25 Jul 2020
Ray White's Sydney agents almost cleared 80 per cent of their auction stock today, while the online auctions in Melbourne recorded a healthy 64.7 per cent clearance too. Elsewhere, Brisbane agents booked a solid 64.3 per cent clearance while Adelaide members had a day in the sun with 77.8 per cent preliminary clearance.
Ray White NSW Chief Auctioneer Alex Pattaro said there was absolutely no sign of the Sydney market slowing down.
“Despite all the talk, competition at auction continues to defy all speculation. Our average crowd attendance was circa 40+ today which shows buyers are out and about.”
The top sale, and possibly one of the most interesting stories ever, played out in the lower north shore suburb of Henley today.
The auction opened strongly at $1.9 million, and moved up in $100,000 increments in what would only be described as a spirited auction.”
Mr Mazar said there were a whopping 18 registered bidders for the large family home which had never been lived in. Ever!
“My vendor is in a nursing home in Mudgee and his mother won the house in a Catholic Church Lottery with a ticket that cost two shillings in 1967, some 53 years ago,” he said.
“My vendor is 88 and his mother won it. It's all original, even the oven is basically new and has never been used.
“It's like a time capsule. This house is very rare, it's one in a million. Feedback during the campaign was up to $2.5 million, so it's an incredible result to get over $2.9 million.
“I am very proud.”
Mr Mazar took more than 70 groups through and the winning bidder are locals.
“It's been a terrific campaign with more than 70 groups through the house during the campaign. We had at least 40 people watching in the crowd with the buyers from Surry Hills, Pyrmont, Merrylands and Kellyville,” Ms Perry said.
“The new buyers are a family who are living in a unit in Pyrmont right now and they are looking for some room to move.”
“People love this area as it's a such a tight knit community and prices are holding up very strong in this district.”
Sellers Melissa and Tom Nichols, both school teachers, are rapturous to have cracked the $1 million mark.
The family, who are expecting their third child, were full of praise for their agents Sara Perry and Karl Anthony.
“We listened to all their advice. Lots of people tried to tell us not to sell now but to wait for spring, but why would you wait? My question to others who are selling on the fence, is what are you waiting for? We have bought land to build on and we actually have a delayed settlement there and we could have waited til spring,” Ms Nichols said.
“But there will probably be a huge influx of homes for sale in spring so you'll be competing against all of them.
“No-one has a crystal ball, there could be a second wave coming or prices may fall, no-one knows but right now it's good.
“We had a beautiful clear winter's day today with lots of beautiful weather during the campaign. My mum passed away from pancreatic cancer earlier this year and I believe she was here today and helped us to achieve such a great result to help us for our next build. My mum was definitely looking down on us today.
“We built our house 10 years ago and had never sold before, so we took Sara and Karl's advice and painted the house and we spent money on marketing.
“We hired a stylist which transformed our house plus we did a video too. I was initially hesitant but it obviously worked.”
Elsewhere, Ray White Unlimited principal Ron Bauer sold the fabulous semi at 20 Gould St, North Bondi for $2.36 million in front of 20 people at the early morning onsite auction.
There were four registered bidders but only two dueled it out in the auction itself.
“The feature packed family home was loaded with original character, with potential for future growth,” Mr Bauer said.
“It was a good campaign with 65 to 70 parties through and the buyer was very determined to win after he had been the under-bidder on two other auctions of ours this week.
“He'd missed out on two other semis this week but won the third one!
“Our vendors are happy too as they are moving to Maroubra and this paves the way for them, so it's perfect.”
“So many people came out to watch. There was around 70 people in the crowd and lots of would-be sellers coming to see what the market is doing now,” said Mr Lazar, pictured above with his sellers.
“They are over the room as they can retire at their house they have built on the South Coast.”
The buyers used an agent who bid on their behalf, and they will now move their growing family from Leichhardt in the inner west for more space.
“It is great to be able to report that Victoria's real estate market is continuing to exceed expectations. We have seen one of our strongest weeks for 2020, in terms of average number of active bidders per auction,” Mr Condon said.
“It is a privilege to be able to provide exceptional results for our clients, while operating 100 per cent online.”
In the middle of the lockdown in Melbourne, Ray White Oakleigh have managed to achieve a 100 per cent clearance rate with their auctions this week, selling nine from nine under the hammer this week alone.
“We are not backing down from auctions, in fact we are going for more than ever before. The online auction process is working so seamlessly. We are running between five to 10 every single week,” said Chris Kelepouris, CEO and Founder of Ray White Oakleigh | Clayton.
“I think our key to success is that we practise consistency; we know what works and we nail the basics. We put a lot of emphasis on getting the process right; we are adapting but not straying away from the processes we have always used.
“Through this tough time, the team's attitudes have been amazing – the team has been really wonderful in helping each other stay pepped up, and getting each other through a stressful period. Teamwork and process is the winning combination for our office.”
