Dan and Dani from The Block miss the spring Super Saturday sales surge

Dan and Dani from The Block miss the spring Super Saturday sales surge
Dan and Dani from The Block miss the spring Super Saturday sales surge

The 2016 spring auction market finished with continued strength despite the late spike in property listings. 

There were 500 more weekend auctions across Sydney and Melbourne, which accompanied by early signs of rising fixed interest rates, did little to dent buyer enthusiasm.

Sydney's preliminary auction clearance rate of 81.9 per cent was up on the prior weekend's 79.6 percent while Melbourne's 76.9 percent rate was slightly down from the prior 79.4 percent rate, according to Corelogic.

The Seddon transformation of celebrity renovation couple - Dan and Danu from The Block - failed to sell (below).

Dan and Dani from The Block miss the spring Super Saturday sales surge

The Block regulars Dan Reilly and Dani Wales restored and extended the property at 3 Sydenham St over a two year period.

The three-bedroom property was passed in at $1.26 million. 

There had been a price guide of $1.1 million plus on the now three bedroom home that was previously an untouched Victorian. 

The couple paid $462,000 for the home after filming concluded for The Block All Stars season in mid-2013.  

Their renovation, including updating the Victorian facade, has come at a cost of around $400,000. 

Sydney's auction success rate stayed high on the final spring weekend. 

Sales ranged from $337,000 at Guildford for a one bedroom flat that had been marketed as set to fetch $350,000.

The dearest was a $5,505,000 Cronulla beachfront sale (below) where two of the three registered bidders competed through agent Mark Wigley.

Dan and Dani from The Block miss the spring Super Saturday sales surge

It was the former abode of the former sports promoter and administrator Kevin Elphick who paid $4 million in 2013 for the Taloombi Street home.

Melbourne's dearest was in Elwood where a contemporary house sold for $4.75 million. 

Dan and Dani from The Block miss the spring Super Saturday sales surge

The four bedroom 14 Kingsley Street home sat in Jack Merlo gardens. 

Auction volumes increased with 3,367 properties taken to auction this week - the second highest number of reported auctions this year for the combined capital cities.

It was up from 2,987 over the previous week, according to CoreLogic, who noted the volume was still significantly lower than the corresponding week last year's 3,729 offerings. 

The preliminary auction clearance rate, despite the increase in volume, remained strong at 76 per cent, up from last week’s final of 74 per cent. 

The same final weekend of spring last year saw a 60 percent success rate. 

"Every capital city except Perth and Canberra are showing auction numbers to be lower than a year ago, while every capital has recorded a higher clearance rate compared with last year," Kevin Brogan from CoreLogic said.

Across Melbourne, the preliminary clearance rate was recorded at 76.9 percent, down on last week but remaining well above the 65.9 percent last year.

Melbourne was host to 1,618 auctions, which was the second highest reported for Melbourne this year, but lower than a year ago when there were 1,876 Melbourne auctions held. 

Across Sydney, 1,236 homes were taken to auction this week with a preliminary clearance rate of 81.9 percent. One year ago, 1,306 Sydney homes were taken to auction and the clearance rate was 56 percent. 

Across Sydney's Inner West region, the preliminary clearance rate was 90 percent, while across the South West had just 59 percent successfully sold.  

Brisbane's preliminary clearance rate was 53 percent, up from 45 percent last week and also higher than one year ago, when it was 47 percent.

A total of 140 Adelaide homes were taken to auction, with a preliminary clearance rate of 66 percent.

Perth’s preliminary clearance rate of 36 percent sits around the same as one year ago.

Canberra’s clearance rate was 72 percent this week across 112 auctions which included a new suburb record for Kaleen when 45 Onkaparinga Crescent (below) fetched $1,045,000, topping the previous record of $935,000 at 12 Sanford Place last December. 

Dan and Dani from The Block miss the spring Super Saturday sales surge

The weekend sale was a five bedroom, two storey house on a 1637 sq m block. 

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.

Tags: 
Auction Residential Sales

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