11 Mar Sydney’s Top 5 Property Auction Sales
Sydney Property Auctions March 9th, 2019
|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, a 4 bedroom character home sold prior to auction for $6.15m.
- 69 Hastings Rd, Warrawee, a beautiful 6 bedroom house on 1818 sqm sold prior to auction for $4.6m (feature image above).
- 56 Marine Parade, Oatley, a 4 bedroom waterfront house on 1752 sqm, sold prior to auction for $3.5m.
- 42 Edgecliffe Esplanade Seaforth, an original 5 bedroom house with water views sold prior to auction for $3.475m.
- 82 Simpson St, Bondi Beach, a renovated 5 bedroom house in a central location sold for $3.35m.
Until next week,