One of Sydney’s last remaining clifftop cottages has secured the weekend’s top sale price across the capitals, despite reduced long weekend activity.

Belle Property sold the Queenscliff home for $5.55 million at a packed auction with more than 100 locals attending.

The 17 Pavilion Street offering was marked by Belle Property Manly agent Anthony Calacoci as Sydney’s last original clifftop house.

The guide for the clifftop property was $4.8 million.

With views north and south over the ocean, it was a one-bedroom cottage without parking on 340 square metres of land.

It hadn’t traded for four decades having been built for a fisherman.

The tiny cottage will probably be demolished to make way for a modern beach house. Photo: Belle Property

The previous owner enjoyed multimillion-dollar views for decades, as luxury houses popped up around them. Photo: Belle Property

The purchase of this relic of the past will probably mark the end of an era for the local neighbourhood, as a tiny workman’s cottage makes way for palatial living. Photo: Belle Property

The next highest sale price across the country was when $4 million was paid pre-auction for a home in Clontarf.

The three-level hillside 24 Peronne Avenue, Clontarf home was offered through LJ Hooker. It had been initially listed last October with $4 million hopes.

While Sydney took top price, Canberra was the hottest capital city weekend auction market, with sales ranging between $376,000 at Calwell to $1.34 million in a pre-auction sale at Ainslie.

The clearance rate in Canberra saw 77.6 per cent of auctions achieve a sale.

This Clontarf, NSW home has harbour views from all three levels. Photo: LJ Hooker

The home is nestled in 960sqm of established landscaped gardens. Photo: LJ Hooker

And of course, it has a pool. Photo: LJ Hooker

The top Canberra result was a 1959 weatherboard, with brick fireplace at 75 Tyson St, Ainslie. It had last sold at $439,950 in 2002.

Canberra’s top three were a close-run race as there was a $1.325 four-bedroom Deakin home sale and a $1.31 million sale at O’Connor of another 1950s home.

Canberra’s cheapest sale was a three-bedroom townhouse with 98 square metres of living space at 32/36 Fink Crescent, Calwell. It had last sold at $360,000 in 2010.

It was a relatively quiet auction weekend in Melbourne due to the Labour Day public holiday.

The highest result was a two house, 1650 square metre consolidation at 1399-1401 Dandenong Road at Malvern East at $4.66 million.

It was tipped to fetch $4.4 million to $4.6 million.

Melbourne’s dearest house sale was $2.465 million when 172 Clark Street, Port Melbourne was offered.

It was a three-bedroom brick home which was marketed as a likely knockdown with a $2 million to $2.2 million price guidance.

Melbourne’s cheapest sale was $245,000 at Footscray.

The 8/18 Eldridge Street one-bedroom apartment was expected to have fetched between $250,000 and $275,000.

The 55 square metre apartment needed to be renovated.

CoreLogic calculated the capital city preliminary clearance rate rose to 67.3 per cent, with auction activity across the capitals significantly lower.

There were 1721 auctions held across the combined capital cities, significantly lower than the 3026 held last week.

“The fall in auction volumes this week is due to the fact that four of the eight states and territories have a public holiday on Monday,” CoreLogic auction analyst Kevin Brogan said.

“The preliminary clearance rate across the combined capital cities rose to 67.3 per cent this week, up from 63.6 per cent last week, although this will revise as more results are collected over the week.

“Over the same week last year, the clearance rate was recorded at 75.1 per cent.”

The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise, with Sydney at 66.6 per cent across 936 auctions and Melbourne at 72.2 per cent across 447 auctions.

Looking at results by property type, units outperformed houses again across the capitals with 70 per cent of units selling at auction, while 66 per cent of houses sold.

Jonathan Chancellor is editor at large at Property Observer.