[ad_1]
The Bondi semi was one of 540 scheduled auctions in Sydney on Saturday. By evening, Domain Group recorded a preliminary auction clearance rate of 72.7 per cent from 333 reported results, while 50 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
Loading
AMP chief economist Dr Shane Oliver said the 72.7 per cent clearance rate is strong for the start of the year, but cautioned it was based on low volumes.
“Also being the start of the year you can often get volatility which may not be sustained in one direction or another.”
Oliver suspected the year may be a rough to begin with, but said the second half of the year may stabilise.
“Of course, the interest-rate-cut talk may take various twists and turns before we ultimately get the right cuts. We think they’ll probably cut around mid-year. But the Reserve Bank could push back against all the talk of rate cuts like we’re seeing other central banks doing.”
In Paddington, a lady in her mid-20s beat one other bidder to buy a corner terrace after it passed in at $2.52 million.
The three-bedroom, one-bathroom terrace at 5 Liverpool Street sat on a 101 square metre block.
Bidding opened at $2.2 million. After several bids, it stalled and was passed in at $2.52 million before being sold for $2.56 million in post-auction negotiations. The sale price was within the guided range of $2.5 million to $2.6 million.
Loading
The vendors, investors, were happy with the result. The terrace was last traded in 2019 for $1.59 million, public records show.
The Agency selling agent Ben Collier said it presented well and its corner position allowed for more privacy and natural light.
“It’s in the top section of Liverpool Street, which meant that it had level walking distance to Oxford Street. ”
Collier said the market had been encouraging in the early stages of the year.
“Certainly, the view shared by most is that rates have peaked, which is making it easier for people to plan their finances.”
In Fairlight, on Sydney’s northern beaches, a charming 100-year-old home sold for $235,000 more than its $3.5 million guide.
“Foxton” was built in 1923 as a strata title house. It was unusual because it had gorgeous views of Sydney Harbour but no backyard.
Rather than tear down and redevelop the land into apartments, the then-owners chose to build a new home in the backyard with its own separate address and entrance.
The auction at 60 Lauderdale Avenue drew a crowd of 60 people and just one registered buyer. McGrath Manly selling agent Matt McEwan said the buyer offered a $3.5 million opening bid, but brought their offer up to $3,735,000 over several increments on the auction floor. At that price, McEwan appealed for other bids from the remaining crowd but sold it after receiving no more offers.
McEwan declined to share the reserve.
[ad_2]
Source link
