Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent

Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent
Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent

Capital city auctions saw a national success rate hovering around 78 per cent. 

Canberra recorded the highest clearance rate this weekend with 90 per cent, while Sydney sat at 80 per cent.

Melbourne was the busiest auction market with just over 700 auctions, according to CoreLogic. Sydney was the second busiest capital with 578 offerings.

Of the 386 Sydney results captured, 304 homes sold.

In Melbourne, 586 results were captured and 464 homes sold.

Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent

Sydney had the most expensive sale among the capitals when 74 Cascade, St. Paddington sold through Phillips Pantzer Donnelley prior to auction for $4,675,000.

It was architecturally designed by Noekdesign and newly rebuilt by Huntsman Constructions.

Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent

The former three-bedroom, two-bathroom house had previously sold for $2.3 million. 

Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent

The 183 sqm block has been transformed into a luxury home with aged brass finishes, and Venetian plaster walls.  

There was also $4,510,000 pre-auction ocean-view sale at 10 Peronne Avenue, Clontarf through Stone Estate Agents. 

Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent

The four-bedroom, two-bathroom house was previously sold for $3,120,000 in 2009.

A six-bedroom, three-bathroom house at 25 South Street, Strathfield sold at auction for $4,420,000 through Richard Matthews. 

Sydney's most affordable auction was at 10/39 Bathurst, St. Liverpool which sold for $340,000 through RW Parramatta. 

Domain reported the highest residential sale in Melbourne was a four-bedroom, two-bathroom house at 50 Chaucer Street, St Kilda

The 399 sqm holding sold through Belle Property for $3,710,000. 

There had been a $2.7 million to $2.9 million price guide, with an opening bid of $3 million from the first of three bidders

Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent

Melbourne's cheapest auction sale at 8/182 Coppin, St. Richmond sold through Biggin & Scott Richmond for $290,500. 

The one-bedroom, one-bathroom apartment price guide had been between $265,000 and $290,000.

Brisbane's priciest listing at 19 Rosebery Street, Highgate Hill did not sell.

Brisbane's highest sale was 12 Clay Street. New Farm which sold through Ray White at $1,895,000.

Built in 1890, it last sold for 1,030,000 in 2014.

Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent

The five-bedroom, three-bathroom house is situated on 298 sqm of land.

Brisbane's most affordable house sale at 45 Grice Crescent, Ningi sold for $370,000 through Raine & Horne.

The three-bedroom, two-bathroom house sold at a loss with its last sale in 2013 for $413,900.

The shock sale of the weekend was when the garage at 32 Little Graham Street, Albert Park, belonging to a retired plumber, Frank Davis, fetched $645,500. 

It sold through Greg Hocking, whose price guide had been $365,000 to $400,000. 

The 90-year-old  paid $8000 for the property in 1984 for "storing my plumbing gear"

Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent

Some seven bidders battled for the 46 sqm real estate among a 100-plus crowd.

The buyers, Lola and Brenton Smith of Templestowe Lower, secured the property. 

Canberra's auction volume was down. 

However, Canberra recorded the strongest clearance rate of 90 per cent. 

The most expensive sale was 6 Welsh Place, Chifley, a four-bedroom, two-bathroom house which fetched $1,135,000 through McGrath Woden. 

It was last sold for $235,000 in 2002. 

Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent

Canberra's most affordable auction sale was a three-bedroom, one-bedroom house at 16 Sellwood Street, Holt.

Built around 1975, the 104 sqm residence sold for $496,000 through Luton Properties.

There were 14 registered bidders at an auction in Canberra for a large home at 16 Bussell Crescent, Cook which sold for $1.3 million to a local family.  

Ray White agent Troy Reddick noted the average number of bidders was rising "so we’re expecting to have a strong year.” 

Adelaide had the cheapest sale among the capitals with 12 Walpole Street, Davoren Park through Harcourts.

The 720 sqm land parcel sold at a loss for $117,000 at its mortgagee auction.

The three-bedroom, one-bathroom property last sold for $127,000 in 2005. 

There were 1,555 homes taken to auction across the combined capital cities this week.

It was 1,167 auctions were held last week, returning a revised clearance rate of 67 per cent, according to CoreLogic.

Over the same week last year, auction volumes were slightly lower with 1,450 homes going under the hammer across the combined capital cities, returning a final auction clearance rate of just 51 per cent.

 

 

 

 

Tags: 
Clearance Rate Weekend Auctions

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