Beachfront Middle Park terrace nation's top weekend sale

A beachfront esplanade terrace at Middle Park was the nation's top sale of a weekend auction listing at $5 million plus.

The Beaconsfield Parade terrace (above) - formerly owned by Collingwood player Nathan Buckley - sold shortly after being passed in without bid.

Its subsequent sale - at an undisclosed price - matched expectations held by Cayzer agent Michael Szulc for the three bedroom modernised terrace.

It was sold by Buckley for $3.6 million in 2007 when the now Collingwood coach and his wife Tania moved to their $3.93 million Toorak home.

It had traded at $1.38 million in 2001.

The weekend's big sale came Friday night when after three years of marketing $70 million was paid for the Double Bay harbourfront, Elaine.

After 126 years of ownership by the Fairfax media dynasty, it was bought by software tech billionaire Scott Farquhar.

The combined national capital city preliminary clearance rate bounced back to sit at 76.9 percent this weekend, increasing from last weekend, when final results saw the clearance rate fall to 69.8 percent after 10 consecutive weeks remaining in the mid-70 percent range.

The rebound in the preliminary clearance rate has occurred against a backdrop of higher auction volumes, with 2,347 properties taken to auction across the combined capital cities, up from last week’s 1,751, however lower than one year ago (2,675) given fewer auction offering in most of the capital cities.

Kevin Brogan, auction analyst at CoreLogic said the higher clearance rate and increase in volumes this week were attributable to stronger results across the two larger auction markets of Melbourne and Sydney, with performance across the remaining capitals remaining varied over the week.

Across Melbourne, 79.9 percent of the 1,087 reported auctions sold.

There were 1,232 auctions held, rising from 828 last weekend when the final auction clearance rate was 75.2 percent.

The inner region of Melbourne had a preliminary clearance rate of 75.1 percent with the strongest results at the North East region and North West region, with 88.4 percent and 82.9 percent of auctions clearing respectively. 

The four-bedroom Acland Street semi (above) sold for an undisclosed sum between its $1.9 million to $2.09 million price guidance through Whitefox agent Brad Ward.

It traded at $1.55 million in 2013 when bought by the couple who are spending the majority of their time in Warrnambool.

Jennings has sold more than 8.9 million books, including The Cabbage Patch Fib while Fahey is best known for her The Comedy Company character Kylie Mole.

The retired North Melbourne defender Michael Firrito and wife Bonnie, who are upsizing, sold in Ascot Vale.

The four bedroom Kent Street semi (above) fetched $1,316,500 through AlexKarbon agent Charles Bongiovanni who advised The Herald Sun that the reserve was about $1.28 million. It was bought in 2011 at $760,000.

In Sydney, 804 properties were taken to auction with a preliminary clearance rate of 78.4 percent, increasing from last weekend when the final clearance rate for the city was 72.4 percent, across 596 auctions.

One year ago, 818 Sydney homes were taken to auction and the clearance rate was 71.7 percent. 

A Strathfield offering saw the inner west suburb top the Sydney auction results for consecutive weekends. The $4.75 million Newton Road Strathfield sale (above) was just six kms away from Sydney's cheapest, when an Ashfield studio apartment (below) sold pre-auction at $295,000. The $305 a week Ashfield rental last sold in 1995 at $65,000.

The eastern suburbs region, where 40 results have been reported so far, saw a 75 percent preliminary clearance rate.

The strongest regions were the Inner South West at 88 percent and Baulkham Hills and Hawkesbury at 84.2 percent. 

Brisbane was host to 124 auctions this week and so far 87 results have been reported, with 56.3 percent sold. A $990,000 sale was its top reported result when a three bedroom Coorparoo house sold. There were many prices withheld from publication.

The $990,000 top sale was a bungalow (above) last sold in 1949.

Last weekend, Brisbane auction volumes across the city were higher with 134 auctions held across the city and a 44.3 percent clearance rate recorded. 

This week, Adelaide saw a preliminary clearance rate of 65.4 percent, with 52 reported results across a total of 82 scheduled auctions. Over the previous week Adelaide’s clearance rate was 58.2 percent and 61 percent one year ago. 

Adelaide has the nation's cheapest result when a three bedroom 1970s Andrew Avenue, Salisbury East brick home (above) sold for $253,000. It last sold at $80,000 in 1995. The price guidance had been $210,000 plus through Harcourts Brock Williams.

In Perth, 33 auctions took place, with Perth’s preliminary clearance rate of 53.8 percent across the 13 reported results. 

Canberra’s preliminary auction clearance rate of 67.9 percent was lower than the 69.4 percent recorded last weekend. Evatt was the busiest suburb with three results including a $490,000 three bedroom 1995 townhouse (above) which last sold at $392,500 in 2011.

Tasmania saw 10 auctions take place and with nine results have been reported so far, there have been six sales.