Port Melbourne time capsule cottage goes back in price

Port Melbourne time capsule cottage goes back in price
Port Melbourne time capsule cottage goes back in price

There were 2,384 auctions held across the capital cities, returning a preliminary auction clearance rate of 46.8 per cent.

The average national clearance rate continued to track below 50 per cent for the seventh consecutive weekend.

"Given this week’s preliminary result is the lowest we’ve seen yet, it’s likely that as final results are collected, this week’s final clearance rate could come in lower again, potentially nudging the low 40 per cent range," CoreLogic auction analyst Kevin Brogan said.

Port Melbourne time capsule cottage goes back in price

"This is a considerably softer trend to what was seen over the same period last year when clearance rates were tracking around the low-mid 60 per cent range," he said.

The national weakening saw every capital cities sit below 50 percent, lead by Melbourne and Sydney who have accounted for 83 per cent of all auctions held so far this year.

Volumes were relatively steady across Sydney week-on-week with 830 auctions held, up on the 813 held last week.

The nation's top auction sale was Lakonia at Chiswick where 29 Hezlet Street (below) sold through Fayez Yammine at Devine Real Estate for $5.95 million.

Port Melbourne time capsule cottage goes back in price

The price guide for the five bedroom home set on the Parramatta River had been $5.5 million.

The property which attracted six registered bidders was passed in at $5.7 million who then shortly after lifted their offer by $250,000.

Sydney's auction clearance rate is heading toward a 30-year low, according to Domain, which had its preliminary clearance rate at 41 percent.

Melbourne had a preliminary clearance rate of 48 percent, with 1,141 auctions held across the city.

It's top sale was at Glen Iris.

Koonwarra (below), at 29 Dorrington Avenue, fetched $3.85 million.

Port Melbourne time capsule cottage goes back in price

The single level residence was available for sale for the first time since it was built in 1921.

The price guidance had been $3.5 million to $3.75 million. 

There was just the one bidder when a vacated timber Port Melbourne cottage (top) offering sold for $860,000, which reflected a loss on its prior sale.

A builder made an $810,000 bid and secured its post-auction.

The price guidance had been $800,000 to $880,000 for the property marketed as a blank canvas.

There had been a $964,000 sale of the one-bedroom cottage at 58 Station Street in June last year.

 

Sydney 29 Hezlet St, Chiswick NSW 2046, 5 br House, Devine Real Estate Drummoyne $5,950,000
Melbourne 29 Dorrington Av, Glen Iris VIC 3146, 4 br House, Jellis Craig Stonnington $3,850,000
Adelaide 56 William St, Norwood SA 5067, 3 br House, Klemich Real Estate - RLA174424 $1,088,000
Brisbane 24 Garema St, Indooroopilly QLD 4068, 4 br House, Plum Property $1,805,000
Canberra 47 Barrallier St, Griffith ACT 2603, 4 br House, Peter Blackshaw Real Estate Manuka $2,650,000

Most affordable

 
Sydney 28 Bancroft St, Oakhurst NSW 2761, 3 br House, Ben Price Estate Agents $440,000
Melbourne 3/414 Blackshaws Rd, Altona North VIC 3025, 2 br Villa, Jas Stephens $259,000
Adelaide 16 Atlanta Av, Ingle Farm SA 5098, 3 br House, LJH Walkerville | Modbury $370,000
Brisbane 31 Arrakune Cr, Kallangur QLD 4503, 3 br House, LJH Kallangur $396,000
Canberra 48 Boult Pl, Melba ACT 2615, 2 br House, Luton Properties - Kippax $392,500

 Source: Domain

 

Adelaide recorded a preliminary auction clearance rate of 47.5 per cent, while in Perth only 20 per cent of auctions cleared.

Canberra, which had a 45 percent success rate, had its top sale in Griffith at $2.65 million.

The 47 Barrallier Street offering was a two-level modern home with three metre high ceilings.

The nation's cheapest weekend sale was a two bedroom villa at 3/414 Blackshaws Road, Altona North.

The Melbourne offering fetched $259,000 having been listed with $240,000 to $260,000 hopes.

It last sold at $70,000 in 1990.

It was a $210 a week rental in 2013.

 

 

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.

Tags: 
Clearance Rate Auction Market

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