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Auction Report 2 November 2022

The beginning of a new month with sale results that will give both sellers and buyers added confidence as we move through the remaining weeks of this year.

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, Cockle Bay, Dannemora and Mt Wellington.

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:

65 Uxbridge Road Howick  attracted a preauction unconditional offer that was presented to our vendors and accepted subject the property being submitted to auction at its designated auction date. 1012m2 surrounds a four bedroom brick and tile clad home of appealing traditional construction design. After long ownership of some 30 years new ownership will not only enjoy the space of this family sized home but its walking distance to the heart of Howick Village location. The preauction offer of $1,740,000 attracted another 5 very positive bids to see it eventually sell “under the hammer “at $1,790,000

79 Jolson Road Mt Wellington was another property that has enjoyed very long ownership, this time some 60 years. 675m2 surrounds a traditionally built brick and tile clad home that offers new ownership to either refurbish / revitalise the interior presentation and section landscaping or maximise the options that 765m2 allows in this Mt Wellington area that has experienced renewed buyer development interest with its close proximity to the expanding Sylvia Park shopping and services adding to the confidence to invest in this locality. Positive bidding resulted in a total of 14 bids and a sale “under the hammer “ at $830,000

3/ 34 Uxbridge Road Howick offered buyers a contrast to our first offering of the evening being a 1970’s built two bedroom home which now enjoys a refreshed presentation of contemporary colour tones and furnishings. An opportunity to move to an established neighbourhood within walking distance to the heart of Howick Village shopping and services added to the easier care aspects of the home and its presentation. A positive bidding start resulted in a sale “under the hammer “at $1,090,000.

28 Abercrombie Street Howick was another example of presentation meeting the demands of buyers seeking a complete contemporary presentation. The floor plan of this home provides combined open plan living with three bedrooms, two bathrooms. Outdoors an electric retractable awning covers patio courtyard where el fresco dining and relaxing will be a pleasure. This was another property that attracted a lot of attention and very active bidding , so after very competitive bidding, some 21 bids, it sold  “under the hammer “ at $1,302,000

46A Pah Road Cockle Bay attracted buying interest to a popular Cockle Bay address and to a renovated 1980’s home of three bedrooms. Attractive garden outdoor living added to the appeal of this home. It sold  “ under the hammer “at $1,200,000

23 Wayne Francis Drive Dannemora  offeredbuyers a brick clad home surrounded by a 611m2 section. The floor plan provides four bedrooms, two bathrooms , kitchen and dining combining well together with a more separate lounge. Again, presentation was the key to buyer interest  with the refurbished presentation ensuring definite appeal.

I noted earlier in this report –  “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”.

That was definitely the case here where very determined bidding from a final two bidders was going to ensure that they maximised all their opportunities to secure a sale and new ownership for them.

After a run of competitive bidding, the property was placed “on the market to sell under the hammer “ at $1,435,000 , but , determined bidding continued and then with a total of 45 bids it eventually sold  “under the hammer “at $1,485,000.

48 Whimbrell Place Flat Bush attracted bidding which did not quite reach vendor price expectations to sell “under the hammer “ however at the time of completing this report we are continuing to work with the buying interest.

Likewise, we continue to work with buyer interest for 8 Ifield Place Burswood.

So, after three weeks of marketing, 6 of the 8 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