The late stages of September bring an abundance of sales, with Victoria and NSW each seeing over 1000 scheduled auctions. Clearance rates could not quite match these soaring figures, however, with only one state exceeding 60%.
Victoria saw the most robust real estate market this week, with 1,254 scheduled auctions and 1,008 results available, yielding a 56% clearance rate.
Though an increase in volume can be seen since early September, so too can a drop in clearance, 63% becoming 56% – this drop is not drastic, and can be partially attributed to the increase on volume.
The most lucrative sale seen in Victoria is that of 60 Caroline Street, which Nicholas Brooks and Mark Harris of Marshall White delivered to a $5,500,000 selling price.
This union of heritage beauty and contemporary convenience was constructed circa 1903 and has been upgraded and modernised since, the deal sweetened by prestigious location and proximity to Botanic Gardens, shops and schools.
New South Wales
New South Wales saw less auctions scheduled and recorded than Victoria, but, as is often the case, held the single most lucrative sale in Australia for the week.
Of 1,016 scheduled auctions, 681 results are available, 57% of these resulting in sales – New South Wales has seen very similar clearance rates throughout September, holding steady.
The sale of 161 O’Sullivan Road was the highest-yielding sale in the state and the nation, with a $6,575,000 price-tag.
Between the Harbourside location, Hamptons inspiration and three levels of sunlit luxury, the inspiration for this enormous selling price becomes evident. The four bedrooms, heated mosaic-tiled pool and expansive open-plan layout complete the package, Michael Pallier of Sotheby’s International Realty netting this behemoth of a sale.
This week, 310 auctions were scheduled in Queensland, with 166 results available. A 37% clearance rate is consistent with the state’s figures throughout September, Queensland struggling to clear much more than a third of auctioned properties.
This does not mean the state is without its heavy-hitters, with the sale of 49 Mark Street going through for $2,525,000.
Another three-level home, this 1969-built monolith makes a stunning first impression of black brick and verdant greenery, making a promise which Vaughan Keenan and Doug Stronach of Grace & Keenan saw to fruition.
From the alfresco entertaining area to the informal living space and three expansive bedrooms, each of this properties’ stellar spaces lives up to its potential.
In what is an impressive display for the state, South Australia was host to 128 scheduled auctions, of which 80 results are available.
A 65% clearance rate is the highest in Australia by a significant margin, no other state exceeding 60% – South Australia has seen steadily increasing clearance throughout September.
Contributing to this stellar sales ratio is South Australia’s most lucrative sale of the week, 7 Oxford Terrace. Hamish Mill of Harcourts Williams secured $1,410,000 for this Unley-located 1915 villa – with an five-bedroom interior of luxury, light and custom luxury, and an exterior featuring alfresco, pool and water feature, the new owner has happy days ahead of them.
Australian Capital Territory
With similar volume to South Australia, but an inferior clearance rate, the ACT saw 118 scheduled auctions and 93 available results. The 56% clearance rate is a drop from the mid-60s rate seen throughout September.
The ACT’s most lucrative sale was 12 Baker Gardens, a $2,150,000 price-tag scored by James Carter of Luton Real Estate.
The property is a refined, efficient 2015-built home, elegant, cavernous spaces seamlessly connected – a victory in modernity, with a six-star energy rating and all the conveniences a buyer could imagine.
In Western Australia, the market saw 43 scheduled auctions, 24 available results and a 21% clearance rate. Western Australia has been sporadic throughout September, revisiting these lows with sales making up only a fifth of results.
The highest sale in WA was 47 Ashby Street, selling for $1,500,000. Dean Demos of Ray White sold this vast lot, which contains over four hectares of rural excellence, a four-bedroom house in the centre making for a spacious residence in this pocket of nirvana.
Northern Territory saw an increase in its subdued market, 9 scheduled auctions yielding 7 results available and a 57% clearance rate – avoiding the woes of other states, albeit with a small sample size.
Maria Georges and Ross Tsounias of Elders Real Estate facilitated the state-high $575,000 sale of 26 Pandanus Street, a supremely located allotment with countless development opportunities and proximity to schools, shopping and business districts, and the beach.
This week, Tasmania saw no recorded real estate activity, but the overall Australian real estate market was very active – over 2000 auctions scheduled between Victoria and NSW alone, though clearance rates were unexceptional save for South Australia’s.