Summer Auction wrap up: $22M+ sold in a day!

On Saturday, January 30th, hopeful buyers converged on the Ray White Canberra’s Summer Auction event.

In less than 6 hours, 194 registered bidders vied for their favourite properties – culminating in a massive $22,464,000 worth of property being sold.

Alec Brown, Sales Director and Auctioneer from Ray White Canberra, says the event was their biggest yet with an overwhelmingly positive atmosphere.

“This was our largest event in terms of buyer registrations and is indicative of current market conditions post-COVID lockdown. The Canberra market is clearly going from strength to strength, and this event showed the level of buying desire as bidders competed for the limited stock we have in the ACT.

“The room was highly energetic throughout the whole event, and we were happy to see it come together so well because we’d put a lot of effort into creating a COVID-safe environment.

“Every property had a great story. In one of the auctions, we had a mum and dad bidding while the children played on their tablets. As soon as we announced that they had won, mum and dad were able to interrupt the kids and tell them. It was so touching to watch the family celebrate in that moment.”

Key stats from the Summer Auction included:

• 194 registered bidders
• $22,464,000 worth of property sold
• 29 from 38 available properties sold
• 76% clearance rate

Of the properties that didn’t sell on the day, negotiations have been well underway since the event.

“A few of the properties that didn’t sell have already had offers accepted which is a really good outcome for those who weren’t able to secure it on the day.”

Zango’s team was on hand during the auction to assist with a fundraising BBQ, which raised $500 for our charity partner Hands Across Canberra.

“Zango was kind enough to man the tongs for the duration of the event, and raised a tidy sum!” says Alec. “Around 30 of the 38 properties that went under the hammer on Saturday were listings that were exclusive to Zango. This really goes to show that Zango has become a major player in the Canberra property marketplace, and demonstrates the incredible sales results that a local platform is able to achieve.”

Ray White Canberra’s next major auction will take place in August to kick off the spring selling season.

“We have 2 large in-room events each year: January and August. We find it’s a great way to start a major selling season, and really enjoy the high energy and being able to witness people securing their new properties.”