With only three weeks before the end of the year, buyers across the country were eager to tick off the most important thing on their Christmas shopping list - a new home.
The Ray White Group recorded a 60 per cent clearance rate, while there were an average of 3.4 registered bidders and 2.3 active bidders attending an auction from the leading agency.
Meanwhile, today’s sellers were able to go into the new year feeling confident after netting an average of 11.8 per cent more on their under the hammer sale than if they had taken a prior offer.
The top auction sale of the day went to Ray White New Farm’s Tom Lyne who sold 11/166 Oxlade Dr, New Farm for $5.95 million at the office’s monthly Calile Hotel auction event in Brisbane.
Adelaide once again topped the registered bidder leaderboard with Ray White Semaphore’s Peter Kikianis and Sophia Pampena selling a deceased estate to a developer for $1.05 million with 21 bidders registered in the pouring rain.
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Ray White Victoria and Tasmania chief auctioneer Jeremy Tyrrell said the Melbourne property market was showing no signs of slowing down as auction volume ramped up with only fifteen days until Santa arrived.
“This week, the Ray White Victoria and Tasmania network had 263 auctions scheduled, the third highest week of auction volume this year,” Mr Tyrrell said.
“Despite the inclement weather, buyers remain active with nearly 70 per cent of properties selling either at auction, just after or prior to the auction itself.
“In the lead up to Christmas, there are auctions scheduled every day of the week until December 23, with midweek twilight auctions becoming increasingly popular.
“A highlight for the week was a Thursday twilight auction at 9 Cuthbert Drive, Hillside through Ray White Melton’s Martin Mintoff. It sold for a record street price of $916,000 with over a hundred people in attendance and 21 registered bidders.
“There’s still plenty of heat in the market.”
8 Hamer St, Brunswick East
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Sold for $3.95 million - $1 million above reserve
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11 registered bidders and two active bidders
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Agents: Jamil Allouche (0410 415 197) and Belinda Rabar
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Ray White Brunswick
“We had an opening bid of $3.2 million, which was well above the reserve,” Mr Allouche said.
“We had 140 groups go through the house in total, we had 18 second inspections and a handful of third and fourth inspections.
“All the interested buyers were families looking to upsize, nearly all were locals except for a couple from Queensland who flew down for the auction. The buyers were a young, local family looking to move into the home.
“The house was meticulously finished, it’s a class above the rest and that attracted a lot of attention.
“I think Christmas has affected buyer activity but in this instance, I don’t think it was attracting that sort of buyer. We knew from the beginning of the campaign that it would attract people not actively looking, but once they saw it they would make a decision around it and that’s what they did.
“Most of the buyers were contemplating a renovation and then saw this and thought they probably couldn’t renovate to the standard of this house and it would take them two years just to get it finished.”
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Boat Shed 1485 Harding Ave, Bonbeach
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Sold for $310,000 - the price guide was $295,000 to $320,000
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Two registered bidders
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Agents: Shane O’Sughrue (0401 119 911) and James Aldinger
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Ray White Chelsea
“The buyer was a local who lives very close to the beach box,” Mr O’Sughrue said (pictured above with the sellers).
“In COVID, beach boxes were going off because people in a 5km radius could get there but at the moment, you have to be a cash buyer and a local resident to buy - you have to be a rate payer in the city of Kingston.
“We only had one of the two active bidders participating but it sold for a huge record price for a bathing box in Bonbeach.
“Despite the fact that it was pouring down and not the best day at the beach, everyone wanted to come out and see the result.”
70 Clarendon St, Coburg
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Sold for $1.51 million - the price guide was $1.2 million to $1.3 million
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Six registered bidders and five active bidders
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Agents: Raphael Calik-Houston (0404 890 888) and Shelby Mihalj
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Ray White Coburg
“We mostly had young couples battling it out as it’s more of an entry level, couple home for Coburg. The auction went really well, the bidders fought for it really hard,” Mr Calik-Houston said.
“We’re seeing quite a lot of urgency from buyers wanting to buy before Christmas. They’ve been looking the whole year and missing out so they’ve created a bit of a mental deadline.
“There’s been a lot of heat in the market and from buyers as they wrap up their search in the hopes they don’t have to continue it into 2024.
“A young couple renting in Fitzroy were the buyers. They wanted to get something with a bit of a house and land a bit further north from them to start a family. It’s the best Christmas present for them.”
52 Mill Ave, Yarraville
“The auction guide was $995,000 to $1.08 million and the buyers (one half of the couple pictured above) were a young couple looking to move in,” Ms Royston said.
“It was a good campaign, we’ve sold a couple in the same street for this landlord and it’s the strongest result we’ve had.
“We had good numbers throughout the campaign because it’s a great opportunity for a young family to buy into the area. It’s really hard to find a double garage in Yarraville at this price point so that’s a big reason why we had so many bidders.
