Properties sell across the demographic: Market Wrap
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Aug 3, 2020
Properties sell across the demographic: Market Wrap
Properties sold across price ranges and across demographics, say Brett Greensill of McGrath Estate Agents, Patrick McKinnon of Place and Brad Gillespie of The Agency.
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McGrath3511/30 Hollins Crescent, New Farm was sold for $4.81 million through agent Brett Greensill of McGrath New Farm.
Auctions were once again achieving good results for vendors across the capital cities over the weekend from high end to first home buyers.
In Brisbane Brett Greensill of McGrath New Farm said he was fielding many enquiries for 3511/30 Hollins Crescent, New Farm.
“3511/30 Hollins Crescent is a spectacular four-bedroom apartment with north-easterly river views but also captures the stunning city skyline - perhaps the best view in Brisbane," said Mr Greensill to WILLIAMS MEDIA.
"The campaign was high-profile online with over 30 private inspections.
"We also fielded inquiry from interstate and overseas, especially from the United States of America."
3511/30 Hollins Crescent, New Farm was sold for $4.81 million through agent Brett Greensill of McGrath New Farm. Photo: McGrath
Mr Greensill said they received multiple written offers in the $4 million range before selling to a local buyer downsizing to this 367-square-metre apartment.
"Coincidentally, the seller was also downsizing to a smaller apartment, so this domino effect is quite interesting," said Mr Greensill.
"These are genuine lifestyle choices and movements that have nothing to do with COVID - it did not impact on this sale whatsoever."
The final sale price was $4.81 million.
The apartment was part of the award-winning Cutters Landing development, built by Mirvac.
It has 4 bedrooms, 3 bathrooms and 4 car spaces with several balconies in a 367 square metres area (294 sq m internal) on the fifth floor.
The apartment was renovated 2018.
36 Newmarket Street, Hendra sold through agent patrick McKinnon of Place Ascot. Photo: Place
Nearby in the suburb of Hendra Patrick McKinnon of Place Ascot had a sale with 36 Newmarket Street.
A free-standing home with 5 bedrooms and 3 car spaces (including a double garage), the property sold for $2.4 million.
It is located on a 506sqm block and the pool house at the back of the property were the stables that once housed Bore Head, one of Queensland's best thoroughbred racehorses during the 1960s.
"We had 3 offers on the property before the vendores settled on the price," said Mr McKinnon to WILLIAMS MEDIA.
"The property had been on the market for a while and we continued having open homes.
"Pre-COVID we had predicted a price around $2.4 million, and during COVID we had a couple of offers around the $2.2 million mark.
"The final buyer, a local older family bought the property cash, unconditional."
10/32 Queen Street, Beaconsfield was sold through agent Brad Gillespie of The Agency. Photo: The Agency
In Sydney 10/32 Queen St Beaconsfield went under the hammer through Brad Gillespie of The Agency.
There were six registered bidders with four bidding actively.
The starting bid was at $840,000 and the property finally sold for $971,000 to first home buyers.
Auctions across Australia
According to CoreLogic, the combined capital city preliminary clearance rate improved across a lower volume of auctions this week.
There were 1,162 homes taken to auction returning a preliminarily success rate of 65.3 per cent coming in higher than last week’s preliminary results of 59.2 per cent, which later revised down to 54.1 per cent.
Source: CoreLogic
One year ago, 1,108 capital city homes were taken to auction over the same week, returning a final auction clearance rate of 66.4 per cent.
There were 351 Melbourne homes scheduled for auction this week, lower than the 540 over the week prior.
The lower volumes saw Melbourne’s preliminary clearance rate improve with 59.8 per cent of auctions successful as fewer withdrawn auctions were recorded this week lifting the success rate.
Of the 296 results collected so far, 86 were withdrawn results which is quite a bit lower than last week’s 217 withdrawn results, equating to a 29 per cent and 40 per cent withdrawal rate respectively.
Of the sold results collected just under 50 per cent reportedly sold prior to the scheduled auction date.
One year ago, 500 Melbourne homes were auctioned returning a final clearance rate of 70.9 per cent.
Source: CoreLogic
In Sydney, 578 homes were taken to auction this week returning a preliminary auction clearance rate of 68.2 per cent.
An improvement on last week’s final clearance rate of 60.6 per cent across a slightly higher 594 auctions.
Over the same week last year, Sydney volumes were a lower 386 with a success rate of 72 per cent.
Across the smaller cities, Adelaide and Canberra came in with equal highest clearance rate over the week with 80 per cent of homes selling at auction.
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