69 Hastings Rd, Warrawee

Sydney’s Top 5 Property Auction Sales

Sydney Property Auctions March 9th, 2019

 

Property snapshot
Listed auctions: 530
Reported auctions: 304
Sold: 207
Withdrawn: 75
Cleared: 55%
Total sales: $173,092,300
Median: $1,162,500
Source: Australian Property Monitors

 

Welcome back to my weekly property update.

This week the auction clearance rates took a bit of a dive from 65% to 55%. But this isn’t cause for alarm or excitement (yet) as year to date the clearance rates have been hovering in the mid-50%’s.

So here’s my take on what’s really happening in the Sydney property market.

  • Buyers are nervous about overpaying
  • A lot of potential buyers can’t buy as they haven’t sold their property yet
  • Sellers are nervous and are now starting to adjust their pricing to the “new” property market.
  • There are pockets of strength where there is a lot of buyer interest, such as northern beaches property (houses) priced in the low $1m’s.
  • Houses with special features such as water views, large grounds, location, are still attracting buyer interest, although there are only one or two real buyers
  • Houses that aren’t priced attractively and / or don’t have special features are struggling

Here are this week’s 5 highest priced property sales. Interestingly, four of the five of them sold prior to auction. All of these properties had a special feature, whether it was waterfront, waterview, large block or location.

Top 5 Property Auction Sales:

 

20 Larkin St Waverton

20 Larkin St Waverton

 

69 Hastings Rd, Warrawee

 

56 Marine Drive Oatley

56 Marine Drive Oatley

 

42 Edgecliffe Esplanade, Seaforth

42 Edgecliffe Esplanade, Seaforth

82 Simpson St, Bondi Beach

82 Simpson St, Bondi Beach

 

Until next week,

Bernadette

 

Bernadette Brennan is the Principal and founder of Premier Home Finders, a specialist real estate buyers agent located on Sydney's lower north shore.