Strathfield tops Sydney weekend results as auction clearance rate eases
Sydney’s most expensive property to sell at auction this weekend was in Strathfield, 14 km from the CBD, for $3,005,000.
According to APM, the newly constructed five-bedroom, four bathrooms house at 65 Barker Street sold through Ray White Burwood.
The vendor YK Global Developments bought a red brick knock down on 699 square metres in June last year for $1.310 million and created the new home.
According to figures on RP Data, the record price paid for a house in Strathfield is $6.8 million in a deal that transpired at the start of this year.
The top price for a Barker Road house was recorded last year when another new residence sold for $3.185 million.
The median house price for Strathfield in August this year was $1.937m, a significant rise the median price for August 2013, which was at $1.285 million.
Sydney’s record-breaking early spring home auction market weakened at the weekend reporting its lowest clearance rate for two months, according to Australian Property Monitors.
The 79.3% initial result broke a sequence of nine consecutive weekend rates above 80% when 747 homes were listed to go under the hammer at the weekend, the highest weekend offering since May.
The inner west continued the recent trend of reporting the highest suburban region clearance rate at the weekend with 89 auction sales from 100 reported results for a clearance rate of 89%.
The inner west was again this weekend closely followed by the lower north shore with a clearance rate of 84%.
