No traditional huge pre-Easter surge in auction offerings

No traditional huge pre-Easter surge in auction offerings
No traditional huge pre-Easter surge in auction offerings

Richmond ranked as the busiest suburb for weekend auctions with the Melbourne suburb having 21 homes offered under the hammer.

Richmond's weekend sales included the three bedroom cottage of former Melbourne Victory captain Adrian Leijer (above and below).

His property, which passed in at auction at $1.505 million, sold post auction for an undisclosed price.

The three-bedroom home, renovated by the star centre back and his architect wife Ashlee, had pre-auction $1.4 million to $1.54 million price guidance through Jellis Craig agent Trent Stewart.

The Herald Sun reported a Mornington Peninsula based family will use it as a city pad, the keenest of around 80 groups who had gone through the property at 118 Richmond Terrace, Richmond which was bought in 2011 for $615,000.

No traditional huge pre-Easter surge in auction offerings

The preliminary Real Estate Insititute of Victoria results for Richmond had 10 homes sold with seven passed in, with four yet to be reported.

According to CoreLogic, the next busiest suburbs were Sydney’s Leichhardt, which had 16 auctions scheduled, followed by Maroubra (15) and Mosman (14), also in Sydney.

But auction listings are low across the capital cities.

And the auction volumes are set to be interrupted over coming weeks the school holidays, the Easter break, then Anzac Day, and the May 18 Federal election.

The REIV calculated 970 Melbourne auctions, then next weekend (20/21 April) there will be just 60 auctions given the Easter slowdown.

Auctions will rise on the 27/28 April weekend to around 410 Melbourne auctions and then in early May to 550 auctions.

There were 2,268 homes taken to auction across the combined capital cities, up from 1,976 over the previous week.

No traditional huge pre-Easter surge in auction offerings

But there was not the traditional huge pre-Easter weekend surge. 

CoreLogic noted auction volumes were significantly lower than the week prior to Easter 2018 when some 3,990 homes were taken to auction.

"Although the number of auctions remain well below the week prior to Easter last year, the number of auctions held was the second highest so far this year," Kevin Brogan, the CoreLogic auction analyst noted.

Preliminary results show an auction clearance rate of 58.2 per cent across the capitals, although Brogan added: "keep in mind that this will revise lower as the remaining results are collected."

The previous week saw the final clearance rate dip from the 57.2 percent preliminary figure, but hold above 50 per cent for the fourth consecutive week at 52.6 per cent.

Across the smaller auction markets, Perth saw a fall in auction volumes week-on-week.

The nation's cheapest weekend auction result was just $212,000 in Brisbane.

The three bedroom 1970s two storey house sat on an 800 sam holding at 116 Bardon Rd, Kingston (below), just outside of Brisbane.

No traditional huge pre-Easter surge in auction offerings

It last sold at $55,000 in 2000.

"As you enter you will see this home could do with a little TLC, a coat of paint certainly wouldn't hurt however you will be impressed with this solid home offering a large fantastic layout both upstairs and downstairs," the selling agent's marketing suggested.

The accomodation downstairs could be used by "the savvy investor looking to maximise rental returns," Sam Fuller, the Ray White Logan City agent said.

Adelaide had the next cheapest when $257,000 secured another three bedroom home.

It was 10 Warrigal St, Para Hills which sold pre-auction, marketed as offering "an excellent subdivision opportunity for the savvy investor."

In Melbourne, the 970 homes taken to auction was up on the 900 in the prior week.

But the week prior to Easter last year saw a surge with some 2,070 homes taken to auction across Melbourrne.

Melbourne's preliminary weekend auction clearance rate came in at 54.9 per cent.

Melbourne's most expensive weekend sale was at 9 Mernda Road, Kooyong (below) for $4.72 million after being passed in.

No traditional huge pre-Easter surge in auction offerings

When listed last June it had a guide of between $5.5 million and $6 million.

Sydney was host to 927 auctions with preliminary results returning a 62.9 per cent clearance rate across 577 results.

The week prior to Easter 2018 saw 1,383 Sydney homes taken to auction across the city.

Sydney has the priciest sale when $6.22 million was paid for 15 Cairo Street, South Coogee (below).

No traditional huge pre-Easter surge in auction offerings

The four bedroom house was a contemporary design by MKD Architects.

The resort-style three-level residence came with 10-metre pool.

It had ocean views over Wedding Cake Island, its McGrath selling agent Marnie Senior said.

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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