Weekend National Clearance Rate Sees Divergent Results
Kanebridge News
Share Button

Weekend National Clearance Rate Sees Divergent Results

Strong performances in Sydney, Melbourne and Adelaide were dampened by the other states.

By Kanebridge News
Mon, Aug 15, 2022 9:07amGrey Clock 2 min

Auction markets at the weekend presented split results, with most recording the highest clearance rates for recent months while other capitals fell dramatically.

As a whole, the national clearance rate at the weekend was 58.3% — lower than the 60.9% reported last weekend and well below the 78.2% recorded over the same weekend last year.

National auction numbers were higher at the weekend with 1335 listings compared to last weekend’s 1202 — but again significantly lower than the same weekend last year’s 1872 auctions.

Clearance rate declines in Brisbane (40.6%) and Canberra (33.8%) affected the national clearance rate, while the major capitals of Sydney and Melbourne performed above expectation.

The Sydney market rose sharply at the weekend, recording its highest clearance rate since May of 65.7%, which was well above the 57.8% recorded over the previous weekend=, yet lower than the 83.0% recorded over the same weekend last year.

Auction numbers were also up, with the NSW capital recording 553 listings compared to 421 and now higher than the 472 auctioned over the same weekend last year — impacted then by Covid-19 shutdowns.

Sydney recorded a median price of $1,715,000 for houses sold at auction at the weekend which was sharply higher than the $1,470,000 recorded last weekend and 5.5% higher than the same weekend last year’s $1,626,250.

Melbourne’s weekend auction market continued to rise following last weekend’s bounce in buyer activity.

The Victorian capital reported a clearance rate of 65.7% on Saturday – was again clearly above the previous weekend’s 62.1% and now similar to the 66.0% recorded over the same weekend last year.

A total of 558 homes were listed at the weekend which was similar to the 550 reported the over the previous weekend but well below the 1138 of last year.

Melbourne recorded a median price of $990,000 for houses sold at auction at the weekend which was well ahead of the $968,500 reported last weekend but 8.8% lower than the $1,085,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson; myhousingmarket.com



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
Contact: William Brush, LJ Hooker Dural 9651 1566 

 

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
Lifestyle
EV Trade War Could Spread to Luxury Cars
By STEPHEN WILMOT 12/06/2024
Money
A Killer Golf Swing Is a Hot Job Skill Now
By CALLUM BORCHERS 14/06/2024
Money
The unexpected reasons Australians are retiring earlier than planned
By Bronwyn Allen 14/06/2024
0
    Your Cart
    Your cart is emptyReturn to Shop