Strong Early Spring Auction Results Continue
Most sellers experienced robust results despite restrictions.
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National auction numbers fell sharply again at the weekend as the Melbourne and Canberra markets felt the pinch of lockdown restrictions.
Just 1150 auctions were reported listed nationwide on Saturday – the lowest non-holiday weekend total since early February – yet, well ahead of the 666 auctioned over the same weekend last year.
With fewer auctions about, the national clearance rate lifted – increasing from 79.1% to 80.5% when compared to the previous Saturday.
The result comes as Melbourne’s clearance figures hold firm (79.3%), while Sydney (85.2%) and Brisbane (81.5%) pushed the rate higher at the weekend.
Adelaide (79.6%) and Canberra (76.9%) experienced a small decline.
The resilient Sydney market was the only capital to report higher auctions compared to the previous weekend.
The result follows last weekend’s strong showing which was the highest ever recorded by the local market for the opening weekend of the spring selling season.
Auction numbers increased at the weekend for the third consecutive Saturday with 511 homes offered for sale compared to the previous weekend’s 493 but lower than the 541 listed over the same weekend last year.
Sydney recorded a median price of $1,714,000 for houses sold at auction at the weekend which was higher than the $1,635,500 reported over the previous Saturday but 24.1% higher than the $1,381,000 recorded over the same weekend last year.
While in Melbourne the clearance rate experienced a 6.7% lift when compared to last weekend it was the result of fewer listings — just 414 for the weekend — and a high number of withdrawals with 18.9% of reported auctions withdrawn.
Melbourne recorded a median price of $1,069,000 for houses sold at auction at the weekend which was higher than the $918,000 recorded over the previous weekend.
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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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