Flood Of Listings Hits The Auction Market
Clearance rates hold firm despite the deluge.
2 min
Auction markets across the country surged this weekend with buyers and sellers enjoying the restriction-free access to housing markets following the easing of covid lockdowns.
The surge in listings had little effect on buyer activity with formidable results continuing in all capitals.
The national weekend clearance rate sat at above 80% for the eighth consecutive weekend and although lower than the previous weekend’s 84.7% is still well above the 73.9% reported over the same weekend last year.
National auction numbers were higher at the weekend – up from the previous Saturday’s 2048 to 2424 – and well ahead of the 1261 auctioned over the same weekend last year.
The Sydney market is back above 80% — bouncing back from the previous weekend’s 77.0% and also above the 79.1% for the same weekend last year.
The results comes despite a lift in auction numbers with 887 homes listed for auction – up on the previous weekend’s 721 and well above the 768 auctioned over the same weekend last year.
Auction numbers were the highest since the lockdown impacted market in early July.
Sydney recorded a median price of $1,900,000 for houses sold at auction at the weekend which was well above the $1,685,000 reported over the previous Saturday and 25.8% higher than the $1,510,000 recorded over the same weekend last year.
Melbourne continued its strong run out of lockdown with a clearance rate of 80.5% over the weekend – similar to the previous weekend’s 80.4% and higher than the 78.0% recorded over the same weekend last year.
A total of 1193 homes were listed for auction at the weekend — higher than the 994 reported over the previous weekend and well above the 395 auctioned over the same weekend last year.
Melbourne recorded a median price of $1,145,000 for houses sold at auction at the weekend which was higher than the $1,048,000 recorded over the previous weekend and 27.4% higher than the $898,500 recorded over the same weekend last year.
Auction markets continue to report strong results for most sellers despite a wave of new listings reflecting the recent end of lockdowns. Buyer depth however will be tested over coming weekends as the end of year rush-to-market by sellers continues.
Data powered by Dr Andrew Wilson, My Housing Market.
Copyright 2020, Dow Jones & Company, Inc. All Rights Reserved Worldwide. LEARN MORE
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
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
