Sydney weekend auction rates hover above 80 percent

Sydney weekend auction rates hover above 80 percent
Staff reporterDecember 7, 2020

Sydney weekend clearance rates remain strong after another RBA rate cut encouraged buyers who've yet to show coronavirus induced recession fears.

Elsewhere public holidays in four of the eight states and territories meant the 1456 number of homes was less less than half the number last week (3026).

Across the capitals the preliminary clearance rate rose from 73.9 per cent to 74.8 per cent.

Sydney’s was again the strongest auction market at 82 per cent.

Its highest sale was at 8 Wallis Street, Woollahra.

It sold through Ben Collier and Fraser Turvey at The Agency for $6.1 million to buyers had been renting after selling their own home, looking to upsize in the local area.

It last sold for $3.4 million in 2015 with little more than a splash of paint in the meantime.

The 8 Wallis Street offering was four-bedroom, three-bathroom residence. 

Sydney weekend auction rates hover above 80 percent

Built in 1888, the three-story residence features a ten-metre wide frontage, elegant lounge and dining areas, manicured gardens and two balconies. 

The home had ornate ceilings, original fireplaces and floorboards. 

The 367 sqm block is privately set between Centennial Park and the Queen Street village.

Sydney's most affordable auction this weekend was on Watkin Street, Rockdale.

The one-bedroom, one-bathroom unit sold pre-auction through PRD estate agents Nick Reskakis and Jonathan Kollias for $340,000 to a first time buyer.  

Melbourne was the second busiest auction market, but the Moomba public holiday on Monday saw just 404 auctions.
There was a reduced 68 per cent success rate, down from 77 per cent the weekend before.

CoreLogic auction analyst Kevin Brogan attributed the declining rate to weaker participation due to the long weekend.

The city’s highest disclosed sale was Marazion, a three-bedroom, two-bathroom at Faversham Road, Canterbury.

Sydney weekend auction rates hover above 80 percent

The 1920s-built home sold for $2.89 million through Jellis Craig estate agents Simon Lord and David Banks.

The elegant Victorian property showcases a Spanish Mission façade, and impressive craftsmanship with its diamond headlights, stained glass windows, and solid timber features throughout.

The 715 sqm home last sold for $850,000 in 2003.

Adelaide's top sale was a three-bedroom, two-bathroom sandstone villa at Northgate Street, Unley Park.

The 894 sqm villa sold for $1,395,000 through Toop & Toop estate agents Peter McMillan and Eloise McMillan. 




Editor's Picks