Melbourne Auctions

A newly constructed Bentleigh townhouse topped Melbourne's weekend apartment auction results when selling at $2,253,000.

The four bedroom townhouse (pictured) had come with a $1,690,000 - $1,850,000 price guide.

Jellis Craig marketed the offering as also having two studies and 3.5 bathrooms, with double garaging.

It featured solid Tasmanian Oak floors, high ceilings and marble-look tiles.

The 780 sqm Buckingham Avenue site had been secured in 2018 at a $1.8 million cost with Cordell Connecting advising late 2019 Glen Eira council approvals for the duplex costing $760,000.

A Richmond townhouse was the next priciest sale, snapped up before its scheduled weekend auction at $2 million.

The 2/76 Regent Street offering had been listed with $1,450,000 to $1,550,000 price guidance.

RT Edgar marketed it as having three bedrooms, two bathrooms and a powder room, spread over two levels with lift .

There was with secure rear remote garaging for two vehicles via Little Hoddle Street in the complex designed by Mark Richards Architects.

In Melbourne, 1,035 auctions were held across the city returning a preliminary auction clearance rate of 77 percent, according to CoreLogic.

Apartment and townhouses secured just a 62 percent success rate.

Sydney recorded a preliminary auction clearance rate of 82 percent as post Easter volumes rose, with apartments and townhouses securing a 78 percent clearance rate.&nbsp;

There were 814 auctions held across Sydney, up on the Easter week’s 404 auctions.

The dearest advised apartment sale across Sydney was $2.45 million in Manly, with ocean views. The Bonner Avenue two bedroom apartment last sold at $360,000 in 1991.

There was also a Darling Point apartment on the market for the first time in more than 60 years that sold for $1.7 million which saw the proceeds directed to support nurses in Sydney’s eastern suburbs.

Adelaide, Brisbane and Canberra all recorded preliminary auction clearance rates above 80 percent, with Canberra at 90 percent.

Canberra saw 70 percent of its apartment find buyers.

<h2>Popular Melbourne &amp; Sydney projects:</h2>

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The 26A Buckingham Avenue Bentleigh townhouse sold for $2.253 million

jchancellor

New townhouses top weekend apartment auction results

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The demand for property in Victoria reached record levels in February.

Some 84.8 per cent of the 3,000 properties that went to auction sold under the hammer, the Real Estate Institute of Victoria found.

It was also the highest clearance rate of any month over the last 11 years, topping an old 2010 record which saw an 84 per cent clearance rate.

There were 17 suburbs which saw a perfect auction run, clearing 100 per cent of its properties at auction.

The likes of inner city Hawthorn East, Brunswick East, Collingwood and Fitzroy North saw all of its homes sell.

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Also scoring a perfect game were Ferntree Gully, Rowville, Seaford, Ashburton, Blackburn South, Fawkner, Wantirna, Boronia, Fairfield, Hillside, Seddon, as well as the bayside suburbs Sandringham and St Kilda West. 

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Reservoir, Coburg, and Bentleigh East beat out the rest to land as the top selling auction suburbs for February 2021, clearing 44, 37, and 35 auctions respectively, while 11 suburbs at least doubled their auction sales compared to same month in 2020.  

The best improvements on last year are in Sunshine North, Dingley Village, Gladstone Park, Ashwood, Albert Park, Fitzroy North, Doncaster, St Kilda West, Montmorency, Hoppers Crossing, and Templestowe.  

The REIV put the stellar results down to government incentives for first home buyers, mortgage repayment holidays and low interest rates, as well as pent up demand following the COVID-19 enforced lockdowns which saw thousands of auctions cancelled.

 
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There were 17 suburbs which saw a perfect auction run, clearing 100 per cent of its properties at auction

