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).

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

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

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

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.

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.

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.

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.

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.