Scheduled Auction numbers at the weekend represented a figure more in line with what we expect for a Spring market when comparing to the past few years’ figures.
Surprisingly, the clearance rate was still quite high, not as high as last week, but with a sharp surge in auction numbers the clearance figure remained strong.
There were originally 717 Auctions scheduled to go up and 530 took place with 42 withdrawn for whatever reason. Of those that took place 467 sold with a clearance rate of 82% which is very solid.
The most surprising thing to come out of the weekends figures isn’t even these numbers, it’s the fact that the median price of property cleared was $1,300,000 which is extreme.
The cause of this spike in median sale price could be 3 Bronte Marine Dr, Bronte; a ‘fixer upper’ looking directly at the crashing waves that sold for $7,350,000 which was the highest reported Auction price at the weekend.
There were however properties still selling in the $500,000/$600,000 range in places like Epping and Fairfield.
Thomas Merriman.
Thomas Merriman 