Adelaide star in weekend auctions

Adelaide delivered the strongest weekend auction result of all the capital cities - and also had one of the notable sales at $5.2 million.

It was a seven bedroom Tennyson beachside mansion sold by the Shahin family, owners of Peregrine Corporation, one of the state's biggest petrol convenience store operators.

The three-storey 2010-built home at 81 Seaview Road Tennyson (above and below) had been for sale on and off for four years through almost a dozen different agents, The Sunday Mail reported.

It's initial asking price was $5.9 million for the home with sea views from most of its 1000 sqm space.

It was built after the 755 sqm block was bought for $1.95 million in 2009.

"The scope of architectural bravery invested sets a new benchmark in design and functionality," Sotheby's selling agent Grant Giordano said.

The Indaily website reported the home had been designed to emulate “a luxury cruise liner.”

Adelaide's clearance rate was 64 percent, according to CoreLogic, well ahead of the next best selling capital which was Sydney on 48.5 percent.

Click here to enlarge.

The national national clearance rate sat at 45 percent but is expected to fall below 45 per cent for the third consecutive week.

Last week's final auction clearance rate fell to its lowest level since 2012 at 42.7 percent.

Melbourne delivered a weakened result with a 43.5 per cent preliminary clearance rate from its 1400 auctions. 

Melbourne was host to 1,411 auctions down from the 1,732 auctions this time last year.

 

The top sale was 21 Kinkora Road, Hawthorn (below) was $6.1 million with two bidders seeking the offering.

 

 

The six bedroom 1920s home on 1570 sqm had been listed with $5 million to $5.5 million price guidance.

 

It was announced on the market at $5.7 million, but the buyers agent Mal James suggested the sale price reflected a 15 percent dip in land price on 2016/2017 results.

 

AMP Capital chief economist Shane Oliver told Fairfax Media that Melbourne was "starting to look even weaker than Sydney."

 

Melbourne also had the nation's cheapest sale when 8/177 North Rd, Gardenvale was sold for $250,000 pre-auction.

 

The top floor one bedroom 1960s unit with 38 sqm space last sold in 2008 for $180,000.

 

The revamped childhood home of former North Melbourne coach Denis Pagan failed to sell at weekend auction.

The auction offering at 140 Station Street, Carlton (below) was a new townhouse incorporated by developers into the original weatherboard home of the Pagan family.

The three bidders stopped at $2.125 million.

It is now for sale at $2.2 million.

The Herald Sun reported Melbourne auction numbers will remain high until mid-December, with close to 1000 next weekend despite the Victorian state election.

Sydney, with 874 auctions scheduled, returned a preliminary clearance rate of 48.5 per cent.

It was less active than the same week last year when 1,061 homes were taken to auction across the city. 

"The final auction clearance rate for Sydney has been below 45 per cent for three of the past four weeks, and it’s likely that we will see that again this week as final results are collected," CoreLogic auction analyst Kevin Brogan said.

Last November the clearance rate across Sydney was recorded at 54.8 per cent.

 

Sydney's top sale was 13 Cyprian Street, Mosman (below), which sold for $4,925,000.

 

 

The deceased estate was offered to the market for the first time in 57 years.

 

Brisbane's clearance rate sat at the weakest on the east coast at 40 percent.

 

There was $4.275 million sale at 34 Satinwood Court, Bardon through Ray White.

 

There were five local registered bidders who sought the five-bedroom house set on 3519 sqm.

 

There were 2,753 homes taken to auction across the capitals, up from 2,386 over the previous week, although much lower than the 3,390 auctions were held across the combined capital cities this time last year when there was a 60.9 success rate per cent.