NationalReal Estate Industry News

Weekly auction wrap: Registered bidder numbers jump

The buyers returned over the weekend as auctioneers saw another strong auction clearance result across the country.

Both Sydney and Melbourne saw jumps to 81.2 per cent and 73.2 per cent respectively, both up on last week’s final results.

Elsewhere the numbers were also strong, with another week where auctions closed out above the 70 per cent level nationally, finishing at 70.4 per cent.

Around the country, there was a clear theme of increased registered bidders and growing interest from buyers, who are now starting to become more active at auctions, headed into the spring selling season.

Justin Nickerson (QLD)
Justin Nickerson saw a great turnout from buyers in a positive sign of what might come in the next few months.

“We had one of our strongest weekends in some time up in Brisbane. We had the highest number of registered bidders for the year, which was good to see.

“Overall the Brisbane clearance rate was really strong and we ended up at 62 per cent, which is as strong as it’s been all year.

“So again, it’s sort of a little bit early to probably be able to say the market is coming back but definitely things are headed in the right direction at the moment.”

Alec Brown (ACT)
Snow in Canberra over the weekend doesn’t appear to have slowed down the interest in the property market, with Alec Brown seeing a very solid weekend.

“It was probably one of the biggest weekends in terms of buyer numbers that we’ve seen in quite a long time. On two auctions, in particular, we had over 10 registered bidders which was a really strong sign.

“Buyers are clearly there at the moment and prepared, but it still depends on the different circumstances as to how it all unfolds.

“On the whole, we are seeing some very good results starting to filter through and you know, we keep saying this, but there are indications to suggest that this market really is starting to build.

“We’re seeing a lot of people through the door at the open homes at the moment with fabulous levels of inquiries and inspections, and it is starting to look like we’re turning a corner.”

David Holmes (Canberra/QLD)
The theme was the same for David Holmes, who also saw a real pickup in the buyers across the board this weekend.

“We had one of the highest numbers of registered bidders that we’ve had for some time and overall there are a lot more that are willing to take action.

“Three months ago buyers were hesitant to even register and now that’s all changed, so spring is looking very positive.

“We finished up with a clearance rate of around 40 per cent over the weekend, with a couple hitting reserve and a couple more passed in around Brisbane, while Canberra was 60 per cent.

“I think the volume is only starting to increase so we will have a fair bit of a better indication of how things are going in the next few weeks as we hit spring.”

Luke Banitsiotis (VIC)
Luke Banitsiotis saw a fair bit of interest in both open homes and registered bidders at auctions, however, he noted that for properties to sell, sellers still need to meet the market’s expectations.

“The market around Victoria is still quite healthy and is still being driven by low stock levels at the moment.

“We’re hearing stories where there are five or six bidders at auction, so we know there are healthy numbers. If you get the price right it will move.

“We’ve noticed that our appraisal calling rate over the last month is up 50 per cent over the previous month. So a lot more people are making that decision and that’s a good sign that there is volume coming.”

Stu Benson (NSW)
Stu Benson is starting to see a pick-up in auctions heading into spring, but that isn’t necessarily an indication of higher volume just yet.

“I’ve taken more bookings in the last week than I have in any seven day period all year. That said, it still doesn’t seem like more listings are coming to market, rather a higher percentage are choosing to sell via auction. If supply stays low, clearance rates will continue to remain solid.

“Big crowds are gathering at almost every auction, and there’s no doubt that neighbourhood interest in the good ol’ fashioned Saturday auction is back. We’ve had some amazing ‘above reserve’ results in the Hills District, I had one sell $205k above reserve on Saturday, which is undeniably driving positive public sentiment.”

Gavin Croft (NSW)
Gavin Croft saw another strong weekend of action across Sydney, with strong buyer turnout and the number of bidders increasing.

“There were eight auctions booked this week, six sold giving a weekly auction clearance rate of 75 per cent with an average of 5.5 registered bidders per auction.

“We are seeing auction campaigns delivering in excess of 300 groups through – as seen in the Burren St, Newtown auction from the weekend. Remarkable energy and interest in a four-week period.”

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