The combination of investors coming to market and strong demand from home buyers created the perfect storm for activity at Ray White auctions today. 

Australasia’s largest real estate group scheduled 316 auctions on Saturday, recording a preliminary auction day clearance rate of 78.9 per cent. 

Ray White recorded an average of 4.2 registered bidders and 3.0 active bidders at its auction this weekend, reflective of agents’ feedback that a lack of stock is driving competition at auctions. 

Agent feedback also reported a rise in investors selling their investment properties at auction this weekend. Ray White’s innovative auction data shows just 15 per cent of vendors in Sydney last weekend were investors, which jumped to 30 per cent today. Over the last month some 32 per cent of sellers in Melbourne have been investors selling up.

The top result of the day went to Ray White Collective agent Tom Lyne who sold 76 Crescent Road, Hamilton under the hammer for $5.2 million. 

The auction which recorded the most registered bidders was 16 Arunta Crescent, Clarinda which recorded 18 registered bidders and eight active bidders. Marketed by Ray White Burwood agent Kimi Meng, the property sold under the hammer for $1.282 million. 

Images and Graphics supplied by The Ray White Group.