Buyers out in force as properties sell strongly at auction or before they are due to go under the hammer, according to agents Chris Wilkins from Ray White and James Baker of McGrath Estate Agents.
While the number of auctions are still way before the levels they were pre-Coronavirus, for those who did sell their property through Ray White over the past week, there were some good results.
Ray White has recorded a preliminary clearance rate of 85.3 per cent in Sydney, and 66 per cent in Victoria with five registered bidders on average across every lot nationally.
Ray White Group Managing Director Dan White said the results built on the momentum of the past few months.
“It was another week of consistent and very strong buyer activity, coupled with increased auction numbers,” said Mr White.
“Congratulations to all our vendors who took advantage of these conditions and chose to market and sell their properties now."
The top sale over the weekend for Ray White was in the Sydney suburb of Drummoyne where Ray White Drummoyne agent Chris Wilkins sold 33 Crometrowe St for $3.5 million.
"The sellers are so ecstatic as they have lived there for 18 years," said Mr Wilkins.
33 Cometrow Street, Drummoyne sold by Ray White agent Chris Wilkins for $3.5 million. Photo: Ray White
"We had issued 16 contracts and had 117 groups of serious buyers though during the campaign.
"On the first weekend of its campaign I had 42 groups through.
"I had a bouncer at the front door, clicking people in and out like a nightclub to adhere to social distancing.
"The market is very active, and these are real results.
Mr Wilkins said the auction kicked off at $3 million and quickly moved up in $50,000s and then $25,000s.
The buyer is a Drummoyne family who have been living out of the area but are happy to move back.
Over on the Sydney beaches McGrath Estate Agents were selling even before properties were going to auction.
Moon Lodge at 53 Hudson Parade, Avalon Beach, a five bedroom, three bathroom and four car property, sold before its 13 June auction at a price “considerably more than its guide of $3.1 million”.
53 Hudson Parade, Avalon Beach sold by McGrath Estate agent James Baker for more than $3.1 million before auction. Photo: McGrath
The house was designed by revered architect Alexander Jolly who also designed Loggan Rock, Hy Brasil and Careel House all in the Avalon - Whale Beach area.
The current owners renovated the entire property over the eight years they’ve lived there.
“We had three really hot buyers on the property all negotiating to secure it before auction," said agent James Baker to WILLIAMS MEDIA.
"On Saturday, a fourth buyer came in with a strong offer adding to the mix.
"A city-based family are thrilled to now have Moon Lodge as their new holiday house.
"They not only fell in love with the property but have great regard for its architectural heritage.
It’s like buying a piece of art you can live in.”
National auctions
This week, 867 capital city homes were scheduled for auction, with preliminary results returning a 65.9 per cent clearance rate.
The previous week saw 612 homes scheduled for auction and a final clearance rate of 62.7 per cent.
Source: CoreLogic
One year ago, there were 1,661 homes taken to auction and a 58.0 per cent clearance rate.
Although the number of auctions held remains low, since restrictive policies around open homes and onsite auctions were lifted, the trend has been towards more auctions held and a substantial reduction in the proportion of auctions withdrawn prior to the event.
Source: CoreLogic
The number of auctions held this week was the highest since the week ending April 19th.
Melbourne
Melbourne had the highest clearance rate at 71.9 per cent with a total of 259 auctions.
Canberra
The Australian capital followed hot on the heels of Melbourne with a clearance rate of 70.8 per cent with a total of 30 auctions
Sydney
The NSW capital came third with a clearance rate of 68.1 per cent but the most auctions held at a total of 469.
Adelaide
There were 23 auctions in Adelaid with a clearance rate of 66.7 per cent.
Brisbane
The Sunshine capital had 72 auctions with a clearance rate of 40.9 per cent
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