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previous 79.3% — a result of higher proportion of withdrawals from higher listing numbers – 28.7% of reported auctions withdrawn compared to the previous weekend’s 18.9%.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.
A Sydney site with a questionable past is reborn as a luxe residential environment ideal for indulging in dining out
2 min
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.
