Auctions soaring with Olympic spirit

Ray White New South Wales and Australian Capital Territory CEO Tim Snell said that as the final month of winter began, the sun was shining in the Sydney housing market.

“The market is showing early signs of increasing stock volumes as sellers look to maximise their value, ahead of the Spring listing surge.”

“Buyer activity has managed to keep pace, providing a balanced marketplace. Recent inflation data is causing some caution for punters, but the temptation to break into the house market before the inevitable rate drops, is providing enough urgency to create competition,” Mr Snell said.

14 Munro Street, Baulkham Hills

• Sold under the hammer for $1,925,000

• 11 registered bidders, five active

• Lead agent: Daniel Llamas - 0421 908 736

• Ray White Castle Hill

• Auctioneer: James Kerley, Ray White

Mr Llamas said the winning bidders of this single story were a young family upsizing from a townhouse locally.

“The seller built the house in 1968 and is moving on to a retirement village. All of the neighbours in the street showed up to show their support,” he said.

“The market is still very strong, with good properties attracting a lot of attention. There are a lot of buyers looking, particularly for this type of stock which is very low in supply.”

49 Downing Street, Epping

• Sold under the hammer for $2,535,000

• Eight registered bidders, six active

• Lead agent: Tian Hong - 0451 977 781

• Ray White Epping

• Auctioneer: Tim Snell, Ray White

The bidding for this large family home opened at $1.8 million, with Tian Hong saying the auction was thrilling.

“The winning bidder is a local family, who bought a home from me seven years ago and decided to make a change. The seller has recently bought a house to upgrade to.”

“The market is performing well in Epping and this result today is a sign of that,” she finished.

10 Crown Terrace, Bella Vista

• Sold under the hammer for $3,118,000

• Eight registered bidders, six active

• Lead agent: Peter Iann - 0488 002 222

• Ray White Castle Hill

• Auctioneer: James Kerley, Ray White

Peter Iann said that the house was presented beautifully, and was in a quiet cul-de-sac but the outstanding result was due to competitive bidding.

“A young family were the winning bidders, coming from Baulkham Hills. The sellers have bought a townhouse to downsize into in Bella Vista,” Mr Iann said.

Ray White Victoria and Tasmania chief auctioneer Jeremy Tyrrell said the Melbourne market is fired up with big results, high clearance rates and strong buyer competition this week

“On Wednesday night, Ray White Melton held their in-room auction event and sold 13 from 14 auctions, with a two-bedroom unit reserved at $270,000 selling for $390,000. Crowd attendance was high and the atmosphere was electric.

“The sub six hundred thousand dollar market is highly active, with many first home buyers taking advantage of favourable conditions,” he said.

This week Victoria's largest real estate group had 237 auctions scheduled, the highest volume in the last five weeks and it doesn't look like slowing down.

“Whilst a few nervous eyes will be closely watching the central bank’s cash rate announcement next week, many buyers were focused on the prize with clearance rates already pushing north of eighty percent at 81.8 per cent so far for the week. With spring around the corner, the outlook for real estate is very positive,” Mr Tyrrell said.

40 Hartley Crescent, Greenvale

• Sold under the hammer for $1,331,500

• Six bidders

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

• Ray White Gladstone Park

Mr Mercieca said the opening bid was $930,000 and the home was called on the market at $1,150,000.

“The winning bidders were a young local family, with the three kids pushing mum and dad to keep bidding!” he said.

Most bidders were local families with young or older children, and bidding between the six parties was fierce.

“The sellers purchased the home 12 years ago, enjoyed it with their family and moved interstate due to work. They were absolutely thrilled with the result. This result just shows the auction market is alive and well. With over 130 inspections on this home, demand is definitely outstripping supply. There are buyers willing and ready to pay good money for good quality properties,” he said.

2 Rob Roy Street, Glen Waverley

• Sold under the hammer for $1,605,000 (reserve was $1,500,000)

• Five bidders

• Lead agent: Nicholas Richards - 0401 610 003

• Ray White Glen Waverley

Mr Richards said that bidding for this ‘rebuild or revive’ deceased estate sale started slowly but once it was announced on the market, it heated up.

“The winning bidder is going to knock down and rebuild the home; the location is prime within the local school zones,” he said.

“Properties that are priced correctly are selling very well, and bidders are showing some caution until the activity ramps up. The pricing has to be right from the get-go in order to gain traction.”

