Pre-Election Property Auctions Deliver Steady Results
Kanebridge News
Share Button

Pre-Election Property Auctions Deliver Steady Results

The market was steady despite a rush of listings.

By Terry Christodoulou
Mon, May 16, 2022 9:33amGrey Clock 2 min

Capital city clearance rates were mostly steady at the weekend despite a surge in pre-election day listings and the recent increase in official interest rates.

Across the county, the national auction market reported a clearance rate of 71.4% at the weekend — similar to the 71.3% reported last weekend but lower than the 80.8% reported over the same weekend last year.

The pre-election weekend saw 2372 homes listed for auction compared to the previous weekend’s 1667 and similar to the 2401 reported over the same weekend last year.

Sydney’s auction clearance rates were steady but remain at year-low levels again. The weekend saw a clearance rate of 64.1%  — similar to the 64,6% recorded last weekend, but again slower than the 82.9% recorded this time last year.

A total of 810 Sydney homes were listed for auction on Saturday, higher than the 577 auctioned over last weekend — well below the same weekend last year’s 990.

Sydney recorded a median price of $1,690,000 for houses sold at auction at the weekend which was higher than the $1,630,000 recorded last weekend and 3.0% higher than the same weekend the previous year’s $1,641,000.

Melbourne saw a small lift in clearance rates at the weekend, up to 68.7% from the year low of 66.4% recorded the previous weekend. Both results are down on the 78.6% recorded over the same weekend last year.

The Victorian capital saw 1165 homes listed at the weekend — higher than the 767 reported over the previous weekend and similar to the 1159 listed over the same weekend last year.

Melbourne recorded a median price of $1,203,000 for houses sold at auction at the weekend which was higher than the $1,075,000 reported last weekend and also 10.1% higher than the $1,093,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, 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.

Related Stories
Property
It’s a slam dunk as a covetable $2m KDR site complete with basketball court hits the market in the Hills District
By KANEBRIDGE NEWS 18/04/2023
Property
The top 10 Australian locations at highest flood and bushfire risk
By Bronwyn Allen 11/06/2024
Property
I.M. Pei’s Son Speaks of His Father’s Legacy of Creating ‘Places for People’ Ahead of a Retrospective in Hong Kong
By ABBY SCHULTZ 11/06/2024
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.

Related Stories
Money
A Killer Golf Swing Is a Hot Job Skill Now
By CALLUM BORCHERS 14/06/2024
Property
It’s a slam dunk as a covetable $2m KDR site complete with basketball court hits the market in the Hills District
By KANEBRIDGE NEWS 18/04/2023
Money
Apple Sued by Employees Alleging Unequal Pay for Women
By ERIN MULVANEY 14/06/2024
0
    Your Cart
    Your cart is emptyReturn to Shop