Auction Markets Ease
Make no mistake, it’s still red hot.
2 min
The country’s auction markets have eased slightly at the weekend, yet results clearly remain in favour of sellers as the spring boom rolls on.
The national weekend clearance rate was lower for the second consecutive weekend – down from 86.1% to 83.9% — but is still well above the 70.7% reported over the same weekend last year.
Higher auction numbers may be contributing to an easing of clearance rates with numbers up from the previous Saturday’s 1858 to 1970 – more than double the 916 auctioned over the same weekend last year.
The Sydney market was lower again at the weekend, down from the previous weekend’s 86.6% to 83.6%. This result is still higher than the 78.6% recorded over the same weekend last year.
It’s the first time in six weekends that Sydney’s clearance rate has fallen below 85%.
Auction numbers were up, with 677 homes were listed for auction at the weekend — higher than the previous weekend’s 618 and up on the 639 auctioned over the same weekend last year.
Sydney recorded a median price of $1,675,000 for houses sold at auction at the weekend which was again lower than the $1,712,500 reported over the previous Saturday but 22.3% higher than the $1,370,000 recorded over the corresponding weekend in 2020.
Melbourne’s market is on the ascent with the Victorian capital posting a clearance rate of 77.0% on Saturday — similar to the previous weekend’s 76.6%, and well ahead of the 63.0% recorded over the same weekend last year.
A total of 993 homes were listed for auction at the weekend which was up when compared to the 932 from the previous weekend.
Melbourne recorded a median price of $969,500 for houses sold at auction at the weekend which was again lower than the $1,060,000 recorded over the previous weekend but 16.4% higher than the $833,000 recorded over the same weekend last year.
Record-level clearance rates however may ease over coming months as the typical wave of late season listings hits the markets – amplified by the easing of lockdown restrictions.
Data powered by Dr Andrew Wilson of My Housing Market.
As tariffs bite, Sydney’s MAISON de SABRÉ is pushing deeper into the US, holding firm on pricing and proving that resilience in luxury means more than survival.
Early indications from several big regional real-estate boards suggest March was overall another down month.
The nearly 10,000-square-foot home stands right at the entrance to the Amazon billionaire’s grand, $165 million estate.
2 min
A home that’s right at the entrance to Jeff Bezos’s Beverly HIlls estate, which the billionaire purchased for $165 million in 2020, is now on the market asking $19.8 million.
Shaded by mature olive trees, the three-story modern mansion on Angelo Drive spans nearly 10,000 square feet, and includes five bedrooms, a bar and lounge, a home cinema, a pool with floating benches, and a 15-car garage.
The modern home centers around a striking wood staircase that extends through all three floors, creating an eye-shaped spiral.
Other design choices include a full-height black marble fireplace, herringbone wood flooring, grayscale marble backsplashes in the kitchen and bathroom, banks of floor-to-ceiling windows and a seating area in the middle of the pool.
There is also an outdoor kitchen and eating area poolside, and a living space with sliding doors that open directly onto the pool deck, for indoor/outdoor living.
The home was built in 2021 and designed by Gabbay Architects for the owner, who purchased the underlying property for $4.1 million in 2015, according to property records accessed through PropertyShark.
The seller, who runs a Beverly Hills-based plastic surgery practice, could not immediately be reached for comment.
The Benedict Canyon house came to market Friday with Tomer Fridman of Christie’s International Real Estate. He could not immediately be reached for comment.
The Bezos estate is also known as the Warner Estate, named after its first owner, Hollywood mogul Jack Warner of the Warner Bros.
After Warner, the 9-acre estate was owned by music executive and film producer David Geffen, followed by Bezos. The property includes a palatial Gregorian Revival mansion built in 1939 and designed by architect Florence Yoch to befit the status of one of the most powerful men in Hollywood.
At $19.8 million, the new listing offers quite a deal compared to other properties neighbouring Bezos. In Florida, the owner of a vacant lot next door to the Amazon founder’s estate on Indian Creek Island is asking $150 million for it.
The Mayfair home, listed for £8.25 million, once belonged to the Earls of Lindsay.
The U.S. now has more billionaires than China for the first time in a decade, driven by AI and a booming stock market.