The standout auction from Victoria today came from Ray White Oakleigh Agents George Midas and Leigh Kelepouris, who sold 14 Terrigal Avenue Oakleigh South for an enormous $305,000 over reserve at $1.24 million. The auction saw more than 100 bids lobbed from the 11 registered bidders.
“This success for our vendor today is a result of every single agent in our office taking a buyer through this home; there was at least one buyer every day inspecting it and resulting in over 68 inspections,” Mr Midas said.
“The offers we had prior to auction were all around the $820,000-$850,000 mark, so you can imagine how thrilled our vendors are that we chose the auction method and achieved over $1.2 million.”
The beautifully maintained home was built in 1969 and had never been sold before. It is an original home with no updates but it was built well ahead of its time and with extreme care and love.
“When we first met with the brother and sister vendors, who grew up in this house, they showed us architecture plans of the property framed and put at the entry of the home; all the buyers loved that! The italian owners took better care of the house than most people do their kids!” Mr Midas laughed.
In the end, the buyers were a young family wanting to get into the area, and who were referred from another agent in the Oakleigh office.
“A crowd gathered outside our office because they couldn't believe how much the property sold for. The buzz from our auction room today was palpable.”
In another huge sale from Ray White Oakleigh today, Agents Jonathon Eaves and Tom Carroll saw their listing at 47 Moorookyle Avenue, Hughesdale go under the hammer for $1.56m, a huge $160,000 over reserve.
“We had two strong bidders, which is all you need to achieve a fantastic result. Because we met both of these buyers in week one, it was a hard task to keep them interested for four weeks, but we are very glad we pushed through to auction day.”
“We have competitors who have been switching to private sales during this further lockdown in Melbourne, but we have faith in the auction process.”
Mr Eaves said that the home was a very solid family space, with separate entrance to the house for a home office / study area.
“Buyers are paying more for that extra office space in the home, with the trend towards working from home now. There is also an opportunity to convert the self contained office space into an AirBnb type space, for those wanting extra cash during a harder economic period.”
Elsewhere, Ray White Carnegie saw a day of success under the hammer, with two properties selling both for way over reserve. Principal Josh Hommelhoff sold 5/86 Truganini Road in Carnegie for $870,000, $20,0000 over reserve.
The team were able to have one week of open homes before Melbourne went back into lockdown, and then proceeded with private inspections taking a total of 53 groups through.
“There is plenty of competition out there; if your mindset as a buyer is that you are ready to purchase, then nothing will get in your way.”
“Money is the cheapest it has ever been, and the stock is limited, so if people miss out on bidding then they have to accept potentially another three to six months wait to bid again on their dream home.”
The three bedroom two bathroom unit was sold to an investor who has returned from living overseas due to COVID, and will rent it out when he is able to return to his life overseas.
The Carnegie team's second sale and the biggest auction sale of the day for Victoria, was at 3 Wicklow Street Ormond, which went for a huge $1,650,000. The property was marketed by Director Matt Hurlston and Sales Consultant Dane Costello.
“The vendor is over the moon with the result today; Mrs Scott, is now living in a retirement village after living in this home for 30 years, so it is a very special home to now pass onto another family,” Mr Hurlston said.
The buyers were a young family with four children, getting themselves into the area for the well-known good public schools around Ormond.
“We are getting great engagement with the auction process, even though it's moved to online, it is still an appealing time for buyers with very low interest rates, and an appealing time for sellers with limited supply of stock,” Mr Hurlston said.
“Regardless of the property price range, whether it is a $400,000 home or a $1.5m home, we are still getting copious amounts of buyers coming through the doors.”
In the Ray White Clayton office, Michael Renzella and Robert Cincotta sold 2/24 Golf LInks Avenue in Oakleigh for $730,000, a huge $150,000 over the reserve price.
“We had a whopping 23 registered bidders today, and throughout the campaign had interest from a huge mix of people; first home buyers, downsizers, investors,” Mr Renzella said.
The winning bidders in the end, were a downsizing couple from Sunshine and were looking for about four months before finding the perfect apartment to move close to their daughter.
“The vendors were crying – we had a tv set up for them to watch the online auction take place. They were really thrilled and overwhelmed with emotion at the result. I am looking forward to helping them find their next home for their next chapter.”
Just up the road, on the very same street, Ray White Clayton Agents' Peter Lui and Eddie Wang sold 2/50 Golf Links Avenue for $1,001,000, pushing over $50,000 past the reserve price.
Ray White Queensland Chief Auctioneer Mitchell Peereboom said all the auction metrics were up strongly again this week.
“The clearance rate is over 60 per cent and average registered bidders is over four which is so strong,” he said.
“Just three, six or 12 months ago, these metrics were lower so you'd have to describe this as a strong market. Buyers are getting involved and want to buy property at all price points and our sellers are seeing the social proof knowing they've taken every last dollar out of the market.
“Now is a favourable time to sell. What are you waiting for? We know the market is ready,” Mr Peereboom said.
