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The Block Auction Results 2014

Chris & Jenna's Apartment

Chris & Jenna’s Apartment

Last night the nation tuned in to watch the finale of Channel 9’s The Block. Whether you’ve followed the series since the beginning, watched a few episodes here and there or purely just switched on to see the results, we were all watching and everyone’s talking today!

Last year the contestants took home over $500,000 each, a big difference to this year’s results…
  • The boys Simon & Shannon won this years series and took home $445,000 ($100,000 prize money plus $335,000 profit)
  • 2nd place Chris & Jenna walked away with $310,000
  • 3rd place Max and Karstan received $40,000
Shannon & Simon's Apartment

Shannon & Simon’s Apartment

Darren & Dee and Michael & Carlene walked away with just $10,000 for their efforts over the last 10 weeks. As news.com.au calculated, their efforts were worth $10.21 per hour based on a 16 hour working day over 7 days a week, including the $700 per week away-from-home allowance received from Channel 9! To sum it up, these two couples worked for just over half of the hourly minimum wage.

This morning I asked our Managing Director Kylie Emans about the results and her response as a real estate agent was: “the property market has spoken, now that was reality! The only reality in that reality tv show!”

Michael & Carlene's Apartment

Michael & Carlene’s Apartment

All those people lining up to look and all of us watching on TV but who are the buyers? 3 bidders stood out and the first auction stalled before a bidding war between two parties kicked off (what a relief that was!), but they were all the same buyers (even some familiar faces from previous seasons) bidding on each apartment, what a joke!

Now everyone is pointing the blame – were the reserves set too high? Are the auctioneer’s to blame? Did the bidders have inside information? Or was it all down to the order of the auctions? (despite the majority of couples wanting to go towards the end!)

One thing’s for sure, it definitely shows the unpredictable nature of the property market!Source: http://www.news.com.au/entertainment/tv/the-block-darren-and-deanne-and-michael-and-carlene-earnt-just-1071-per-hour-for-their-efforts/story-fn8yvfst-1227088489917

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50% local auction clearance rate

Last week our local postcodes of 2230 to 2229 achieved a respectable clearance rate of 50%.

Sydneywide achieved a 60% clearance rate according to Home Price Guide but I am sure the true figure is probably closer to our local 50% result. Home Price Guide doesn’t have agents on the ground actually going to auctions but instead relies on agents to submit the data. Agents traditionally are reluctant to submit withdrawn, passed in and cancelled results.

In our local area, last week’s sales included several properties over a million dollars where previous weeks have proved tough for the early million price range.

Our suburb auction focus is Cronulla, Woolooware, Burraneer, Caringbah, Lilli Pilli and Dolans Bay

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The Year Ahead in Real Estate

I’ve just come back from a real estate conference in New York and this is the sale they are all talking about in Manhattan – an apartment at 15 Central Park West – which a Russian fertilizer billionaire named Dmitry Rybolovlev bought for $88mil for his 22year old daughter! They are saying he paid full price! It has shattered any previous New York record.

http://15centralparkw.com/

So amongst the doom and gloom we hear on the news all the time, there is a little bit of rosiness for you!

Locally, as the real estate market kicks into gear, we are all wondering what sort of year it is going to be.  Last year at this time, we had already had the Queensland floods and were about to experience the affects of the Christchurch earthquake quickly followed by the Japanese earthquake, tsunami and nuclear meltdown.  Understandably, everyone was very jittery.

The first auctions for our area are scheduled for Saturday 11th February so all eyes will be on these properties and before those auctions the Reserve Bank will meet next Tuesday, 7th February with all indications there might be an interest rate reduction.

However it turns out, Beach & Bay is looking forward to another year of assisting past clients and new clients in the smooth, stress-free sale or purchase of their property.

 

 

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Auction reporting controversy as reported in the Sunday Telegraph

I read with interest the article titled “Auction rates fudged by failed campaigns” on page 11 of Sunday’s Telegraph (6th March, 2011).

The paper reports that the number of unreported auction results for Saturday 26th February in Sydney was 195 out of a total of 622 properties that were listed for auction. The clearance rate was quoted as being 65%.

Beach & Bay Realty has been recording the statistics of auctions in our area with the support of clients, potential purchasers and local residents assisting us with information for 3 years now. We find that each week our statistics for our local area are a lot more accurate than most of the reported results in the Sunday papers.

In the last month in particular we have noticed that the results for the postcodes in 2230 and 2229 have been below the Sydneywide clearance rates by about at least 10 – 15%. Since the start of the 2011 auction year our area has averaged a 50% clearance rate.

