Sales Clearance Rate Down To 43pc
Sydney Morning Herald
Friday October 25, 1991
The residential auction clearance rate has dipped to its lowest point in six months, with estate agents selling a mere 43 per cent of the 523 properties offered during the week.
A total of 226 homes changed hands at 49 metropolitan and regional auctions for $56.2 million, reflecting an average sale price of $248,000.
Sales activity in the corresponding week last year was not as quiet, with 45 per cent of the 354 homes offered finding new owners for a total of $35.7 million. However, the average sale price was $224,500.
* Raine & Horne offered 103 properties and sold 44, for a total of $8.9 million. A three-bedroom house in Spruson Street, Neutral Bay, sold for$325,000.
* L. J. Hooker offered 69 properties and sold 18, for $4.8 million. A three-bedroom house in Hughes Avenue, Mascot, sold for $210,000.
* Richardson and Wrench submitted 36 properties and sold 15, for $4 million. One was a two-storey terrace in Paddington Street, Paddington, which fetched $670,000.
* Laing and Simmons offered 30 properties and sold 19, for $5.1 million. A three-bedroom house in Kanakook Avenue, Mona Vale, went for $426,000.
* Ray White offered 73 properties and sold 22, for a total of $7 million. A studio flat in Baden Road, Neutral Bay, fetched $167,000.
* First National sold six of the nine homes offered, for a total of $1.9 million. A three-bedroom bungalow in Evelyn Avenue, Concord, sold for $217,000 through Richards First National.
* Century 21 offered 65 properties and sold 28, for $4.6 million. A two-bedroom strata unit in Avenue Road, Mosman, went for $247,000.
* Nationwide Realty submitted 25 properties and sold 12, for $4.8 million. A one-bedroom flat in Liverpool Street, Darlinghurst, fetched $86,500.
* Sydney Auction Headquarters offered 22 properties and sold 14, for a total of $5.1 million. A two-bedroom house in Sutherland Street, Paddington, fetched $221,000.
* Bradfield and Prichard offered 18 properties and sold eight, for a total of $1.7 million. A two-bedroom unit in Marine Parade, Maroubra, sold for$118,000.
* The Professionals sold all eight properties offered, for $1.4 million. One was a three-bedroom house in Wendy Drive, Point Clare, which sold for$203,000 through Meyers Real Estate.
* McGrath Partners sold all five properties submitted, for a total of $1.4 million. A one-bedroom unit in Drumalbyn Road, Bellevue Hill, sold for$127,000.
* Australian Property Auction Company sold three of the seven homes submitted, for $792,000. A two-storey free-standing terrace in Trafalgar Street, Petersham, sold for $215,000 through Greer and Greer First National.
* Asset Realty offered two properties and sold one, for $557,000. It was a three-bedroom house in Dalkeith Street, Northbridge.
* Blake Kittle submitted six properties and sold two, for $454,000. A two-bedroom strata unit in Birriga Road, Bellevue Hill fetched $234,000.
* Robert R. Andrew offered 18 properties and sold 10, for $1.4 million. A four-bedroom house in Hawkesbury Street, Fairfield West, sold for $98,000.
* Montano sold four of the 15 homes offered, for $930,000. One was a two-bedroom semi in Kent Street, Newtown, which fetched $187,000.
* Gilmour and Sons offered 10 homes and sold five, for a total of$832,000.
A three-bedroom house in Rotary Street, Liverpool, fetched $123,000.
* N. G. Farah offered two properties and sold both, for $539,000. An 1888 terrace in Bronte Road, Bronte, fetched $281,000.
PRICES HIGH, PRICES LOW Cheapest house: Jellico Avenue, Kingsford $65,000 LS Cheapest unit: Liverpool Street, Darlinghurst $86,500 NR Cheapest terrace: Trafalgar Street, Petersham $215,000 FN Dearest house: Boronia Road, Bellevue Hill $760,000 SAH Dearest unit: Bay Street, Double Bay $650,000 RW Dearest terrace: William Street, Double Bay $810,000 RW Dearest semi: Brighton Boulevarde, Bondi $372,000 L&S
© 1991 Sydney Morning Herald