Auction Markets Lower On Federal Election Day

With buyers distracted by the federal election, property auction clearance rates were generally lower at the weekend across the country.

The national auction market reported a clearance rate of 71.4% at the weekend — the same as reported last weekend but lower than the 82.0% recorded over the same weekend last year. Clearance rates continue to track at year-low levels.

National auction numbers were predictably lower at the weekend due to distractions on election day. Only 1137 homes were reported listed compared to the previous weekend’s 2372 and well below the same weekend last year’s number of 2333.

In Sydney, there was a small lift in clearance rates, up to 68.9% at the weekend — higher than the 64.1% recorded last weekend but well down on the 81.5% recorded this time last year.

The lift in clearance rates can be attributed to only 335 homes being listed for auction. Lower than the 810 auctioned the weekend prior and well below last year’s efforts of 949.

Sydney recorded a median price of $1,600,000 for houses sold at auction at the weekend which was lower than the $1,690,000 recorded last weekend and 1.2% lower than the same weekend last year’s $1,620,00.

Melbourne’s home auction market weakened at the weekend, reported a year-to-date low of 63.8% — a drop from the 68.78% recorded over the previous weekend and well below the 76.9% recorded over the same weekend last year.

The Victorian capital reported 594 homes listed at the weekend – lower than the 1165 reported over the previous Super Saturday weekend and well below the 1117 listed over the same weekend last year.

Melbourne recorded a median price of $1,030,000 for houses sold at auction at the weekend which was lower than the $1,203,000 reported last weekend but 3.5% higher than the $995,500 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.

Former Aussie Rules player Jeff Chapman’s dream beach house, which has had its praises sung by The Independent in the UK, is back on the market with a revised – and more competitive – price guide.

The contemporary pavilion-style residence Alinghi, created by celebrated architect James Grose, was voted one of the top five beach houses in the world by the British newspaper and has been operating as a luxury holiday rental earning up to $7000 a week.

The one-time Melbourne forward and founder of Bennelong Funds Management, and his wife Carena Shankar, listed the five-bedroom getaway back in mid 2024 with hopes of about $8 million. The prestige property is now back with new agent Pauline Karatau of Ray White New Farm and the amended guide now sits at $6.5 million.

As part of the private 5ha Rocky Point estate, at the southern end of the Great Barrier Reef overlooking Honeymoon Bay, the glamorous holiday home shares not only a private beach with just four other neighbours, but also a 30m saltwater pool, a full-size tennis court, a beach cabana with barbecue facilities and a full-time live-in caretaker on site.

Alinghi seemingly floats against the cliffs of North Queensland’s Capricorn Coast consisting of two pavilions and shallow reflections pools for ultimate serenity. Residence number 5 is home to a two-storey main pavilion with large living spaces spilling onto semi-enclosed areas framing enviable ocean views. Upstairs there are four bedrooms, including two with ensuites. The second pavilion is a private retreat housing the main bedroom suite with an additional study or wellness space.

Crafted by Grose to leave minimal impact on its natural environment, the house features external materials sourced locally including rich cedar, plus glass and Travertine stone specifically chosen to blend and weather with the landscape over time.

The low maintenance property is also relatively self sufficient thanks to water tanks collecting the region’s abundant rainfall. Despite it’s northern Queensland address air-conditioning is an after-thought due to the clever cross-ventilation design principles and deliberate orientation capturing ocean breezes that flow through the large footprint.

Alinghi’s external lightning has also been carefully designed to be low voltage with minimum impact upon the local wildlife including wallabies, echidnas, goannas, turtles and even a diverse range of native birds. From the private terraces throughout winter, homeowners can also track the migratory whales.

Alinghi is a 90-minute drive away from Agnes Waters and its sister town of 1770 (also known as Seventeen Seventy). It is approximately 120kms from Bundaberg, which is home to a well-serviced domestic airport.

Alinghi is listed for sale with a price guide of $6.5 million via Ray White New Farm agent Pauline Karatau on 0418 733 773.