$3.1 million weekend sale in lockdown suburb Ascot Vale

$3.1 million weekend sale in lockdown suburb Ascot Vale
$3.1 million weekend sale in lockdown suburb Ascot Vale

Sydney and Melbourne’s auction results maintained their holding pattern at the weekend.

Sydney recorded a preliminary clearance rate of 65.9 per cent on Saturday, after 470 auctions and 310 reported results. There were 69 properties withdrawn from auction.

Melbourne's preliminary clearance rate was 62.2 per cent after 373 auctions and 235 reported results. There were 40 homes withdrawn from auction – including properties that had been listed in the renewed coronavirus hot spots.

.1 million weekend sale in lockdown suburb Ascot Vale

But the historic Ascot Vale home, Bolinda sold posted auction for $3.1 million.

It was Melbourne's top weekend result, pushing a $2,275,000 Brighton East sale into second place.

Bolinda had been listed initially with expectations between $3.7 million and $3.95 million in April.

But this expectation was reduced in May to $3.3 million to $3.5 million.

The historic Ascot Vale manor has had just three owners since it was built 136 years ago.

The four-bedroom home at 43 Kent Street last traded 57 years ago.

The Italian Renaissance style house is in need of some renovation.

It was owned for nearly six decades after being built for the McClelland family in 1884.

The family set up an artists’ group and later built the McClelland Sculpture Park and Gallery in Langwarrin.

Sydney's top sale was $4.63 million in Mosman. Six of the 14 registered parties bid for the four-bedroom house at 12 Windward Avenue that was for sale for the first time in six decades. 

CoreLogic reported volumes were down week on week across the combined capital cities, with a total of 1,185 homes scheduled for auction.

The lower activity which we have historically noted over school holiday periods, returned a preliminary clearance rate of 65 percent.

This was higher than last week preliminary figure of 64.5% across a higher 1,485 auctions, which later revised down to 60.6% at final collection.

Looking at results from the first week of July last year, a lower 953 homes were taken to auction with a success rate of 64% according to final figures.

Across Australia’s two largest auction markets, the lower activity across both cities saw the clearance rate improve.

Across the smaller cities, Canberra continues to outperform in terms of success rate across the capital city markets with an 81.6% preliminary clearance rate this week.

However this was down slightly on the final clearance rate last week with 84.4% of homes successful at auction across Canberra.

Perth, where only a small proportion of properties are auctioned, continues to return one of the lowest clearance rates across the capital cities with only 22% of auctions clearing this week.

Ray White Group booked a preliminary clearance rate of 61 per cent on a week when the leading auction house had a reported auction market share of 31 per cent.

The average registered bidder number sat at four.

Ascot Vale COVID-19

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