Winter Fails To Cool Hot Auction Market
Records continue to tumble across the Australian capitals.
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This past Saturday, saw a June record 2888 homes reported for auction across state capitals.
As expected, this figure was well ahead of the previous holiday weekend’s 1413, and nearly three times the 1019 listed over the same weekend last year. It was the second-highest number of listings for the year, only surpassed by the 3118 recorded over the pre-Easter Saturday of April 27.
Despite the record numbers, the market continues its firm ascent with a national clearance rate of 82.3% achieved nationally. Saturday’s national result was also the highest recorded for six weeks.
Sydney’s recorded clearance rate of 80.8% was up on the previous weekend’s 77.8% and well ahead of the 67.9% recorded over the same weekend in 2020.
The NSW capital reported 1036 auctions on Saturday, just below the June record of 1048 set two weeks ago.
Further, the median price for houses sold at auction at the weekend in Sydney was $1,610,000, higher than the $1,555,000 reported over the previous Saturday and 19,9% higher than the same weekend last year.
In Melbourne, 1566 auctions were reported which smashed the June record 1379 set just two weekends ago – and was well above the 480 reported over the same weekend last year.
Melbourne recorded a clearance rate of 84.4% — a dramatic rise compared to the 69.0% reported the previous weekend. The median price of $979,000 for houses sold at auction proved 10% higher than the same weekend last year.
Data powered by Dr. Andrew Wilson of My Housing Market.
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Former Google CEO Eric Schmidt is selling his Northern California estate, which was listed Monday for $24.5 million.
Located in Atherton, an extremely affluent town northwest of Palo Alto and about 30 miles south of San Francisco, the 3.36-acre property is made up of three parcels that Schmidt acquired over the years, according to public records and Compass, who has the listing.
Schmidt, 69, and his wife, businesswoman Wendy Schmidt, purchased the main home in 1990 for $2 million, according to public records accessed via PropertyShark. They remodelled the 1969 home in 2007, and at that time, bought a neighbouring parcel of land, allowing an expansion of the main house and the addition of a guest house, according to Compass, who holds the listing. A third parcel was later acquired, on which the Schmidts added an English garden house and landscaped grounds overlooking the Eastern Hills.
“Finding three contiguous parcels in Atherton is rare. Even rarer are those with views of the Eastern hills,” said listing agent Katharine Carroll of the reSolve Group at Compass. “The location of this residence is ultra private, at the back of a cul-de-sac with the main house built into a hillside that provides privacy and very good security.”
Across the estate, there are five bedrooms, five full bathrooms and six half bathrooms.
The 5,265-square-foot main house also offers a number of private outdoor spaces on its upper level, including a large terrace off the primary suite, another large terrace off a secondary bedroom, plus a third smaller terrace and two balconies.
Behind the main house is a patio with a pool and spa. For even more outdoor space, there’s an entertaining pavilion, an open lawn and an outdoor fireplace area near the guest quarters.
The grounds themselves are also a standout feature, with an array of mature plants and specimen trees. The upper portion of the property’s landscaping is designed around an Amdega-designed conservatory, which was imported from the U.K. Around the greenhouse, there is a garden of raised beds and fruit trees, Carroll said.
“From the moment you step onto the grounds, it feels as if you’ve been transported to a private botanical sanctuary,” she said.
Schmidt served as Google’s CEO from 2001 to 2011, and then became the company’s executive chairman until 2015. He could not be reached for comment.
This article first appeared on Mansion Global
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