Sydney's Super Saturday's 80% auction success but no festive result for Holly Brisley at Bondi Beach
There were 900-plus stories in the harbour city today as Sydney had its biggest auction day in property history.
The Australian Property Monitors preliminary tally - which took into account 510 results - came with an initial on-trend 80.4% clearance rate.
The previous weekend's adjusted figure eased to 77%.
There's a further two weekends with 800 plus listings and then even another 120 on the Saturday just four days before Christmas when offerings have historically been avoided as the city focuses its attention on beach cricket, Christmas lunch preparation, gift giving and then New Year's Eve resolutions.
It has been Sydney's remarkable spring that might possibly never be repeated as virtual 80% clearance rates consistently were secured during the selling season. Constant record listing numbers, ensuing record sales volumes, record median house prices and this weekend the busiest Sydney auction day on record.
Melbourne had its second busiest auction day, with an improved clearance rate of 70% compared to the revised 65% of last weekend, according to the REIV.
There were 1177 auctions reported to the REIV, with around 1570 auctions next weekend.
Home buyers spoilt for choice in both major auction capitals, with Sydney holding firmer than Melbourne. Catching the tail end of the spring momentum, many vendors were clearly committed to their upgrade or downsize purchasing, but there have been many eleventh hour investor vendors merely keen to sell now rather than risk waiting until next year after the holiday break. But by leaving it so late they risked facing a diminishing pool of buyers who were perhaps sensing the very early signs of regaining of the upper hand, especially in Melbourne.
Even in Sydney there were results of just below reserve sales emerging within the bullish hype including at Kirribilli where a parent-funded first home buyer beat two investors paying $950,000 for the two bedroom 10/21 Holbrook Avenue at slightly less than its reserve of $975,000. The same at a $600,000 Camperdown apartment where the reserve was reduced by $20,000 to secure the under the hammer sale.
The apartment in The Bondi at Bondi Beach owned by former Home & Away star Holly Brisley and husband, Paul Ford (pictured below) was passed in on a $4.7 million vendor bid. The three-bedroom apartment at 702/152 Campbell Parade, Bondi Beach had sold for around $5.3 million in March, but the buyer, an undisclosed mining executive, didn’t settle through the McGrath agent Steven Chen who had the relisting initially with $5.5 million hopes.
{yoogallery src=[images/stories/december14holly]}
Sydney's inner west was the busiest district with 123 scheduled, followed by the south with 116, the west with 78 and the city and east with 70. Epping had 15 homes scheduled to go under the hammer, with a $943,500 sale of a three bedroom newish townhouse on Ray Road.
Maroubra and St Ives have 10 auctions each followed by Carlingford with nine and Mosman with eight auctions scheduled.
The results include the $1.131 million sale of a four bedroom house at 12 Eccles Street, Ermington, through First National West Ryde with the 100 plus crowd watching a result at $81,000 over reserve through auctionservices.net.au. The campaign attracted 90 views, 13 contracts issued, and nine registered to bid.
The home was a well presented newly built home in a quiet street. Strong bidding came down to two bidders with a young family couple from the area the successful bidders.
A three bedroom at 21B Buckingham Street, Canley Heights listed through by Raine & Horne Cabramatta fetched $605,000. At $55,000 over reserve, it was a fibro house on a dual occupancy block.
Cooley Auctions secured clearance a clearance rate of 74% across its 102 auctions. "Sydney market passes the big test," Andrew Cooley tweeted.
