Fairlight penthouse tops Sydney weekend auction results

Fairlight penthouse tops Sydney weekend auction results
Fairlight penthouse tops Sydney weekend auction results

There were 669 auctions held in Sydney returning a preliminary auction clearance rate of 60.8 per cent, according to CoreLogic,compared to 57.5 per cent across 787 last week, and 74 per cent across 1,075 auctions one year ago.

Sydney's top sale was $4.86 million in Fairlight. The 58/1 Lauderdale Avenue apartment offering (above) through Stone Real Estate agent Adam Moore was for the first time since construction three decades ago.

The four bedroom, four bathroom penthouse came with 436 sqm space. The price guide for the harbourfont home was $4 million to $4.4 million.

It last sold at $735,000 in 1987.

There were 2,089 homes taken to auction nationally across the combined capital cities, returning a preliminary auction clearance rate of 60.3 per cent.

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Fairlight penthouse tops Sydney weekend auction results

Last week, 2,279 auctions were held and the final clearance rate dropped to 58.2 per cent, the lowest clearance rate seen since December 2015.

Over the same week last year, auction volumes were higher with 2,824 homes going under the hammer across the combined capital cities, returning a clearance rate of 73.1 per cent.

In Melbourne, Australia’s largest auctionmarket, a preliminary auction clearance rate of 64.2 per cent was recorded across 1,028 auctions this weekend, up from 59.8 per cent across 1,099 auctions last week, the lowest clearance rate the city has seen since Easter 2014.

One year ago, the clearance rate was a stronger 77.9 per cent across 1,326 auctions..

Melbourne's top sale was in Malvern East.

Kilburn, the five bedroom, four bathroom home on 920 sqm at 56 Kerferd Street (below), fetched $6.11 million through Thomson agent John Chartres.

Fairlight penthouse tops Sydney weekend auction results

It was marketed as showcasing "a remarkable sense of refined luxury throughout three brilliantly conceived levels."

Its price guidance was $5.5 million to $6.05 million, with it announced on the market at $6.025 million.

There were two bidders.

It last sold in 2003 at $1,375,000.

Melbourne's cheapest sale was a retirement villa at Frankston. The 10/4-6 Foot Street offering (below) fetched $288,000. There had been $275,000 to $300,000 price guidance on the late 1990s two bedroom single storey unit. It last sold at $169,000 in 2007.

Fairlight penthouse tops Sydney weekend auction results

Across the smaller auction markets, preliminary results show that Canberra was again the best performing with a 66.2 per cent success rate across 79 auctions.

Its top seller was at Red Hill where $1.58 million was paid for 3 Golden Grove, an early 1960s four bedroom, two bathroom brick home. It was offered for the first time in over 50 years.

The nation's cheapest auction result was $273,000 through Ray White for 17 Ashvale Street, Kingston, a three bedroom Brisbane home needing a renovation situated on a flat 607 sqm parcel.

It last sold at $259,000 in 2016 and at $230,000 in 2013.

Brisbane's top sale was at Paddington. It was an unrenovated 1912 Queenslander on 1000 sqm that sold through Place agent Andrew Degn who the Courier Mail advised had eight buyers register to bid on 77 Tooth Avenue, Paddington. It sold for $1.92 million, having been in the family for over 100 years. 

There was also a newly renovated 1930s Queenslander at 25 Runic Street that fetched $1.75 million through Degn.

It last traded at $625,000 in 2011.

There was a $2.6 million sale at Hollywell on the Gold Coast when a deceased estate went to auction.

"This property was handpicked from the initial subdivision plans 40 years ago," the marketing for 2 Sapphire Street advised.

It came with 1058 sqm Broadwater frontage.

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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Clearance Rate Auction Market

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