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.
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.
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 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.’
Auction Services Manager