National clearance rates heads above 70 percent on summer's last hurrah

National clearance rates heads above 70 percent on summer's last hurrah
National clearance rates heads above 70 percent on summer's last hurrah

Adelaide was the best performing weekend auction capital with its affordable prices ranging between $330,000 and $1.45 million.

It scored a 75 per cent clearance rate from its 107 auctions.

Perth returned the lowest preliminary auction clearance rate of 52 per cent.

Auction volumes surge well past 3,000 for the first time this year returning a strong national preliminary auction clearance rate of 70 per cent.

There are two more so-called Super Saturdays squeezed in before the Easter break.

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National clearance rates heads above 70 percent on summer's last hurrah

Upcoming Melbourne sellers include AFL champion Bryce Gibbs.

His former Ascot Vale home (above) before moving interstate to join the Crows has been listed for March 17 auction. 

The former Carlton player bought the two-storey, three-bedroom townhouse at 67c St Leonards Rd in 2008.

The cheapest weekend result across the capital cities was when a student studio apartment sold pre-auction in Footscray at $120,000.

The sale of 224/133 Droop Street offering was a $220 a week rental.

It was listed with a $105,000 to $110,000 price guidance.

The low rise apartment with around 40 sqm had previously traded at $122,000 in 2015. It sold at $127,000 in 2013. 

Across the combined capital cities there was a a total of 3,275 homes taken to auction, up from the prior week's 1,992 auctions when some 66.1 per cent were sold.

It remains down on the same week one year ago when agents secured a 78.4 per cent success rate across a slightly higher volume of 3,301 auctions. 

"Units outperformed the house market, with 72.9 per cent of units selling at auction, while 69.5 per cent of houses sold across the combined capitals," Kevin Brogan, auction analyst at CoreLogic said. 

The highest national sale was in Melbourne when 33 Canterbury Road, Middle Park (below) fetched $5.75 million shortly after its auction which had a $5.45 million top bid.

National clearance rates heads above 70 percent on summer's last hurrah

It was Eumeralla, a five bedroom Victorian terrace home on a 50 metre deep allotment. It had soaring ornate ceilings, marble fireplaces, arched entrance hall, gracious sitting room and main bedroom with full width balcony.

Marshall White secured the sale of the home which last sold at $2.5 million in 2006.

There were two bidders.

The highest Sydney sale under the hammer was the five bedroom 29 Cotswold Road Strathfield which sold for $4,810,000.

It last sold in 2003 at $2 million.

There was a pre-auction sale of 4 Bayview Street, Bronte for $7.5 million (below).

National clearance rates heads above 70 percent on summer's last hurrah

Melbourne and Sydney both secured auction clearance rates of 71.7 per cent.

Melbourne's was up on the 69.8 per cent final result from the prior weekend.

Its volume jumped to 1,610 auctions held, up from 932 auctions.

In Sydney, 1,221 homes were taken to auction, up from the 737 offered over the prior week. 

Its preliminary result of 71.7 percent, was up on last week’s final clearance rate of 67.8 per cent.

Brisbane had a 53.3 percent clearance rate from 164 auctions listed. Its top sale was $5 million at Chelmer. The 127 Laurel Avenue sale was a five bedroom Knowlman McDonald-built home on a 3122 sqm river frontage sold through Adcock Prestige. 

Adelaide's dearest was a tight finish between a four bedroom $1.42 million Henley Beach offering and a five bedroom $1.42 million Glenelg East house

Adelaide's cheapest was a $330,000 Semaphore Park two bedroom apartment that looked over Point Malcolm Reserve to the sea.

The 12/403 Esplanade offering was a two storey 80 sqm late 1960s apartment with a rental estimate of $320 to $340 per week.

 

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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Weekend Auctions Super Saturday

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