Auction Markets Feel COVID’s Bite
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Auction Markets Feel COVID’s Bite

Tightened restrictions clearly impacted auction markets in Australian capitals.

By Terry Christodoulou
Mon, Aug 16, 2021 10:05amGrey Clock < 1 min

A total of 1872 auctions were reported nationally at the weekend (August 14), well below the previous weekend’s record August offering of 2100 but above the 725 auctioned over the same weekend last year.

The steep decline in national listings was largely caused by Sydney and Melbourne’s COVID lockdowns, listing 472 and 1138 auctions respectively.

The national clearance rate fell at the weekend down to 78.2% from 81.5% the previous weekend.

Sydney reported a strong clearance rate of 83.0% at the weekend – equal to last weekend’s result and well ahead of the 65.9% recorded over the same weekend last year.

It marks the first time the NSW capital has recorded consecutive weekend clearance rates above 80% since June, however it reflects fewer choices available for buyers.

Sydney recorded a median price of $1,626,250 houses sold at auction at the weekend – lower than the 1,695,000 reported the previous Saturday but 22.3% higher than last year’s figure.

Melbourne’s auction market tracked backwards reflecting the impact of lockdown restrictions.

The Victorian capital recorded a clearance rate of 66.0% on Saturday, well below the previous weekend’s 71.7%.

The result is Melbourne’s lowest clearance rate since October 17 2020, impacted by a high number of withdrawals – up to 41.5% from the previous weekend’s 29.5%

While listing numbers fell from 1301 to 1138, there is still considerably more volume in the market than this time last year, the corresponding 2020 weekend reporting just 124 auctions.

Melbourne recorded a median price of $1,085,00 houses sold a auction at the weekend – higher than the $960,000 of the previous weekend and 39.6% above the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.



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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
Contact: William Brush, LJ Hooker Dural 9651 1566 

 

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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