A two storey modern $3.35 million Freshwater home on Sydney’s northern beaches was the highest reported weekend auction sale.
The cheapest capital city offering was a one bedroom Footscray apartment, but it was passed in at $210,000 having come with $230,000-plus hopes.
It was the first weekend for sales since Corelogic advised capital city dwelling prices fell by 0.5 per cent in January, while regional prices grew by 0.2 per cent over the month – the fourth consecutive month they’ve performed better than the capitals.
Regional Australia had plenty of cheap weekend results including a three bedroom $115,000 house on 1000 sqm at Grantham in Queensland.
There was a $72,000 sale in regional Victoria when a two bedroom Dunolly cottage went to auction, listed with $65,000-plus expectations. It last sold for $40,000 in 2000.
There was a $196,000 sale at Tooleybuc, with views of the Murray River, of a two bedroom villa. Set on the NSW border in the western Riverina, it last sold at $78,000 in 1995.
The auction market is slowly starting to bounce back from the seasonal Christmas holiday slowdown, with volumes lower than the same time last year.
CoreLogic was tracking 779 auctions over the week to Saturday, compared with the 881 homes taken to auction this week last year.
Melbourne was the only capital city to see an increase in volumes year-on-year with its prices ranging up to $1.41 million when a four bedroom 1940s Highett house was sold, at close to the suburb median house price.
The Middleton Street, Highett house had been listed with $1.34 million to $1.4 million price guidance, having last sold in 1986 at $81,400.
Around 290 Melbourne auctions were held with a preliminary auction clearance rate of 72.8 per cent.
“Towards the end of 2017, Melbourne clearance rates sat around the 65 per cent mark,” CoreLogic auction analyst Kevin Brogan noted.
Adelaide’s preliminary clearance rate was 76.7 per cent, the best performing mainland capital city. There were 97 Adelaide auctions, compared to the 144 held over the comparable week last year.
Across Sydney, 207 auctions were held over the week, including 180 on Saturday, up from just 42 on the previous weekend.
A coastal northern Sydney beaches home, mentioned above, was the biggest result, at $3.35 million. The four bedroom home at 39 Albert Street, Freshwater sat on a 380 sqm block. It last sold at $1.4 million in 2006.
The preliminary clearance rate of 63.1 per cent was down from the 72.3 per cent success rate this time last year across 259 auctions.
There were 98 Brisbane homes taken to auction with a preliminary clearance rate of 55.4 per cent.
Across the Gold Coast 56 results have been reported so far, with a success rate of 48.2 per cent.
Queensland’s top sale came when former Queensland governor Leneen Forde sold her Gold Coast home of 25 years for $3.1 million.
There were 14 registered bidders seeking to buy the four bedroom beachfront Pacific Parade home, which exceeded the previous $2.45 million record price for the strip.
Forde was the governor of Queensland for five years until 1997, and later chaired the Commission of Inquiry into Abuse of Children in Queensland Institutions.
The 1980s brick home was bought by the Liberal National Party local member for Currumbin, Jann Stuckey.
In Perth, 30 auctions took place this week, with Perth’s preliminary clearance rate of 66.7 per cent.
Canberra’s preliminary auction clearance rate of 64.4 per cent this week was lower than the 70.5 per cent recorded last year.
CoreLogic recorded just three auction results across Tasmania this week with two sales.
One was $375,000 when a three bedroom 1900s West Launceston cottage was sold. It last sold in 2009 at $300,000.