For an empty Northbridge block, bidding stalled at $5.75 million before it eventually sold for $7.7 million.
The housing market has rebounded from last year’s weaker spring selling season, with auction clearance rates remaining above 70 per cent, indicating strong underlying demand for housing amid an extended pause in interest rate rises.
“During 2022, people were quite reluctant to list during the downturn, but the pick-up in buyer demand has meant the spring selling season vendors have come out more confident.”Just under 2300 homes were scheduled to go under the hammer in the first week of spring, but a 7.5 per cent withdrawal cut that figure to 2119.
Two empty blocks of land in Sydney’s Northbridge sold at auction for $14.75 million, soaring more than $5.5 million above their 2021 sale price, auctioneer Damien Cooley said. Bidding for one of the blocks had stalled at $5.75 million, before eventually selling for $7.7 million.Growing buyer appetite also led to a pre-auction deal for a Mosman two-bedroom, two-bathroom apartment that fetched $2.75 million.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Two empty Northbridge blocks fetch $14.75 million at auctionThe property last sold for $9.2 million just over two years ago. The house had been demolished since, and the site subdivided into two lots.
Read more »
Catstrophic fire danger declared for parts of Queensland as Australia enters warm, dry springLarge swathes of eastern and central Australia are already on high alert this spring, after the country's warmest winter on record.
Read more »
Hay fever season set to hit unprepared AustraliansAustralians are preparing for hay fever season as temperatures rise and spring begins. Doctors are advising people who suffer from seasonal allergies to seek treatment for the common irritation early in the spring and before symptoms arise.
Read more »
Where the Melbourne property market is buzzing - and where it’s showing red flagsSome Melbourne home owners wouldn’t wait any longer to sell this spring, after a “weird winter”.
Read more »
Australia experiences hottest winter on recordAustralia has recorded the hottest winter on record and is going into a warmer than usual spring.
Read more »
What will spring weather be like? BoM predicts big differences from last yearOnly two Australian regions are expected to experience close-to-normal conditions.
Read more »