Auction Markets Ease
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Auction Markets Ease

Make no mistake, it’s still red hot.

By Kanebridge News
Mon, Oct 18, 2021 8:45amGrey Clock 2 min

The country’s auction markets have eased slightly at the weekend, yet results clearly remain in favour of sellers as the spring boom rolls on.

The national weekend clearance rate was lower for the second consecutive weekend – down from 86.1% to 83.9% — but is still well above the 70.7% reported over the same weekend last year.

Higher auction numbers may be contributing to an easing of clearance rates with numbers up from the previous Saturday’s 1858 to 1970 – more than double the 916 auctioned over the same weekend last year.

The Sydney market was lower again at the weekend, down from the previous weekend’s 86.6% to 83.6%. This result is still higher than the 78.6% recorded over the same weekend last year.

It’s the first time in six weekends that Sydney’s clearance rate has fallen below 85%.

Auction numbers were up, with 677 homes were listed for auction at the weekend — higher than the previous weekend’s 618 and up on the 639 auctioned over the same weekend last year.

Sydney recorded a median price of $1,675,000 for houses sold at auction at the weekend which was again lower than the $1,712,500 reported over the previous Saturday but 22.3% higher than the $1,370,000 recorded over the corresponding weekend in 2020.

Melbourne’s market is on the ascent with the Victorian capital posting a clearance rate of 77.0% on Saturday — similar to the previous weekend’s 76.6%, and well ahead of the 63.0% recorded over the same weekend last year.

A total of 993 homes were listed for auction at the weekend which was up when compared to the 932 from the previous weekend.

Melbourne recorded a median price of $969,500 for houses sold at auction at the weekend which was again lower than the $1,060,000 recorded over the previous weekend but 16.4% higher than the $833,000 recorded over the same weekend last year.

Record-level clearance rates however may ease over coming months as the typical wave of late season listings hits the markets – amplified by the easing of lockdown restrictions.

Data powered by Dr Andrew Wilson of My Housing Market.



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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It’s a slam dunk as a covetable $2m KDR site complete with basketball court hits the market in the Hills District

The ball is in the buyer’s court with this knockdown/rebuild opportunity

By KANEBRIDGE NEWS
Tue, Apr 18, 2023 2 min

Glenhaven in Sydney’s Hills District is one of those areas that locals tend to keep to themselves. Leafy with large blocks on offer, the suburb takes its name from its valley location, with the northern end originally known as the Glen and the southern end called the Haven. 

En route from Parramatta to the Hunter, Glenhaven has become an ideal place for growing families in search of a little more space, or even room to house several generations under one roof.

The challenge is finding properties that tick all the right boxes.

As demand for trades and supply chain issues continue to ease, now could be the right time for a knockdown/rebuild project for would-be buyers looking to create their dream home.

Fairmont Homes specialises in knockdown/rebuild projects in Sydney. General manager at Fairmont Homes, Daniel Logue, said there are key features to look for when choosing a knockdown/rebuild site.

“The key items we look for are the site falling to the street, not to the rear, to help with stormwater drainage as well as access to the site,” he said. “Neighbouring property front setbacks are also important. In some older areas, the older houses are set closer to the street, meaning your new home will have to be set to suit.

“Value for money and the return on the end sale price of the home is another issue.”

If possible, he said designing a home that meets the criteria of the Complying Development legislation will speed up approvals considerably.

While suitable knockdown/rebuild sites can be hard to find in Glenhaven, there are still hidden opportunities if you know where to look.

One block at 158 Gilbert Road, Glenhaven is ideally suited for rejuvenation. With almost 850sqm to play with, it slopes down to the street and sits between neighbouring properties that have already been stylishly updated.

 

 

An existing basketball court at the rear could provide the perfect teen backdrop to a family home, or it could make way for a larger house with landscaped gardens and pool. Alternatively, it could be the perfect position for a cabana or granny flat to serve as in-law accommodation or a source of secondary income.

With recent sales of completed homes in nearby streets reaching well above $5 million, it’s a great opportunity to make a slam dunk of a buy into one of Sydney’s best kept secrets.

Address: 158 Gilbert Road, Glenhaven
Price guide: $1.8 million
Inspection: By appointment only

 

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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