Latest NewsSales Survive Election WoesSunday, 12 March 2017

The August residential auction market finished on a strong showing with a 68 per cent weekend success rate, despite the uncertainty of the recent election.

An overall 66 per cent clearance rate this month, with only a handful of auctions to go, will rank as the best monthly result since April.

It was also a weekend of inner-city records. The dearest sale on Appian Way at Burwood was a six-bedroom house fetching a record $4,175,000. It bettered $4.05 million on the same street in 2008.

It had been renovated since traded in 1999 at $1.2 million.

Another record was set when 'Yarraville', a renovated Georgian residence on 583 square metres, fetched $3.2 million. It had also undergone considerable extensions since traded in 1991 for $254,000.

Agents sold 215 of the 292 reported weekend results, according to Australian Property Monitors. It was a marked increase in volume on last weekend when the election limited activity to 165 auctions.

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