It's Christmas in July as auctions heat up around the capitals
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It’s Christmas in July as auctions heat up around the capitals

Cashed up buyers will have more property options to choose from this weekend

By KANEBRIDGE NEWS
Thu, Jul 20, 2023 10:51amGrey Clock < 1 min

Winter is the new spring in Australian property circles, with scheduled auctions once again increasing this weekend, CoreLogic data shows.

Auctions across combined capital cities are up 16.7 percent week on week at a time of year when the market traditionally slows down.

Sydney leads the numbers race, with 736 properties to be put to market this weekend, representing an impressive 21.5 percent increase. The figures also represent a 9.2 percent increase on the number of homes sent to market this time last year. 

Brisbane has contributed significantly to the winter listing trend, with 172 homes ready for market this weekend, a 67 percent increase on the previous week. CoreLogic data notes that this has been heavily influenced by 29 properties set to be auctioned at an in-room event on Saturday. Adelaide buyers will also have more to choose from, with 115 properties listed for this weekend, a 12.7 percent rise on the previous week’s numbers. 

It’s a less dramatic upswing in Melbourne, with 689 properties set to be auctioned, up 6 percent from the previous week when 650 homes were listed. However, Melbourne recorded the highest clearance rate of all the capitals last weekend at 68.8 percent. Adelaide was not far behind at 68.6 percent, followed by Sydney on 67.5 percent. Perth had the lowest clearance rate at 40 percent.

The increasing number of properties entering the market come on the back of concerns about rising levels of mortgage stress among borrowers. However, data indicates that levels of mortgage arrears are still relatively low buoyed by historically high levels of employment.



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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

 

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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