There were three active bidders on-site, and one on the phone, with auctioneer Phil Parker holding the auction under the deck to shelter from the pouring rain in Brisbane today.
“All the bidders were local families from nearby and my vendors are 'over the moon'. My vendors are over as they have just moved back from Chile in South America before they relocate to Melbourne,” Ms Hall said.
Some 30 people braved the rain to watch the auction.
Seller Lucy Martin and her geologist husband Mawson have just moved back from Chile.
“My husband is still in hotel quarantine in Sydney and I'm in Melbourne with our seven year old son,” said Ms Martin, who works for a global mining and construction company.
“Jessie has been just terrific during the sales campaign. We had nine years in Brisbane before I was transferred to Chile with my work and we decided it was time to move home when COVID-19 hit. Things are just managed better here,” she said.
“So we have left a serious lockdown in Chile to move to Melbourne, in the middle of another serious lockdown!”
All in all, Ms Martin said they were delighted with the auction outcome.
“We were thinking of waiting to sell, but really what's the point? The market may improve or it may not, so right now is a good time to sell,” Ms Martin said.
“I would highly recommend Alistair and Jessie. I had never been involved with an auction campaign before but we trusted them and we are happy we received a premium outcome as they had such a lot of people through the house.
Still in Brisbane, Ray White New Farm Principal Matt Lancashire just sold 50 Kingsholme Street, New Farm for $2,756,500 after a spirited auction with nine registered bidders.
“There were six of the nine bidders very active in the auction which opened at $2 million and moved in a very fast and orderly way with no pauses all the way up to sell under the hammer,” Mr Lancashire said.
“Most of the bidders were locals from Brisbane with some interstate buyers. It's a great sign of the market and the winning family is from Kedron with young children who want to move to the area for the cafe culture and lifestyle benefits,” Mr Lancashire said.
“My sellers are thrilled with the result. This is the second time I have sold for them and now they are moving interstate but they have always loved the location and the house. It's the king of the hill!”
Mr Lancashire said the market was strong. “I am having the time of my life right now with good saleable stock and the high end is moving. We had a good sale, over $7 million during the week, on the back of our best financial year ever. Our New Farm office alone was up $109 million up for the financial year on the prior year.”
“The year 2020-21 has started strong, we're going gangbusters, and I can see positive signs for the run into Christmas.”
Over in the city's inner north, Ray White Ascot Agent Oliver J. Jonker sold a beautiful Queenslander cottage 7 Harding Street Hendra for $885,000 after a hugely successful campaign.
“I have never had that many people through a property in my entire career; 80 inspections in three weeks,” Mr Jonker said.
“When a property is well-marketed, then you will get solid enquiry. We ran an extensive marketing campaign on the portals and in The Courier Mail, which eventually resulted in a fantastic result for our vendor today.”
“We are starting to see stock levels lifting back up; there was 12 weeks of very limited stock but we are starting to see people gaining more confidence.”
For the buyer, Paula and her family, today's result still hasn't quite sunk in.
“We didn't think we would buy it, but Oliver was so convincing last weekend when we came to look at the property. We were looking for a house to knock down and build new, and we were looking around the Ascot area. When we saw this house, we just loved the character of it and had our minds opened to renovating instead,” Paula said.
“We are planning to lift and renovate and home, while restoring its beautiful character; bedrooms upstairs and then open plan living downstairs.”
“We said to Oliver last night that we probably wouldn't bid today, but here we are with our new home! We are thrilled.”
7 Harding Street Hendra
Ray White South Australia Chief Auctioneer John Morris said it was sunny skies across Adelaide today, ensuring that the bidders were out in force today, and the state was awash with a sea of yellow.
“We had the highest number of auctions we've had this year, this weekend. Ray White held 47.5% of auctions across the state, with our nearest competitor not quite getting to 15 per cent,” Mr Morris said.
“All of the auctions I called today sold, with an average of 6 registered bidders per auction. Long may this continue.”
Ray White Brighton agents Matthew Martin and Susan Martin successfully sold 43 Myrtle Road, Seacliff for a huge $1,325,000. The property saw 105 groups throughout the campaign.
“We had a great marketing campaign that drew a huge amount of interest in this home; we found particularly strong interest from our Ray White Be Seen Facebooking marketing campaign, with an impressive property video.”
“The standout characteristics of this property is definitely the huge 1096sqm corner block, and the fact that it is an original 1925 bungalow. You don't come across them every day.”
In another million dollar sale for the southern state, Ray White Unley Agents Robbie Smith and Josh Gillespie sold 53 Archer Street North Adelaide for $1,020,000.
The beautiful terrace home in the tightly-held pocket of North Adelaide attracted a lot of interested throughout the campaign, with 70 groups coming through the property.
“We are getting smashed by buyers at the moment. We had an open today with 70 groups, and another one with 50 groups; and these are fairly priced properties. Everything is getting sold,” Mr Smith said.
“The vendors are really happy with the result today, and we are really happy for the winning bidder who is going to renovate it slightly and live in it as her dream home.”