Those who sold under the hammer, on average, achieved just over 11 per cent more on their sale than if they had decided to take a prior offer.
The top sale today belonged in Brisbane where Ray White New Farm agent Annette Richards sold 39 Glenrosa Road, Red Hill for $3.53 million at the office’s monthly Calile Hotel auction event.
Marcus Cengarle of Ray White Norwood in Adelaide had the most bidders per auction today. His auction at 1-4/3 Birdwood Ave, Frewville attracted 18 registered bidders and sold for $2.06 million.
However, the top auction sale of the week happened on Thursday in Sydney. Ray White Upper North Shore director David Walker sold 397 Bobbin Head Rd, Turramurra (pictured above) for $11,025,000 to a young family from North Turramurra (pictured below).
The property had been held by the owners for the past 35 years.
There were eight registered bidders and three active bidders who began the bidding below the $10.5 million reserve at $8 million.
The bidding then soared past the reserve ending in an auction record for Turramurra and North Turramurra.
“Rare properties like this are highly contested and buyers are willing to pay good money for unique properties,” Mr Walker said.
“Properties like this are one of a kind and will always be popular in any market. The spring market is getting very busy for us and this was a highlight.”
Ray White New Farm | Bulimba Calile Hotel auction event
“Today was really exciting, we had eight lots sold out of the 16 auctions called,” Mr Cush said.
“The highlight was 39 Glenrosa Road, Red Hill, which was sold for the first time in 30 years, through agent Annette Richards. It was a wonderful exchange between bidders resulting in a $3.53 million sale. The buyers jumped out of their seats with hands in the air when they bought it.
“An art deco property at 6/38 Elystan Road, New Farm sold through Tom Lyne for $1.475 million to a regional Queensland buyer.
“We’re really seeing a new injection of enthusiasm in units with the sale of 1084/9 Edmonstone Street, South Brisbane for $695,000 through selling agent Simon Petrie. “Bidding for 51 Ellington Street, Tarragindi launched straight off the bat with great interest and sold it under the hammer for $1.28 million through marketing agents Brandon Wortley and Amanda MacDougall.
“Agent Meaghan Bakker sold a 10,000sqm property at 59 O’Brien Road, Pullenvale for $1.95 million and Scott Darwon and Harry Bennett sold 60/82 Welsby Street, New Farm for $820,000 – this was Harry’s first sale under the hammer.
“There was great negotiation and spirited bidding between all parties for 2310/30 Johnston Street, Bulimba, marketed by Emiliene Edwards, which went for $1.1 million.”
“It was the first time the property had been for sale in close to 70 years. It was purchased by a young couple with no kids, planning to use it as their principal place of residence. They were bidding over the phone as they were in Korea,” Mr Macmillan said.
“Nearly every buyer we had on it was a younger couple with either a small family or no kids. They were all looking at it as a principal place of residence.
“We had good interest because it’s entry level buying but also a good, liveable house with no work required to it immediately. The strong bidding today shows how in demand these types of properties are.”
Ray White New South Wales chief auctioneer Alex Pattaro said there were plenty of buyers out today looking to secure a home.
“The buyer sentiment is better than what it was months ago as buyers are now aware of what to expect with interest rates,” Mr Pattaro said.
“Top tier, new and luxury homes continue to be the top choice for buyers.
“Auction and stock levels are down compared to last year but we anticipate these numbers will rise over the coming weeks into the back end of 2022, potentially spurring a late spring selling rush.”
“The buyers were a young couple (pictured above right) who don’t live locally. They’ve been looking everywhere from Hornsby to the Sutherland Shire and settled on here because of the proximity to a good local school and access to the train station,” Mr Sacilotto said.
“It was a family home for 27 years but the owner (pictured above right with the buying couple) is downsizing and moving closer to her grandchildren down the coast.
“It was more attractive because it’s just an entry level home for Mortdale. I had mostly young couples and families showing interest because it was at an attractive price point that rarely becomes available in the area.”
