It was a weekend for the “renovator’s dream” as several dilapidated properties went under the hammer to end the 2016 spring auction market with a flourish.

There were 400 more weekend auctions across Sydney and Melbourne, which accompanied by early signs of rising fixed interest rates, did little to dent buyer enthusiasm.

Sydney’s preliminary auction clearance rate of 81.9 per cent was up on the previous weekend’s 79.6 per cent, while Melbourne’s 76.9 per cent rate was slightly down from the 79.4 per cent rate of the weekend before, according to Corelogic.

In Melbourne’s Albert Park, five bidders competed for 33 Little Page St, paying $2.572 million for the brick warehouse under a rusted roof on 193 square metres.

Last sold for $40,000 in 1982, it went to a Camberwell buyer who will convert the space into a family home, according to the Herald Sun.

The rundown warehouse is in a premium spot. Photo: Marshall White

At Fitzroy, $677,000 was paid for a dilapidated terrace where the agents had given a price guide of mid-$500,000.

A builder secured the offering at 11 Henry Street which came with permits for a double-storey home with a rooftop terrace while keeping the heritage-protected 1860s facade. 

It last sold in 2014 at $510,000, and now comes with artwork by street artist Rone, who recently had a local exhibition that included photographs of murals painted in abandoned houses throughout the city.

In Box Hill, a knockdown home on 646 square metres sold to one of two competing apartment developers for $4.5 million.

The 23 Irving Avenue property last sold in 1993 for $133,000.

The house in Box Hill sold for $4.5 million. Photo: Woodards

Woodards agent Helena Chow told Domain the sale was largely due to the property’s position, which overlooks Box Hill Gardens, and its potential for development.

“[The house] is really shabby, it’s not habitable at all,” Ms Chow said.

But the high-profile Seddon transformation of celebrity renovation couple Dan and Danu from The Block failed to sell.

Dan Reilly and Dani Wales restored and extended the property at 3 Sydenham St over a two-year period.

The three-bedroom property was passed in at $1.26 million. 

There had been a price guide of $1.1 million-plus on the home that was previously an untouched Victorian. 

The couple paid $462,000 for the home after filming concluded for The Block All Stars season in mid-2013. 

Their renovation, including updating the Victorian facade, has come at a cost of around $400,000. 

Dan and Dani from The Block renovated this Sydenham St, Seddon, house. Photo: Village Real Estate

The three-bedroom property was passed in at $1.26 million. Photo: Village Real Estate

The renovation cost around $400,000. Photo: Village Real Estate

Melbourne’s dearest sale was in Elwood where a contemporary house sold for $4.75 million.

The four-bedroom 14 Kingsley Street home sat in Jack Merlo gardens. 

The nation’s cheapest sale – in Adelaide – was a demolition prospect, despite its attractive outward appearance.

The buyer paid $220,000 for the house at Para Vista which had been marketed with $230,000 hopes. The three-bedroom 5 Heather Court house was offered as “in need of demolition due to cracking and structural problems”.

“It could be possible to rent the home out with some work done but it was land value only,” selling agent John Leske said.  

This Adelaide home was marketed as an ideal redevelopment site. Photo: Century 21

Combined kitchen/dining area. Photo: Century 21

The house also has a non-functional in-ground pool. Photo: Century 21

In Sydney there was keen bidding for a Rozelle dump – more so at the rear than the front – that fetched $1.688 million. The overseas vendors had only got around to installing a new bathroom since they’d paid for the unliveable freestanding house at 23 Gordon Street. It last sold at $1.17 million in 2013.

Renovator’s delight at Rozelle. Photo: Bresic Whitney

Sydney’s auction success rate stayed high on the final spring weekend.

Sales ranged from $337,000 at Guildford for a one-bedroom flat that had been marketed as set to fetch $350,000.

The dearest was a $5,505,000 Cronulla beachfront sale where two of the three registered bidders competed through agent Mark Wigley.

It was the former abode of the sports promoter and administrator Kevin Elphick, who paid $4 million in 2013 for the Taloombi Street home.

49 Taloombi St has spectacular views across Gunnamatta Bay. Photo: Cronulla Real Estate

Step onto the beach directly from the property. Photo: Cronulla Real Estate

Overall, 3367 properties were taken to auction this week  – the second-highest number of reported auctions this year for the combined capital cities.

It was up from 2987 over the previous week, according to CoreLogic, who noted the volume was still significantly lower than the corresponding week of last year’s 3729 offerings.

The preliminary auction clearance rate, despite the increase in volume, remained strong at 76 per cent, up from last week’s final of 74 per cent.

The same final weekend of spring last year saw a 60 per cent success rate.

“Every capital city except Perth and Canberra are showing auction numbers to be lower than a year ago, while every capital has recorded a higher clearance rate compared with last year,” Kevin Brogan from CoreLogic said.

Across Melbourne, the preliminary clearance rate was recorded at 76.9 per cent from 1618 auctions, while in Sydney, 1236 homes were taken to auction this week with a preliminary clearance rate of 81.9 per cent.

Brisbane’s preliminary clearance rate was 53 per cent, up from 45 per cent last week and also higher than one year ago, when it was 47 per cent.

A total of 140 Adelaide homes were taken to auction, with a preliminary clearance rate of 66 per cent.

Perth’s preliminary clearance rate of 36 per cent sits around the same as one year ago.

Canberra’s clearance rate was 72 per cent this week across 112 auctions which included a new suburb record for Kaleen when 45 Onkaparinga Crescent fetched $1,045,000, topping the previous record of $935,000 at 12 Sanford Place last December.

The weekend sale was a five-bedroom, two-storey house on a 1637 square metre block.

This Onkaparinga Crescent home sold for $1,045,000. Photo: McGrath – Dickson

The sale broke the previous suburb record. Photo: McGrath – Dickson

Jonathan Chancellor is editor-at-large at Property Observer.