Elizabeth Tilley
KEANE ON MONEY
Why young adults shouldn ’ t give up their home ownership dream
MARKET ADVICE
Should I stay or should I go ?
AUGUST 26-27 , 2023
Saturday , August 26 , 2023
BUILDING YOUR DREAMS
This coastal home blurs the boundary between this inside and out
ND AND DISPLAY HOME LISTINGS INSIDE
THE PLAN THE COMPACT SPACE SAVER
PAGE 4
GET OUTDOORS
5 TIPS TO GET YOU STARTED
PAGE 14
ASK THE EXPERT
Who cleans up the road mess ?
Super spring selling season
Ray White Commercial launches new visual identity , RWC
BY VERONICA RODRIGUEZ
BY SHANNON COOK
With bidder numbers and listings continuing to rise , newspapers across the country announced that spring came early for property and our Economics team , led by our renowned Chief Economist Nerida Conisbee , was at the forefront of the news .
At the beginning of the new financial year , we proudly launched our new visual identity for Ray White Commercial , stepping into the future with a fresh approach and dynamic identity as RWC .
Our new visual identity is the result of a collaborative discussion within the network , to better reflect our commercial specialists in the business and to enhance our positioning in the market . This change demonstrates our dedication to innovation , while continuing to provide the same level of excellence our clients expect from us . We ' re committed to honouring our past , yet allowing our commercial specialists to have their own unique identity .
We ’ ve already started to see some great applications around the grounds :
RWC WESTERN SYDNEY , NSW
Spring into hammer time
Tom Bowden
Looking to sell your property this spring ? Have you considered auction ?
Ray White data shows properties taken to auction across metropolitan Adelaide in August through the agency – one of the largest in both the state and the country – attracted , on average , six registered bidders , with about 3.1 of these having a bid on the day .
Of data supplied by the company going back to January 2021 , the current result is in line with the average for that period – six registered bidders cause they love the transparency of the method ,” he said .
School services officer Tania O ’ Brien and her husband , Chris , are currently selling her late parents ’ 16 Tilley Court , Marion , home through Mr Paton and she said she had seen the market take off in the suburb in recent years .
“ With properties selling so quickly in that area at auction , we ’ re hoping to get the best price , and we think auction will
do that for us ,” Ms O ’ Brien said .
Nipping at Marion ’ s heels
A glass act
MAGAZINES INSIDE SA SUBURBS THAT ATTRACT THE MOST BIDDERS
Suburb
Average Active
Average Registered
Sale v Offer Prior
Number of auctions
Conditions primed for spring to bring out the buyers
Auction season is knocking
AUCTIONS SPRING BACK TO LIFE
Serious bidders return to property fray
A pause in interest rate hikes and a boost in seller confidence has fuelled an early start to erage than the previous highest offer .
Ray White data analyst Wil-
Gravatt , which averaged 11 registered bidders per auction and held 22 auctions , according to the Ray White research .
AUCTION ‘ BIG DRY ’ IS OVER AT LAST
R E A L E S TAT E
R E A L E S TAT E
EXCLUSIVE Aidan Devine
Real Estate Editor
Competition at Sydney auctions has eased over recent weeks as more homes have come onto the market but buyers are still being pressured to offer higher prices in much of the city ’ s west .
Ray White data showed those bidding for properties across Sydney in August typically competed against three to four other buyers , down from four to five registered bidders in May . It was also a sizeable drop from the nine registered bidders that was the norm at Sydney auctions during the height of the last property boom in July 2021 .
That drop in bidder 64num- bers followed a 9.2 per cent annual increase in the volume of properties newly listed for sale last month , which ended a prolonged dry spell for listings northern beaches and Ryde region , with commentators noting listings in these areas were rising faster than buyers could absorb . This suggested home prices growth in these regions could slow in the coming spring months .
Auction volumes in Western Sydney remained low and buyers were often against stronger competition as the cheaper prices tended to attract more buyers .
This included buyers who would have originally purchased in pricier eastern or northern suburbs before interest rates shrank their budgets .
Ray White ’ s research showed the most competitive August auctions were in Quakers Hill and Glenwood in the northwest , and Yagoona in the southwest , where there were typically about eight bidders . Auctions in Bass Hill and West Hoxton attracted an average of about six registered bidders .
Properties in the higher ning sales .
LJ Hooker research had a similar finding , with the group reporting a 24 per cent increase in requests for appraisals over the last eight weeks , signalling more homeowners wanted to sell .
Ms Conisbee said two factors were encouraging more homeowners to list , which was gradually digging the market out of the listing slump recorded over winter .
“ Interest rates are high and there has been talk of rental caps so more investors are selling ,” she said .
“ The other seller group is homeowners who have been encouraged to list because prices are growing . And as more properties come onto the market , those homeowners may see more properties they like and that makes them more confident about upgrading .”
Chris Dauth and Sarah Brill are selling their Randwick
Spring sales set to go through the ro
“ It ’ s a real springboard to
Peter Vines and Vee Li standing with new RWC signboard for 252 Johnston Street , Annandale .