Joel Robinson

Victoria sees highest February auction clearance on record

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There are 1,144 homes scheduled for auction across the combined capital cities this week, a slight increase on the 1,046 auctions last week and lower than the 1,415 last year.
In Sydney, 679 auctions are scheduled across the city, up on the 668 last week and also higher than scheduled volumes from one year ago (503).
The number of Sydney auctions has been trending higher over the past three months and auction volumes have been consistently above last year’s level since the last week of June.
There are 235 Melbourne homes scheduled for auction this week, an expected rise on last week’s volumes (191), which saw 33% of auctions withdrawn from the market.
The low auction volumes aren’t surprising, considering stage four restrictions remain in place.
Across the smaller cities, scheduled volumes are set to be higher across all cities but Tasmania where no auctions are scheduled in for this week.
<a href="https://www.propertyobserver.com.au/images/2020/8/20/CL%20AUG%2016.JPG" target="_blank">Click to enlarge:</a>
<img src="https://www.urban.com.au/images/2020/8/20/CL%20AUG%2016.JPG" alt="">
Ray White live listings are up nationally 11 per cent across Ray White, with a month to date clearance rate of 59.6 per cent.
Ray White offices are gearing up for a strong weekend in NSW with 60 auctions scheduled across Sydney.
In the morning, Ray White Drummoyne Agent Angela Saidi will be auctioning the sought after 2/69 Tranmere St, Drummoyne (pictured in title) unit.
The two bedroom unit has already had 90 groups through inspections and has a price guide of about $800,000. Ms Saidi said prospective buyers have been mostly made up of first home buyers along with a couple of investors.
<img src="https://f.datasrvr.com/f1/420/57811/Caringbah.JPG" width="640" data-imagetype="External">
Also in the morning, Caringbah townhouse at 1/5 Oleander Parade (pictured above) is scheduled for auction, capping off a three and a half week campaign that saw 62 groups through the property.
Ray White Caringbah Principal Wendy Samrani said with a price guide of $900,000 to $1 million the three bedroom home represents good value in the area.
“Many want to get into the area but can’t find a house in Caringbah for under $1.15 to $1.2 million - especially with stock levels so low and hardly anything similar on the market,” she added.
Ms Samrani sold a similar neighbouring townhouse in the same development six weeks ago for $907,500.
In the afternoon, 16 Clarence Road will go under the hammer to a new family through Ray White Rockdale Agent Nicholas Economos with New South Wales Chief Auctioneer Alex Pattaro calling the auction.
Ray White Surry Hills | Alexandria | Glebe | Erskineville Associate Director Matthew Carvalho will also be auctioning 127 Denison St, Camperdown later in the afternoon. The two bedroom terrace home has seen strong interest from young buyers and has a price guide of $1.1 million.
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j.ballantyne1990-6AQqhLzZaK

Sydney auction volumes have been trending higher since June

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Melbourne’s clearance rate dipped to 46 per cent at the weekend after the return to stage three restrictions.
There were 417 scheduled auctions but just 168 results reported to Domain.
Some 149 properties were withdrawn from auction.
It was 57 per cent on the prior weekend.
The Victorian current rules end August 19.
"Melbourne’s weekend auction market tracked sharply backwards at the weekend with predictably significant withdrawals dragging down the clearance rate to its lowest point since early May," Dr Andrew Wilson at My Housing Market said.  "Although the Melbourne market suffered dramatically from the reinstatement of the coronavirus lockdown this week, other capitals continued to perform solidly overall," he noted.
The number of properties selling before auction, rather than under the hammer, is on rise across Sydney.
Sydney’s preliminary clearance rate was 64 per cent, jumping from last week’s 62 per cent, after 452 scheduled auctions and 255 reported results. 
It included 67 auctions withdrawn across the city.
The top sale was the five-bedroom, double-storey home at 3/85 Raglan Street, Mosman (pictured in title) for $4.55 million through Belle Property agent Stefan Bertram.
The dearest in Melbourne was $2,802,500 in Carlton. The 1018 Drummond Street offering was a four bedroom house. 
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Melbourne’s clearance rate dips to 46 per cent after return to stage three restrictions

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Victorian auction gatherings have again been limited as spike in COVID-19 cases has prompted warnings.
Amid the rising cases, the State Government has rolled back plans to allow up to 50 at auctions from today, instead keeping the cap at 20.
Victorians are also being urged to stay away from six local government areas in a dramatic escalation of efforts to prevent a second wave of the coronavirus pandemic.
The national medical expert panel says it “strongly discourages travel to and from” the areas of Hume, Casey, Brimbank, Moreland, Cardinia and Darebin.
There are collectively responsible for 42 active cases.
The tough limits have been slapped on household visits and outdoor gatherings after 25 cases were confirmed on Saturday and another 19 cases were confirmed yesterday.
Victoria recorded 116 of the nation’s 141 new cases in the past week.
Only 20 people will be able to attend public auctions until July 12.
The earlier announcement was that public auctions in Melbourne would have been able to have up to 50 people attend from midnight on Sunday, June 21.
Premier Daniel Andrews said the number of new COVID-19 cases throughout last week halted plans to ease restrictions.
“As we’ve seen across the world, this virus has the ability to turn a few cases into hundreds in a matter of days,” Mr Andrews said on Saturday. 
“That’s why we also need to delay an increase to gathering limits in businesses and community facilities.”
 
 
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Victorian auction gatherings have again been limited amid spike in COVID-19 cases

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The REIV is forecasting a busy auction weekend in Melbourne.
1,144 auctions are currently scheduled in Victoria, well up from the 410 that took place last week during the the Moomba/Labour day festivities.
This volume is higher than the 186 auctions that took place during tast year. 
The number of auctions scheduled this weekend are up from the 920 which took place this week last year.
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Clearance rates reached 68.6% last week.
Sydney is seeing a slowdown in auction volumes this week with 753 auctions scheduled to go under the hammer, down from 830 last week.
However that is still higher than this time last year when 638 auctions took place.
Across the smaller auction markets, Perth is expecting fewer auctions week-on-week.
Howevere Adelaide, Brisbane, Canberra and Tasmania will all see volumes rise over the week, according to CoreLogic.
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Melbourne auction volumes surge following Moomba long weekend

