Strong weekend apartment auction clearance rate amid lockdowns

Apartment vendors secured a 73 strong percent success rate across 419 weekend auctions across the capital cities. According to CoreLogic there was an $769,000 median price for apartments/townhouses. There were 338 national results, with some 81 results yet to be advised. Houses saw a 77 percent success rate, so it was the narrowest gap between the two asset classes in many months. Sydney was the strongest apartment market with an 83 percent preliminary success rate, with a $992,000 median price. Sydney apartmnents were more popular than houses which saw a 79 percent success rate. There were 161 Sydney listings of apartments and townhouses. A Wollstonecraft sale through McGrath Estate Agents at $1,820,000 sale topped the weekend's sales in Sydney. The two bedroom 2/46 Morton Street offering, with pool on title, had last traded at $725,000 in 2012 and for $160,000 in 1987. The garden apartment was built in 1977, a five-minute walk to buses and 10 minutes to trains. Melbourne saw a 68 per cent success rate, well up on the prior weekend's 57 percent success rate. The Melbourne median apartment/townhouse sale was with a $698,000 median from its 153 sales, with 53 results yet to be tabulated. Its top sale was a three bedroom, three bathroom Hawthorn townhouse that fetched $1.6 million at 9/1 Muir St in the Yarra Bank complex. Its Kay & Burton/Noel Jones price guide had been $1.35 million to $1.485 million. The three storey townhouse last traded at $915,000 in 2009. It was Millennium Properties’ first project in 1996, as a partner in a joint venture with Salta Properties on the development. Brisbane had a 46 percent success rate from 20 auction offerings.