Just eight sales at $500,000 or below at Sydney weekend auction
There were just eight sales at $500,000, or below, at Sydney weekend auction.
The sales ranged from $424,000 at Monterey to $500,000 in Darlinghurst.
There was another sale at Toukley, some 110 ams from Sydney, on the NSW Central Coast at $297,500. It was a two bedroom villa which was marketed by Raine & Horne Charmhaven as a "great investment opportunity with a weekly rental return of $320pw to $345pw." It would reflect a yield of around 5.6%.
The 5/288 Main Road, Toukley villa had previously traded at $247,000 in 2007, reflecting around 2.6% annual compound price growth.
Metropolitan Sydney's cheapest sale was a one bedroom at 15/53 Banks Street, Monterey (below) through PRD Woodward Ramsgate.
Other Views
The 22/6 Stanley Street Darlinghurst sale at $500,000 was an one bedroom unit in the art deco St James block through Belle Property.
The other six sales were:
$495,000 - 36 Melba Road, Lalor Park - three bedroom home
$487,500 - 36/155 Missenden Road, Newtown - studio apartment
$485,000 - 10/2 Phillip Street, Strathfield - one bedroom unit
$472,500 - 610/72 Henrietta Stree, Waverley - one bedroom unit
$467,000 - 30/29 Castlereagh Street, Liverpool - three bedroom unit
$448,000 - 22/48 Neil Street, Merrylands - two bedroom unit
Australian Property Monitors reported 99 auction sales above $1 million at the weakend amid the 558 reported results.
Auctions are typically pricier than the general private treaty market.
The weekend median auction house price was $1.19 million and $821,000 median auction unit price, according to APM.
APM put the Sydney median house price at $873,786 and the unit price at $597,688.
