Wollongong's 38 percent weekend auction clearance rates

Wollongong's 38 percent weekend auction clearance rates
Wollongong's 38 percent weekend auction clearance rates

Wollongong was in the bottom three when it came to clearance rates at auction this weekend, with a rate of just 38 percent.

Around 32 properties went to auction in Wollongong, however, only 10 sold of the 26 confirmed results.

Overall, auction activity picked up over the week with 2,119 homes taken to auction.

There was an increase in auction volumes over the week with 2,119 homes taken to auction across the combined capital cities, up from 1,851 over the previous week although lower than this time last year (2,519).

Preliminary results show a clearance rate of 49.8 per cent across the combined capital cities, up from 47.0 per cent last week, however much lower than 12 months ago (64.7 per cent), marking the 4th consecutive week where the clearance rate has been below 50 per cent.

Properties caught up in low clearance rate in Wollongong included 11/3 New Dapto Road, Wollongong  (pictured above) which did not sell.

The three bedroom two bathroom townhouse set over two story's features a double lock up garage.

With a price guide of $725,000 to $750,000, the 224 sqm home last sold in 2002 for $365,000.

Wollongong's 38 percent weekend auction clearance rates

Another home that didn't succeed was 21 New Mount Pleasant Rd, Balgownie (pictured above).

Set on 980 sqm the four bedroom two bathroom home features a wraparound balcony.

The price guide for the home was $1,050,000 to $1,150,000.

Wollongong's 38 percent weekend auction clearance rates

However a home that did manage to sell in Wollongong is 14 Camden Grove, Figtree (pictured above).

The four bedroom two bathroom hope is close to the Wollongong CBD.

Last sold in $705,000 for 2016 the home sold for $750,000, showing some price growth.

This was an appreciation of 3.14% annually.

Tags: 
Wollongong Auction Market

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