Abbotsford veggie garden plot sells on opening spring weekend

Abbotsford veggie garden plot sells on opening spring weekend
Abbotsford veggie garden plot sells on opening spring weekend

The first weekend of September saw far fewer auction listings and even fewer willing sellers than the opening Salvo of spring last year.

But an Abbotsford veggie garden, with chook pens, water tank and a shed, attracted three bidders to fetch $1.26 million.

The 305sqm potential building site (pictured above) had been in the Harold family since 1936, when the now rare patch of greenery was located next door to their former shoe factory.

The building family buyer will construct townhouses with views back towards the Melbourne CBD skyline.

It had been given $1.1 million to $1.2 million price guidance.

The weekend national tally was 1,752 capital city auction listings, a decrease on last week’s 1,915 auction offerings on the final Saturday of winter.

It was substantially lower than over the same time last year when 2,074 homes went to auction.

The lower week-on-week volumes returned a preliminary auction clearance rate of 58.2 per cent, up at this stage on the 54.6 per cent final clearance rate over the week prior.

But after late results the final clearance rate will likely revise lower, according to CoreLogic auction analyst Kevin Brogan.

This time last year the success rate was 66.4 percent. 

It has been tracking in the low to mid 50 per cent range each week since May this year, Brogan said.

"The softness continues into spring," AMP Capital senior economist Shane Oliver noted.

Abbotsford veggie garden plot sells on opening spring weekend

Melbourne's top recorded sale was in Toorak when 12 Edzell Avenue (pictured above) sold for $3.68 million through Marshall White.

It last sold in 1999 at $770,000.

The English style 1932 maisonette residence had pre-auction price guidance of $2.75 million to $2.85 million, with Domain reporting it was $680,000 over its reserve.

A South Yarra property sold at an undisclosed price post-auction after being passed in at $4,010,000 through Kay & Burton, understood to be $4,150,000.

Abbotsford veggie garden plot sells on opening spring weekend

The 32 Avoca Street offering (pictured above) attracted just the one bidder.

It had last sold at $3.02 million in 2014. The price guide was $4 million to $4.25 million.

Melbourne's top offering at 12 Hill Street Toorak was passed in on a $6.7 million vendor bid. The Tudor style home is now listed at $7,195,000.

Its pre-auction price guidance for the five bedroom, three bathroom house had been $6.7 million to $7.37 million.

Last traded at $3.9 million in 2007, it has been a $1900 a week rental.

There were at least 18 no bidder prestige auctions, according to the Melbourne buyers' agent Mal James.

Melbourne was host to 810 auctions returning a preliminary clearance rate of 59.1 per cent, compared to last week when 56.5 per cent of the 899 auctions cleared.

One year ago, there were 976 auctions held in Melbourne, returning a much higher clearance rate of 71.3 per cent.

There were 662 auctions held in Sydney returning a preliminary auction clearance rate of 58.6 per cent.

Last week there were 721 auctions held with 53.2 percent successful, while this time last year, 65.5 per cent of the 779 auctions held were successful.

Abbotsford veggie garden plot sells on opening spring weekend

The highest auction sale was 24 Narooma Road, Northbridge (pictured above) which sold for $4,460,000 through Richardson and Wrench.

The modern five bedroom home was constructed since the 765 sqm block sold three years ago for $2,450,000.

But there was no sale nearby when there was just one registered bidder for the five-bedroom home at 11 Dalkeith, Street Northbridge, which now has a $3.8 million asking price.

Abbotsford veggie garden plot sells on opening spring weekend

One of Queenscliff's finest trophy homes (pictured above) sold pre-auction for $12 million through Jake Rowe Partners agents Jake Rowe and Nathan Tse.

They had an $11 million to $12 million guide, with it sold within days of its first open for inspection.

Renovated since last traded for $3.8 million in 2008, the tri-level home on its 805 sqm Pavilion Street block has five bedrooms, five bathrooms and two home offices.

The lounge with gas log fireplaces, and the glass framed dining and living rooms flow to seaside terraces featuring a fire-pit and heated plunge pool.

Across the smaller auction markets, the highest preliminary clearance rate was recorded in Canberra where 63.3 per cent of auctions were successful, followed closely by Adelaide where 61.7 per cent of homes sold.

Brisbane, where the clearance rate was the nation's weakest at 45.9 percent, had the nation's cheapest sale.

Abbotsford veggie garden plot sells on opening spring weekend

It was $210,000 for a two bedroom townhouse at 11/30 Holland Crescent, Capalaba (pictured above).

It had sold at $166,000 in 2003.

It has been for sale three times over recent years seeking $300,000.

Its most recent asking rental was $330 a week.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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