Sydney Property Results November 4th 2017

Sydney Real Estate Auction Results – November 4th, 2017

Property snapshot
Listed auctions: 952
Reported auctions: 537
Sold: 417
Withdrawn: 94
Cleared: 66%
Total sales: $414,318,300
Median: $1,280,000
Source: Australian Property Monitors

 

Sydney property had a mixed weekend at auction, with a 66% auction clearance rate, slightly above the year’s lowest clearance rate of 65%. There were some big sales, such as the unrenovated Federation home at 44-46 Wentworth St, Randwick, which sold prior to auction for $6.205m. Woolloomooloo secured the 2nd highest priced sale with a 3 bedroom unit (pictured above) at 29/10 Lincoln Crescent selling for $5.55m. The Eastern suburbs also secured the third highest recorded sale of the week with 2 Beaumont St, Rose Bay, a 4 bedroom house, selling for $4.61m.

More broadly, Randwick was the standard performing suburb of the week with 7 of 7 properties selling. In addition to recording the week’s highest sale price, Randwick also offered value with 2 x 2 bedroom apartments that sold for $925k and $975k respectively. The northern beaches, including Queenscliff, Manly, Freshwater, Bilgola, Collaroy and North Narrabeen is also performing well. For property investors, there are a number of apartments for sale in the Freshwater, Queenscliff area and rentals are tight leading into summer making it a good time to enter the market and secure a tenant at a good rent.

Until next week.

Bernadette

 

4, 18 Dalley St Queenscliff, a 2 bed unit sold for $840k.

4, 18 Dalley St Queenscliff, a 2 bed unit sold for $840k.

5, 13 Frazer St Collaroy, a 2 bed unit sold for $770k.