This article is from the Australian Property Journal archive
SYDNEY’S auction clearance rate slipped a little on NSW election day to 69%, while Melbourne improved to 71%.
There were 659 properties listed on Saturday in Sydney as Dominic Perrottet and Chris Minns faced the ballot box, according to Domain.
The median house price from 445 reported auctions was $1.775 million. A neighbour won out from eleven registered bidders to buy a Redfern terrace for $1.86 million as an investment. The 815 Bourke Street property was offered with approved place that could turn the three-bedroom home into a four-bedroom, two-bathroom terrace.
Sydney Swans midfielder Luke Parker and his interior designer wife Kate Lawrence-Parker were among the happy vendors – the Matraville duplex that they designed and completed, on a block they bought for $2 million five years ago, sold a day ahead of its auction scheduled for Saturday.
The most expensive home to sell was a five-bedroom house at 43 Newton Road in the inner western suburb of Strathfield, through McGrath Strathfield.
Sydney saw a 70.7% clearance rate the week before at a median house price of $1.64 million. A year earlier there were 924 properties listed for auction and a 63.6% clearance rate, with a median of $1,894,500.
Melbourne saw 557 properties sold from 784 reported auctions, out of a total of 996 scheduled auctions – up from 914 the week before. The 71% clearance rate was well above the previous week’s 63.2% and a house median of $1,110,500.
A three-bedroom house in the south-east bayside suburb of Aspendale achieved the biggest price. Belle Property Mentone sold 8-10 Hearle Avenue for $6.2 million.
In the same week last year, Melbourne saw a clearance rate of 65.3% from 1,336 scheduled and 820 reported auctions.
Brisbane saw a 56% clearance rate from 45 auctions reported out of the 88 scheduled auctions, while in Adelaide, the clearance rate was a high 80% with 63 out of 79 reported properties selling under the hammer, from 96 scheduled auctions.
| Auction highlights this week Saturday, 25 March 2023 | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 43 Newton Rd, Strathfield NSW 2135, 5 br House, McGrath Strathfield | $7,031,000 |
| Melbourne | 8-10 Hearle Av, Aspendale VIC 3195, 3 br House, Belle Property Mentone | $6,200,000 |
| Adelaide | 96 Frederick St, Unley SA 5061, 4 br House, Ouwens Casserly | $2,080,000 |
| Brisbane | 11 Newbery St, Newmarket QLD 4051, 5 br House, RW Wilston | $2,950,000 |
| Canberra | 55 Coaldrake Av, Denman Prospect ACT 2611, 4 br House, Blackshaw Manuka | $1,840,000 |
| Most affordable | ||
| Sydney | 1/20-34 Wyndham St, Alexandria NSW 2015, 1 br Unit, R&H Newtown | $620,000 |
| Melbourne | 12/80 Woornack Rd, Carnegie VIC 3163, 1 br Unit, HAR First | $310,000 |
| Adelaide | 16 Ballard St, Elizabeth East SA 5112, 3 br House, HAR – Playford | $408,000 |
| Brisbane | 17 Walcha Ct, Beenleigh QLD 4207, 3 br House, RW – Beenleigh | $523,000 |
| Canberra | 108/17 The Causeway, Kingston ACT 2604, 1 br Unit, MARQ Property | $580,500 |
