Melbourne regained the mantle of being the strongest capital city auction market, but former Carlton legend Anthony Koutoufides was among those who didn’t secure their sale goal.
His former Brunswick West abode – which has been an $850-a-week rental for several years – now has a $1,765,000 asking price.
Sandhaven, the four-bedroom Coronation Street home, had a pre-auction price guidance of $1.55 million to $1.65 million.
The California bungalow was where he and wife Susie lived for 15 years after paying $275,000 in 1998.
The Herald Sun reported it passed in on a $1.6 million vendor bid.
An 1865 Italianate terrace in Carlton topped Melbourne’s sales at $5.46 million.
The four-bedroom, four-bathroom Lothian Terrace, Drummond Street home with modern rear had been marketed with a pre-declared $4.4 million reserve price. It last traded in 2003 at $1,125,000.
Across Melbourne, preliminary results saw 69 per cent of the 1456 reported auctions sold on the weekend, making it the third week in a row where the clearance rate has been below 70 per cent.
There were 1727 properties taken to auction across the city, compared to 1732 last week when the final clearance rate slipped to 66.9 per cent, the lowest clearance rate since July 2016.
Over the same week last year, 1616 auctions were held and a clearance rate of 76.1 per cent was recorded.
Melbourne’s cheapest sale was a one-bedroom Essendon North unit that fetched $238,000, some $2000 less than its pre-indicated $240,000 reserve. It last traded in 1978 at $16,500.
Domain reported there will be more than 1000 offerings across Melbourne next weekend.
Auction volumes across the nation increased again with 3409 homes taken to auction across the combined capital cities across the week.
It was the third-busiest week for auctions so far this year, with effectively just three Saturdays until the Christmas break.
They returned a preliminary auction clearance rate of 66.9 per cent, bettering the final results of last week when 60.9 per cent of the 3390 auctions had a successful result.
It was the lowest national clearance rate since late 2015.
Once final results are collected, the combined capital city clearance rate will be in the mid to low 60 per cent range for the sixth week in a row, according to CoreLogic auction analyst Kevin Brogan.
Over the same week last year, a total of 3398 homes were taken to auction across Australia with a 73 per cent clearance rate.
Brisbane had the dearest and cheapest weekend auction results.
There was a $5.65 million Graceville riverfront sale sold by the executors of World War II US Air Force officer turned successful Brisbane businessman Burton “Pete” Peterson, who died at the age of 97 this year.
It was a 6500 square metre estate last traded seven decades ago. Agent Jack Dixon advertised the 1959 three-level home situated on a flood-free allotment as “presenting a unique riverfront acreage lifestyle with multiple development options”.
The preliminary clearance rate in Brisbane rose to 57.6 per cent across 152 auctions, from 46.7 per cent across 217 auctions last week, while this time last year 191 auctions were held and a clearance rate of 43.8 per cent was recorded.
A Russell Island two-bedroom cottage, set between Brisbane and Southport, was the nation’s cheapest result.
The cottage fetched $119,000. It last sold 10 years ago at $132,000. Russell Island’s two-bedroom median is $190,000, according to CoreLogic.
Sydney was host to 1200 auctions with a 66.2 per cent preliminary clearance rate, after last week saw the lowest clearance rate since late 2015.
This time last year, 77.1 per cent of the 1262 homes taken to auction were sold.
Sydney just missed out on having the nation’s top sale when $5.6 million was paid in the Shire.
The five-bedroom Grandview Parade, Caringbah South home was a deep waterfront on 1000 sqm.
It was marketed by Abode agent Suzanne Hibberd as “one of the few properties on Burraneer Bay with its own boat ramp”.
It last sold in 1991 at $1.1 million. Domain reported competition from five registered bidders. The house was on the market at $5.48 million after bidding opened at $5 million.
Adelaide’s cheapest sale was $297,000. The three-bedroom brick Ottoway home had been listed with $275,000 price guidance.
In Adelaide, a 67.0 per cent preliminary result was recorded this week across 153 auctions. Last week, 151 Adelaide auctions returned a clearance rate of 64.5 per cent, while at the same time last year, 144 homes were taken to auction, with 63.1 per cent recording a successful result.
Perth’s clearance rate of 38.9 per cent across 18 auction results is down from last week, when 85 auctions were held and a clearance rate of 39.7 per cent was recorded. Over the same week last year, the clearance rate was a lower 27.3 per cent, and 67 auctions were held.
Sales included a four-bedroom 1960s brick home at Cloverdale at $475,000.
Across Canberra, 128 homes were taken to auction.
Preliminary results show a clearance rate of 66.1 per cent, up from 62.8 per cent the previous week.
There was a $3.16 million sale at Red Hill. The five-bedroom Mugga Way home on Canberra’s golden mile previously traded at $1,365,000 in 2009.
Jonathan Chancellor is editor at large at Property Observer.