Winter auction success rates finish on a high

Winter auction success rates finish on a high
Winter auction success rates finish on a high

Three Melbourne sports stars secured weekend property sales as winter auction success rates finished on a high. 

Test cricketer Peter Siddle and fiance Anna Weatherlake’s four-bedroom home at Ormond sold for $2.05 million after auction (above).

Their renovated California bungalow, which was passed in at $2.02 million, sold to a New Zealand family moving to Melbourne.

They celebrated their success on social media, advising they now have a bayside suburb building project.

The Olympic sailing gold medallist Mark Turnbull secured a $2.2 million post-auction sale of his Gardenvale family home to a couple from Richmond (below).

Winter auction success rates finish on a high

And the axed North Melbourne midfielder Nick Dal Santo and wife, Julie secured $704,000 for an Elwood investment property (below). 

Winter auction success rates finish on a high

There were four bidders for the two-bedroom apartment at 28/125 Ormond Rd which had a $700,000 reserve. It cost $510,000 in 2008.

Some 2,113 auctions were held across Australia’s capital cities on the last weekend of winter, a rise on the prior 1,795 weekend offerings, but still lower than the 2,654 auctions held at the same time last year. 

The national auction clearance rate was 76 percent this week, higher than last week’s result of 75 percent.

Representing another year-to-date high for the combined capitals, CoreLogic noted late last winter the auction clearance rate was recorded at 73 percent.

"Over winter 2016, clearance rates have ranged from a low of 65 percent to a high of 76 percent, compared to last winter where the weekly clearance rate remained above 70 percent each week for the entire winter season, peaking at 78.5 percent at the start of June," Kevin Brogan at CoreLogic said.

The top sale across the nation was in Cremorne Point, with a home overlooking Sydney Harbour fetching $6.4 million, some $500,000 over reserve (below).

Winter auction success rates finish on a high

It was an 1895 home on 600 sqm at 23 Cremorne Road that was sold through Belle Property.

Melbourne had a $6.205 million sale in Deepdene where price guidance had been $4 million to $4.5 million for an 1890s home, Kesteven.

Winter auction success rates finish on a high

The slate roofed, single storey home was called on the market at $4.9 million, according to the James Buyer Advocates, with bidding then from six interested buyers taking it $1.3 million higher. The five bedroom home on 1300 sqm had sold at $1.83 million in 2004.

In Malvern, bidding stopped at $5.75 million with an undisclosed sale subsequently of 52 Elizabeth Street which was expected to sell for about $6 million.

Melbourne’s preliminary clearance rate was 79 per cent, compared to 75 per cent last week and 76 per cent at the same time last year.

There were 1,046 Melbourne homes taken to auction, up on last weekend's 789, yet still tracking lower than at the same time last year when 1,188 went to auction.

Melbourne's most affordable property reported sold at the weekend was a one-bedroom unit at 3/106 Ascot Vale Road, Flemington sold for $240,000.

Winter auction success rates finish on a high

The apartment, recently available at $250 a week rental, had last sold at $49,000 in 1988.

Sydney's preliminary clearance rate was 81 per cent, representing an easing from last week’s 84 per cent, which was the strongest final auction clearance rate Sydney has reported for the year so far.

In Sydney 762 auctions were held, compared to 687 last week and 1,106 one year ago.

Domain had the northern beaches of Sydney as the top performer with a 91.9 per cent success rate. 

This week Brisbane was host to 127 auctions, with a preliminary clearance rate of 47 per cent. This week’s volume of auctions represents a rise from last week’s 125 auctions, but lower than the 169 auctions held one year ago. At the same time last year, Brisbane’s clearance rate was 54 per cent.

The nation's cheapest weekend auction result was on Brisbane's outskirts at Ipswich when 7 Rex Street, Eastern Heights fetched $230,000.

Winter auction success rates finish on a high

The three bedroom house sold pre-auction.

There were 82 auctions held in Adelaide, compared to 97 last week and 102 at the same time last year. The preliminary clearance rate for the city this week was 68 percent, up from 62 percent last week and 58 percent one year ago.

"Adelaide’s preliminary clearance has remained above the 60 percent mark since the final week of July," Kevin Brogan said.

Adelaide prices ranged from $320,000 at Banksia Park to $980,000 at Colonial Light Gardens.

Perth’s preliminary clearance rate was 21 percent this week, compared to 20 percent last week and 45 percent one year ago.

Corelogic has 52 auction results for Canberra, with a preliminary clearance rate of 75 percent, higher than the 66 percent clearance rate last week. At the same time last year Canberra recorded a clearance rate of 69 percent

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.

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Auctions Clearance Rate

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