I found it interesting that in the same Sunday Telegraph article, Damien Cooley of Cooley Auctions admitted that his company on Saturday 26th February, had a clearance rate of 51%. Being an independent auction company that works for agents around Sydney, their auctioneers have first hand knowledge of the results whether the agents like it or not. WELL DONE Damian!

I also find the Sunday Telegraph’s reporting of auctions confusing. If a property sells at auction it seems to be reported as “A” which under the definitions panel reads simply “Auction”.  Other categories to choose from if an auction is successful are P= Sold Prior, S=Sold, SA=Sold after auction, but no “Sold at Auction” so why do they use A and not S and does A mean sold at auction or just that it went to auction? I think “A” needs to be redefined as “Sold at Auction”!

I have rung the Telegraph to ask them if “A” means that the property sold at auction, or only “S” is sold and no one seems to understand the confusion I have with this. Is it just me?

There is no real answer to these accuracy issues regarding auction statistics but I hope the vendors out there who have not sold find comfort in the fact that really 50% of vendors also did not reach a sale by auction day. The good news is that most properties do sell in the weeks post a failed auction.

Beach & Bay Realty will continue to report on auctions in our suburbs of focus as accurately as is possible. These suburbs are Cronulla, Burraneer, Woolooware, Caringbah, Caringbah South, Lilli Pill and Dolans Bay.

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Midweek Auction Report for Cronulla, Caringbah, Burraneer, Woolooware

More midweek, in room auctions were held last night and 3 properties in our postcode focus went under the hammer with 1 selling and 2 passing in. The start to the auction year has been sluggish but the good news is that there seems to be plenty of buyers if the packed auction rooms last night are any indication. Bids were received on all properties and no property passed in with a vendor bid. There were other auctions held  for properties in the Sutherland Shire but outside our focus suburbs, also with a similar result.

In addition, the auction of the retail premises of Cronulla Flower World, Shop 4, 113 Cronulla St passed in at $825,000, well below expectations.

Are buyers hesistant due to the forthcoming state election?

The 3 properties in our area were;

To view auction results see here

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New features of auction results

Every month when I check the statistics of our website I get excited to see they are continually growing (and fast!). A big stand out from our 2010 statistics is related to our auction results. For those following Beach & Bay you would probably know by now that we track auctions in the area (Cronulla, Woolooware, Caringbah, Lilli Pilli, Dolans Bay, Burraneer). We do this as a labour of love and it is not easy work! We hope that by providing this free service we can spark interest in the community regarding real estate, and also assist ANYONE (buyers, sellers, agents) with their research.

In 2010 our auction results were viewed over 12,000! We have revamped the system so I am going to step you through some of the new features.

Quick Search – Search by street


If you live in a particular street and are thinking about selling, wouldn’t it be great to know the results of similar properties? Or say, you are buying in Gannons Road, Caringbah South, you can check past prices or forthcoming auctions.

Search by Date

Search by Suburb

Know that a property you are interested went to auction last week? Last month? This is a great search tool.

Search by Agent



As well as these new features you can still search by exact date or month, type of property and price range. To see how, visit here.

Disclaimer: Beach & Bay Realty takes care in compiling this information however no reliance should be placed on its accuracy.

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Looking back one year….

With the dreaded end of financial year now behind us, I thought it would be appropriate to take a trip down memory lane and look at what has happened at Beach & Bay Realty in the last year. June 2010 marked our 10th birthday, and we don’t often toot our own horn, but when an important milestone like that comes around, it’s a cause for celebration.

Kylie Emans started Beach & Bay Realty with many great ideas. She wanted the agency to be independent of franchises, technologically advanced and with agents committed to ethical practice – honest, hardworking and fair. From the get go Beach & Bay has been at the forefront of adapting to changing technologies, embracing the internet as an advertising medium from the very beginning. Over the last year we have been working tirelessly to improve our website – collecting auction results for the public as usual but also adding more and more features.

In the last year….

Looking at Beach & Bay Realty Offline

  • Beach & Bay had a record month in February 2010, selling over $15 million dollars worth of property. Considering only 2 agents were responsible for these sales this is an enormous achievement, if we do say so ourselves!
  • Beach & Bay was appointed the exclusive selling agents for Drift Cronulla, a  luxury lifestyle apartment block with state of the art inclusions. Everyone here was absolutely blown away by these enormous prestige properties which set a benchmark not only for Cronulla, but Sydney-wide in regards to apartment living. Starting from $2.25million, built by Sammut Developments, and located in the heart of Cronulla, Drift attracted a lot of attention.
  • Kylie Emans was nominated for a Telstra Businesswoman of the Year award
  • Yet again we have had another full year of secret sales at record prices, proving that our database is not just a gimmick but an excellent selling tool and one we actually use. Instead of 1000’s of names on a list we work with a handful of value clients.