“The market is still a little unpredictable but again, good sized family homes, especially with a double garage, are always going to go well.”
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Ray White Queensland chief auctioneer Gavin Croft said there were 81 auctions for Ray White across the river city this Saturday showing there’s no drop off in choice late in the year.
“Our last few weeks have seen seven registered bidders per auction, as healthy an auction market as sellers can expect,” Mr Croft said.
“As we enter the Chrismas period those genuine buyers with a strong appetite to secure will be out in force today. Inflated seller expectations are perhaps the only issue to stop sales unfolding.
“With clearance rates hovering around 70 per cent over the last couple of weeks, early indications are this trend is likely to continue through to Christmas. A pleasing sign for those sellers set to sell at auction prior to the end of 2023.”
Ray White Collective auction event
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Ray White Collective principal and auctioneer Haesley Cush said the day’s in-room event was the strongest end to the year they’ve seen in auction sales ever.
“It was our last Calile in-room auction event of the year and the room was crammed, with over 200 people in attendance,” Mr Cush said.
“We had strong registered interest across all properties and we saw houses and units sell today ranging from $1.205 million for 14 Stafford St, East Brisbane, all the way up to our highest sale of the day which was 11/166 Oxlade Dr, New Farm through agent Tom Lyne for $5.95 million.
“Other standouts were 2A Glenvale St, Cornubia which sold for $1.298 million under the hammer. A Bulimba unit at 7/18 Riverbend Place going for $1.42 million, 39 Hardgrave Rd, West End selling for $1.3 million and 5/64 Macquarie St, St Lucia going for $1.445 million
“And this afternoon, Matt Lancashire sold 23 Sykes St, Ascot on-site for $3 million exactly with seven registered bidders. The auction opened at $2 million and roared to $2.8m with a slight pause then increased to $3 million and sold.
“We totalled just shy of $30 million today with roughly 40 registered bidders across all properties.”
132 Gordon St, Gordon Park
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Sold for $2.250 million - $50,000 above reserve
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Five registered bidders and two active bidders
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Lead agent: Holly Bowden (0431 922 110)
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Ray White Wilston
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Auctioneer: Phil Parker, Ray White (pictured above)
“Three of the groups were doctors including the winning buyers. The house is in between two hospitals, the Royal Brisbane and Women’s Hospital and The Prince Charles Hospital so the location was attractive, and the buyers had family nearby,” Ms Bowden said.
“They spent all year looking and are so excited that they don’t have to go to any more open homes. They wanted to be in the house for the new school year and were running out of time.
“Anyone that’s really shopping at the moment, they are just so hungry to find a home so they can look into the next year knowing they don’t have to worry about another open home.”
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Ray White New South Wales state auctioneer Perry Edmondson-Clark (pictured below) said 40 plus degree heat didn’t deter the serious buyers today.
"The Ray White Group in NSW and the ACT recorded 125 scheduled actions today," Mr Edmondson-Clark said.
"As Christmas approaches, both buyers and sellers are keen to transact and close out the year with a successful property transaction.
"Family homes or ones with renovation potential seemed to be the real winners today with multiple examples of registered bidders fighting it out tooth and nail."
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46 Crestwood Dr, Baulkham Hills (pictured below)
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Sold for $2.31 million
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11 registered bidders and four active bidders
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Agents: Anthony Dowd (0426 872 613) and Darren Dowd
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Ray White Baulkham Hills
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Auctioneer: Alex Pattaro, Ray White
“The buyer was a guy from Auburn with a young family and the underbidders were a couple from Artarmon,” Mr Anthony Dowd said.
“We had all families looking at this property. They loved the views, the alfresco at the rear and the swimming pool area.
“At the moment owner occupiers who are already selling to upsize or downsize are the most active in our market.”
6 Third Ave, Berala
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Sold for $1,723,500 - $82,500 above reserve
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Seven registered bidders and five active bidders
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Agent: Frank La Malfa (0401 316 877)
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Ray White La Malfa Group
“The auction was really good, we had a group of about 65 people and it started at $1.3 million and went from there. We had to do it indoors because of the heat,” Mr La Malfa said.
“The winning buyers (pictured above with the sellers and sales team) were a young couple living in Parramatta who had missed out on some other properties with my office in the past. We also had a few new buyers show interest so it was a real mix.
“It’s a small block of land and the house is about 20 years old but it’s really neatly presented and in a fairly good location. It just goes to show that a neat and tidy product still brings buyers.”
17 Marinea St, Arncliffe
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Sold for $1.34 million
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13 registered bidders five active bidders
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Agents: Nicholas Economos (0409 553 555) and Tarun Cross
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Ray White Rockdale
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Auctioneer: Alex Pattaro, Ray White
“We had about 80 groups go through the house during the whole campaign so it was quite strong throughout,” Mr Economos said.
