Buyers Shrug Off Worries In Auction Market
Inflation and rate rise rumours no worry for buyers.
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Another big weekend for auctions saw Sydney and Melbourne’s markets revive following a flurry of activity — closing out the highest reported clearance rates in both markets since last spring.
The national auction market reported a clearance rate of 81.6% at the weekend — higher than the 79.1% reported over the previous weekend, yet lower than the 84.0% marked over the same weekend last year.
It comes as the national auction figures ascended to 1977 auctions from the previous weekend’s 1362 — and well ahead of the 1391 reported the same weekend last year.
Sydney has reported another strong result of 79.5% at the weekend — slightly down on the 80.4% reported last weekend but still significantly below the 89.1% recorded over the same weekend last year.
Further, the NSW capital recorded 784 homes listed for auction at the weekend — up on the 563 listed the previous weekend and a February record.
Sydney recorded a median price of $1,835,000 for houses sold at auction at the weekend which was higher than the $1,760,000 reported over the previous weekend and 20.3% higher than the $1,525,000 recorded over the same weekend last year.
In Melbourne, buyers continued to engage in the market in consistent numbers.
The Victorian capital saw a clearance rate of 72.3% — lower than last weekend’s 74.0% and below the 79.8% recorded this time last year.
A total of 888 homes were reported listed for auction at the weekend – well above last weekend’s 491 but also significantly higher than the 698 auctions over the same weekend last year.
Melbourne recorded a median price of $1,090,000 for houses sold at auction at the weekend which was higher than last weekend’s $914,500 and 9.8% higher than the $992,000 recorded over the same weekend last year.
Data powered by Dr Andrew Wilson, 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
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