Melbourne auction weakness remains while Brisbane comes up the cheapest

Melbourne auction weakness remains while Brisbane comes up the cheapest
Melbourne auction weakness remains while Brisbane comes up the cheapest

Melbourne's preliminary weekend clearance rate was 44.1 per cent after 197 reported price results from the 483 scheduled auctions.

The tally included some 193 withdrawn from auction, Domain reported.

It was the second July weekend with the rate in the 40s after the return to lockdown across the capital city. 

There were 85 reported online Melbourne auctions, with 60 selling, which was the highest recorded success rate for online to date, Domain research analyst Nicola Powell advised.

Melbourne's top sale was 45 Walpole Street, Kew (pictured) which fetched $4.21 million prior to its scheduled online auction.

Melbourne also saw a $3.67 million St Kilda West home.

The four-bedroom, two-bathroom house at 8 York Street was announced on the market at $3.5 million, by the Marshall White Stonnington agent John Bongiorno.

Sydney's preliminary clearance rate on Saturday was 64.6 per cent, after 471 scheduled auctions and 270 reported results. The rate included 77 withdrawn auctions.

The nation's cheapest was the $300,088 pre-auction sale at 15/38 Barrett St, Robertson. It had last sold from $80,000 in 1983.

Brisbane's top sale was just over $1 million when 43 Saint Helens Rd, Mitchelton was sold at $1.09 million.

Sydney’s highest sale was a four-bedroom, four-bathroom home in Vaucluse, on the market for the first time in 65-years.

It sold for $5,695,000 through Sydney Sotheby’s agent Michael Pallier.

There were five registered bidders for 61 Village High Road.

‘The buyer was a local but what drove the price was an expat in Singapore who had never seen the house and had a family member bidding for them. The third bidder, who bid up to $5.5 million, wanted to buy it for his 18-year-old daughter as a long-term hold. He looked at it an hour before the auction.," Pallier told Nine Entertainment.

Canberra had the country’s highest preliminary clearance rate of 90.6 per cent – reflecting the sale of 29 out of 32 reported auctions by CoreLogic.

 

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Melbourne Brisbane

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