21 Aug Sydney Property Auction Results August 18th, 2018
Sydney Property Market Auction Results – August 18th, 2018
|Source:||Australian Property Monitors|
Sydney property had a busy day at auction with approximately 30% more properties listed for auction than last weekend. While the auction clearance rate dropped to 56% from 60%, the median price increased $80,000 to $1,255,000. Total sales also increased by approximately $39,000,000. The higher median property price shows that properties sold for higher prices, which is reflected in the top 5 sales below.
Top 5 Sydney Property Auction Sales:
- 12 Haughton St, Linley Point, a five bedroom home sold for $5.35m.
- 4 AHearn Ave, South Coogee, a four bedroom home sold for $3.825m (pictured above).
- 4A Adina, Curl Curl, a four bedroom home sold for $3.8m.
- 403/21 Barangaroo Ave, Barangaroo, a two bedroom unit sold for $3.68m.
- 12 Lowe St, Clovelly, a four bedroom home sold for $2.9m.
Sydney’s property market is currently running at two speeds. Family homes in desirable suburbs continue to be scarce and as such are commanding moderate to strong prices (although not the crazy high prices that we have seen in peak times). The prestige part of the market is booming and properties over $10m are not staying on the market long or are being sold in off-market transactions. For example, Mosman has had 14 properties that have sold for over $10m in 2018 (according to Core Logic). However the investor sector of the market has cooled. Unit buyers and investors looking for units in parts of the Eastern Suburbs currently have a lot of good options and can expect around a 4% gross rental yield.
As always, please feel free to get in contact if you need help with your property search or purchase.