“The auction started with a $900,000 bid and quickly went up from there. It had a lot of momentum and eventually came down to two final bidders who probably brought it up the last $60-$80,000.
“The purchaser is currently renting in Randwick. We had a lot of owner occupier buyers and not a whole lot of investors.
“It’s in a nice, quiet street with rear lane access and a three car garage/workshop. It’s original and has been in the same family for over 70 years so it’s a little fibro house but you can tell it’s been well loved and looked after.
“Seeing 13 people turn up for this auction was more than we thought so it does suggest that people are wanting to secure something before Christmas.”
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Ray White South Australia chief auctioneer John Morris said the rain continued to hammer down around South Australia today, but didn’t put a stop to the hammers raining down in the living rooms of the many homes being sold by auction in the great state.
“Every single one of the auctions I've called today has been held indoors, but it doesn't look like the atrocious weather is putting a dampener on the results of the 75 plus Ray White auctions scheduled for this week,” Mr Morris said.
“Last week, we had a 75 per cent clearance rate with five plus registered bidders and half of those participating.
“The preliminary results are suggesting a carbon copy of last week with three out of four auctions selling under the hammer so far, and with those 76 scheduled auctions, this does mean that yet again, Ray White is monopolizing the auction space in the festival state with close to 40 per cent auction market share.”
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70 Alexandra St, Prospect (pictured above)
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Sold for $1.374 million - $74,000 above reserve
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15 registered bidders and six active bidders
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Agents: Damien Fong (0403 257 665) and Brandon Pilgrim
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Ray White Norwood
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Auctioneer: George Kargiotis, Ray White
“The buyers were investors from the country, they’re looking at it as an Adelaide home base in the next few years but just doing the groundwork now,” Mr Fong said.
“We had a few investors, a few people wanting to cut the block in half and quite a few people looking to jazz it up and keep it as their family home.
“The size of the block was a draw and corner blocks are always ideal. It’s a character home over 100 years old with wonderful character features and really spacious rooms which is great.
“There’s also a really big extension on the back that provides a huge family area and it has a granny flat which is fully plumbed.
“Typically, we see in the second week of Christmas it starts to slow down but as you can see, we had 150 people on the street and it was pouring rain so it’s definitely not slowing it down.”
19 Murray St, Fulham Gardens
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Sold for $1.05 million
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21 registered bidders and nine active bidders
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Agents: Peter Kikianis (0417 834 648) and Sophia Pampena
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Ray White Semaphore
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Auctioneer: George Kargiotis, Ray White
“It was a deceased estate and had been in the family for the last 60 years. The house needed a lot of work and many of the owner occupying buyers were put off by this,” Mr Kikianis said.
“The buyer (pictured above with Mr Kikianis and Ms Pampena) was a developer and will be developing the site into two properties. I would say 90 per cent of the interest came from developers, and 10 per cent from owner occupiers.
“Through the whole campaign we had 24 groups go through, then today we had 21 registered bidders and a lot hadn’t seen the property which is pretty ironic.
“It was a good development site in a good area.”
23 Morawa Ave, Gilles Plains
“The rain couldn’t keep them away!” Mr McDevitt said.
“The purchasers (pictured above) had only seen the property today before the auction and are thrilled. They gained permanent residency on December 1 and bought their first home eight days later.”
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21 Canning Highway, South Perth
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Sold for $825,000
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Two registered bidders and one active bidder
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Agents: Jannine Blum (0403 058 167) and Vicki Rizo
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Ray White South Perth
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Auctioneer: Mark Whiteman, Ray White
“It’s a development site with a character home on it so we had a range of buyers looking at it, from investors to owner occupiers and developers,” Ms Blum said.
“The people who bought it are owner occupiers that are going to do renovation to the existing home and use it as a family home. They’ve been in the area for a long time and love the character of South Perth.”
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Download today’s photos and audio here.
Media contact Shannon Cook Ray White Group Senior media advisor media@raywhite.com 0437 593 050
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About Ray White
Ray White is a household name in Australasia, synonymous with the property and real estate industry. The White family owned and led property giant, established in 1902 in regional Australia, has 1,000 franchised offices across Australia and New Zealand. The group, with more than 11,000 members, sold more than 108,000 properties last financial year worth well in excess of $103 billion in sales value. The group’s scale and geographic presence across Australasia, and the fact it attracts the top performers in each market, is its advantage. Led by Dan White, the group spans residential, commercial and rural property as well as hotels, marine, property management and a leading property funds investment and advisory. The market leader called 31,000 auctions across Australasia last year. The group has trademarked the term 'competition creators’ as it firmly believes in the power of the open and transparent method of sale.
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