Ray White Queensland chief auctioneer Gavin Croft said the Brisbane auction show had continued into the weekend.

Mr Croft started the day with auctioning 325 Jackson Road, Sunnybank Hills which sold under the hammer for $1.351 million, with 11 registered bidders pushing it above its reserve price of $1.1 million.

“The quality of the day only continued, whether it was townhouses, apartments or large family homes. Average registered bidders are sitting between five and six, and active bidders between three and four.

“The consistency in the auction market in Brisbane is very much on display, with volumes now continuing to rise,” Mr Croft said.

33 Sixth Avenue, Windsor

• Sold under the hammer for $4,100,000

• Five registered bidders, three active

• Lead agent: Alistair Macmillan - 0410 636 221

• Ray White Wilston

• Auctioneer: Christian Hamilton, Ray White

Mr Macmillan said the bidding for this grand family home was electric, opening at $3.4 million and jumping in $100,000 bids.

“The auction was paused for 10 minutes and a buyer increased to $4.075 million and it was called on the market,” he said.

“The final two bidders were local families, looking to upgrade to a larger family home, with both families having been underbidders on another auction in Gordon Park last week.”

The sellers had lived in the home for 14 years and absolutely loved the house, and have just finished renovating another property which they will move into.

“The market is incredible at the moment. We have been setting records in Grange, Gordon Park, Wilston in recent weeks,” Mr Macmillan said.

4/55 Bulimba Street, Bulimba

• Sold under the hammer for $705,000

• 14 registered bidders, six active

• Lead agent: Keenan Smith - 0419 172 653

• Ray White Bulimba

• Auctioneer: Haesley Cush, Ray White

“This is an outstanding result for a two-bedroom unit and the crowd was spilling out onto the street” Mr Smith said.

The majority of bidders were first home buyers or downsizers due to the accessibility, with the final winning bidders a pair of first-home-buyer brothers.

“We can’t keep up with the demand for this kind of product, especially first home buyers with the current stamp duty concessions,” he said.

53 Kuring Gai Avenue, Tarragindi

• Sold under the hammer for $1,530,000

• 22 registered bidders, six active

• Lead agent: Andrew Boman - 0405 400 152

• Ray White Mt Gravatt

• Auctioneer: Grant Boman, Ray White

Mr Boman said the winning bidder was a Sydney-based developer who planned to rent out the property initially.

“This was a deceased estate sale, and the home had never before been sold. The result was an emotional one for the family,” he said.

“Anything that is in a blue-chip suburb, six kilometres from the city, on a large and flat parcel of land is always going to perform well.”

“The market in our area is strong; our office has done around 30 auctions in the month of July and has cleared approximately 85 per cent,” he said.

32 Redford Crescent, McDowall

• Sold under the hammer for $1,800,000

• 13 registered bidders, four active

• Lead agent: Karla Lynch - 0447 384 908

• Ray White New Farm

• Auctioneer: Haesley Cush, Ray White

This family home broke an existing suburb record in McDowall today, after being called onto the market at $1.67 million and selling for $1.8 million.

“The winning bidders were a local family who saw it and fell in love with it, with a family on Sydney missing out as the underbidders,” Ms Lynch said.

The sellers were a local family who are moving within the suburb.

“The market is going absolutely wild at the moment; It is an amazing market in these northern suburbs of Brisbane.”

“This is not known as an auction area but this just shows how effective the method is.

“McDowall has been flying under the radar. It is a real family-centric area, with great school catchments and more space. People want to find something that is ready; something they could add value to down the track, but without the rush,” Ms Lynch said.

2/21 Little Barron St, Gordon Park

• Sold under the hammer for $1,785,000

• Nine registered bidders, six active

• Lead agent: Holly Bowden - 0431 922 110

• Ray White Wilston

• Auctioneer: Christian Hamilton, Ray White

This sale broke the townhome record for Gordon Park, with Holly Bowden saying it drew in a wide variety of buyer groups from young professionals, to downsizers and families.

“The vendor developed a block of four and kept this one for himself. He only lived there for 18 months and put some beautiful extras into his. The other three sold for less than $1.4 million a couple of years ago,” she said.

“The stunning, luxury features plus its location right on the Kedron Brook were a real draw card, but the fourth bedroom on the ground floor was a game changer.”

