Dragon Year Festivities Unveiled: A Tapestry of Lunar New Year Celebrations Across Australia — Sydney’s Auction Clearance Rate Hits 74%

Week’s Key Focus

Australia is brimming with the festive spirit of the Lunar New Year, hosting events to welcome the mystical and powerful Year of the Dragon. With the toll of the New Year’s bell, the grand celebration, starting this Saturday, will extend over two weeks.

The celebration activities in major cities have turned streets and alleys into a splendid sea of red, with thousands flocking to Chinatowns and major Chinese communities to partake in the festivities and marvel at the impressive dragon and lion dances.

Sydney’s Chinatown, in particular, is buzzing with the joy and excitement of the festival. Narrow streets are adorned with fluttering red and gold decorations.

Mayor Clover Moore, dressed in exquisite traditional silk attire, personally distributes red envelopes symbolizing good fortune and prosperity to citizens and businesses on the streets.

“The Year of the Dragon symbolizes endless possibilities,” the Mayor shares her optimistic vision for the future. “In the zodiac, the Dragon, with its unique mythological essence, represents vitality and creativity, heralding a year of ambition and enthusiasm.”

To the beat of the dragon dance drums, children are hoisted high on their parents’ shoulders, watching intently.

To make way for food stalls, street performances, and fun activities, traffic will be restricted from the evening in the Haymarket area on Thomas St, Hay St, Sussex St, and Harbour St.

On Dixon St, people can look up to a towering 5-meter wooden dragon, while George St is illuminated by lanterns representing the twelve zodiac signs, adding to the festive atmosphere.

Sydney’s celebration spans 16 days, with over 70 events unfolding, including dragon boat races and various cultural performances, offering a feast for the eyes.

Auction Results Last Week

  • Sydney: 688 properties were auctioned, with 455 auction results reported, 336 properties sold, achieving a clearance rate of 74%, and a total auction value of AUD 379,894,569, with a median house price of AUD 1,480,000;
  • Melbourne: 577 properties were auctioned, with 439 auction results reported, 296 properties sold, achieving a clearance rate of 67%, and a total auction value of AUD 233,968,576, with a median house price of AUD 925,000;

Top 5 Auction Prices in Sydney Last Week: Houses

▼TOP 1. AUD  $5,908,000

Address: 4 Hay St, Collaroy NSW 2097

Land Size:462 sqm

House | 4 Bed | 3 Bath | 3 Parking 

▼TOP 2. AUD  $5,250,000

Address: 19 Balfour St, Lindfield NSW 2070

Land Size:  1252 sqm

House | 5 Bed | 3 Bath | 2 Parking

▼TOP 3. AUD  $5,000,000

Address: 113 Darley Rd, Manly NSW 2095

Land Size: 500 sqm

House | 5 Bed | 3 Bath | 3 Parking

▼TOP 4. AUD  $4,461,000

Address:2 Thorpe St, Clovelly NSW 2031

Land Size: 310 sqm

House | 3 Bed | 1 Bath | 1 Parking

▼TOP 5. AUD  $4,400,000

Address:7A Wahroonga Av, Wahroonga NSW 2076

Land Size: 910 sqm

House | 5 Bed | 4 Bath | 2 Parking

Top 5 Auction Prices in Sydney Last Week: Units

▼TOP 1. AUD   $3,600,000

Address: 55/41-45 Phillips St, Cabarita NSW 2137

Unit | 4  Bed |  2 Bath | 2 parking

▼TOP 2. AUD   $3,100,000

Address: 2/104 Elizabeth Bay Rd, Elizabeth Bay NSW 2011

Unit |  2 Bed |  1 Bath | 1 Parking

▼TOP 3. AUD   $2,800,000

Address: 27/58 Kurraba Rd, Neutral Bay NSW 2089

Unit | 3 Bed | 2  Bath  | 2 Parking

▼TOP 4. AUD   $2,700,000

Address: 22/55 Garland Rd, Naremburn NSW 2065

Townhouse | 3 Bed |  2 Bath  | 2 Parking

▼TOP 5. AUD   $2,600,000

Address: 322A Concord Rd, Concord West NSW 2138

Duplex |  5 Bed | 3 Bath   | 1 Parking

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