The typically slower July to middle of winter auction market heated up with Sydney closing in on a smashing 81% clearance rate. Lurking around the 80% boundary for almost three months now, Sydney finally found an opportune auction and came out with a sensational 81% clearance. The weekend before the 81% clearance had closed at 77.5% and had set up hopes of an 80 or higher percentage of clearance rate.
A number of big properties that had been listed for the weekend made the high clearance rate possible. Compared to 263 properties which were listed during the same weekend the previous year, and 278 properties which had been listed the week prior to that, a solid 306 properties went up for auction over the weekend.
High clearance rates
When comparing the clearance rates region wise, the southern region of Sydney showed a remarkable 87% clearance – the highest for the weekend. Not to forget is the fact that the south also had the largest number of listings and still cleared up at a whooping 87%. Following close behind was the north coast, its clearance rate being 86%. The weekend also saw the east region draw up a clearance rate of 85%. All in all, it was a great weekend for the real estate and property market.
Some hot shot sales that deserve a mention here are a 5 bedroom home in south Sydney, located in Hurstville, at 26 Taunton Road, that got sold for $1,380,000. Then there were 2 four bedroom houses which went for $1,330,500 and $1,187,000. These included one in Woolooware, at 36 Edinburgh Crescent and another in Taren Point at the 78 Woodlands Road respectively. Another house that went up for more than a million was a three bedroom home in Monterey at 230 the Grand Parade ($1.3 mi).
For $1,705,000 another three bedroom house at 1 Carlow Street in the northern region of Sydney was sold. A similar three bedroom property in Gladesville at the 39 Sunnyside Street was sold for $1,570,000. In the east, a four bedroom home was reportedly sold for a little over 2 million. The costliest property that got cleared at the auction was a four bedroom house in Randwick at the 48 St Marks Road, which reportedly went for $2,350,000. While there were lavish houses sold for exuberantly high prices, smaller affordable sales were also made over the same weekend. The title of the most affordable sale went to a three bedroom house in Wamberal at 753 the Entrance Road which got sold for $320,000.