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Auction Report 12 September 2023

This portfolio produced positive buyer interest that resulted in competitive bidding and sales “under the hammer “and positive buying interest from those who were unable to register for an unconditional sale.

As highlighted in recent reports there is clear evidence that buyers are confident in their decision to buy and are now focusing on their requirements for the new year, be that for schooling requirements size of home or lifestyle. Our Eastern Beaches area 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.

The portfolio included quality properties across our residential areas of Sunnyhills, Bucklands Beach, Howick, Huntington Park, Dannemora.

It was so pleasing to see vendors achieving excellent sale results that allowed them to move on to enjoy their current requirements and buyers delighted to have the opportunity to buy quality properties, or vendors finding a very accurate buyer driven price indication.

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 a pleasing final bid price.

Highlights throughout the evening:

25 Olena Avenue Sunnyhills attracted competitive buying interest for a family sized home surrounded by a 638m2 section, that offers utilisation options with its two-level floor plan providing 5 bedrooms, 3 bathrooms. Sunnyhills schooling always ensures important position factors for family buyers. After some 21 competitive bids its sold “under the hammer “at $1,800,000

97 Kilkenny Drive Dannemora offered buyers a single level brick and tile clad, 3-bedroom home, located in a very popular neighbourhood that enjoys sought after schooling. The pleasing presentation added to buyer appeal. After some 13 competitive bids its sold “under the hammer “at $1,443,000

17 Limmerick Place Dannemora also offered another, pleasing presented, single level brick and tile clad home whose floor plan provides 3 bedrooms, 2 bathrooms.  A popular cul de sac address with access to popular schooling under pins family buyer position priority. After some 15 competitive bids its sold “under the hammer “at $1,438,000

1 and 2/ 22 Galsworthy Place Bucklands Beach offered buyers an opportunity to secure 2 units as one parcel with each unit providing 2 bedrooms and combined living plus single garage storage. Ideal as a rental investment or a live in one and rent the other. The 658m2 section provides exclusive use areas. Discussions with the highest bidder resulted in an increase bid price and then a sale “under the hammer “at $1,800,000.

54 Drake Street Howick offered buyers a more traditional 3-bedroom brick and tile clad home located within a popular central Howick address. Well presented with modern fittings and fixtures added to buyer appeal. It also sold “under the hammer “at $1,180,000.

3/62 Uxbridge Road Howick offered buyers an exceptionally well-presented easier care home so close to the heart of Howick.  While the auction attracted bidding the property was “passed in “for further negotiations with the highest bidder and subsequently it sold post auction to vendor and buyer satisfaction.

We continue to work with the balance of the portfolio, which while attracted buying interest, were not able to register to bid on an unconditional basis , so we continue to work with these interests to secure a sale that is satisfactory to our vendors.

So, after three weeks of marketing, extremely pleasing, positive, response to the three weeks of marketing. A market confidence result, however, it needs to 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 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.

Ken Ralph

Auction Services Manager