07 Jun Spotlight on one bedroom apartments across Sydney
Sydney Real Estate Auction Results – June 3rd, 2017
|Source:||Australian Property Monitors|
Sydney had 789 properties listed for auction on Saturday 3rd June and a 74% auction clearance rate showing there is still momentum in the Sydney property market, even in winter.
This week I take a close look at one bedroom apartments and how they fared at the weekend’s auctions. There were 25 one bedroom apartments up for sale and 18 of them sold either prior to auction or at auction and the remaining 7 failed to sell. Interestingly this is a 72% clearance rate, which is lower than the overall auction clearance rate of 74%.
The highest priced 1 bedroom apartment was C702/24-26 Point St, Pyrmont which sold for $952,000 and the lowest priced 1 bedroom apartment was 3/51-63 Euston Rd, Alexandria, which sold for $460,000. The median price for a 1 bedroom apartment based on this week’s sales was $747,600.
One bedroom apartments are currently returning an average rental yield of between 3% – 4% depending on where they are located and the condition of the apartment. Here is a selection of what sold and what didn’t sell from this past week’s auctions.
One bedrooms apartments across Sydney that sold this week:
5/7 Premier St, Neutral Bay, a one bedroom apartment without parking sold prior to auction for $686,000.
7/40 Musgrave St, Mosman, a one bedroom apartment with parking sold prior to auction for $765,000.
41/13 Oatley Rd, Paddington, a one bedroom apartment with parking sold at auction for $920,000.
12/35 Dalley St, Queenscliff, a one bedroom, two bathroom apartment with parking sold at auction for $940,000.
One bedroom apartments across Sydney that didn’t sell at auction this week:
2/11 Boyle St, Balgowlah, a one bedroom apartment with parking was withdrawn from auction and is currently for sale for $800,000-$850,000.
4404/6 Alexandra Drive, Camperdown, a one bedroom apartment with parking passed in and is now for sale with the price on request.
35/25 Angas St, Meadowbank, a one bedroom apartment with parking passed in on a vendor bid of $600,000 and is now for sale for $600,000.
7/1 Thorpe St, Clovelly, a one bedroom apartment without parking was withdrawn from auction and is now for sale for $825,000.