Bids aplenty as rain buckets down on Sydney weekend auctions
There was an initial 81.9% clearance rate at Sydney weekend auctions, continuing the recent renewed strength.
The revised APM prior weekend result was a strong 78.9%.
Umbrellas galore when Sydney's wet auctions got underway today on the busy last Saturday in August.
There were six bidders, barely visible, spotted amid the downpour when 53 Alt Street, Queens Park went to auction.
Bidding opened at $2 million, with the hammer coming down on the Federation home at $2.51 million when auctioned through Debbie Donnelly at Phillips Panzter Donnelly. It was $160,000 over reserve.
The 53 Alt Street offering, Mayo was sold as a deceased estate.
The double-fronted brick house presented as an exciting prospect for a complete renovation and transformation with rear and second floor extensions (STCA) similar to neighbouring homes.
Owned by the same family for many decades, it has a wealth of original features including leadlight windows and a tessellated tiled verandah with timber fretwork.
Another nearby offering at 6 Lynch Avenue, Queens Park (pictured below) sold this afternoon for $1.45 million.
APM noted auction numbers in Sydney have risen steadily over recent weekends with this weekend some 573 auctions scheduled compared to the previous weekend’s 440.
There were the 550 listed over the same weekend last year.
The city and east hosted the most number of auctions with 82 followed by the inner west with 81.
Mosman hosted the most auctions this weekend in Sydney with 12. Next highest was Epping on the upper north shore, Strathfield in the inner west and Manly on the northern beaches each with 9 auctions.
With five Saturdays, Sydney has recorded its highest ever August for auction listings this year with 2660 properties going under the hammer.