Winter Fails To Cool Hot Auction Market
Kanebridge News
Share Button

Winter Fails To Cool Hot Auction Market

Records continue to tumble across the Australian capitals.

By Terry Christodoulou
Mon, Jun 21, 2021 10:32amGrey Clock < 1 min

This past Saturday, saw a June record 2888 homes reported for auction across state capitals.

As expected, this figure was well ahead of the previous holiday weekend’s 1413, and nearly three times the 1019 listed over the same weekend last year. It was the second-highest number of listings for the year, only surpassed by the 3118 recorded over the pre-Easter Saturday of April 27.

Despite the record numbers, the market continues its firm ascent with a national clearance rate of 82.3% achieved nationally. Saturday’s national result was also the highest recorded for six weeks.

Sydney’s recorded clearance rate of 80.8% was up on the previous weekend’s 77.8% and well ahead of the 67.9% recorded over the same weekend in 2020.

The NSW capital reported 1036 auctions on Saturday, just below the June record of 1048 set two weeks ago.

Further, the median price for houses sold at auction at the weekend in Sydney was $1,610,000, higher than the $1,555,000 reported over the previous Saturday and 19,9% higher than the same weekend last year.

In Melbourne, 1566 auctions were reported which smashed the June record 1379 set just two weekends ago – and was well above the 480 reported over the same weekend last year.

Melbourne recorded a clearance rate of 84.4%  — a dramatic rise compared to the 69.0% reported the previous weekend. The median price of $979,000 for houses sold at auction proved 10% higher than the same weekend last year.

Data powered by Dr. Andrew Wilson of 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