Auction Markets Feel COVID’s Bite
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Auction Markets Feel COVID’s Bite

Tightened restrictions clearly impacted auction markets in Australian capitals.

By Terry Christodoulou
Mon, Aug 16, 2021Grey Clock < 1 min

A total of 1872 auctions were reported nationally at the weekend (August 14), well below the previous weekend’s record August offering of 2100 but above the 725 auctioned over the same weekend last year.

The steep decline in national listings was largely caused by Sydney and Melbourne’s COVID lockdowns, listing 472 and 1138 auctions respectively.

The national clearance rate fell at the weekend down to 78.2% from 81.5% the previous weekend.

Sydney reported a strong clearance rate of 83.0% at the weekend – equal to last weekend’s result and well ahead of the 65.9% recorded over the same weekend last year.

It marks the first time the NSW capital has recorded consecutive weekend clearance rates above 80% since June, however it reflects fewer choices available for buyers.

Sydney recorded a median price of $1,626,250 houses sold at auction at the weekend – lower than the 1,695,000 reported the previous Saturday but 22.3% higher than last year’s figure.

Melbourne’s auction market tracked backwards reflecting the impact of lockdown restrictions.

The Victorian capital recorded a clearance rate of 66.0% on Saturday, well below the previous weekend’s 71.7%.

The result is Melbourne’s lowest clearance rate since October 17 2020, impacted by a high number of withdrawals – up to 41.5% from the previous weekend’s 29.5%

While listing numbers fell from 1301 to 1138, there is still considerably more volume in the market than this time last year, the corresponding 2020 weekend reporting just 124 auctions.

Melbourne recorded a median price of $1,085,00 houses sold a auction at the weekend – higher than the $960,000 of the previous weekend and 39.6% above the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.

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The waterfront residence is one of Port Stephens’ finest homes.

By Kanebridge News
Fri, Aug 12, 2022 2 min

In the coastal township of Salamander Bay — nearby to Port Stephens — comes a unique home crafted to take full advantage of unbroken ocean vistas across three levels.

With one-of-a-kind flair, the stunning 5-bedroom, 3-bathroom, 3-car garage home of 52 Randall Drive Salamander Bay is nestled on a private 577sqm plot, optimised through intelligent design to take advantage of the Port Stephens landscape and lifestyle.

Within the home sees the typically coastal textures of natural oak floor and timber feature walls take hold while stone and tiled adornments add layers of luxury.

The open plan living, kitchen and dining areas incorporate a fireplace and near floor-to-ceiling glass that opens to create a seamless indoor-to-outdoor dining and entertaining space on the home’s top floor.

The heart of this area is the kitchen, centred around a marble-topped island, state-of-the-art European appliances and an attached bar area, with built-in refrigeration, accompanied by a butler’s pantry.

Also here comes a grand outdoor spa, central to the balcony, while another outdoor entertaining area with a pizza oven is found on the middle floor.

Downstairs once again comes a second living space replete with the perfect wine cellar — cooled by the natural rock foundation of the home — offering an array of entertaining options

Of the home’s accommodation comes a private and luxurious master retreat with expansive ocean views, a walk-in wardrobe and an ensuite, here, speckled with grey terrazzo tiling and timber joinery vanities.  A further four bedrooms are found throughout the home along with two family bathrooms rounding out the offering.

Less than a five-minute walk from nearby amenities of shops, restaurants, cafes and beaches the home offers the best of the Port Stephens area.

The listing is with PRD Port Stephens’ Dane Queenan (+61 412 351 819) and Erin Sharp (+61 499 912 311) and is heading to auction; prd.com.au