Auction Report 9 November 2022

This portfolio continued the confidence level we have been experiencing over the past few weeks, with sale results that gave sellers the opportunity to sell prior to the end of the fast approaching end of business 2022 year and buyers the opportunity to know where they will start 2023.

Buyers, in particular, are taking advantage of quality property listings to focus on their requirements for the new year, be that for schooling requirements, size of home or lifestyle. Our Eastern Beaches area certainly offers buyers quality real estate options and quality buying real estate assets.

Again, it was our pleasure to welcome a pleasing attendance to the Headsail room of the Bucklands Beach Yacht Club, the home of Ray White Auctions. Those attending included people who had registered bidding interest, those who had expressed conditional buying interest and obviously those who came along to see what is selling and for what price to give an idea of what is happening very currently in the real estate market.

This portfolio included quality properties across our residential areas of predominately Howick, Mellons Bay, Burswood, Flat Bush.

It was also evident that being able to place properties “on the market” to sell “under the hammer” was the key factor in vendors being rewarded with further bidding and achieving the pleasing final prices.

Highlights throughout the evening:

10 Tullis Place Burswood attracted buyers seeking a popular design one level floor plan home that offered family accommodation with five bedrooms, three bathrooms all surrounded by a 596m² section. Increasing buyer attention is being paid to Burswood as it provides modern housing in quite a central Eastern Beaches locality. With 8 competitive bids it sold “under the hammer” at $1,440,000.

80 Oliver Twist Mellons Bay offered buyers an opportunity to move into a popular school zone neighbourhood. 675m² surrounds a one level floor plan home that provides four bedrooms, two bathrooms. The contemporary presentation followed the kitchen separating two separate living rooms. Indoors opens to outdoor living. No doubt the schooling of sought after junior to Macleans College will have added to the appealing features of the home itself. Very competitive positive bidding resulted in a total of 32 bids, underlining home plus school zone locality, and a sale “under the hammer” at $1,867,000.

8 Gulf Crest Bucklands Beach was another property that offered buyers a top school zone neighbourhood with just a short walk to Bucklands Beach Primary with those students progressing to Bucklands Beach Intermediate and Macleans College. While the neighbourhood positions factors are excellent, the home itself offered buyers excellence through its quality renovation and equal quality presentation. Upper level living absorbs and opens out to wrap around decking which picks up some small waterviews alongside urban views. A highlight for me is the lower level family room that opens out to manicure landscaping, high hedging and sculptured shrubbery ensuring complete privacy and just part of the 703m² section.

Five bedrooms, three bathrooms, internal access to generous garaging. Positive buyer interest involved comprehensive negotiations during auction time which resulted in a sale “under the hammer” at $2,750,000.

17 Savina Court Flat Bush also involved negotiation during auction time which was paramount to both sellers and buyers achieving their goal for Tuesday evening. This home provides a floor plan over two levels, five bedrooms, three bathrooms. More formal and family living spaces add to family comfort. This home is located towards the end of its elevated cul de sac neighourhood, part of a newer neighbourhood, but a neighbourhood quickly establishing itself. This was another property that sold “under the hammer” at $1,365,000.

The remaining two properties attracted conditional buyer interest and so we continue to work with this interest to secure a sale satisfactory to our sellers.

So, after three weeks of marketing, 4 of the 6 properties sold “under the hammer”, an extremely pleasing, positive, response to the three weeks of marketing. A market confidence result, however, it needs to be acknowledged that, the “under the hammer” 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 that was also the first choice for a number of other buyers.

The excellent prices achieved confirmed our ability to maximise price for our vendors, however, to achieve such results, buyer interest, working with our mortgage broker partners, bidding registrations and actual competitive bidding are the components to achieving great results.

It should also be noted, that our considerable experience during the auction of these properties, was the catalyst to ensuring that both vendors and buyers completed the evening with the success they had wished for prior to our 6pm start.

Ken Ralph

Auction Services Manager