Auction Results – June July – Download Results Here
Adelaide experienced a somewhat subdued week in real estate, though several lucrative outliers boost the numbers to a degree.
Though 89 auctions were held over the past week, only 64 results were available at the time of writing, possibly as a result of busy times at the End of Financial Year.
Despite this, a general trend of subdued results can be observed, though the remaining 25 sales could tell a different story.
This week, there were 38 of 64 properties sold, with a fairly low clearance rate at 59%. This is down from 64% last week and 75% the week prior, representing a dip that will hopefully rectify soon.
Despite this slump, the average price increased this week by $42 621, and likely boosted by the two sales in excess of $1 million.
Two properties exceeded $1 million this week, clearing the lauded figure by impressive margins. 21 Sussex Terrace and 1 Hague Avenue were sold on the same day, Saturday the 1st of July, for $1.125 and $1.25 million respectively.
21 Sussex Terrace, in Hawthorn, was represented by Peter and Eloise McMillan, and promised prestigious location, comfortable family living and such indulgences as a swimming pool and a free-standing apartment. It is not difficult to see why it fetched such a hefty price.
1 Hague Avenue, meanwhile, in Hyde Park, is a symmetrical villa laden with more than enough bluestone to earn this price tag. Steve Alexander of Klemich Real Estate facilitated this sale.
Data provided by CoreLogic indicates that the property last sold for a much more modest $540,000 in 2002, suggesting significant improvements on the 1905-built home since its purchase. Even accounting for inflation, this is a very impressive profit, the previous owners likely very happy with the result.
Steve managed this sale without need for an auction, 1 Hague Avenue being the most expensive property sold prior to auction for this past week. The nearest contender for early sales is 16A Wallis Street, in Parkside, which LJ Hooker sold prior to auction for $853,000.
16A Wallis Street was also one of only two houses sold on Tuesday, 27th of June, the price of the other property, 30 Tandanya Avenue, not disclosed.
23 properties were passed in this week, the exact same number as the previous week, while 3 were withdrawn.