More than 1,150 auctions were held in Melbourne over the weekend, up from 843 the week prior.
Preliminary results from CoreLogic show a clearance rate of 70.8%, up slightly compared to last week’s 70%, but down from a strong 80.2% this time last year.
An Edwardian 5br family home on Melbourne’s prestigious tree-lined ‘Golden Mile Avenue’ was Melbourne’s most expensive sale at $5,110,000.
The sought-after Canterbury address, on a 1,021sqm block with period features including stained glass windows and detailed fretwork, last sold in 2007 for $2.99m.
Melbourne’s auction median for the week was $821,000 according to Australian Property Monitors (APM).
Two properties sold at this price - a 2br deco-unit in Brighton and 3br single-level brick house in Glen Waverley.
A 1br unit in South Yarra, close to Fawkner Park, was Melbourne’s most affordable home at $260,800.
CoreLogic reported a preliminary clearance rate of 75% in Sydney from a reported 773 auctions this week.
The clearance rate has remained reasonably strong since mid-February – but is down against this time last year when the clearance rate was 85%.
Bucking this trend however, were the Eastern Suburbs (91.9%), North Sydney (83.3%) and Hornsby (83.3%).
A luxurious 3br water-front apartment with wraparound balcony views over Elizabeth Bay was Sydney’s most expensive sale at $7m.
Designed by Burley Katon Halliday, the apartment last sold in 1997 for $3,600,000.
By contrast, the most affordable sale was in Bankstown where a top floor 2br unit with parking went for $360,000.
APM reported Sydney’s auction median price as $1,270,000 for the week.
A 5br corner block home in Dundas sold for this price.
Also around this price point, a 5br brick house in Eastwood sold for $1,265,000 and a 3br single-level house on 575sqm in Caringbah sold for $1,275,000.