Competition Creators May 04 AUS

COMPETITION
C R E A T O R S Real-time weekly auction data from the

largest property group in Australasia
04.05.21

85% Ray White agents sold 85 per cent of all auction properties last week.

12.72%

Highest offer prior versus sale price
Ray White data shows that our sellers who proceeded to take their property to sell under the hammer were rewarded
with a sale price 12.72 per cent higher on average than the best offer prior last week.

6

Average registered bidders
Data shows on average there were six average
registered bidders per lot nationally last week,
compared to 3.5 bidders in the same week a
year ago. The highest number of registered
bidders nationally last week was 33 bidders
competing for 164 Hanckel Rd, Oakville, NSW.

94%

Some 94 per cent of all auction campaigns
had active bidding on the day last week.

90% Ray White New South Wales Chief Auctioneer Alex Pattaro said May kicked off with a bang,
with mass crowds and aggressive buyers. “The apartment market in the inner city and inner
SYDNEY west is continuing to gain momentum, as buyers are looking at different segments with house
clearance rate price well exceeding their budgets. The middle house market between $1.3-$1.8 million is the
strongest it has been, due to many more buyers being priced out. There is no evidence to
suggest the market is slowing down, and with more stock coming to market, it makes the
ideal time to sell and buy, knowing you will be able to secure your next home once you sell.”

80% Ray White Victoria | Tasmania Chief Auctioneer Matt Condon said Victoria continued to see
strong auction results, especially with the great weather on Saturday. “Based on preliminary
MELBOURNE data from the Ray White Group, there has been an increase in the average amount of active
clearance rate and registered bidders per auction. On the ground it has been noticeable that buyers are
holding back, waiting for properties to be announced on the market. After the bidding starts,
competition and momentum well and truly continued. May is shaping up to be one of the
best months we have ever seen, and the Victorian market is going from strength to strength.”

68% Ray White Queensland Chief Auctioneer Mitch Peereboom said it was another outstanding
week of auctions, with both in-room and onsite performing well last week. “The average
BRISBANE number of registered bidders has remained consistent week to week, and we are getting huge
clearance rate sale prices as a result of competition created on auction day. We are advising sellers not to
take the first offer that comes along and don’t do the off market deal. If a buyer is willing to
pay a number today, there are very likely other buyers who are prepared to pay more.”

87% Ray White South Australia Chief Auctioneer John Morris said the sun was out in Adelaide on
Saturday, and sellers were having an early spring. “Throughout South Australia, there were
ADELAIDE 187 auctions scheduled with over a third of them being Ray White auctions, which is
clearance rate fantastic for the yellow brand. I have had an average of 10 registered bidders today, and
nothing seems to be slowing down. My hammer keeps dropping from auction to auction. We
have a fantastic May and store, and I believe we are in for a bumper winter,” Mr Morris said.

60% Ray White Western Australia CEO Mark Whiteman said since the start of the year the
network had cleared more than half their auction stock and recorded a doubling in the
PERTH average registered bidders to 5.6 on average. Auctions are increasingly becoming more
clearance rate popular in the west. There has been a definite short-term increase in the Perth auction
market of late. Auctions create an environment that allows both buyers and sellers to see
exactly what interest is out there. On auction day, buyers can see who else is interested in
the home and what they are prepared to pay for it. Competitive bidding among buyers on the
day ensures the seller gets the best chance of a premium price. Bidding is unconditional,
therefore there are no long delays or long negotiation periods and no waiting period of four
to five weeks for financial approval.

We have been in the auction business since we were founded by
the White family in 1902. Our agents and auctioneers are highly
trained in the process. This is a tried and tested method which will
create competition to achieve the best price for your property.

© Ray White Real Estate Partnership Australia 2021