Still in the 80s, but Sydney auction success rate in decline as winter approaches
The Sydney weekend auction market weakened a tad on Saturday from its record-breaking run of the past few months.
There was a preliminary 84.2% auction success rate today, the second last week of the Autumn selling season.
The peak was the all-time record clearance rate of 89.2% on May 9. It eased to a preliminary 84.4% result last weekend, May 16.
But the May 16 result was revised down to 81%, suggesting it won't be long before heading back into the still strong 70s.
Dr Andrew Wilson, senior economist for the Domain Group, noted the 84.2% preliminary result today was "strong but again below record levels of past month."
Despite the slight overall weakening, auctioneers reported suburbs of intensity.
"Property market has been red hot today," auctioneer Damien Cooley tweeted. His brother Andrew tweeted the #South#market is flying today! Everything selling #overreserve - buyers everywhere!!
This weekend Sydney was scheduled to host over 750 auctions, well ahead of the 556 auctioned last weekend but below the 809 auctioned over the same weekend last year.
CoreLogic RP Data reported the overall clearance rate over the entire week increased in Sydney to 86.9 per cent, based on preliminary results to May 24, signifying that Sydney’s clearance rate of 85.0 per cent last week was a "brief dip," after the four previous weeks where Sydney’s clearance rate was recorded above the 87 per cent mark.
Most expensive | |||
| Sydney | 9 King Av, Balgowlah NSW 2093, 5 br House, Max Walls International | $6,000,000 | |
| Melbourne | 46 Canberra Gr, Brighton East VIC 3187, 4 br House, Hocking Stuart Brighton | $4,010,000 | |
| Adelaide | 41 Grandview Gr, Toorak Gardens SA 5065, 5 br House, Klemich Real Estate Henley Beach | $1,320,000 | |
| Brisbane | 15 Abercrombie St, Newstead QLD 4006, 3 br House, RW - New Farm | $2,675,000 | |
| Canberra | 57 MacAlister Cr, Curtin ACT 2605, 5 br House, Peter Blackshaw Real Estate Woden & | $1,342,500 | |
Most affordable | |||
| Sydney | 13/107 Broughton St, Campbelltown NSW 2560, 3 br Townhouse, R&W Campbelltown | $310,000 | |
| Melbourne | 3/117 Anderson Rd, Albion VIC 3020, 1 br Unit, Douglas Kay Sunshine | $146,500 | |
| Adelaide | 144 Wills St, Peterhead SA 5016, 2 br House, LJH West Lakes | $250,000 | |
| Brisbane | 15 Woodburn St, Marsden QLD 4132, 3 br House, PRD Marsden | $275,500 | |
| Canberra | 99 Florey Dr, MacGregor ACT 2615, 3 br House, LJH Belconnen | $385,000 | |
Source APM
Sydney’s south hosted the most number of auctions with 121 listing.
The upper north shore followed with 106, the inner west 100, the city and east 79, the lower north 66, south west 60, the north west 54, the west 53, the northern beaches 47, Canterbury Bankstown 39, central coast 18 and the Blue Mountains with 1 auction scheduled this weekend.
Randwick and Mosman were the most popular suburbs for auctions with 11 auctions each including 6 Dick Street, Randwick where Damien Cooley secured a $3.55 million sale through BHR Bickmore-Hutt Realty, a trophy family home for sale for the first time in 39 years. The three-bedroom house at 6 Dick Street had a reserve price of $3.25 million and five registered bidders. Cooley Auctions also secured the sale of 8 Coogee Street, Randwick at $1.85 million and 72 Canberra Street, Randwick at $1.69 million.
Strathfield foliowed with 10, including 25 Arthur Street (below) which fetched $1,783,000.
It sold with 11 registrations, auctioneer Ricky Briggs advised.
It was a 2.85 metre wide terrace on Terry Street, Surry Hills.
It has been billed as possibly Sydney's skinniest terrace, located near Central Station between Foveaux Street and Kippax Street.
The Spencer & Servi sale was of a two bedroom, one bathroom, two storey terrace on a 38 square metre block.
The weekend auctions resulted in a $1,273,000 median house price sale, which was reflected in a sale by Auctions Services auctioneer Rob Trovato at 10 Blackburn Street, North Rocks which fetched $1.271 million through (below) NNW Property.
NNW Property has had 10 Hermington Street, Epping sell at $1.1 million, some $70,000 over reserve with 17 registered bidders, 11 of whom took part.
Some 60 plus bids were recorded by Rocky Bartolotto, auctioneer at Auction Services.