Following the trend set by last week’s colossal numbers, the final week of October saw 163 auctions scheduled, with 117 results available. Of these, 79 sold, resulting in a clearance rate of 68%, slightly higher than the previous 65%. Where this value is similar to last week’s somewhat average figure, another far surpasses any recent result.
The average selling price for this week is $718,992, this immense figure last surpassed in April. It is a figure buoyed by an incredible 12 sales exceeding $1 million, but also dragged downwards by an odd recording within the ‘realestate.com.au’ results.
An allotment of land containing several small units was sold in Loxton, each of these units recorded as separate $330,000 sale. Discounting five of the six $330,000 sales, we are left with a more exciting average of $740,500, though this is still insufficient to surpass April’s $763,800.
Each of the million-dollar sales were integral to this astonishing figure, but it is the three highest which most noticeably stand out.
48 Prospect Road, Prospect, fetched the third-highest price for the week, at $1,410,000. Judy Morris of Klemich Real Estate facilitated the sale of this character villa, with varied opportunities both commercial and domestic. The villa has an immaculate floor plan and surprises with a cellar, sweetening this deal.
Scott Moon and Lucy Johnson of Harcourts Brock Estates have overseen the $1,575,000 sale of 59 Marlborough Street, in Malvern. This villa is of 1890s origins, has a prime location with the CBD close by and also extensive possibilities for redevelopment and expansion. The infusion of character features such as 3.5 metre ceilings and ornate joinery, lend an appealing charm and majesty to this stellar home.
Treading on the curtails of $2 million is the $1,750,000 sale of 26 Charlbury Road, Medindie Gardens. Suellen Salt and Anne Einarson attained this hefty price-tag. This is the third villa in a week overflowing with enormously expensive villas, though redevelopment is not a likely option for 26 Charlbury Road.
26 Charlbury Road is the product of award-winning builder Samuel James Homes. The home is a stunning amalgam of contemporary style and classical charm, open-plan areas and built-in theatre with projector and screen are the final push that send this property sailing to the most lucrative of the week.
If last week was a vast behemoth staggering under the weight of a lacklustre average selling price and middling clearance rate, this week is a titan of equal side, unmarred by an unfavourable average but still stooped beneath the weight of its clearance rate.
This beast is resplendent to an extent the previous was not; however, a staggering series of sales exceeding $1 million dollars, and forming the spire’s of this week’s immense crown. If November brings similar volume, and possibly a week with an unfaltering average selling price or clearance rate, this lucrative sales period could see an unrivalled week of real estate.