This week, Melbourne saw the most robust real estate market in Australia, with 879 scheduled auctions, 725 results available and a 60% clearance rate.
The highest sale in Victoria was that of 70W Toorak Road, at $3,875,000. Gowan Stubbings and Julia de Campo of Kay & Burton made this sale, the immense Victorian terrace enjoying park views and a northern rear aspect, as well as grand historic features such as marble fireplace mantels, Victorian facade and lacework balcony.
The voluminous rooms inside and landscaped gardens outside create a sense of grandeur and scale that earn the home its price-tag.
New South Wales
Not far behind Victoria, New South Wales saw 803 auctions scheduled, 559 of these results available, with a 58% clearance rate. Though Victoria held the most auctions, it was in NSW that the most impressive singular auction took place.
New South Wales’ highest sale for the week, and indeed Australia’s, was 24 Narooma Road, Northbridge, which Chris and Pamela Downie of Richardson & Wrench sold for $4,460,000. 23 metres of pristine, modern frontage create a first impression that a spacious interior lives up to, blending seamlessly with an exterior boasting pool, yard and terrace.
In Queensland, 267 auctions were scheduled, and 163 results were reported, yielding a clearance rate of 33%. Along with Tasmania and Northern Territory, Queensland held the lowest clearance rate this week. Given the state’s comparatively sizeable sample of auctions, this clearance rate is disappointing.
The highest sale is the only in the state to exceed $2 million, this being 8/25 Allambi Rise, which sold for $2,100,000. Luke Chen of Tom Offermann Real Estate facilitated this sale. Sitting on the beach, this luxurious penthouse was recently renovated, filled with glass and crisp modernity to bring it to full, sun-soaked, greatness.
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In South Australia, there were 83 scheduled auctions, yielding 61 recorded results and a 61% clearance rate. With far less auctions taking place than Victoria, NSW and, to a lesser extent, Queensland, this favourable clearance rate is less impressive than other states’ – however, it represents a solid week of real estate sales.
Of these, 20 Pier Street was the most lucrative, McCammon Real Estate’s Brett McCammon and Anton Vizzari delivering this $1,500,000 sale. Sea, pool and spa provide endless chances for leisure in this two-story home, original elegance and modern convenience combining across a seamless floor plan.
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Australian Capital Territory
In the ACT, 58 auctions were scheduled, resulting in 49 available results and a 63% clearance rate. This is the highest clearance rate seen for Australia this week. Like South Australia, the ACT sees a comparatively small market, but as the following states show this week, this scale is no guarantee of performance – as such, this remains a favourable and impressive rate.
The most lucrative sale, the $1,370,000 earned for 26 McMillan Crescent, was achieved by Bree Currall and Dan McAlpine of Belle Property. With the previous owners enjoying this home for 60 years, the historical size and design, coupled with proximity to schools, markets and restaurants make it little wonder the previous owners stayed so long and the new owners paid this price.
Perth saw 30 scheduled auctions and 19 available results, with a 42% clearance rate.
30 Queenscliffe Road was the most lucrative sale of the week, with Paul Tonich and Miles Garner of Realmark Urban – Subiaco delivering the $1,926,000 sale. A 2016 construction, this home is precise contemporary excellence, with an elevated position in an exclusive location. Luxuries such as theatre, pool and refined alfresco sit alongside spacious and elegant rooms.
Three auctions took place in the Northern Territory this week, with a resulting 33% clearance rate. The successful sale was that of 25 Legune Avenue, which Daniel Harris of Central Real Estate delivered to its $530,000 price-tag. This excellently positioned family home boasts a pool, picturesque gardens and water feature, in addition to a generous interior allowing for resort-style living.
Finally, Tasmania saw very similar results to the Northern Territory, with 5 scheduled auctions, 3 available results and a 33% clearance rate.
The recorded sale is that of 30 Old Main Road, the price reached by agent Neville Crowther of Crowther Richards Real Estate undisclosed. Originally serving as a police station, this Federation home sits on 920 metres of land represents rich history and an excellent opportunity for redevelopment or renovation.