Clearance rates soften slightly from last week, down eight percent from last year

Clearance rates soften slightly from last week, down eight percent from last year
Clearance rates soften slightly from last week, down eight percent from last year

weekend auction results saw the $110,000 sale of a deconsecrated church in central Victoria.

The property at 57 Stanley Street, Tarnagulla was the 1911-built St Francis Xavier's Catholic Church.

The imposing brick property - suitable for residential conversion or artist's studio - was auctioned by Maryborough Ballarat Real Estate, then the furniture contents got sold off.

Located 180 kms northwest of Melbourne, the former congregation, and auction attendees, was made up mostly of people from Tarnagulla, together with nearby Newbridge, Laanecoorie and Murphys Creek.

"Many in attendance, one bidder congratulations, an absolute bargain," selling agent Kate Ashton told her social media followers.

Back in Melbourne's east, it seems the sellers of a $9.01 million Hawthorn home were blessed with good fortune.

Their sale of a six-bedroom mansion on Scotch Hill topped weekend auction results (above and below).

With competition from five bidders, the home at 42 Berkeley Street was announced on the market at $8.675 million.

It came with tennis court and indoor pool.

Clearance rates soften slightly from last week, down eight percent from last year

It sold to a family from Carnegie, Marshall White agent Chris Barrett told The Herald Sun.

Buyers had been advised an $8 million to $8.8 million price guide on the house on 1400 sqm which last sold in 2010 at $6.05 million.

Sydney's top sale when a four bedroom Longueville house fetched $7.41 million.

The three level 65 Arabella Street non-habourfront property (below) with water and bridge views had the two bidders.

Clearance rates soften slightly from last week, down eight percent from last year

Mosman went close when $7.2 million was secured by the businessman Malcolm Coutts, former CEO of Ronald McDonald House, and wife Melissa.

Its price expectations were reportedly about $8 million for the Mandalong Road mansion auctioned through Richardson & Wrench Mosman agent Kirsty Freyer.

The nation's cheapest weekend result was a three bedroom townhouse south of Brisbane.

The 5/15 Lane Court Mount Warren Park property fetched $180,000, less than its last $290,000 sale price in 2010.

It was a mortgagee sale in a gated estate near Beenleigh.

CoreLogic reported national auction markets soften over the past week, recording a preliminary clearance rate of 65.9 per cent.

Click here to enlarge.

Clearance rates soften slightly from last week, down eight percent from last year

There were 2,980 homes taken to auction across the combined capital cities this week, while last week, 3,313 auctions were held and the final clearance rate came in at 66.8 per cent.

Over the same week last year, auction volumes were slightly lower with 2,907 homes going under the hammer across the combined capital cities, with the clearance rate was a stronger 74.6 per cent. 

"Units outperformed the house market this week with 67.6 per cent of units selling at auction, while 65.1 per cent of houses sold across the combined capital cities," Kevin Brogan, auction analyst at CoreLogic noted.

Brogan noted the greatest gap was in pricey Sydney, where 70.9 per cent of apartments sold compared with 64.7 per cent of houses.

There were 1,044 auctions held in Sydney over the past week returning a preliminary auction clearance rate of 66.9 per cent, compared to 65.1 per cent across 1,259 last week, and 76 per cent across 950 auctions one year ago. Of the 785 weekend offerings the tally sat at around 62 percent.

The Sydney region with the highest preliminary clearance rate was the eastern suburbs at 77 percent from 142 results. 

The Northern Beaches dropped back to 69 percent after two weeks above 80 percent.

Of the regions with more than 20 sales collected, the South West again returned the lowest preliminary clearance rate at 45 percent, Brogan noted. 

In Melbourne, Australia’s largest auction market, a preliminary auction clearance rate of 67.3 per cent was recorded across 1,523 auctions this week, down from 70.6 per cent across 1,606 auctions last week.

"One year ago, the clearance rate was a stronger 78.4 per cent across 1,459 auctions," Brogan advised.

In Melbourne, houses held the stronger market with 67.7 per cent finding buyers compared to a 66.5 per cent rate for apartments.

There was a $4.75 million Williamstown sale with waters views from its 970 sqm Esplanade position (below).

The home had a pre-auction price estimate of $3.8 million to $4.1 million. 

It was marketed as having subdivision redevelopment potential by selling agent Leigh Melbourne at Greg Hocking Elly Partners.

Canberra was the best performing capital in terms of clearance rate with a 70.8 per cent success rate.

Canberra's top sales included $2.1 million in Griffith (below).

The 4 Grant Crescent home was marketed as "beautiful Old Canberra home of charm and comfort."

Clearance rates soften slightly from last week, down eight percent from last year

Its land value was $1.1 million.

It features entry hall, spacious lounge with high battened ceilings, open fireplace, large functional kitchen, and sunny family room with wonderful garden outlook from its many windows. 

It had three good sized bedrooms and a study.

A modern townhouse at Kingston designed by the Sydney architects Marchese Partners fetched $2.8 million.

The three bedroom offering at 84 Dawes Street was built seven years ago.

Adelaide was next strongest weekend auction capital city at 68 percent.

A three bedroom brick house in Ottoway was Adelaide's cheapest sale.

The 88 May Terrace home, some 20 minutes north of the CBD, fetched $335,000.

There were just a handful of Tasmanian weekend auctions.

Sales included a Newstead three bedroom, two bathroom home for $406,500.

The 5 Barrington Court home on a 718 sqm block was built in 1966.

"It would have been a very special home in its time, with quality features including the original parquetry flooring throughout the entry, hallway, and formal living room," the Launceston selling agent Jo Oliver noted.

 

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Corelogic Weekend Auctions

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