Looking at www.beachandbay.com.au

  • 25,000 people have visited our humble independent website
  • You have looked at over 78,000 pages
  • 11,165 of you are new visitors – (thanks for stopping by, we love you and hope you come back!)

Auction results

  • 12,768 is the number of times our auction results have been viewed. We provide this service for free because we want to be the local experts and we want to share our love of realestate with you. (We were also a bit tired with the lack of coverage of our area.)
  • 1344 is the number of times our blog has been read – Don’t be frightened guys, we encourage you to stop by and read more. It’s not all real estate talk we promise. We cover local events, charities, property news, current affairs. And if there is a specific topic you would like addressed, just let us know!

Drift, Cronulla by  Sammut Developments

  • Drift listings, blogs and posts on Sammut Developments were viewed over 5600 times on our website alone. Many of you wondered what living in the Drift Penthouse would be like and this listing was viewed over 1200 times.

Fundraising for Teneile

  • Natalie Vials put the call out to help a friend and past client whose daughter had suffered from brain damage. We developed a website for Teneile Pawley, hoping to raise money to go towards medical costs and buying her a much needed wheelchair. Online donations came pouring in, Nat’s husband, Steven Vials, ran 250km through the Kimberleys to raise support and we topped it all off with a HUGE party at the Brass Monkey Cronulla. To date we have raised $25,000 in 6 months and will continue to support this great cause.

Fundraising for The Leukaemia Foundation

  • I asked Kylie if it would be ok if her front of desk –marketing & social media manager was bald. She asked if it was just a new hairstyle I wanted to try (I’ve been known to do drastic things to my hair) and I told her no, it was for the World’s Greatest Shave. With Beach & Bay’s full support I raised money for the Leukaemia Foundation online and also held a fundraising night at Northies, Cronulla where staff and clients attended. $7500 in total was raised and I was in the top 30 fundraisers for NSW. Kylie did draw the line at the eyebrows (I said I would shave them too if I raised $8000…so close!).

Cronulla Buzz

  • We created a new feature on our website that lists upcoming events in and around Cronulla. This is more work for us, trawling websites, actually reading flyers in our letterbox, and always keeping an eye out, but it means you can plan your weekends in advance, and that we know exactly what is going on in Cronulla. It’s just another way we hope to show you that our staff members live, work and play in Cronulla – and that it’s a great place to buy realestate!

E-Newsletter

  • We recently overhauled our e-newsletter to make it packed to the brim with juicy real estate news, auction results, local events, new listings and blog rants. Released fortnightly this is something you don’t want to miss out on! Email info@beachandbay.com.au and tell us you NEED to be put on our mailing list immediately.

REUNCUT Interview with Kevin Turner

Property Ad Guru

Ok, so enough bragging. What about next year you ask?

Well, we aren’t stopping here. We are a force to be reckoned with and we are only going to get better.

  • Our website will keep developing (we have an in-house (overworked) web designer).
  • Our auction results are going to be more comprehensive
  • Our support of charities will continue. July 2010 marks Beach & Bay Realty’s first attempt at “Dry July” where staff members are giving up grog for a month to raise money for adults living with cancer.
  • We will continue selling luxury real estate and expanding our marketing (we currently offer individual property websites, the only agents doing so)
  • We will be doing more project marketing since our success with Drift. Stand by for news on this.

Watch this space.

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Auction Success Amongst Sleep Deprivation & Politics!

The 57% clearance rate (8 out of 14 auctions sold) last week doesn’t reflect some of the excellent prices achieved in the postcodes of 2230 & 2229 (Cronulla, Woolooware, Caringbah, Burraneer, Dolans Bay & Lilli Pilli).

102 Turriell Point Road Lilli Pilli selling for $200,000 over the reserve and 4 Judd Street Cronulla with a selling price of $1.428mil reflects a solid market, lacking in supply.

The real estate market has been overshadowed in the news with the change of Prime Minister, and mid way through the football World Cup, everyone is sleep deprived and a little grumpy, but when politics settles down and the World Cup is over – stand by for the real estate market to hit the news headlines again!

World Cup

(But let’s face it – it is quite easy to get distracted in times like these…..)

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Auctions Falter

The auction market has been steaming ahead since February this year with clearance rates often in the 80% range. Last week this all came to a grinding halt in our area with a clearance rate of 12% or 2 out of 12 (with one of these properties selling prior to auction).  Sydneywide the clearance rate was 64% according to Home Price Guide.

History repeats itself, 6 rate rises in quick succession, a new property tax, global uncertainty, volcanoes erupting, share market meltdowns, diabolical oil spills… And we are surprised that people are hesitating to buy or sell real estate?

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