Chinese buyers secure top weekend auction offering

Chinese buyers secure top weekend auction offering
Chinese buyers secure top weekend auction offering

The nation's top sale was on Sydney's upper North Shore when a Pymble home was snapped up pre-auction for $6.5 million.

It sold to a family from China who saw the property just three days before they exchanged.

Menton, marketed as a French Provincial-style oasis, came with saltwater pool, N/S tennis court, and a climate controlled 2,100 bottle wine cellar.

The 1726 sqm property (above and below) last traded at $2.8 million in 2002.

The vendors decided to take the offer, which was at the high end of their expected range rather than go to auction.

"It's a 'bird in the hand' at the moment," the upper North Shore selling agent told Fairfax Media.

Chinese buyers secure top weekend auction offering

Sydney also saw the sale of 23 Lyndhurst Crescent, Hunters Hill, a five bedroom riverfront home which sold for $6.18 million.

But its sale was at below the $6.2 million price guidance. It was even further down on the $7.6 million guide figure given last October, when it was initially listed for sale.

It sold to cake makers from Greenacre, one of the three who participated in Saturday’s auction after six had registered, The Sunday Telegraph reported.

Sydney's preliminary success rate sat at 67 percent. 

Sydney's result from 775 auctions saw a steady 67 percent clearance rate on the prior weekend, but down on the 77 percent at this time last year.
 
The nation's strongest clearance rate was in Melbourne, according to CoreLogic, at 69 percent.
 
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Chinese buyers secure top weekend auction offering

Melbourne had some 720 homes listings, increasing on last week’s 65.5 per cent final clearance rate when there was a much lower 152 auctions held given the Easter break.

The auction of dual premiership player Thorold Merrett’s Doncaster East home saw a $1.12 million result.

Philip Webb auctioneer Anthony Webb said local downsizers secured the single-level three-bedroom townhouse

Merrett, a two-time premiership player in the 1950s, told the Herald Sun he would miss the neighbourhood.

The agency had been quoting $900,000 to $990,000, with six bidders taking the price well beyond.

CoreLogic records indicated it last sold in 2007 at $575,000.

Melbourne's top sale was in Williamstown.

The three bedroom house at 218 Osborne St, Williamstown fetched $3.02 million.

Corinda, set in South Williamstown, had been listed with $2.7 million to $2.8 million price guidance.

The nation's cheapest auction was at 8/54 Martin Street, Thornbury for $335,000. The Melbourne sale fell within the price guidance range of $315,000 to $340,000 for the one bedroom 1970s apartment.

CoreLogic put its last sale price as $249,500 in 2002.

The Canberra clearance rate fell to just 59 percent, which was the nation's third strongest success rate with 88 homes listed.

A 1960s Griffith home on one of Canberra’s prestigious streets, constructed of stone, brickwork and Australian timbers, fetched its highest price.

The 26 Jansz Crescent offering fetched $1.641 million, with Domain noting it was announced on the market at $1.610 million.

Held by the same family for 57 years, the four-bedroom, one-bathroom home on 1106 sq m had eight registered bidders.
 
The official land value was $953,000.
 
Adelaide also recorded a success rate of 59 percent from 93 homes listed.
 
The Brisbane market had a 40 per cent clearance rate from the 91 homes listed for auction. 
 
A Georgian-style home at Chelmer sold under the hammer, fetching $1,675,000 through Brad Robson of Place Real Estate.
 
The five bedroom property at 2 Morley Street sold to an upsizing local couple.
 
A newly built four bedroom Camp Hill home was among Brisbane's top sales at $1.05 million.
 
At Carindale a $1.35 million offer for a three-storey, four bedroom home at 45 Nelson Place was not enough to secure a sale, with the auction ending on a $1.5 million vendor bid.

The home was the project of Steve Stamatiou, a builder at Mati Constructions, and his wife Andrea, with the Courier Mail reporting they built the home over seven months in the French provincial architecture style. 

The 518 sqm building block had cost $535,000 in 2016.

It came with a four-metre-long ‘White Princess’ Granite breakfast bar, full suite of European appliances and a butler’s pantry so large that it almost doubles as a second kitchen, the marketing by Place agent Denis Najzar said.

After the Easter slowdown, the national preliminary clearance rate rose along with higher volume of auctions with 1,813 homes taken to market returning a 65.3 per cent success rate.
 
The higher activity followed the Easter period slowdown which saw only 670 auctions held across the capitals and a 64.8 per cent final auction clearance rate.
 
Overall results by property type, saw 70 per cent of units selling at auction this week, which was higher than houses which returned a 63.4 per cent clearance rate.
Tags: 
Auctions Chinese Buyers

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