Maribyrnong takes third place in Melbourne auction results

Maribyrnong takes third place in Melbourne auction results
Maribyrnong takes third place in Melbourne auction results

Blue chip Armadale just pipped Toorak to take the Melbourne's priciest weekend auction result, with the best of working class Maribyrnong in a surprise third place.

The Adelaide Street, Armadale result was $5,678,500 with three bidders competing for the signature Wayne Gillespie designed home set within Paul Bangay designed gardens with pool.

The three bedroom home on 759 sqm (above) last traded at $485,000 in 1993.

There was a $5.62 million sale in neighbouring Toorak with just the two bidders for 7 Torresdale Court (below) which was listed with $4.8 million to $5.2 million price guidance.

It was announced on the market at $5.4 million. 

 Maribyrnong takes third place in Melbourne auction results

Maribyrnong had the third highest weekend result across Melbourne when Grandview, a riverfront reserve home (below) fetched $4.14 million.

Maribyrnong takes third place in Melbourne auction results

The price guidance for the four bedroom house on 1890 sqm at 96 The Esplanade Maribyrnong had been $3.6 million to $3.95 million.

 Maribyrnong takes third place in Melbourne auction results

The ANZ-backed REALas price tipping website was well off the pace with their forecast $3.66 million advisory.

The strip's previous highest recorded result was $3.4 million last year.

The highest house sale across the capital cities at weekend auctions was in Drummoyne in Sydney for $5.8 million.

The 53 Dening Street home (below), was reported by The Sunday Telegraph to have sold for $650,000 above reserve, after three local Chinese families competed.

 Maribyrnong takes third place in Melbourne auction results

The vendors had bought the battle-axe 771 sqm property for $1.45 million in 2004 before construction of its Richard Archer-designed home which cost $1.5 million to build.

Across Australian capital cities, there were 2,689 homes taken to auction over the past week, much lower than the same time last year when 3,438 auctions were held across the combined capital cities.

Preliminary results show a national clearance rate of 46.9 per cent this week. 

One year ago, a clearance rate of 61.1 per cent was recorded, Corelogic noted.

Maribyrnong takes third place in Melbourne auction results

"As final results are collected we will likely see the clearance rate revise down below 45 per cent for the fourth consecutive week," CoreLogic auction analyst Kevin Brogan said.

Melbourne was host to 1,137 auctions with a preliminary clearance rate of 44 per cent, up from last week when the final clearance rate dropped to 41.3 per cent across 1,401 auctions. 

On the same weekend last year, the Melbourne auction clearance rate was 65.5 per cent from 1,736 auctions.

Preston topped the list as the busiest suburb across the nation with 18 homes scheduled for auction, followed by Northcote (17) and Epping (16).

Preston results ranged between $572,000 for a two bedroom High Street apartment and $1.2 million for a four bedroom house. 

There were 1,021 auctions held in Sydney this week making it the fifth busiest week of 2018 for the city with preliminary results showing a 52.4 per cent clearance rate, up from 42.8 percent across 875 auctions last week. 

"It’s possible that when the final results are released the clearance rate may just hold above 45 per cent, after falling below that for four of the past five weeks," Brogan advised.

Across the smaller auction markets, Adelaide was the top performer at 52.4 percent.

Adelaide's 82 results included the nation's cheapest sale.

It was a three bedroom decease estate at 34 Anderson Walk, Smithfield that fetched $166,000.

Tags: 
Clearance Rate Weekend Auctions

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