Capital city buyers take a break from auctions on long weekend

Capital city buyers take a break from auctions on long weekend
Capital city buyers take a break from auctions on long weekend

Capital city buyers took a break from auctions on the long weekend, accompanied by a significant drop in auction listings.

But coastal offerings were much appreciated by buyers seeking cheaper dress circle opportunities.

There was a $726,000 auction sale at Wooloweyah near Yamba (above) in northern NSW.

"Only two sales have taken place on the lakefront in Wooloweyah during the past two years," Ray White agent Daniel Kelly noted.

The three bedroom lakefront 131 Lakes Boulevard offering last sold in 2011 at $460,000 after 200 plus days on market.

Further north in tropical Queensland, a Kinka Beach waterfront reserve home near Yeppoon was snapped up for $245,000.

The three bedroom 886 Scenic Highway home (below), on Shoal Bay, was offered for sale by mortgagees.

It had last sold at $320,000 in 2005.

Capital city buyers take a break from auctions on long weekend

"The highest home appears structurally sound and has plenty of internal space to make a full upgrade on the home worth while," Ray White agent Lindsay Lodrick suggested 

Capital city auction activity took a back seat to the AFL and NRL Grand Finals, with buyer disinterest sending the preliminary combined capitals clearance rate below 50 percent for the first time since December 2012.

Preliminary results showed a clearance rate of just 49 per cent, according to CoreLogic, down from 52 per cent last week.

Click here to enlarge.

Capital city buyers take a break from auctions on long weekend

Sydney’s auction clearance rate plummeted to 45 per cent, its lowest level in a decade.

There were just 380 Sydney auctions scheduled — well down on last Saturday’s super Saturday of 800.

CoreLogic auction commentator Kevin Brogan said the 45 percent result was based on the 223 that had been reported.

The preliminary clearance rate was 14 per cent down on prior Saturday.

Melbourne saw the biggest drop in volumes with only 69 homes taken to auction returning a preliminary auction clearance rate of 55 per cent, while last week there were 1,160 auctions held and the final clearance rate came in at 53 per cent. 

This time last year, 122 auctions were held across the city.

Real Estate Institute of Victoria figures show the number of auctions tumbled from 4132 in September 2017 to 3260 in September 2018, with fewer auctions on every weekend compared to a year prior.

Melbourne's top sale was at Templestowe Lower where a four-bedroom family home passed in at $1.25 million, but the sold for $1.28 million.

The 369 George Street, Templestowe Lower offering sold within its advertised price range of $1.19 million to $1.29 million.

The nation's top sale was the pre-auction sale of 22 Gladstone Parade, Lindfield (below) which saw $3.65 million secured by Savills agent Stephanie Hearn.

Capital city buyers take a break from auctions on long weekend

The modern family home came with five bedrooms and five bathrooms.

CoreLogic noted it was one of 63 pre-auction deals secured by Sydney agents.

The highest sale under the hammer was on the Parramatta River at 41 Burns Crescent, Chiswick (below) which sold for $3,550,000.

Capital city buyers take a break from auctions on long weekend

The property had been in the same family for 55 years — they’d built the house which attracted three bidders from the four registered parties.

The Sunday Telegraph reported the written reserve was adjusted lower and the buyer upped his offer by $50,000, sealing the deal with plans for rebuilding.

A six-bedroom, six-bathroom waterfront reserve home at 16 Mulray Ave, Wollstonecraft, failed to sell at weekend auction with just the one registered bidder.

Its Stone agents Annika and Aaron Bongiorno had given a price guide of $5.7 million.

Brisbane had the nation's cheapest capital city outcome when $260,000 was paid for 12 Kirton St, Redbank Plains.

The three bedroom property was marketed as needing some TLC.

Tags: 
Clearance Rate Weekend Auctions

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