Auction Market Still Strong In Spring
The auction market is building momentum.
2 min
Residential auction markets strengthened in most capitals at the weekend, as the spring selling season gathers momentum, aided by easing covid restrictions.
National auction numbers rose sharply at the weekend – after two weeks of decline – with all capitals reporting an increase in listings. A total of 1272 homes went under the hammer, compared to last weekend’s 1150 and well ahead of the 748 listed this time last year.
The national clearance rate was also up, increasing from last weekend’s 80.5% to 84.9% — the highest since April and the third consecutive increase in the national clearance rate.
Strong clearance rates in Sydney (85.1%), Brisbane (83.7%), Adelaide (89.2%) and Canberra (94.1%) lifted the national clearance rate while Melbourne (72.3%), dropped due to strict restrictions.
In Sydney, the market has stayed hot despite more listings coming to market, with numbers increasing for the fourth consecutive Saturday as 569 homes were offered for sale – up on the previous weekend’s 511.
The clearance rate was just down on last weekend’s 85.2%, but well ahead of the 72.2% recorded over the same weekend last year. It’s now the seventh consecutive weekend with clearance rates above 80%.
Sydney recorded a median price of $1,690,500 for houses sold at auction at the weekend
which was lower than the $1,714,000 reported over the previous Saturday but 31.1% higher than the $1,290,000 recorded over the same weekend last year.
Melbourne’s auction market reported a decline in the clearance rate at the weekend down from the previous 79.3% — a result of higher proportion of withdrawals from higher listing numbers – 28.7% of reported auctions withdrawn compared to the previous weekend’s 18.9%.
Listings increased for the first time in three weekends with a total of 434 auctions compared to the previous weekend’s 414.
Melbourne recorded a median price of $1,000,250 for houses sold at auction at the weekend which was lower than the $1,069,000 recorded over the previous weekend.
Data powered by Dr Andrew Wilson of 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.
2 min
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
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.
