Auction Markets Strain Under Lockdown
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Auction Markets Strain Under Lockdown

High numbers of withdrawals saw the clearance rate dip at the weekend.

By Kanebridge News
Mon, Jul 26, 2021Grey Clock 2 min

While Auction numbers remain high – with 1944 listings reported on Saturday, July 24 – the national clearance rate suffered due to COVID-related lockdowns falling to 77.3% when compared to the previous weekend’s 80.5%, the lowest results of the year.

Clearance rates were lower in all capitals on Saturday – with Sydney and Melbourne experiencing a high volume of withdrawals – with the exception of Canberra.

In Sydney, auction numbers were sharply low – due to the COVID lockdown.

A total of 566 homes were reported as auctioned on Saturday which was well below the 872 July record set last weekend – the lowest reported on a non-holiday weekend since February 13 this year.

The clearance rate was also lower, falling to a year low 75.1% compared to the previous weekend’s 78.0%. However, it remained higher than the 70.4% recorded over the same weekend last year.

A total of 24% of reported auctions were withdrawn.

The NSW capital recorded a median price of $1,532,500 for houses sold at auction at the weekend which was lower than the $1,603,000 reported over the previous Saturday but 17.7% higher than the $1,302,500 recorded over the same weekend last year.

In turn, Melbourne’s auction market held the line on Saturday, producing relatively strong results.

The Victorian capital recorded a robust 73.0% clearance rate at the weekend – close to the previous weekend’s 73.2% but well ahead of the 47.7% recorded over the same weekend last year.

The clearance rate was again impacted by 30.6% of auctions withdrawn.

A total of 1120 homes were listed to go under the hammer on Saturday, ahead of last weekend’s previous record 1061 auctions and significantly higher than the 527 auctions over the same weekend last year.

Melbourne recorded a median price of $938,000 for houses sold at auction at the weekend which was lower than the $992,500 recorded over the previous weekend but 9.4% higher than the $857,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.

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By Robyn Willis
Fri, Aug 5, 2022 2 min

When people talk about making a seachange, chances are this is the kind of property on the NSW South Coast that they have in mind.

Open for inspection for the first time this Saturday, 24 Point Street Bulli offers rare absolute beachfront, with never-to-be-built-out north facing views of the ocean. Located on the tip of Sandon Point, this two-storey property is a surfer’s dream with one of Australia’s most iconic surf breaks just beyond the back wall.

On the lower floor at street level, there are three bedrooms and two bathrooms, including a family bathroom and an ensuite in the master suite. A fourth bedroom is on the upper floor, along with the main living area, and is serviced by its own bathroom. 

While this would make a spectacular holiday home, it is well equipped for day-to-day living, with a spacious gourmet kitchen and butler’s pantry set into the articulated open plan living area on the first floor. A separate media room to the street side of the property on this level provides additional living space. 

Every aspect of this property has been considered to take in the light and views, with high ceilings internally and spacious, north facing decks on both levels to take in views of rolling waves. If the pull of the ocean is irresistible, it’s just a 100m walk to feel the sand between your toes.

The house is complemented by a Mediterranean, coastal-style garden, while the garage has room for a workshop and two car spaces.

An easy walk to Bulli village, the property is a 20 minute drive from the major hub of Wollongong and just over an hour to Sydney.

 

Open: Saturday August 6 2pm-3pm Auction: Saturday September 3 Price guide: N/A but expected to exceed $5.3m paid in March for 1 Alroy Street 

Contact: McGrath Thirroul – Vanessa Denison-Pender, 0488 443 174