In a week of immense numbers, Victoria was host to almost 1000 scheduled auctions and homes sold for over $6,000,000, while other states went without a sale for the week.
This week, Victoria again was host to Australia’s most robust real estate market, with almost 1000 auctions scheduled, 956 in total. Of these, 776 results are available, sales amounting to a 63% clearance rate.
This is up from 879 scheduled auctions and a 60% clearance rate last week. Victoria’s most lucrative sale this week was that of 18 Selborne Road, in Toorak, which sold for $6,010,000.
Richard Mackinnon and Fraser Cahill of Marshall White facilitated the sale of this multi-levelled, seamless construction of marble, with wide windows and elegant design.
New South Wales
With very similar performance to last week, New South Wales saw 774 scheduled auctions, 529 results available and a 57% clearance rate.
As if out of desire to maintain its supremacy of spending, Sydney saw a selling price just $40,000 higher than Victoria’s immense Toorak sale, with 173 Underwood Street selling for $6,050,000.
Ben Collier of The Agency sold this 388 square metre Paddington property, a unique dual-fronted opportunity, with existing elegant, timber-floored constructions, gardens, an excellent location and extensive possibilities for redevelopment.
This sale ensures that, like last week, though Victoria saw greater volume of auctions, New South Wales held the most lucrative singular sale.
Queensland saw 289 scheduled auctions and 146 recorded, for a clearance rate of 38%, up from 33% the week prior.
35 Hipwood Road was the most expensive purchase in the state, Ray White’s Dwight Ferguson and Alexander Shean attaining a $3,000,000 selling price. Glass and timber adorn a multi-level structure with character and functionality, the Hamilton location adding allure to an already desirable property.
South Australia saw consistent figures and was among the most successful states in the nation percentage-wise, its 93 scheduled auctions yielding in 55 available results and a 64% clearance rate. Among states with more than a handful of auctions, this is the highest clearance rate in the nation, equalled by that of the ACT.
However, given the 63% achieved by Victoria, which held ten times as many auctions, this cannot be said to be the most impressive display of the week.
The most lucrative sale in SA is 137 Grant Avenue, in Toorak Gardens, a 1913 era villa for which Sally Turner of Klemich Real Estate achieved a $1,450,000 selling price. Over 1000 square metres containing gardens, heritage features such as high ceilings, ornate fireplaces and decorative timber archway, and an abundance of charm make for a luxurious family home which earns its price-tag.
Australian Capital Territory
With similar figures to SA, the ACT saw 69 scheduled auctions, 42 available results and a 64% clearance rate. This is up marginally from 58 scheduled auctions and a 63% clearance rate last week.
278 Duffy Street was the most lucrative sale, with a $1,595,000 selling price.
Stephen Bunday of LJ Hooker represented the home, another family home with a luxurious slant and a heritage influence. Proximity to Mount Ainslie gives excellent access to parks and walking trails, the lush wilderness blooming right at the edges of the property.
Not far below the ACT in terms of volume, Western Australia saw disappointing rates, with 40 scheduled auctions, 16 results available and a 19% clearance rate, down from last week’s 42%.
The most lucrative sale was that of 57 Kinkuna Way, which sold for $1,950,000. Greg Williams of Mack Hall Real Estate sits right on the beach, azure views immediate and expansive – and there is no lack of luxurious spaces from which to experience these views, between the timber sun deck, balcony, private terrace and idyllic conservatory.
This week, Tasmania and Northern Territory depicted the opposite outcomes of having a small sample size, the highest possible clearance rate in comparison to the lowest.
With just two scheduled auctions, Tasmania saw two sales, for a 100% clearance rate.
The NT, on the other hand, saw none of its three scheduled auctions yielding a sale, for a 0% clearance rate. Of the two recorded auctions, both were passed in.
As a whole, Australia saw figures generally consistent with last week, Victoria experiencing a marked spike, while states such as Western Australia and Northern Territory under-performed.