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The REIV is forecasting a slow auction weekend this Moomba in Melbourne.
Only 410 auctions are currently scheduled in Victoria.
However this volume is higher than the 186 auctions that took place during the Moomba/Labour day festivities in Victoria last year. 
This is significantly less than the 1,345 that took place last weekend, which was much busier than that week last year.
During that time last year, 891 auctions took place. 
Plus clearance rates were up nearly 25%, 80% compared to 57%.
The Moomba Festival this year runs from March 6th to March 9th coinciding with the long Labour Day weekend
One vendor undeterred by the festivities is auctioning off their <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-132963546" target="_blank">107/565 Flinders Street</a> property (pictured above).
The one bedroom, one bathroom apartment sits on a 62 sqm block.
It goes to auction with a $350,000 - $370,000 price guide.
Sydney is also seeing a slowdown this week albeit not as drastic with 796 homes set to go under the hammer this week, lower than the 1,087 auctions held last week at final figures, according to CoreLogic data.
Their findings show that Perth is the only capital city market expected to see a rise in volumes over the week, with volumes set to be lower across Adelaide (-25.9%), Brisbane (-17.6%), Canberra (-50.6%) and Tasmania (1 scheduled auction)
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Melbourne auction listings slow this Moomba

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This Saturday Melbourne sees the highest volume of homes go under the hammer for the year so far.
There are 919 auctions listed for Saturday, beating the year’s previous high point of 900 auctions held on the last weekend of February 23, Domain figures show.
<div class="in-content-ad">It is the traditional busy weekend before the AFL Grand Final public holiday long weekend, which sees a big drop homes going under the hammer.</div>
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<div class="in-content-ad">On the same weekend last year, 1029 auctions were scheduled. </div>
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Volumes down on 2019 pre-AFL grand final auction weekend  

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All five of the busiest suburbs for auctions this week are in Melbourne with Reservoir coming in first place hosting 28 auctions.
In second is Mount Waverley (21) and third Glen Waverley (19), while rounding out the top five Bentleigh East and Richmond are set to hold 17 auctions each this week.
The number of homes scheduled to go to auction this week is set to rise across the combined capital cities with CoreLogic currently tracking 2,602 auctions, up from 2,386 over the previous week.
Melbourne accounts for 51 per cent of all auctions this week with just over 1,300 homes scheduled to go under the hammer, increasing from 1,127 last week.
Sydney volumes are sitting at similar levels week-on-week with 845 auctions currently on the radar, compared to 844 last week.
Across the smaller auction markets, Adelaide will see fewer homes taken to auction week-on-week, while Brisbane, Perth and Tasmania will see auction activity increase.
Canberra will see little change in auction volumes when compared to last week. 
<img src="https://www.urban.com.au/images/2018/11/15/Auctions%20this%20week%20Nov%2015.JPG" alt="" width="648" height="480">
Reservoir's weekend listings include 28 Bray Street, Reservoir (pictured above).
The four bedroom two bathroom house comes with a price guide of $840,000 to $895,000.
Set on 812 sqm the home features a double car garage.
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Reservoir is the busiest auction suburb this week

<html><body>New REIV data reveals that price growth continued in regional Victoria, but not in Melbourne during the three months ended 30 June 2018. While median house prices in the state’s regions rose four per cent to $419,500, they dipped by 0.6 per cent to $840,000 in the Melbourne metro area. The result in Melbourne was due to a fall of 0.8 per cent in median prices achieved at auction, according to the REIV, defying the median lift of 2.3 per cent in private sales of houses. The correction was apparent in Inner Melbourne, where the overall median house price dropped 4.9 per cent to $1,459,000 and in Middle Melbourne, which fell 5.4 per cent to $974,500. The Outer Melbourne house median edged up by 0.5 per cent to $681,000. Unit and apartment median price in regional Victoria increased by 3.7 per cent to $304,500, while the metro median was up by 0.5 per cent to $604,000, indicating a continued interest in smaller properties. REIV President Richard Simpson said that despite lower auction clearance rates and fewer overall sales, there were some sectors of the market that were still performing well. “2017 was a bumper year and while the trendline has flattened, despite the fall in median house prices in the June quarter, median prices are still up this calendar year for both houses and units, in Melbourne and in the regions,” Mr Simpson said. “There was continued growth last quarter outside Melbourne, and not just in, or near, our major regional centres of Geelong, Ballarat and Bendigo. “The best performing regional suburbs over the past three months were Wonthaggi, on the Bass Coast, where the median house price jumped 14.9 per cent to $309,000; Kyneton, in the Macedon Ranges, with a 10.7 per cent rise to $570,000; and Wallan, in Mitchell Shire, where the median increased by 10.5 per cent in the quarter to $484,000. “The first-home buyers’ concession has been a boon for regional areas. A new entrant to the property market buying a house at the regional median will pay no stamp duty, while a first home buyer of an apartment in Melbourne at the median price would pay stamp duty of nearly $25,000. “Whether for reasons of housing price or a change in lifestyle, more prospective buyers are willing to look to regional Victoria to purchase. The possibilities of better transport connections with Melbourne make that option even more palatable. “Melbourne's outer perimeter continues to grow. Small increases in the June quarter mean that the median prices for both houses and units have risen over 10.5 per cent from a year ago. “Auctions continue to be popular all over Melbourne, but clearance rates have fallen from the lofty highs of early 2017,” Mr Simpson said. </body></html>

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