The first Super Saturday auction of 2018 has seen auction volumes surge well past 3000 for the first time this year, returning a strong national preliminary auction clearance rate of 70 per cent.
‘Super Saturday’ refers to what is historically one of the stronger auction days of a season.
There are two more so-called Super Saturdays squeezed in before the Easter break.
Upcoming Melbourne sellers include AFL champion Bryce Gibbs.
The new Crow’s former Ascot Vale home has been listed for March 17 auction.
The former Carlton player bought the two-storey, three-bedroom townhouse at 67c St Leonards Rd in 2008.
Over the weekend, Adelaide was the best-performing auction capital with its affordable prices ranging between $330,000 and $1.45 million.
It scored a 75 per cent clearance rate from its 107 auctions.
Perth returned the lowest preliminary auction clearance rate of 52 per cent.
The cheapest weekend result across the capital cities was a student studio apartment sold pre-auction in Footscray for $120,000.
The unit at 224/133 Droop Street offering has been rented at $220 a week and was listed for sale with a $105,000 to $110,000 price guidance.
The low-rise apartment with around 40 square metres had previously traded at $122,000 in 2015. It sold at $127,000 in 2013.
Across the combined capital cities there was a total of 3275 homes taken to auction, up from the previous week’s 1992 when 66.1 per cent were sold.
It remains down on the same week one year ago when agents secured a 78.4 per cent success rate across a slightly higher volume of 3301 auctions.
“Units outperformed the house market, with 72.9 per cent of units selling at auction, while 69.5 per cent of houses sold across the combined capitals,” Kevin Brogan, auction analyst at CoreLogic said.
The highest national sale was in Melbourne when 33 Canterbury Road, Middle Park fetched $5.75 million shortly after its auction which had a $5.45 million top bid.
Eumeralla, a five-bedroom Victorian terrace home on a 50-metre deep allotment, has soaring ornate ceilings, marble fireplaces, arched entrance hall, gracious sitting room and main bedroom with full width balcony.
Marshall White secured the sale of the home which last sold at $2.5 million in 2006.
There were two bidders.
The highest Sydney sale under the hammer was a five-bedroom house at 29 Cotswold Road, Strathfield which sold for $4,810,000.
It last sold in 2003 at $2 million.
There was a pre-auction sale of 4 Bayview Street, Bronte for $7.5 million.
Melbourne and Sydney both secured auction clearance rates of 71.7 per cent.
Melbourne’s was up on the 69.8 per cent final result from the previous weekend, jumping to 1610 auctions from 932 last week.
In Sydney, 1221 homes were taken to auction, up from the 737 offered over the previous week. Its preliminary result was up on last week’s final clearance rate of 67.8 per cent.
Brisbane had a 53.3 per cent clearance rate from 164 auctions listed. Its top sale was $5 million at Chelmer. The 127 Laurel Avenue sale was a five-bedroom Knowlman McDonald-built home on a 3122 square metre river frontage sold through Adcock Prestige.
Adelaide’s dearest was a tight finish between a four-bedroom $1.42 million Henley Beach offering and a five-bedroom $1.42 million Glenelg East house.
Adelaide’s cheapest was a $330,000 Semaphore Park two-bedroom apartment that looked over Point Malcolm Reserve to the sea.
The 12/403 Esplanade offering was a two-storey 80 square metre late 1960s apartment with a rental estimate of $320 to $340 per week.
Jonathan Chancellor is editor at large at Property Observer