Nation's cheapest weekend auction result, a Caboolture South offering sells at a loss

Nation's cheapest weekend auction result, a Caboolture South offering sells at a loss
Nation's cheapest weekend auction result, a Caboolture South offering sells at a loss

Many Sydney vendors avoided weekend auctions given the clash with the NSW state election.

There were just the 355 auctions across Sydney, substantially lower than the prior weekend's 513 listings.

The listings pattern that had been impacted by the election, would now likely revert to the big run up to the pre-Easter weekend, Kevin Brogan, the auction analysts at CoreLogic noted.

CoreLogic also noted that trend of more houses and apartments being sold pre-auction than under the hammer continued to occur with regularity.

Sydney's top sale in Mosman was pre-auction.

The four bedroom 57 Shadforth Street, Mosman (below) offering fetched $3.47 million through Belle Property which was slightly at below its mooted expectations.

Nation's cheapest weekend auction result, a Caboolture South offering sells at a loss

The price guide had been $3.5 million for the house last sold in 1993 at $770,000.

Another property sold ahead of scheduled auction included a spacious warehouse-style property at 31 Blenheim Street, Queens Park (below) at $4 million.

Nation's cheapest weekend auction result, a Caboolture South offering sells at a loss

Agent Alexander Phillips had 98 groups though the property which sold within two weeks of marketing.

The five-bedroom house last changed hands four years ago for $3,335,000.

There were 1,669 homes taken to auction across the combined eight capital cities, down from 1,875 over the previous week. 

Click here to enlarge.

Nation's cheapest weekend auction result, a Caboolture South offering sells at a loss

Brogan noted the same time last year, volumes were significantly higher with 3,990 homes taken to auction over what was the pre-Easter weekend, traditionally one of the busiest weeks for auctions each year.

Preliminary results show a national clearance rate of 56 percent, up from last week’s revised 51.4 percent clearance rate.

"Although this will revise lower as the remaining results are collected," Brogan said.

CoreLogic calculated the finalised clearance rates has sat above 49 percent for five of the last six weeks.

"And it’s likely that this week will be no different," Brogan said.

Over the same week last year the final clearance rate was recorded at 62.7 percent.

The dearest reported result in Melbourne was a four bedroom house in Glen Iris that sold under the hammer at $3,642,500 with three bidders.

The four bedroom home at 17 Vincent Street, Glen Iris sold through Marshall White whose price guidance had been $3.5 million to $3.75 million.

It was announced on the market at $3,575,000 having last sold in 2009 at $2.25 million.

A contemporary four-bedroom home at 7 Campbell Street, Brighton (below) was passed in at $4.11 million with just the one bid.

Nation's cheapest weekend auction result, a Caboolture South offering sells at a loss

The custom built Atkinson Pontifex home had a $4.2 million to $4.62 million price guidance.

A home used as a location in the 2004 film The Brush-Off sold in Melbourne’s north post auction, the Herald Sun reported.

The Moonee Ponds period home at 22 Bloom Street sold for an undisclosed sum but within the home’s $1.5 million to $1.6 million advertised range through Nelson Alexander Real Estate.

A Brighton beach box has likely matched the record price for the limited offerings along the iconic stretch of sand.

The quaint bathing Box 89 sold pre-auction for an undisclosed figure, but reportedly matching the record price of $337,000 set at an April 2018 auction for bathing box 76B.

Marshall White agent Matthew Pillios confirmed to the Herald Sun that No. 89 sold above its price range of $300,000 to $330,000.

The beach box has a mural of a koala enjoying a relaxing day at the beach painted by the artist Daniel Worth.

It was once awarded by the City of Bayside as the best exterior mural along the beach.

The beach box had been owned for three decades by the vendors who sold to a local middle-aged couple with children.

Domain had Sydney's weekend clearance rate at 61 percent, with Adelaide the second best at 55 percent.

Melbourne was at 54 percent; Canberra at 47 percent and Brisbane at 34 percent. 

An $188,000 sale outside Brisbane was the nation's cheapest result, Domain advised.

It was a three bedroom house on 420 sqm at 91 Rosemary Street, Caboolture South (main picture), north of Brisbane inland from Bribie Island.

Agent Peter Wright at Ray White marketed it as an opportunity for investors, families and first home buyers.

It had last sold when offered as a $250 a week rental proposition for $205,000 in 2014, reflecting a $17,000 price dip over the five years. 

Auction highlights this week.

Nation's cheapest weekend auction result, a Caboolture South offering sells at a loss

 

Nation's cheapest weekend auction result, a Caboolture South offering sells at a loss

 

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.

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Clearance Rate Weekend Auctions

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