Tiny spaces getting big prices at weekend auction

Tiny spaces getting big prices at weekend auction
Tiny spaces getting big prices at weekend auction

Tiny offerings were popular at weekend auctions with big prices outlaid. 

A New York-style studio pad in St Kilda, with compact vogue styling, fetched $346,000.

The chic studio at 18/33 Grey Street (top) had a $220,000 plus price guide with a $240,000 reserve.

The 46 sqm studio space has been a $290 a week rental.

It last sold at $140,000 in 2003.

In Sydney a one-bedroom harbour front apartment in Kirribilli sold for $1,875,000 (below).

Tiny spaces getting big prices at weekend auction

Listed for the first time in more than 50 years, the 60 sqm apartment, with sunroom, last sold for about £8000.

The 2/11 Waruda Street offering in The Venetian had a panorama encompassing the Harbour Bridge and Opera House.

There were 701 auctions held in Sydney returning a preliminary auction clearance rate of 55.8 per cent. 

Click here to enlarge.

Tiny spaces getting big prices at weekend auction

Sydney's highest sales included 50 Ellalong Road, Cremorne (below) which is reported to have sold for $4,125,000.  

The brick four bedroom 1930s Art Deco house on 720sqm has polished timber herringbone floors, high ceilings, large bay windows and ornate period lead light window.

Tiny spaces getting big prices at weekend auction

The highest preliminary clearance rate was recorded in Adelaide where 72.7 per cent of the 44 reported auctions were successful.

In Melbourne the Australian cricketer Peter Siddle sold his Parkville investment at weekend auction securing some $120,000 above his reserve.

The two-bedroom pad at 202/228 The Avenue came on the market with its first bid of $900,000.

Bidding swept past the reserve, with the second floor offering knocked down at $1 million to one of the two downsizer bidders (below). It sold to an owner occupier in her 50s.

Tiny spaces getting big prices at weekend auction

Siddle had lived in Arcadia, the Fender Katsalidis-designed apartment set on the fringe of the Royal Park Golf Course for four or five years after purchasing it in December 2008.

“We were training at the MCG back then," the bowler told the Sunday Herald Sun.

"The access to the airport and with all the parks around it’s a nice area to be in,” he said.

The Parkville apartment last sold for $575,000 in late 2008, reflecting six percent annual price growth. It features two bedrooms, two bathrooms and a large open-plan layout that flows to a balcony overlooking parkland.

The agent Lou Rendina had been quoting $800,000 to $880,000 for the flat that had been last available to rent when advertised at $560 a week in 2013.

Siddle and wife Anna Weatherlake are currently building in bayside Black Rock.

In nearby Hampton, the childhood home of Shane Warne was passed in at auction when offered for the second time in less than 18 months (below).

Tiny spaces getting big prices at weekend auction

The auction only saw vendor bids that topped out at $1.45 million for the three-bedroom house at 229 Thomas Street, Hampton.

The bungalow was bought as an investment for $1.55 million after it passed in at April auction last year. It has been rented since at $1000 a week. 

Nick Johnstone agent Alan McGillivray said an offer matching the vendor bid had been received, but no sale had yet been achieved.

Its price guidance was $1,350,000 to $1,485,000.

It’s where the spin king spent his first years before relocating with parents Keith and Brigitte in 1976, aged seven.

Melbourne was the busiest city for auctions, with 988 homes going under the hammer, returning a preliminary clearance rate of 58.7 per cent.

Kevin Brogan, the CoreLogic auction analyst noted over the same week last year, there were 1,129 auctions held in Melbourne, returning a clearance rate of 71 per cent.

National auction volumes increased significantly over the week with 1,991 homes taken to auction across the combined capital cities, up from just 904 last week when auction volumes were lower due to the Queen’s Birthday long weekend.

The preliminary national clearance rate was 56.9 per cent this week. 

Auction highlights this week

Saturday, 16 June 2018 
City  Location  Value Sold 

Most expensive

 
Sydney 36 Windsor St, Paddington NSW 2021, 4 br House, PPD $4,280,000
Melbourne 42 Mayston St, Hawthorn East VIC 3123, 4 br House, Marshall White Boroondara $3,200,000
Adelaide 10 Elderslie Av, Fitzroy SA 5082, 5 br House, Klemich Real Estate $1,426,000
Brisbane 282 Kent St, Teneriffe QLD 4005, 4 br House, Ray White Rural $2,125,000
Canberra 7A Elder St, Braddon ACT 2612, 4 br House, LJH Dickson $1,450,000

Most affordable

 
Sydney 11/56-58 Warialda St, Kogarah NSW 2217, 1 br Unit, ELD $490,000
Melbourne 907/18 Mt Alexander Rd, Travancore VIC 3032, 2 br Unit, Pagan $292,500
Adelaide 82A Clairville Rd, Campbelltown SA 5074, 3 br House, BP Adelaide $356,000
Brisbane 8 Margaret St, Rochedale South QLD 4123, 3 br House, R&H $440,000
Canberra 2 Dallachy Pl, Page ACT 2614, 2 br House, RW Canberra $425,000

 SOURCE DOMAIN

Tags: 
Kirribilli Weekend Auctions

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