It was sold to a family with teenage children who wanted a lock and leave lifestyle, with a spectacular outlook.

Ray White South Australia chief auctioneer John Morris said the results for South Australia were nothing short of extraordinary. “July 2024 was the third strongest month on record for scheduled auctions, sitting only behind July 2022 and June 2024. This proves that there is no need to wait for spring or warmer weather to sell your home and utilise the auction method,” he said.

“We consistently hold a 45 per cent share of auctions around Adelaide at Ray White.

“Last week we saw an average of 7.8 registered bidders per auction, resulting in 87.2 per cent of auctions selling under the hammer.

“Our agents get homes ready to buy, and if you need social proof of this, just head along to one of the 71 scheduled auctions that we have coming up in the next week.”

10A Leonore Avenue, Kensington Gardens

• Sold under the hammer for $2,120,000

• Five registered bidders, three active

• Lead agent: Andrew Baldino - 0422 664 415

• Ray White Campbelltown

Mr Baldino said the winning bidder was going to be living there with his family, and his in-laws from China.

“The floorplan layout made it great to culminate a dual-living situation. We saw mainly families who are upsizing, and a few investors,” he said.

The sellers have recently built another home closer to the schools for the children.

“The market is solid, and we are finding that auctions aren’t going off like they were 12 months ago, with bidders a little more cautious. Quality properties are achieving great results,” he said.

32 Carlisle Street, Camden Park

• Sold under the hammer for $1,232,000 (reserve was $1,100,000)

• 13 registered bidders, five active

• Lead agent: Samuel Paton - 0401 757 819

• Ray White Glenelg

• Auctioneer: Rod Smitheram, Ray White

Mr Paton said the winning bidder was a local couple who were in the market for their next investment property.

“Out of the 13 bidders, there were three families and the rest were investors and developers. The huge land was a big drawcard, with an existing home that needs some work in the future.

“Prices are still really strong and as you can see with 13 registered bidders, there is still demand for a property like this. I would recommend for potential sellers to come sooner rather than later,” Mr Paton said.

17 Buckingham Avenue, Fulham Gardens

• Sold under the hammer for $1,382,000 (reserve was $1,050,000)

• 19 registered bidders, six active

• Lead agent: Mark Bowden - 0408 441 126

• Ray White Henley Beach

• Auctioneer: Sam Grover, Ray White

Mr Bowden said the eventual winner of the exciting auction was a local investor.

“It had been in the same family for a long time, with the owner moving into care. Everyone was absolutely thrilled with the result,” he said.

“The market is fantastic at the moment, particularly around this area. 866 sqm is larger than the average in this area, which drew in a huge number of bidders.”

Ray White Western Australian CEO Mark Whiteman said that the Western Australian market is continuing its strong trajectory with strong interest across all markets, driven by a lack of supply of properties for sale and strong demand from buyers.

“Multiple registered bidders created competition today resulting in sales above all expectations. It was furthered by great work from our agents, ensuring we achieved the best possible price for our sellers” Mr Whiteman said.

“We saw today more evidence of what thorough marketing and competition creation can achieve. This is why sellers should be looking to auction in today’s Western Australian market.”

45 View Terrace, East Fremantle

• Sold under the hammer for $5,337,000 (reserve was $5,150,000)

• Four registered bidders

• Lead agent: Vivien Yap - 0433 258 818

• Ray White Dalkeith | Claremont

• Auctioneer: Mark Whiteman, Ray White

“The under bidder was a gentleman who had put an offer in prior, and mid-way through the auction, another buyer registered at the last minute and ended up winning,” Ms Yap said.

“The starting bid was $4.5 million and we were working with $1,000 increments at the end. This is a phenomenal result, and we can put it down to inviting everyone to come along to the auction,” she finished.

58 Gallop Road, Dalkeith

• Sold under the hammer for $2,832,000 (reserve was $2,500,000)

• Seven registered bidders

• Lead agent: Vivien Yap - 0433 258 818

• Ray White Dalkeith | Claremont

• Auctioneer: Mark Whiteman, Ray White

Vivien Yap said that Gallop Road experienced intense and quick bidding with 34 bids.

“One bidder was raising their bids in $8,888 increments and the next bidder was raising in $6,666 increments. Mark (Whiteman) the auctioneer had his work cut out for him!”