Clearance Rates Hold Firm Against COVID
The national clearance rate lifted at the weekend.
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Despite Sydney being in the midst of its strictest COVID lockdown to date, the weekend auction market produced strong results for sellers.
July ended with yet another record Saturday offering for the month with all capitals reporting sharp increases in listings when compared to the previous weekend.
A total of 2203 homes were listed nationally on Saturday – up on last weekend’s 1944 and well ahead of the 919 auctioned over the same weekend last year.
The high listing numbers failed to slow the clearance rate with – 83.6% nationally – well ahead of the previous weekend’s 77.3% and the highest recorded since mid-April.
Sydney’s auction market bounced back despite lockdown woes with 623 auctions – up on last weekend’s 566. Although it is much lower than the record levels set earlier in the month.
The weekend clearance rate was also sharply higher at the weekend with the NSW capital recording 79.1% – up on last weekend’s 75.1% and higher than the 71.5% recorded over the same weekend last year.
Sydney recorded a median price of $1,700,661 for houses sold at auction at the weekend which was well above the $1,532,500 reported over the previous Saturday and 35.9% higher than the $1,251,000 recorded over the same weekend last year.
The Melbourne market saw more strong results with a 77.6% clearance rate at the weekend – sharply higher than last weekend’s 73.0%.
The strong results come in spite of a surge in listings to yet another monthly Saturday record for July – the Victorian capital recording 1264 homes listed to go under the hammer, well ahead of last weekend’s 1120.
Melbourne recorded a median price of $967,000 for houses sold at auction at the weekend which was higher than the $938,000 recorded over the previous weekend and 19.9% higher than the $806,750 recorded over 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
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
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