Auction Markets Running Out Of Steam
The May seller rush continues to test the market.
< 1 min
Home auction markets reported mixed results over the weekend, May 22, as more record-level offerings tested buyer depth.
National listing numbers were again lower on Saturday but stayed within touching distance of the <ay record of 2563 reported two-weeks ago with 2333 auctions this past weekend.
The national average clearance rate increased to 82%, higher than the previous weekend’s 80.8% and the first rise in six weekends. However, despite the lift, it is smaller markets like Adelaide (90.1%) and Canberra (91.2%) carrying the results.
The larger auction capitals of Sydney and Melbourne are showing signs of fatigue and are expected to drift downwards over the next coming weekends.
Sydney reported a clearance rate of 81.5%, again lower than the 82.9% recorded the previous weekend. Saturday’s results were the fifth consecutive weekend of lower rates.
A total of 949 auctions were reported in the Harbour City, again just below the previous weekend’s 990.
Sydney has now recorded an unprecedented four consecutive weekends with more than 900 auctions, with this weekend’s median price of houses sold at auction sitting at $1,620,000, lower than the previous Saturday’s $1,641,000.
Melbourne reported a clearance rate of 76.9% which was again below the 78.6% of the previous weekend and just ahead of the 74,0% recorded over the same weekend last year.
Saturday, May 22 was the lowest clearance rate of the year so far.
A total of 117 homes were auctioned in Melbourne, close to the previous weekend’s 1159 listings.
Melbourne recorded a median price of $995,500 for houses sold at auction on the weekend which was 9.8% lower than the $1,093,000 recorded over the previous weekend, but 9.9% higher than the 906,000 recorded over the same weekend last year.
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.
The four-bedroom home “blends historic architecture, soaring open-plan living spaces and every possible contemporary comfort”
2 min
A unique home on the outskirts of London within a former chapel that had a starring role in the hit TV series “Call the Midwife” is on the rental market for £39,000 (US$48,568) per month.
The four-bedroom home was carved out of St Joseph’s Missionary College, which, founded in 1871, trained young Catholic priests to work as missionaries abroad, according to listing agency Dexters.
Before its conversion to a lavish private residence, the college’s chapel had a starring role as nursing convent Nonnatus House in the first two seasons of the feel-good BBC show, which focuses on a church-funded midwifery in the 1950s and 1960s, based on the bestselling memoirs of Jennifer Worth, a former London nurse.
When the historic college was sold for redevelopment in 2013, and production of “Call The Midwife” transferred to a studio set, the chapel—along with the rest of the building—was born again.
Dexters
Still going by the apt moniker of the Chapel, the home is the centrepiece of the site, which is now a gated development known as St Joseph’s Gate, said Dexters, which brought the home to the market in late February.
The home spans almost 10,000 square feet and “blends historic architecture, soaring open plan living spaces and every possible contemporary comfort,” said Andy Christophi, director of Dexters Finchley.
The chapel’s nave is now the dramatic heart of the home, complete with a 45-foot high vaulted timber ceiling.
The vast open-plan area—which also has columns and gothic-style arches—has a handcrafted kitchen, temperature-controlled wine storage, a curved living area with Victorian windows and enough space to easily host 30 at a dinner table, the listing said.
Above, a mezzanine bedroom has been constructed to appear as though floating above the main living area below.
The home also has a gym, a spa area with a sauna and steam room, and a media room.
“Perfect for a family that loves to entertain, its use as a filming location…makes it particularly iconic, and means you’ll never run out of dinner party conversation,” Christophi said.
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
This stylish family home combines a classic palette and finishes with a flexible floorplan
