Beach offerings amid weekend auctions before winter hibernation
Jonathan ChancellorDecember 7, 2020
Auction activity remained relatively steady across the capital cities this weekend, with a total of 1,746 homes taken to market.
Though estate agents report that prices are turning lukewarm.
With school holidays recently underway, many of the weekend offerings were in seaside localities before the onset of the winter hibernation.
At Blairgrowrie (above), there was a $550,000 sale of one of the Mornington Peninsula’s original holiday homes.
Set among tea trees, the one bedroom weatherboard at 424 Melbourne Road had been listed with a $545,000 to $599,500 price guidance.
It last sold at $49,000 in 1998.
At Ettalong Beach on the NSW Central Coast, a three bedroom brick house at 96 The Esplanade offered for the first time in four decades was snapped up pre-auction for $1.65 million.
A three bedroom Main Beach apartment was sold for $580,000. Set in The Meriton, the apartment at 7/29 Woodroffe Avenue last traded in 1998 at $240,000.
Ray White Queensland conducted 50 auctions on the Gold Coast to leverage off the Commonwealth Games hype.
Around a quarter were sold.
The sales included a $3.93 million five-bedroom home at 15 Queen Anne Court, Sovereign Islands which is under offer (below).
The national success rate of 63 per cent increased from last week’s final clearance rate which saw the lowest result so far this year at 61.7 per cent from 1,915 auctions.
CoreLogic noted units outperformed houses, with 65 per cent of units finding buyers compared to a cooling 62 per cent success rate for houses.
Click here to enlarge.
Melbourne saw a total of 905 auctions take place this weekend, returning a 63 per cent preliminary clearance rate, with the inner east again the weakest region with just 48 percent finding buyers.
Parramatta's 38 percent was Sydney's weakest region, well below the improved overall 66 per cent success rate from the reduced 551 auctions held.
Sydney's top sale was at Strathfield. The 5 Firth Avenue property sold at $5,715,000. The six-bedroom designer residence on 920 square metres came with basement parking for six cars.
The top Melbourne sale was in Albert Park, where a knockdown at 42 Draper Street sold for $3.85 million.
The three bedroom brick house sits on a 333 sqm block, a deceased estate held in the same family for half a century. The indicative price guide had been $2.9 million to $3.19 million, with three bidders pushing it $650,000 over reserve.
An Elwood home, with balcony and garage door designed resplendent with leaf ornamentation, was among the weekend offerings.
The leafy panorama featured on the front facade of the home at 5 Ruskin Street (below) which was listed with $2.8 million to $3 million hopes.
This distinctive four-bedroom residence boasts four bathrooms, a study retreat, open-plan living-dining zone and pool.
James Meldrum, of RT Edgar advised it was under contract, though without price disclosure.
A Cheltenham house that dates back to the early 1900s was passed in at $1.4 million.
It had been tipped to have seen a battle between renovators and developers.
The three-bedroom house on 750sq m at 12 Coape Street had a price guide of $1.375 million to $1.475 million after its quote was increased.
Buxton agent Matthew Gray said the property was among the oldest in the suburb, but does not have any heritage protection. The historic Cheltenham home features a hipped roof, front veranda, double-hung windows and four fireplaces.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.