Auction Markets Still Strong Nationwide
The national clearance rate increased at the weekend.
The national clearance rate increased at the weekend.
Capital city auction markets reported more strong results at the weekend with little signs of easing.
A total of 1943 auctions were reported listed nationally at the weekend, August 21, higher than the previous weekend’s 1872 and significantly higher than the 684 auctions over the same weekend last year.
The national clearance rate also increased at the weekend – up to 80.7% compared to the previous Saturday’s 78.2%.
Sydney provided a strong clearance rate of 86.3% albeit from a relatively scarce selection of just 412 homes offered for sale on Saturday – down on the previous weekend’s 472 auctions.
Fewer auction withdrawals however continue to support higher clearance rates with the withdrawal rate falling to 12% on Saturday – less than the previous two weekends of 13.1% and 14.6%.
Sydney recorded a median price of $1,878,000 for houses sold at auction, well above the $1,626,250 reported over the previous Saturday and 40.4% higher than the 1,337,500 recorded for the corresponding weekend last year.
Melbourne’s auction market held the line on Saturday despite increasing lockdown restrictions.
The Victorian capital recorded a clearance rate of 64.9% – just below the previous weekend’s 66%.
The poor results were a reflection of shutdown-related withdrawals – rising from the previous weekend’s 41.5% to a remarkable 52.6%.
Listing numbers were higher at the weekend, up from the previous weekend’s 1138 to 1273.
The median price for a house sold at auction in Melbourne at the weekend was $1,018,000 – lower than the $1,085,000 recorded over the previous weekend.
Data powered by Dr Andrew Wilson, My Housing Market.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
A Sydney site with a questionable past is reborn as a luxe residential environment ideal for indulging in dining out
Long-term Sydney residents always had handful of not-so-glamourous nicknames for the building on the corner of Cleveland and Baptist Streets straddling Redfern and Surry Hills, but after a modern rebirth that’s all changed.
Once known as “Murder Mall” or “Methadone Mall”, the 1960s-built Surry Hills Shopping Centre was a magnet for colourful characters and questionable behaviour. Today, however, a $500 million facelift of the site — alongside a slow and steady gentrification of the two neighbouring suburbs — the prime corner property has been transformed into a luxury apartment complex Surry Hills Village by developer Toga Group.
The crowning feature of the 122-apartment project is the three-bedroom penthouse, fully completed and just released to market with a $7.5 million price guide.
Measuring 211sqm of internal space, with a 136sqm terrace complete with landscaping, the penthouse is the brand new brainchild of Surry Hills local Adam Haddow, director of architecture at award-winning firm SJB.
Victoria Judge, senior associate and co-interior design lead at SJB says Surry Hills Village sets a new residential benchmark for the southern end of Surry Hills.
“The residential offering is well-appointed, confident, luxe and bohemian. Smart enough to know what makes good living, and cool enough to hold its own amongst design-centric Surry Hills.”
Allan Vidor, managing director of Toga Group, adds that the penthouse is the quintessential jewel in the crown of Surry Hills Village.
“Bringing together a distinct design that draws on the beauty and vibrancy of Sydney; grand spaces and the finest finishes across a significant footprint, located only a stone’s throw away from the exciting cultural hub of Crown St and Surry Hills.”
Created to maximise views of the city skyline and parkland, the top floor apartment has a practical layout including a wide private lobby leading to the main living room, a sleek kitchen featuring Pietra Verde marble and a concealed butler’s pantry Sub-Zero Wolf appliances, full-height Aspen elm joinery panels hiding storage throughout, flamed Saville stone flooring, a powder room, and two car spaces with a personal EV.
All three bedrooms have large wardrobes and ensuites with bathrooms fittings such as freestanding baths, artisan penny tiles, emerald marble surfaces and brushed-nickel accents.
Additional features of the entertainer’s home include leather-bound joinery doors opening to a full wet bar with Sub-Zero wine fridge and Sub-Zero Wolf barbecue.
The Surry Hills Village precinct will open in stages until autumn next year and once complete, Wunderlich Lane will be home to a collection of 25 restaurants and bars plus wellness and boutique retail. The EVE Hotel Sydney will open later in 2024, offering guests an immersive experience in the precinct’s art, culture, and culinary offerings.
The Surry Hills Village penthouse on Baptist is now finished and ready to move into with marketing through Toga Group and inquiries to 1800 554 556.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.