Williamstown lolly shop fails to sell in pre-Christmas rush to auction

Williamstown lolly shop fails to sell in pre-Christmas rush to auction
Williamstown lolly shop fails to sell in pre-Christmas rush to auction

The distraction of Christmas caught up with weekend auction listings.

Not harshly, but the clearance rates did dip into the low 70s as record volumes came in a late December flood.

One of the failed offerings was a former lolly shop in Williamstown.

Marketed at $1.1 million plus, the 45 Stevedore Street listing was passed in at $1,265,000.

The Herald Sun reported the residence attracted a $1.3 million written offer post-auction to RT Edgar Williamstown.

The five-bedroom 1900 property was being offered for the first time in 21 years last selling at $189,000 in 1995.

There was success however at Brighton's Dendy Beach.

A newly built bathing box, built by the local council, sold at a record price.

It was listed through Nick Johnstone Real Estate agent Alan McGillivray, who given its distant location on the strip, gave a cautious mid-$200,000s price guidance.

But Box 85 sold on Saturday for $326,000. Painted orange and yellow, the box exceded recent records when $295,000 was set in early 2016 and mid-year when bathing box 44 sold at $307,000.

he auctioneer Nick Johnstone told the crowd only three more of the boxes will be built.

There were three bidders.

A $4.6 million Warrawee home topped the nation's weekend auction sales.

The 2a Pibrac Avenue offering sold two days before the weekend auction having been marketed with $4.5 million expectations through Di Jones Real Estate.

Williamstown lolly shop fails to sell in pre-Christmas rush to auction

The five bedroom architecturally-designed home on its 1560 sq m block had last sold at $1.5 million in 2003.

The cheapest was $250,000 at Frankston.

The 7/74 Beach Street offering was a top floor two bedroom apartment that had been recently renovated.

Williamstown lolly shop fails to sell in pre-Christmas rush to auction

It was last listed for rent at $250 a week in 2014.

Melbourne's top sale was when 24 Alexandra Avenue, Canterbury sold through Marshall White for $4,012,000.

Williamstown lolly shop fails to sell in pre-Christmas rush to auction

The brick 1910 five bedroom home sold in 2012 at $2,505,000.

Two bidders battled it out after it went on the market at $3.8 million.

CoreLogic's Kevin Brogan noted the combined capital city clearance rate fell slightly to 70.5 per cent, down from last week’s 71.6 per cent.

The number of properties taken to auction also fell across the capital cities, with 2,722 reported auctions, down from 3,432 last week, which was the second busiest auction week of the year.

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Williamstown lolly shop fails to sell in pre-Christmas rush to auction

"However, compared to the corresponding week last year, auction activity is significantly higher, with 1,818 auctions and a lower rate of clearance (59.4 per cent) reported over the same period last year."

He advised auction numbers will remain relatively sedate over the festive period.

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Williamstown lolly shop fails to sell in pre-Christmas rush to auction

In Melbourne the number of homes taken to auction fell to 1,286, down from last week’s seasonal high of 1,685, with the preliminary clearance rate for the city also falling over the week (75.7 per cent), down from 78.4 per cent over the previous week.

"However, this is significantly higher than the corresponding week last year when 875 auctions were reported with a clearance rate of 65.7 per cent," he noted.

Across Melbourne’s sub-regions, the Inner South region recorded the highest preliminary clearance rate of all the regions, with 84.4 per cent of the 113 auctions successful, followed by the Mornington Peninsula region, where an 82.5 per cent preliminary clearance rate was recorded across 52 auctions.

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Williamstown lolly shop fails to sell in pre-Christmas rush to auction

Across Sydney, there was a lower volume of auctions this week, with 874 held, down from 1,168 over the previous week.

The preliminary clearance rate for the city saw a slight increase over last week, up to 74.1 per cent from 73.7 per cent last week.

"When compared to the same time last year, both, the clearance rate and number of auctions held are significantly higher than the equivalent period, when a 61.2 per cent clearance rate was recorded across 456 auctions," he said.

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Williamstown lolly shop fails to sell in pre-Christmas rush to auction

The Sydney Northern Beaches region recorded the strongest clearance rate of all the Sydney sub-regions, with a 90.2 per cent preliminary rate of clearance across 64 auctions, while the Inner South West region recorded the highest volume of auctions (118).

There were 233 Brisbane properties taken to auction with a preliminary clearance rate of 45.7 per cent, up from 43.5 per cent last week and also higher than the same period last year, when 45 per cent of the 191 properties taken to auction were successful.

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Williamstown lolly shop fails to sell in pre-Christmas rush to auction

Adelaide saw a preliminary clearance rate of 61.4 per cent across a total of 132 scheduled auctions.

"This is higher than the previous week, when Adelaide’s clearance rate was 58.3 per cent and also higher than the 57.3 per cent recorded one year ago."

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Williamstown lolly shop fails to sell in pre-Christmas rush to auction

Perth’s clearance rate of 30 per cent across 47 auctions was up from the previous week, when 76 auctions were held and a clearance rate of 20.0 per cent was recorded.

Over the same week last year, the clearance rate was lower, when 25.8 per cent of the 68 auctions were successful.

Canberra’s preliminary auction clearance rate of 65.5 per cent this week is higher than last week, when the final auction clearance rate was 60.8 per cent and also higher than the 52.2 per cent recorded last year. 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Auctions Williamstown

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