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Auction

Results from our Auction 22 to 29 October 2020

A very busy and active week began just prior to the Labour Weekend holiday, with three properties

having been brought forward from their designated 28 October and 2 November auction dates.  This was due to an unconditional, pre-auction offer which was accepted by the vendor, subject to the property being submitted to auction on the earlier date.

  • 14 Paykel Avenue in Farm Cove, from the pre-auction offer of $2,100,000 and after some 20 bids, sold ‘under the hammer’ for $2,412,000
  • 21 Ennis Avenue, Pakuranga followed, with the pre-auction offer of $1,050,000 attracting 18 bids, to sell ‘under the hammer’ for $1,190,000
  • 2/2 Seaglen Place in Botany Downs received a positive pre-auction offer and sold ‘under the hammer’ for $940,000
  • Immediately post Labour Weekend, 27 October, 25A Sale Street in Howick was brought forward from its designated 2 November auction date due to an unconditional, pre-auction offer having been accepted by the vendor, subject to the property being submitted to auction on the earlier date.  From its pre-auction offer of $1,700,000, this popular neighbourhood location home attracted 11 bids and ‘sold under the hammer’ for $1,960,000
  • Highlights from 28 October include 41 Ridge Road in Howick, which sold ‘under the hammer’ after 8 bids, for $1,880,000
  • 20 Fordyce Avenue, Sunnyhills followed and, after 16 competitive bids, sold ‘under the hammer’ for $908,000
  • After a tentative start, the bidding activity for 9 Delray Place in Shamrock Park became more serious, attracting very competitive 94 bids and selling ‘under the hammer’ for $1,856,000
  • 1/ 2 Reeves Road, Pakuranga also received 32 competitive bids to sell ‘under the hammer’ for $1,210,000

29 October arrived with an early and very full attendance for the second day at the Bucklands Beach Yacht Club, the home of Ray White Auctions and, as with the preceding portfolios, a very positive attitude to bid and buy.

The properties being offered in this portfolio were found in Pakuranga, Bucklands Beach, Eastern Beach, Howick, Cockle Bay, Northpark, Golflands and Dannemora.  Again, as with the preceding portfolios there was a variety of property type, price range and location across our Eastern Beaches area.

  • The evening commenced with 38A Gibraltar Street in Howick, which sold ‘under the hammer’ after some 14 competitive bid, for $1,320,000
  • 2/26A Eastern Beach Road, Eastern Beach followed, attracting extremely competitive bidding and, after 60 bids, sold ‘under the hammer’ for $1,345,000
  • 11 Redcastle Drive in Dannemora came next, attracting 34 competitive bids and selling ‘under the hammer’ for $1,303,000
  • 1/84 Frank Nobilo Drive, Golflands was another property which attracted multi-competitive bidding, selling after some 38 bids, for $1,180,000
  • 42A Dale Crescent in Pakuranga also attracted 36 very competitive 36 bids to sell ‘under the hammer’ for $743,000
  • 28 Elliot Street, Howick attracted redevelopment buying interest and, after 28 competitive bids, sold for $2,260,000
  • After post-auction negotiations with the bidding interest, 17 Anaheim Boulevard in Shamrock Park and 20A Baird Street in Howick both achieved sales

We continue to work with the buying interest for the balance of the portfolio to affect a successful sale for our vendors.

So, after more than three weeks of marketing, we achieved extremely pleasing, positive and competitive bidding, providing great results for our vendors whose properties sold under the hammer.  However, it should also be acknowledged that the sales provided buyers with an opportunity to buy quality real estate assets knowing that, while having to competitively bid/buy to be the ‘winner’, they were bidding/buying property which was also the first choice for a number of other buyers.

The prices achieved confirmed our ability to maximise price for our vendors.  Nonetheless, to achieve such results buyer interest, bidding registrations and actual competitive bidding are the components to achieving great results.

This year is disappearing all too quickly.  However, as we move through the remaining weeks of November and the earlier weeks of December, we will have quality portfolios of property which will give buyers an opportunity to evaluate the buying options, along with our ability to give prospective buyers direct access to a highly experienced, award winning team of mortgage advisors, who have access to a variety of lending institutions and their very favourable mortgage conditions.

As a foot note, I keep an eye on Australian trends through reports published by Williams Media.

This week reported:  ‘Auction volumes increase in Melbourne and properties sell above reserve prices across Australia.  Melbourne saw a substantial increase in scheduled volumes this week, with 188 homes taken to auction, up on the 59 auctions last week and the largest number of auctions in two months.

Sydney

Sydney continues to make up over 60 per cent of all auction activity.  Although volumes were lower over the week, with 707 homes taken to auction down from the 751 held over the week prior.

of the 560 results collected a preliminary clearance rate of 75.9 per cent was achieved.’

Ken Ralph

Auction Services Manager