Auctions hot despite winter chill

Despite the winter chill being felt across the country, auctions remained hot, with the Ray White Group scheduling 406 properties to go under the hammer today.

The recorded a preliminary clearance rate of 64.4 per cent, with an average of four registered bidders and 2.5 active bidders per auction.

The top result of the day went to Ray White Parramatta Group’s Broderick Wright who sold 36 Pemberton St, Parramatta, under the hammer for $2.67 million.

The auction with the highest number of registered bidders went to Ray White Burleigh Group agent Travis Miller who recorded 36 registered bidders at his auction at 9 Scullin Street, Mudgeeraba.

According to NurtureCloud data, Ray White agents met 21,142 people at open homes across the country today, with the most popular property being 4/15 Hill Avenue, Cumberland Park, in South Australia with 58 attendees. The property is being marketed by Robbie Smith of Ray White Unley | Colonel Light Gardens.

SYDNEY

Ray White NSW auctioneer Alex Pattaro said there was plenty of activity in the NSW property market.

“There remains plenty of positivity in the marketplace as we continue to see plenty of registered bidders attend Sydney auctions despite good activity,” Mr Pattaro said.

“Buyers remain cautious and reluctant to stretch their budget unless good competition presents itself on auction day.

“Sellers are urged to really consider the on-the-day auction prices as market value, as more stock is currently on the market and due to come to market, meaning the supply and demand dynamic is changing.”

36 Pemberton St, Parramatta

• Sold under the hammer for $2.67 million

• Lead agent: Broderick Wright - 0416 194 157

• Ray White Parramatta Group

• 10 registered bidders, two active

• Auctioneer: Paul Wright, Ray White

Mr Wright said bidding opened at $2 million.

“Both active bidders were young families upgrading in the area.

“My father actually sold the buyers their property 22 years ago, and now they’ve bought off us again 22 years later.

“My father was actually the auctioneer today, and they remembered him more than two decades later.

“Now we’re also going to sell the house they’re upgrading from again.

“This property has a big block of land so close to Parramatta CBD which is ultra rare. To get almost 1000 sqm this close to the CBD is fantastic. It’s a solid five bedroom home with good bones you could easily work with.”

1/240 Carrington Road, Randwick

• Sold under the hammer for $1.251 million

• Lead agent: Justin Bell - 0412 429 300

• Ray White Park Coast East

• Six registered bidders, four amazing

“The winning bid went to a young first home buyer who is moving over from Perth, she’s a young up and coming singer,” Mr Bell said.

“Most of our bidders were first home buyers, young couples.

“The market has been quite good, there’s a lack of stock so it’s a really good time to sell. “There’s a lot of first home buyers trying to get into the marketplace.

“In the eastern suburbs, anywhere near the beach, always does really well.”

143 Hartlepool Road, Edmondson Park

• Sold under the hammer for $1.295 million

• Lead agent: Kareem Hussein - 0452 065 655

• Ray White Carnes Hill

• Six registered bidders, three active

• Auctioneer: Tim Snell, Ray White

“The buyer came to an auction with us previously and missed out. He’s landed the winning bid on this one and plans to rent it out for a year then move in with his partner,” Mr Hussein said.

“The sellers are moving home to India to have their children.

“The home is only 16 months old which is pretty new for the area. It’s also in a great location close to shops and the train station which was a drawcard for a lot of people.”

9 Sackville St, Bardwell Valley

• Sold under the hammer for $1.67 million

• Lead agent: Nicholas Economos - 0409 553 555

• Ray White Rockdale

• Eight registered bidders, five active

• Auctioneer: Alex Pattaro, Ray White

“The winning bid went to a couple downsizing. We also had a mix of first home buyers and people upsizing from apartments into their first actual house,” Mr Economos said.

“The sellers were a family who were upsizing locally.

“It was a solid double brick home with a good floor plan and massive bedrooms, near a park. It was in a really good spot close to shops and transports.”

11 Robinson St, North Wiley Park

• Sold under the hammer for $1.235 million - $35,000 over reserve

• Lead agent: John Yatman - 0423 344 868

• Ray White Punchbowl

• Seven registered bidders, three active

• Auctioneer: Alex Pattaro, Ray White

“The buyers were a young couple that had been looking for more than six months, so they were excited to secure this home today,” Mr Yatman said.

“We had mostly first home buyers and young couples interested, and one person looking to downsize.

“The sellers were a family who had outgrown the house and are upsizing in the western suburbs.”

MELBOURNE

Ray White Victoria chief auctioneer Jeremy Tyrrell said buyers were out in force despite the winter chill.

“Melbourne’s wild wintery weather didn’t dampen the spirits of buyers as property sales by auction cleared at a rate of 76.7 per cent for the week, a slight increase of 1.7 per cent against the same period last year,” Mr Tyrrell said.

“Not even a global cyber meltdown could stop buyers from engaging and buying at auction this weekend.

“With the school holidays now behind us, it's back to business as the volume of auctions climbed to over two hundred, with 208 scheduled across the state for the Ray White group and more than 230 booked in for the coming week.

“Whilst listing numbers are unseasonably high, sellers should take confidence in the high number of active buyers and overall weekly clearance rates.”

15 Elliott St, Cheltenham

• Sold under the hammer for $1.505 million

• Lead agent: Trevor Bowen - 0417 501 327

• Ray White Cheltenham

• Four bidders

• Auctioneer: Greg Brydon, Ray White

Mr Bowen said there was very competitive bidding.

“Bidding was going back and forth until the winning bid went to a lovely family from Hampton East who were upsizing,” he said.

“The wife used to live in a very similar home when she was growing up, so she was very excited to get this house.

