Jonathan Chancellor | 2 December 2012

Capital city auctions cool as thoroughbred breeder families top weekend auction results

The reputed $4.4 million sale of a renovated Middle Park at auction yesterday to Santic thoroughbred horse breeding family topped weekend auction results.

The Cayzer agency would not comment on the strong result for the five-bedroom house (pictured above), which The Age reported was rumoured to have sold for $4.25 million six weeks ago in an off-market deal that collapsed.

It was offered by another horse racing industry family, the Dorgans. It last sold at $2.28 million in 2006.

The weekend auction clearance rate held steady at 60%, according to data collected by the Real Estate Institute of Victoria, from the results of 853 auction. But estate agent Kieran tweeted  "not many buyers around, but the smaller number were good quality". 

A further 80 or so auction results are yet to be included in the REIV results, which could result in the tally falling slightly below the year to date average.

Sydney vendors however suffered in the over-burdened heat of the last-minute rush to sell before Christmas with a 54% clearance rate.

The dearest sale was a five-bedroom Strathfield house for $2.82 million.

The revised tally for the prior weekend fell from 59.7% to 54.2% after extra results were included.

Sydney had about 575 auctions this past weekend, according to Australian Property Monitors, which was about 7% up on the same Saturday last year.

Next weekend there are around 650 auctions scheduled, then 500 in a fortnight, a very late and heavy offering for the lead into Christmas.

Melbourne has around 970 auctions next weekend, according to the Real Estate Institute of Victoria. The following weekend there are around 930 auctions.