Strathfield tops weekend results with $6.8 million sale

Strathfield tops weekend results with $6.8 million sale
Strathfield tops weekend results with $6.8 million sale

Sydney's Saturday auction colosseum, Strathfield again produced the nation's top seller.

It was a $6.8 million Tudor style four bedroom home (above) on 2000 sqm with tennis court and pool.

The home had last traded at $3.35 million in 2008. It took the sales tally from 12 offerings along Newton Road to $45 million plus since early 2015.

Sydney had around 650 weekend auctions, with a preliminary clearance rate of 86 per cent, representing a significant rise from last week’s 78 percent, and again higher than one year ago when it was 76 percent. 

"The preliminary clearance rate is the highest Sydney has reported since the first week in June 2015 of 88 percent," CoreLogic's Kevin Brogan advised. 

There were 930 auctions held in Sydney one year ago.

Some 1,747 capital city auctions were held and preliminary results reflected a national 76 percent success rate, rising from the 75 percent the prior week across 1,471 auctions.

Auction volumes remain significantly lower, as one year ago CoreLogic tallied 2,248 homes taken to auction across the combined capitals.

Melbourne also maintain its place as the second strongest performing city. 

This week there were 785 auctions in Melbourne, up from 605 last week, and still below the auction activity recorded at the same time last year with 964 offrings.

The weekend’s 76 percent clearance rate is higher than one year ago, when 74.3 percent of reported results were successful.

Melbourne’s strongest performing sub-region was the outer East, with an 83 percent success across 49 auction results.

Kew had Melbourne's top sale when six bidders competed for 83 Mount Street (below) which fetched $3.66 million.

Strathfield tops weekend results with .8 million sale

It was a finalist by Englehart Homes in the 1996 Housing Industry Association awards.

Another Kew offering at 61 Molesworth Street passed in at $3.65 million with no bidders. 

Melbourne had the nation's cheapest auction when a one bedroom apartment fetched $185,000 at 10/117 Anderson Road, Albion through hockingstuart Point Cook. It last sold at $177,000 in 2012 when it was rented at $180 a week. It's last rental asking price was $210 in 2014. 

Strathfield tops weekend results with .8 million sale

There were 124 Brisbane auctions held, jumping from 87 last week, but not quite reaching the same 143 offerings last year.

Brisbane prices ranged from $299,000 at Forest Lake to $1,514,500 million at Corinda for a renovated 1920s Queenslander (below).

Strathfield tops weekend results with .8 million sale

Brisbane agents secured a 56 percent success compared to a one year ago at 54 per cent.

With 93 offerings, Adelaide’s clearance rate this week was 66 percent, falling from 68 percent, and lower than one year ago when it was 72 percent.

There were 44 auctions held in Canberra with its 72 percent clearance rate up from 59.6 per cent last week and higher than the 71 percent one year ago.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Auctions Residential Sales


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