Tasmania secures cheapest weekend auction result

Tasmania secures cheapest weekend auction result
Tasmania secures cheapest weekend auction result

Tasmania, which garnered international attention last week when Hobart appeared on the latest Knight Frank global list of the top 50 cities with strongest price growth, secured the nation's cheapest weekend auction result.

It was when $140,000 was paid for a three bedroom weatherboard home at Montello, the north coast Burnie suburb (below).

Tasmania secures cheapest weekend auction result

It was snapped up pre-auction, one of the state's 10 weekend auction listings.

Tasmania secures cheapest weekend auction result

"There was the ability to glimpse Bass Strait from the front rooms of this wonderful property," the Harcourts marketing of 25 Morse Street advised.

Tasmania secures cheapest weekend auction result

Five of the eight known Tasmanian results found buyers, topped by a $500,000 sale at Howrah in Hobart (below).

Tasmania secures cheapest weekend auction result

It was marketed as a "weathered, but charming three bedroom home that captures picturesque views of the River Derwent and Mount Wellington."

Hobart was the newcomer on the Knight Frank list of the top 50 cities whose property prices have risen the most in the world, leaping to 34th spot, only 11 places behind Sydney and 10 behind Melbourne, after its annual price growth of 11.3 per cent. 

On the mainland, after more than 100 groups through, the former AFL ruckman Angus Graham scored a $202,000 over reserve result when his Yarraville townhouse sold at weekend auction.

The three-bedroom timber inner west of Melbourne property (below) was sold for $1.152 million to a local family by the former Richmond and Adelaide player.

Tasmania secures cheapest weekend auction result

The final two of the four bidders went toe-to-toe from $1 million, the Herald Sun reported.

The HockingStuart agency had been quoting $900,000 to $950,000. The strata townhouse last sold for $663,000 seven years ago to the carpenter.

Across Melbourne, there was a 73.9 per cent success rate of the 716 reported auctions. It was the nation's highest capital city clearance rate with one in six sold before the scheduled auction.

There were 812 properties taken to auction across Melbourne, down from 874 last week when the final clearance rate was recorded at 70.8 per cent.

Over the same week last year, 619 auctions were held and a clearance rate of 71.8 per cent was recorded.

The nation's top sale was in Sydney when a three bedroom McMahons Point terrace that sold for $4.05 million through through Stone agents Annika Bongiorno and Aaron Bongiorno.

Located at 2/12 Commodore Street, (below) the lower North Shore offering had views of Sydney Harbour.

Tasmania secures cheapest weekend auction result

Built in 2005, it was last sold in 2011 for $1.648 million. The lower north reported the highest clearance rate at the weekend, with a booming 81.3 per cent result, Domain noted.

Domain figures showed an overall Sydney clearance rate of 71.5 per cent on Saturday, up from 69.7 percent the week before.

The bounceback in clearance rates was also apparent in CoreLogic data that noted Sydney was host to 650 auctions this week with a 72.5 per cent success rate, rising from 68 per cent last week across 840 auctions.

The national auction clearance rate sat at 70.7 percent, up from 67.3 per cent last week, while winter bauction volumes fell week-on-week.

There were 1,751 properties taken to auction this week, down from 2,001 last week, although higher than this time last year, when 1,399 auctions were held and a clearance rate of 70.6 per cent was recorded.

Almost all the capital cities saw the clearance rate increase week-on-week, CoreLogic auction analyst Kevin Brogan noted.

Adelaide however saw a decline to a 56.1 per cent preliminary result across 61 auctions, down on the prior weekend's 80 auctions which returned a clearance rate of 60.6 per cent.

The top sale in Adelaide was a four bedroom Linden Park house that sold for $1.12 million.

Located at 26 Sturdee Street, the 841 sqm corner four bedroom property has been marketed as a rare investment opportunity.

Tasmania secures cheapest weekend auction result

The 1954 property, last sold in 2009 for $655,000, is leased to tenants until January 2018.

The nation's cheapest mainland auction result was outside of Brisbane where a four bedroom Beaudesert house was sold for $275,000.

Located at 52 Meridian Way, (below) the property sold at under the median price of a house in Beaudesert which is $320,000.

Tasmania secures cheapest weekend auction result

The preliminary clearance rate in Brisbane on the weekend rose to 57.7 per cent, up from 51.6 per cent.

Brisbane auction volumes were only slightly lower with 112 auctions held, down from 118 last week.

The Domain chief economist Andrew Wilson suggested the extra strength in the national auction market was probably the result of first home buyer activity after the introduction of greater grants and concessions.

"It is going to take a few weeks to know but I think the first home buyer activity is making a difference. There is definitely a bounce back," Mr Wilson told Domain.

"We probably would have expected the clearance rate to fall otherwise."

But Sydney's cheapest sale was to an investor through Laing+Simmons agency that secured a $410,000 sale of a 1970s unit at 45/127 Chapel Road, Bankstown (below).

Tasmania secures cheapest weekend auction result

The marketing offered a $390,000 price guidance for the two bedder that last sold at $27,500 in 1978.

Melbourne's cheapest result was when a two bedroom house at Melton South fetched $280,500.

Located at 1/33 Staughton Street, (below) the 1990s property was last sold in 2001 for $85,000.

Tasmania secures cheapest weekend auction result

Melbourne's dearest result was in Albert Park, where eight bidders vied for a large unrenovated Victorian home.

Last sold seven decades ago ago, the 320 sqm holding at 16 Greig Street (below) sold to a local family for $3,560,000 through Greg Hocking Real Estate, well above its $3 million reserve.

Tasmania secures cheapest weekend auction result

Across Canberra, 65 homes were taken to weekend auction with the preliminary results showing a clearance rate of 63 per cent, down from 71.4 per cent the previous week.

A four bedroom Hughes, ACT house sold for $1.701 million making it Canberra’s most expensive weekend auction sale.

Located at 38 Lynch Street, (below) it had last sold in 2012 for $1.38 million. 

Tasmania secures cheapest weekend auction result 

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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Tasmania Residential Sales

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