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Sydney real estate: Waverley apartment sells for $1.68m amid shifting auction rates
In the Sydney property market, an art deco three-bedroom apartment in Waverley sold for $1.68 million at auction. The buyer, an upstairs neighbor, secured the ground-floor unit, which includes one of only two lock-up garages in the four-unit block. The sale exceeded the $1.6 million reserve by $80,000.
Sydney's broader auction market saw a preliminary clearance rate of 48 per cent from 481 reported results, a five percentage point decrease from the previous week. This follows a period of buyer hesitation linked to changes in the tax treatment of investment properties in the May budget.
In the Shoalhaven region, a beachfront property at 7 Quay Road, Callala Beach, is scheduled for auction on September 27. The four-bedroom, three-bathroom home has been owned by the same family for 48 years and is being sold due to changes in lifestyle and circumstances.
Entities
Callala Beach · Domain · McGrath · Melbourne · Nelson Alexander · Northcote · Reserve Bank · Sydney · Waverley
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] One-buyer auctions are currently common in the market.
- [● 3 SOURCES] A three-bedroom house at 79a Thomson Street in Northcote sold for $1,515,000.
- [● 3 SOURCES] The preliminary auction clearance rate in Melbourne was 57 per cent from 655 reported results.
- [● 3 SOURCES] Economists have warned of a potential interest rate rise by the Reserve Bank to address inflation.
- [● 3 SOURCES] 81 auctions were withdrawn during the week in Melbourne.