Ray White Victoria chief auctioneer Matthew Condon said this week has seen a decline in auction volume across the state with 120 auctions scheduled for Ray White Victoria.
“Although we are seeing a slight increase in the days on market for residential property, it is very clear that there are fewer properties launching to market this spring than expected,” Mr Condon said.
“This is creating a very high level of demand for quality properties that are currently launching to market.
“Based on preliminary data from the Ray White group, today, we saw on average 3.6 confirmed bidders per auction. We also experienced active bidding on over 90 per cent of all auctions.
“Despite the patchy weather, large crowds also gathered at today’s auctions creating an exciting auction day atmosphere.
“It was also great to see that once properties were announced “on the market” we continued to see momentum and competition past that point.”
“The buyers were a young couple with one child looking for a bigger family home and wanting to move into the Mount Waverley Secondary College catchment,” Mr Matthews said.
“The sellers were a mid-aged couple whose kids had all left and are now downsizing to Carnegie, so this was their much loved family home of many years.
“The north-facing backyard and the reserve behind it makes it feel like you aren’t living in the suburbs, which made it popular with buyers. And to add to that the swimming pool for warmer weather, some good renovations and adjustments done along the way, and the location were also all well received.”
4 Regal Ave, Doncaster East (pictured above)
“The buyer was a builder investor. The property was targeted at investors who would want to use the included permit and plans (Stamped Plans and Planning Permit for two 34sqm, double storey, side-by-side townhouses) or to rebuild a family home,” Mr Lai said.
“The house is positioned in really good school zones which is on everyone’s wish list.
“We mainly had investors coming through, while 20 per cent were looking at it from a family perspective to either renovate and live or rebuild a family home.”
Ray White South Australia chief auctioneer John Morris said that Ray White sails best in light winds but it also seems that the group weathers the storms pretty well.
“If the last few weeks are anything to go by, the momentum certainly doesn’t seem to have dropped out of the sails of the auction market in Adelaide and South Australia.
“The clearance rate last week was reported by CoreLogic at 65 per cent yet Ray White Adelaide reported a 78 per cent clearance last week, we also called a third of all auctions throughout the state.
“That shows that if you list by auction with Ray White, your chances of selling on auction day or throughout the campaign increase by 30 per cent.”
“One bidder turned up late, about five minutes into the auction and he ended up being the eventual buyer. He wants to develop the block down the track,” Mr Fisher said.
“It was the sellers’ parents property and had been in the family for 64 years so it was an emotional sale for them.
“The location on Sixth Avenue with the reserve next door was a big drawcard. It’s also a big block, there hasn’t been a block of this size in the suburb selling for a while so that made it popular.
“Many of the bidders were a family, most of them wanted to knock the house down and build their dream home.”
“We had a young boy in the crowd named Charlie (pictured above) who was obsessed with auctions and real estate after I sold his parents house a couple of months ago. He wants to be an auctioneer when he is older and I let him put down the hammer with me,” Mr Morris said.
The winning bidders (pictured above) were a couple who sold their property last week through Ray White Norwood’s Stefan Siciliano.
“They are a lovely couple who are downsizing. They’ve been together since they were 16-years-old and are now in their 80’s,” Mr Chan said.
“We had 90 groups go through the property during the campaign. There was a mixed bag with some couples, first home buyers and investors.
“The house was only built in 2015, it’s within walking distance of a good local school and has a good layout so it was popular.”
23 Buntine Road, Wembley Downs (pictured above)
“The buyers were a couple who live in the suburb next door who are planning to subdivide the property. They are going to build one home for one of their children who is getting married next year,” Mr Kasten said.
“It was a long held home with many happy memories attached for the family selling the property. It was a bittersweet auction but they are happy the buyer is going to make a new family home there.
“The location opposite a park and really close to one of the premier senior private schools in Perth, and the city views all had an impact in terms of why this property was so special and why we had such strong active bidding that exceeded the reserve.”
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