STEPHEN NICHOLLS The Daily Telegraph November 20, 2017 7:00am
IT was another grim auction weekend for sellers, but families struggling to put a roof over their head in Sydney’s north still have to pay more than $1.7 million for a townhouse.
With 594 of the 816 results in by yesterday, CoreLogic put the clearance rate at 61.78 per cent for Saturday’s auctions.
The north shore was the best performing region, with a 72.38 per cent success rate — and one of the hottest auctions was for a three-bedroom freestanding townhouse in Lane Cove.
The property at 1/5 Bridge St, Lane Cove, sold for an incredible $1,739,000, which was $59,000 above reserve — after five young couples registered and four competed for it.
The townhouse had a range of features that families liked.
“It was in a boutique block of three but more like a little house, with no common walls,” said Belle Property Lane Cove agent Simon Harrison.
There were three bedrooms, two bathrooms, plus a study, double parking and 110 sqm of outdoor space.
In Ryde, which had been the star auction performer last week at 89 per cent; plummeted to 60 per cent.
Though nine groups registered for a two-bedroom villa on 179 sqm at 4/17-19 Goulding Rd, Ryde, which sold for $985,000. It had an $850,000 price guide through Belle Property Hunters Hill agent Michael Gallina.
Five couples ended up bidding, with the purchasers coming from Taren Point in the south.
It was more challenging to attract buyers to more expensive properties, with just one registering for a three-bedroom apartment with panoramic harbour views to the city at 3/23 Addison Rd, Manly.
The downsizer from around the corner offered $3.3 million — and it sold later for $3.33 million, which both buyer and seller were happy with.
“We’ve gone from a mainly seller’s market, to a market where there needs to be collaboration between buyers and sellers to get a deal done,” said selling agent Michael Clarke of Clarke & Hamel Property.
The northern beaches clearance rate was 63 per cent.
The southwest was the poorest performer at a mere 32 per cent; the east was 68 per cent; the inner west was 60 per cent; Blacktown was 54 per cent; Parramatta was 57 per cent and Sutherland was 64 per cent.
STEPHEN NICHOLLS The Daily Telegraph November 20, 2017 7:00am
