home is a really good starter in a sought after suburb and low maintenance for a big home. It was also under 15 years old which helped make it popular.”

17 Ridge Rd, Oak Park (pictured above)

• Sold for $1.17 million - $180,000 above reserve

• Eight registered and active bidders

• Agent: Ziya Koksal

• Ray White Glenroy

• Auctioneer: Matthew Condon, Ray White

“The sellers had owned the home for more than 10 years, they bought it off the builder who built it back when there was literally a gravel road outside,” Mr Koksal said.

“The buyers, now only the third owners of the home, were a young couple. One lives locally and the other lives on the bayside so this is their first home together.

“It started off with an odd number of $941,000 and then went up in $10,000 bids. Towards the end there were two buyer’s agents battling it out.

“Most of the bidders were young couples buying their second or third home but we also had a few first home buyers in the mix.

“Ridge Road is probably the best street in Oak Park and the house is cute and well maintained. It was definitely a draw for buyers.”

Ray White Queensland chief auctioneer Gavin Croft said showers and plenty of rain was the order of the day in Brisbane, but while it impacted crowd size, buyers were still out in force.

“It’s encouraging to see between seven and eight registered bidders was still the order of the day, just with very few observers out today,” Mr Croft said.

“There’s continuing, underlying strength in the Brisbane market, it remains on show and the market really responding to auctions shows week in and week out.”

9-17 Dickman Rd, Forestdale

• Sold for $2.35 million - $100,000 above reserve

• 21 registered and 12 active bidders

• Agent: Simon Au

• Ray White Sunnybank

• Auctioneer: Gavin Croft, Ray White

“Bidding started at $1.4 million so it went up nearly $1 million to the sold price. It was a fast and strong campaign capped off by a competitive auction with quick bidding,” Mr Au said.

“The property was on the market last year for $2 million with another agency but it couldn't sell. We focused on bringing in high end buyers from Brisbane’s south side, the property is in the Logan City council area but most of the buyers were from Brisbane.

“It’s a great block and Forestdale has become more popular in recent years. There were a lot of investors and developers looking at it but the winning buyer was an owner occupier.

“They are a young family who are going to build a house on the property. It was actually the wife’s birthday so she was very excited to get such a good birthday present.”

43 Woodlea St, Moorooka (pictured above)

• Sold for $1.573 million

• 22 registered and 12 active bidders

• Agents: Michael Nolan and Adam Edwards

• Ray White West End

• Auctioneer: Matt Sale, Ray White

“The home sold above reserve and it was a local buyer who bought it in the end,” Mr Nolan said.

“The majority of buyers were owner occupiers but there were a couple of investors too.

“We had over 100 people in attendance at the auction and great traffic during the campaign, over 100 people through the door in less than two weeks.

“It was just a nice spot and a good sized family home.”

86 Logan St, Beenleigh

• Sold for $$657,000

• 17 registered bidders and 12 active bidders

• Agents: Rebecca Cuderman and Isabelle Ogg

• Ray White AKG

• Auctioneer: Gavin Croft, Ray White

“There was fierce bidding before the property was sold to first home buyers. Anything with dual living potential is immensely popular in this marketplace and post auction, the ecstatic owners were off to grab celebratory drinks,” Ms Cuderman said.

Ray White AKG principal Avi Khan added that the last weekend of May is traditionally very busy in Logan as investors try to secure an investment before the financial year ends. However, today saw a surge of homeowners inspecting and bidding on properties.

Roxanne Liu from Ray White AKG also sold 6 Salix St, Sunnybank for $1.35 million with four bidders in attendance. The bidding got so intense buyers were heckling each other at one stage. The eventual buyer plans to knock the house down to build their dream home.

Ray White AKG’s Kenton De Klerk sold 26 Como Way, Redbank for $630,000 in front of an audience of nine bidders. There were over 20 bids as investors and homeowners alike battled it out to secure the low maintenance home.

“The eventual buyers were a young brother and sister from New South Wales buying their first investment property,” Mr De Klerk said.

“We are seeing a lot of families buying their first investment together and Redbank is a highly desirable area for investors. New South Wales investors find Brisbane very desirable for ease of buying.”