Willie Mason doesn't sell, but June Sydney auctions on record streak

Willie Mason doesn't sell, but June Sydney auctions on record streak
Willie Mason doesn't sell, but June Sydney auctions on record streak

A new all-time June record for both listings and sales in Sydney is being set this month, following what Australian Property Monitors described as another "robust" result at the weekend.

High listing numbers continue with around 578 properties put under the hammer at the weekend which was 37% higher than the same June weekend last year.

With another 580 next weekend, June's volume will exceed 2,150 listings. There were fewer than 2,000 last June, which was a five weekend month.

However sales in Sydney’s home auction market has shifted "down a gear" over recent months with weekend clearance rates averaging 74% so far over June compared to the 77% averaged over both May and April, and the 82.3% averaged over March. 

Auction sales activity nonetheless remains at record levels for this time of the year which is likely to continue for the remainder of the usually quieter winter selling season as low interest rates, rising population and a thriving local economy continue to fuel the market, the Australian Property Monitors senior economist Dr Andrew Wilson.

Weekend sales included 46-52 Garfield Rd, Horsley Park which sold at around $2 million, a six bedroom home on 2.7 acres. Michael Marinakis at Ray White Green Valley described the property (pictured above) as resort style living. There have been three prior sales above $2 million of acreage homes, but they were between 2007 and 2011.

It was knocked down by the auctioneer, Rob Trovato, at Auction Services.

The best clearance rate over the weekend was in the northern beaches with a clearance rate of 88.5%. Sales results from the northern beaches at the weekend included a four bedroom home at 18 Handoub Parade, North Curl Curl which sold for $2.8 million. The extended three level 1940s house traded at $640,000 in 1988. The Ray White selling agents had been advising $2.7 million plus had been tipped.

The next best district was the city and east with 86%.

But Willie Mason, the Newcastle Knights forward, didn't sell his Clovelly investment pad at the weekend with three registered parties.

There were no bids for the two-bedroom designer semi opposite Clovelly Baths was passed in at Saturday’s auction through listing agent Daniel Gillespie from Belle Property Bondi Junction who was seeking $2.5 million plus for the house with with views of Wedding Cake Island. It was 2007 when the NRL player bought a home at Clovelly for $2.3 million.

The lower north shore had 83%, Canterbury Bankstown with 76.5%, then the upper north shore with 74.5%.

The inner west, where the boom began last year, was the weakest district with a weekend clearance rate of 74%.

The most expensive property reported sold at auction at the weekend was at the bedroom home at 210 Albert Road Strathfield sold for $3.8 million. But the out of area agents, Simeon Manners had been quoting $4 million plus for the house with tennis court and pool on 1,230 square metres which last traded at $2.54 million in 2006.

The most affordable NSW property reported sold at the weekend was a two bedroom home at 2/3-5 Canton Beach Road TOUKLEY sold for $270,000 by Raine and Horne Charmhaven. It sold at $165,000 in 1999. The agents were suggesting $260,000 plus in the final days before the auction.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.


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