Weekend Auction Markets Low But Largely Steady
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Weekend Auction Markets Low But Largely Steady

While the home auction clearance rate is trending lower, the market is showing signs of stabilisation.

By Kanebridge News
Mon, Jul 25, 2022Grey Clock 2 min

Weekend auction markets continue to report similar results, with buyer and seller activity moderated compared to previous months.

The national auction market reported a clearance rate of 60.1% at the weekend — slightly down on the previous weekend’s 60.8% and significantly lower than the 77.3% recorded over the same weekend last year.

Saturday’s results were once again the lowest clearance rate since lockdown-impacted August 2020.

National auction numbers were higher at the weekend with 1487 listings compared to last weekend’s 1442.

While the Sydney market continues to trend lower, it is stabilising albeit at the lowest levels since lockdowns in April 2020.

 The NSW capital recorded a clearance rate of 57.9% at the weekend — similar to the 58.0% recorded the previous weekend but well below the 75.1% of the same weekend last year.

The number of residences auctions was lower at the weekend with 575 reported compared to the previous weekend’s 597 and higher than the 566 of the same weekend last year.

Sydney recorded a median price of $1,505,500 for houses sold at auction at the weekend which was slightly lower than the $1,515,000 recorded last weekend and 1.8% lower than the same weekend last year’s $1,532,500.

Melbourne’s weekend auction market continues to produce steady results with the impact of higher interest rates having an effect on buyer confidence.

Melbourne reported a clearance rate of 607% on Saturday – lower than the previous weekend’s 60.4% and lower than the 79% recorded on the same weekend last year.

A total of 627 homes were reported listed in the Victorian capital at the weekend — higher than the 598 reported over the previous weekend but again well below the 1120 of the same weekend last year.

Melbourne recorded a median price of $1,000,000 for houses sold at auction at the weekend which was higher than the $923,000 reported last weekend and 6.6% higher than the $938,000 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