This week saw a boost in auctions held and clearance rates, with healthy figures all round making for a robust and steady real estate period.
105 auctions were scheduled this week, up from 88 the previous week.
Of the scheduled auctions, 69 were recorded and 47 of these sold, resulting in a clearance rate of 68%. This is the highest clearance rate since April’s third week, which reached the same rate but with significantly fewer total sales.
This week’s $656,758 average selling price is high among recent weeks, but not exceptionally so. Four million-dollar sales pulled this figure upwards.
Third-highest of these is the sale of 9 St Anns Place, Parkside. Sharon Gray of Ouwens Casserly representing the home.
A contemporary construction; as the crisp white frontage, sleek interiors, lap pool with wall-to-ceiling glass walls surrounding, were pulled together and filled with modern amenities in 2001. The home sold for $1,205,000.
The second-most-lucrative sale of the week is the $1,210,000 sum paid for 67 The Grove, in Lower Mitcham. Jed Redden and Brett Pilgrim of Ray White Real Estate represented the property, another recent construction.
This home was built in 2002 and sprawls across five spacious bedrooms, two bathrooms and over 700 square metres. Another swimming pool sweetens the deal, CBD location the icing on the cake.
The highest-selling property of the week is of a different kind to the previous two. 2-20 New Street, located in North Adelaide, known as Nyroca House, is currently not a residential property at all.
It is instead a multi-story office building, containing 11 fully refurbished and functional main rooms – and representing an excellent opportunity for extensive redevelopment for residence. Evan Florinis and Matt King of Commercial SA Property Group represented the home, and facilitated its immense $1,870,000 sale.
This monolithic investment caps a surging period of real estate, all figures positive. Though this is likely to be a peak more so than a plateau, it is an encouraging start to the month of June.