Auction Figures Remain Fragile
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Auction Figures Remain Fragile

With buyer confidence low, so too are auction volumes and clearance rates.

By Terry Christodoulou
Mon, Jul 4, 2022 10:22amGrey Clock 2 min

The national auction market reported a clearance rate of 64.2% at the weekend — lower than the 65.4% reported last weekend and significantly lower than the 79.8% recorded over the same weekend last year.

National auction numbers were again lower at the weekend with just 1422 listings compared to 1911 — well below the same weekend last year’s 1869 auctions.

While these numbers are certainly low, they are steady when compared week-to-week across the country except for Canberra, the capital city a clear underperformer and recording another decline.

The Sydney auction market consolidated last weekend’s slightly improved result with a clearance rate of 63.7% at the weekend — higher than the 62.2% recorded last weekend but lower than the 76.9% recorded over the same weekend last year.

Auction numbers were however significantly lower at the weekend with 615 reported compared to the previous weekend’s 772 and again well down on the 792 auctioned over the same weekend last year.

The NSW capital recorded a median price of $1,633,000 for houses sold at auction at the weekend — higher than the $1,575,000 recorded last weekend and 8.9% higher than the same weekend last year’s result of $1,500,000.

Melbourne also reported lower auction numbers with 536 home listed at the weekend, which was significantly lower than the 848 reported last weekend and well below the 853 listed last weekend.

The lower auction volumes saw the Victorian capital report a clearance rate of 64.2% which was similar to the previous weekend’s 63.9% by well below the 768% over the same weekend last year.

Melbourne recorded a median price of $916,000 for houses sold at auction at the weekend which was significantly lower than the $1,072,500 reported last weekend and 16.2% lower than the $1,092,500 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.

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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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