“The sellers had lived there for 19 years as their family home and are selling as they are building a house in another suburb.”

25 Sanders Ave, Sunshine West

• Sold under the hammer for $731,000

• Lead agent/auctioneer: Marcus Fregonese - 0432 732 495

• Ray White Sunshine

• Three bidders

“The winning bid went to a young first home buyer (pictured above), the bidders were all first home buyers,” Mr Fregonese said.

“Buyers were attracted to the location by a cul-de-sac, and the fact it was in immaculate condition.

“It was perfect for first home buyers as it was move-in ready and structurally solid, it just needed a bit of updating.”

910/6 Railway Rd, Cheltenham

• Sold under the hammer for $760,000

• Lead agent/auctioneer: Kevin Chokshi - 0430 195 517

• Ray White Cheltenham

• Two bidders

Mr Chokshi said the winning bid went to a young first home buyer.

“It was a pretty unique property with water views and city views, at the highest point in Cheltenham. It had a real CBD feel,” he said.

“The seller’s bought it off-the-plan as investors about five years ago, and decided to sell as the costs of having an investment in Victoria have gone up significantly.

“The market has been pretty good, there’s not a lot of stock so it’s all moving pretty well. Last weekend we had a 100 per cent clearance, and we’re on track to have a 100 per cent clearance this week as well.”

55 Cortona Grange, Mernda

• Sold under the hammer for $824,000

• Lead agent: John Metaxas - 0412 840 040

• Four bidders

• Ray White Mernda

“The seller had lived in the home for 10 years and was downsizing and moving closer to her family,” Mr Metaxas said.

“The buyers were a couple of first home buyers who had previously been renting in Reservoir.

“The market has been good, we’re listing strong which is great. Sometimes you think there’s going to be a lot of buyers but there’s not always huge bidding.

“It’s price driven for us, if it’s priced right it’s selling well.”

BRISBANE

Ray White Queensland chief auctioneer Gavin Croft said it was a huge weekend of auctions for Ray White Queensland, with around 50 auctions scheduled today, plus another 112 going to auction at the Brisbane 100 tomorrow.

“The theme started to emerge last week where there’s certainly more stock coming to the Brisbane market, and with that supply and demand ratios are changing towards a more balanced scenario,” Mr Croft said.

“Over the course of the year, throughout Brisbane, the market has been very favourable to sellers, that’s starting to change.

“While the market is still very good for our sellers, there is more choice for buyers. Sellers will have to be cognizant of that slight variation in market activity.”

64 - 66 Kalinga Street, Clayfield

• Sold under the hammer for $2.35 million

• Lead agent: Vanessa Harte - 0422 426 373

• Ray White Ascot

• 17 registered bidders, six active

• Auctioneer: Phil Parker, Ray White

“The home was cute as a button,” Ms Harte said.

“It’s had the same owner for 93 years, the seller had lived there since she was three years old. She is now downsizing and her family are assisting with the sale.

“It was sold to a family who are going to renovate and live in it.

“We had a mix of owner occupiers and developers who wanted to split the block as it’s 810 sqm on two titles.

“Buyers were attracted to the proximity to the park, plus it was a cute Queenslander with potential to renovate or subdivide.”

30 Huet Street, Wavell Heights

• Sold under the hammer for $1.801 million

• Lead agent: Dwight Ferguson - 0412 385 720

• Ray White Metro North

• Four registered bidders, four active

Mr Ferguson said there was very active bidding, with 33 bids in total.

“The winning bid went to a young family who intended to occupy the home,” he said.

“All bidders were young families due to the location opposite park lands.

“The seller built the home 10 years ago to put in a trust for his daughter, and now she’s at the age where she’s about to buy her own apartment, so he’s decided to sell.”

9 Scullin Street, Mudgeeraba

• Sold under the hammer for $1.31 million

• Lead agent: Travis Miller

• Ray White Burleigh Group

• 36 registered bidders, 11 active

Mr Miller said the home was the worst house on the best street in a tightly held pocket of Mudgeeraba. It had been in the sellers’ family for 41 years.

“The house was literally falling down and had holes in the roof. It was ridden with termites so if you wanted to renovate you would have had to rebuild the whole frame, so better to knock it down and start again,” he said

“There’s been three sales in that street in 25 years, this was the fourth. So when they come up people jump on them. They’re acre blocks but only two minutes outside Robina.

“We had quite a few local builders who were wanting to build a home on the block for the lifestyle, and the winning bid went to a local couple who intend to knock it down and build their dream home.”

To learn more about the Brisbane property market, Ray White Queensland will be hosting the Brisbane 100 event tomorrow morning.

The inaugural ‘Voice of Queensland Property’ will see a panel interview of property commentators from across the sector to discuss the prospects for Brisbane in the lead up to the 2032 Olympics, as well as the Brisbane100 Auction Experience where 112 properties are set to go under the hammer.

The panel kicks off at Rivershed, Howard Smith Wharves, at 8:30am, while the auctions start at 10am. See order of sale here.

ADELAIDE

Ray White South Australia chief auctioneer John Morris said the driving rain and the howling winds had done little to deter buyers from auctions this week.

“We’ve had 100km gusts of wind and torrential rain, but still an average of eight registered bidders per auction, with four of those participating,” Mr Morris said.

“Last week the weather may have been kinder, but the clearance rate was lower, dipping below 70 per cent for the first time in many months. This week we up back up closer to 90 per cent.

“We’re up about 25 per cent on properties selling prior, meaning buyers are being aggressive with their offers. However, those agents who are taking their properties all the way through to auction are seeing an increase of 12 per cent on offers prior to auction once they put bidders in a competitive environment. Selling an average of four per cent above the reserve.”