Luxury homes and larger properties within a 15-kilometre-radius from central business districts dominated the auction market this weekend, with some selling up to $1 million above reserve and defying the slowing market, agents say.
“This particular property is an ordinary house in an ordinary location, and I think the buyer plans to redevelop it. So I don’t think theIn Brisbane, a four-bedroom house in Clayfield, 7.4 kilometres north-east of the CBD, has sold to a local buyer for $3.325 million, which is $925,000 above the reserve.
Mr Deutsch, who founded the gym franchise in 2012, bought the waterfront home for $11.2m in October 2018. The $17.7 million sale price has delivered him a $6.5 million capital growth or 58.4 per cent gain.“The flight to quality homes remains strong, driven primarily by a lack of supply,” said selling agent Ashley Bierman of Ray White Double Bay.
Preliminary auction clearance rates have picked up slightly this week, rising by 0.7 percentage point to 70.1 per cent nationwide, boosted by the strong results across the smaller capitals, the CoreLogic auction data shows. “The chances are, they probably will continue to drift a little bit lower based on the final clearance rates,” he said.