Auction

Auction Report – 25 November 2019

Before we look at the 25 November portfolio, we need to report on auction activity from Friday 22 November.  A very pleasing number of people, for a very limited number of properties, attended the auction at the Bucklands Beach Yacht Club.  Two properties were brought forward from their scheduled auction dates due to pre-auction offers which were accepted by our vendors, subject to the properties being submitted to auction on the earlier date.   109 Kilkenny Drive in Dannemora sold ‘under the hammer’ after a $1,100,000 pre-auction offer start and 35 bids later, for $1,216,000.  19 Newbliss Crescent, Dannemora began from a $1,451,000 pre-auction offer and eventually sold ‘under the hammer’ for $1,466,000.

We can confirm extremely positive and encouraging real estate activity.  However, our success is the result of the quality of our auction portfolio listings across our Eastern Beaches area, as well as the considerable amount of highly skilled work from our sales teams to ensure that both vendors and buyers get qualified information, allowing them to make selling and buying decisions with confidence.  Considerable effort from the sales teams during the marketing programme determines the sales success of our auction portfolios.

The 25 November portfolio comprised fourteen properties, three of which had already been sold ‘under the hammer’, as reported previously.  We also detailed the sale of 33 Luplau Crescent in our 11 November report and so this left 11 properties for buyer bidding interest.

The properties in this portfolio came from Pakuranga, Sunnyhills, Half Moon Bay, Bucklands Beach,   Howick, Botany Downs, Cockle Bay, Northpark and Panmure.

The evening began with 9 Acmena Lane in Sunnyhills, which was sold immediately post auction for $1,300,000.

20 Darren Crescent, Half Moon Bay sold ‘under the hammer’ after eight bids, for $955,000.

5 Carriage Close in Northpark followed, with a sale ‘under the hammer’ for $1,170,000, after some 18 bids.

28 Majesty Place, Half Moon Bay also sold ‘under the hammer’ for $1,280,000, after nine bids.

With the Headsail room still full of people with real estate interest, the last two properties sold after very competitive bidding:

6 Freyberg Place in Howick sold ‘under the hammer’ after some 22 bids, for $1,310,000.

6 Jandell Place, Bucklands Beach sold ‘under the hammer’ after some 23 bids for $1,459,000.

There followed very positive activity immediately following the auction date, with sales for the balance of the portfolio:

39 Hobson Drive, Panmure

16 Cockle Bay Road, Cockle Bay

1/20 Osprey Street, Pakuranga

2/15 Regia Close, Half Moon Bay

We are still working with buyer interest for 2/25 Sunderlands Road in Half Moon Bay.

So, after three weeks of marketing, as stated at the beginning of this report, we achieved very positive results – a superb sale clearance for both our vendors and also success for buyers, who had the opportunity to secure quality properties.

Last evening on Thursday 27 November in our Howick Office Boardroom, three properties were offered For Sale.  Two of these were offered ahead of their scheduled auction date, due to pre-auction offers being accepted by our vendors, subject to the properties being submitted to auction on the earlier date.

13 Hinckley Court in Dannemora was brought forward from its’ original 9 December auction date, selling ‘under the hammer’ after a very competitive 18 bids, for $1,656,000.

15 Udall Place, Bucklands Beach was brought forward from its’ 2 December auction date, selling ‘under the hammer’ for $1,415,000 after37, exceedingly competitive bids.

5 Ware Place in Pakuranga was rescheduled from its’ 2 December auction date at our vendor’s request, after considering the buying interest to purchase ahead of the original date.  This was a decision which was well founded, with an ‘under the hammer’ sale of $1,061,000, after a mammoth bidding competition of 87 bids.

Our vendor clients are certainly listing quality properties.  This gives buyers quality buying options, as well as an opportunity to evaluate the these options 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 indicated in our recent reports, the results we are achieving demonstrate a confidence in the current real estate market, as well as a confidence in the quality real estate options which we enjoy in our Eastern Beaches area, particularly now, as we move through the remaining three effective transaction weeks for 2019.

As a foot note, I keep an eye on Australian trends through reports published by Williams Media, which this week reported with little activity comment, apart from volume numbers.

Ken Ralph

Auction Services Manager