Highest number of auctions in nine weeks: Market wrap
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Jun 29, 2020
Highest number of auctions in nine weeks: Market wrap
As confidence grows in the real estate market so do listings, such as 'Greygables' recently sold by Christine Rudolph of Ray White New Farm.
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Ray White New Farm37 Manson Road, Hendra sold through agent Christine Rudolph of Ray White New Farm
Spanning a 16 metre frontage, 'Greygables' is the latest sale by Christine Rudolph of Ray White New Farm, located at 37 Manson Road, Hendra.
It is a new house in a treelined street that has included every possible luxury from the soaring 3.2 metre ceilings, to the butler's pantry and even a mud room and laundry, conveniently connected to the double lock up garage.
The kitchen in 37 Manson Road, Hendra Photo: Ray White New Farm
The home was irresistable with character features such as a magnificent fireplace adjoining the kitchen and elegant french doors leading out to an entertainment area including pavilion and pool.
The upper level contains a spacious family room and large deck with awe-inspiring city views.
Complete with butler's pantry in the kitchen and walk-in dressing room in the master bedroom, it is no surprise this property was snapped up.
Auctions
CoreLogic has reported there were 1,424 homes scheduled for auction this week returning a preliminary auction clearance rate of 64.5 per cent.
This was the highest number of auctions held in nine weeks, demonstrating an ongoing improvement in seller confidence as auction clearance rates hold reasonably firm under higher volumes.
In comparison, the previous week saw 1,251 homes taken to auction returning a preliminary clearance rate of 66.1 per cent, which later revised down to 59.6 per cent at final figures.
This time last year saw 1,295 homes taken to auction across the capital cities and a clearance rate of 62.9 per cent was recorded.
There were 623 Melbourne homes scheduled for auction this week, returning a preliminary auction clearance rate of 62.7 per cent.
Over the previous week, 558 homes were taken to auction across the city returning a final clearance rate of 60.1 per cent.
This time last year, 535 auctions were held in Melbourne and the clearance rate was a stronger 68.6 per cent.
Source: CoreLogic
Sydney saw 614 homes go up for auction over the week, returning a preliminary clearance rate of 66.9 per cent.
The previous week saw 522 homes taken to auction across the city, returning a final clearance rate of 61.6 per cent.
One year ago, 503 auctions were held in Sydney and a 67.9 per cent clearance rate was recorded.
Source: CoreLogic
The CoreLogic Daily Home Value Index aims to measure daily movements in the value of Australian housing markets.
Rather than relying just on transacted sale prices to provide a measure of housing market conditions, the index is based on a 'hedonic' methodology which includes the attributes of properties that are transacting as part of the analysis.
Understanding factors such as the number of bedrooms and bathrooms, the land area and the geographic context of the property allows for a much more accurate analysis of the true value of movements across specific housing markets. This method also allows for compositional change in consumer buying patterns when measuring capital gains.
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