For the previous week, the AFL Grand Final reduced all states’ volume, decimating Victoria’s usual real estate cume, New South Wales reigning in its stead.
In light of the AFL grand final, Victoria experienced a fraction of the auctions it would usually see in a week.
While the week prior saw 1,254 scheduled auctions, this week saw only 74, with 54 results available and a 56% clearance rate. Despite the dramatic drop in volume, this clearance figure is consistent with the mid-50s observed last week, though below the 60-plus rates in early September.
The most lucrative sale of the week was that of 49 Burgundy Drive, which Jack Zhang and Kent Chan of VicProp sold for $2,100,000 in the suburb of Doncaster. With a creamy exterior like a multi-tiered cake, served upon an excellent and exclusive locale, seamless living and luxury features earned every cent of the price-tag.
New South Wales
New South Wales also saw a drop in volume, significant though not nearly as drastic, with last week’s 1,016 auctions scheduled and 681 available becoming 724 scheduled auctions, with 584 results available. So too did the clearance rate, with its 43% clearance rate 10% lower than those seen throughout the rest of September.
The highest sale in the state and country was 5 Devon Place, which sold for $6,000,000. Jake Rowe and Ben O’Brien of Rowe Partners Real Estate facilitated the sale of this luxury retreat, spread over roughly 1,800 square metres and boasting tennis court, swimming pool and an expansive balcony agape at the green-blue Northerly sea views.
Queensland saw a similar drop to Victoria’s with auction numbers and clearance rate down by roughly 100 and 10% respectively. The state saw 228 scheduled auctions and 174 results available, as well as a disappointing 27% clearance rate.
Jason Adcock of Adcock Prestige attained a state-high $3,000,000 for riverfront property 41 Brisbane Corso, an arresting spectacle of intricate glass towering over resplendent gardens – in few other homes would you find flawless contemporary design such as this.
With a reduced 48 scheduled auctions, South Australia saw 41 results available and a 61% clearance rate.
Sam Oborn of Harcourts Real Estate facilitated the $950,000 sale of 360 Paechtown Road, adjacent to Hahndorf. Spread across 12 acres of prime equestrian land, this property contains a charming home and gardens, as well as the facilities necessary to house horses, sheep and cattle – a prime opportunity eagerly snapped up.
Australian Capital Territory
Sliding by 50 auctions, the ACT was host to 70 scheduled auctions, with 63 results available, and a 56% clearance rate.
Stephen Bunday of LJ Hooker represented 23 Higgins Crescent, the home selling for $1,600,000. Located in the exclusive Corroboree Park suburb, constructed circa 1927, this picturesque home is aesthetic excellence, from the rose gardens to the restored heritage features, including ceiling art and open fireplace.
Western Australia’s usual market was quartered, with 12 scheduled auctions, 10 results available and a 30% clearance rate.
The state’s most lucrative sale, 47 Kingsmill Street sold for $741,000 due to the efforts of Jim Henneberry and Victoria Thoegersen of Property Shop. This home boasts 1200 square metres of beachside excellence and warm heritage character, extensions adding crucial bedrooms and bathrooms.
Where most states saw a reduction in volume, Northern Territory saw a marked increase, though this could indicate an increase in reporting rather than actual real estate activity. Venturing far beyond its usual single-digit total, NT this week was host to 38 scheduled auctions, 36 available results and a 17% clearance rate.
The most lucrative sale is that of 1 Fitzroy Court. Chris Deutrom of Knight Frank fetched this contemporary four-bedroom home its $492,500 sum, spacious bedrooms and in-ground swimming pool boosting the price.
Tasmania’s market was seemingly unaffected by the Grand Final, experiencing a uniform 4 scheduled auctions, 2 results available and 50% clearance rate.
The only Tasmanian sale for which a price was disclosed is that of 5 Chris Street, for $311,000 – Phillipa Jenkins of Woolcock Partners sold the 1958-built quarter-acre opportunity, refurbished, rewired and ready for its new owner.
Most states saw a marked to drastic downturn in the wake of the AFL Grand Final, Victoria most cripplingly struck, Queensland seeing an uncharacteristic spike and NSW holding strong in Victoria’s stead.