As the traditional spring selling season picks up steam, home buyers are bidding over reserves and clearance rates are holding firm, with all signs pointing to a gently rising market.last week, auction volumes have surged back, more than doubling to 2,436 across capital city markets, according to CoreLogic. Despite the bounce in supply, buyer demand has held up, with a preliminary clearance rate of 71 per cent nationally, compared to 70.3 per cent a week earlier.
The 42 Davis Street home, listed with Castran Gilbert, stands on a 499-square-metre block. With a price guide of $4.25-$4.65 million and a reserve of $4.5 million, it sold for $5.25 million. The auction pitted two buyers who were prepared to pay over the odds, Mr Hocking said.. “They’ve got the capacity to buy. They’re not borrowing.”
At Burwood in Sydney’s inner west, the three-bedroom home at 75 Oxford Street was sold at auction for $2.3 million, comfortably exceeding its reserve of $1.75 million. Listed with The Agency’s Andrew Kazzi and Steve Devine, its initial price guide was $1.5 million.The action was just as brisk in Brisbane, where in outer suburban Eight Mile Plains, a five-bedroom home was knocked down at auction for $1.651 million, setting a record for that suburb.“The sellers are ecstatic, only needing $1.
Asking prices are already hitting a record high nationally, as well as in the Sydney, Brisbane, Adelaide and Perth markets, according to analysis from SQM Research last week. The highest recorded median asking price was for Sydney houses, which reached $1.873 million.Veteran analyst Louis Christopher, founder of SQM Research, described the market as “not too hot and not too cold” as the spring selling season gathers momentum.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: SkyNewsAust - 🏆 7. / 78 Read more »