Fitzroy North and Killara top subdued weekend auction results
Jonathan ChancellorApril 15, 2018
Melbourne was the only capital city to see an increase in the number of homes taken to weekend auction, as weakening clearance rates, along with school holidays, impact on April auction activity.
Melbourne had a subdued 64 per cent success rate across 874 auctions, down from 68 per cent across 723 auctions last weekend.
Melbourne's top sale was a renovation opportunity in Fitzroy North.
The 25 McKean Street double fronted brick Victorian era offering (top) fetched $3.84 million, contested by four bidders in the rain.
Last sold around six decades ago, the home with a classic façade featured soaring ceilings, original cornices, architraves, rosettes and open fireplaces.
Boasting three street frontages, with access also from Jamieson Street and Alfred Crescent, the home sits on a 600 sq m block.
Domain advised the vendors inherited the home in the Edinburgh Gardens precinct after their elderly aunt passed away last year.
The weekend sale price was $220,000 above reserve with Jobe Watson, the former Essendon captain turned buyer’s advocate, the underbidder for his unsuccessful clients.
The four bedroom, one bathroom house which had $3.1 million to $3.4 million price guidance was instead sold to a young couple with a baby from Carlton North.
The former Essendon star secured his first buy for a client last month in his new role as a Melbourne real estate buyer’s agent.
It was when the Infolio Property Advisors director nabbed a two-bedroom Kensington house for interstate clients at $1.03 million.
Watson, whose passion for property saw him initially a client of Infolio, then did some work experience for the group.
He purchased equity in the company in 2016 and began as a buyer’s advocate after his 220-game AFL career came to an end last season.
Canberra recorded the nation's highest preliminary clearance rate this week with a 74.3 per cent success rate from its 78 auctions.
Prices ranged from $405,000 at Palmerston to $2.95 million at Red Hill.
The 131 Mugga Way, Red Hill home was a five bedroom Gary Williamson-built home with courtyards on 1255 sq m sold through Luton Properties (below).
The official land value was $1,291,000.
The national capital's clearance rate was next followed by Adelaide's 70.6 per cent.
Prices in Adelaide ranged between $385,000 at Bowden and $1,005,000 at Semaphore.
The Harcourt Williams sale at 121 Gibson St, Bowden was a basic three bedroom 1900 cottage on 292 sqm.
The Housing Safety Authority had declared the Bowden property to be substandard with a Housing Improvement Order on the property.
Click here to enlarge.
By comparison, 1,839 auctions were held last week with a final clearance rate at 62.8 per cent.
Over the same week last year, auction volumes were lower due to the 2017 Easter weekend.
Sydney had the top result around the capitals with a pre-auction sale in Killara at $5.7 million through McGrath agents Neo Wang and Glenn Curran (below).
It last traded at $2.95 million in 2003.
The four-bedroom manor at 28 Wattle Street with sandstone and double-brick facade sits in gardens designed by Peter Fudge, featured in his first book.
The gardens come with pool with Moroccan-style mosaics and a sandstone pavilion.
It was initial listed with $6 million hopes last last year.
Sydney was host to 774 auctions this week, with preliminary results showing a 64.9 per cent success rate, up from 62.9 per cent across 795 auctions last week
Brisbane reported 45 per cent clearance of 56 scheduled auctions.
Its cheapest result was $620,000 at Deception Bay, north of Brisbane.
The single story home on 733 sqm at 91 Esplanade was a waterfront reserve knockdown.
It sold at $480,000 in 2003.
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.
