Auction Markets Running Out Of Steam
Kanebridge News
Share Button

Auction Markets Running Out Of Steam

The May seller rush continues to test the market.

By Kanebridge News
Mon, May 24, 2021 11:10amGrey Clock < 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.



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Property
Property of the week: 10 Orient Court, Buderim
By Kirsten Craze 13/09/2024
Property
Trump Says He Would Ban Mortgages for Undocumented Immigrants
By WILL PARKER 06/09/2024
Property
Positive gearing suburbs in Australia’s hottest property market
By Bronwyn Allen 06/09/2024
Property of the week: 10 Orient Court, Buderim

This sky-high home on the Sunshine Coast with iconic shipping container pool is a testament to modern design and engineering.

By Kirsten Craze
Fri, Sep 13, 2024 3 min

A breathtaking view and a lush quarter-acre block are high up the wish list with any lifestyle property, but this contemporary Buderim residence takes things to another level.

Designed and built by owners Stu and Nat Faid, the Sunshine Coast home reflects their vision and incredible attention to detail.

As an architect and designer, Nat believes a prime position deserves an incredible project.

“The heart of the house is undoubtedly the living area and expansive deck. At over 100sq m and elevated more than 6m above the ground, you literally feel like you’re floating. We love how the views stretch from the Glass House Mountains along the coastline to Mooloolaba. Across the ocean, you can even see the sandbanks on Moreton Island,” she says.

While the views and the 1024sq m land parcel make their mark, it’s the suspended 12m heated shipping container swimming pool that’s making waves locally.

“When people arrive, the first thing they do is look up,” Nat adds.

After purchasing the property in 2021, the pair knew the existing house wouldn’t live up to their family of four, but they fell in love with the location and outlook so decided to adapt.

Initially, the pool’s unique design was simply a reaction to an everyday Queensland problem, but ultimately became a feature.

“The pool was at first a product of practicality. We wanted to be able to watch the kids in the pool from the house, but to do that required elevating the pool more than six meters off the ground,” Stu says.

“When we looked at the engineering required, it conflicted with our minimal-touch ethos in preserving the land and the visual aesthetic of the finished design. What followed was a lot of searching for a solution, and as luck would have it, the answer was almost on our doorstep.”

Shipping Container Pools seemed like a no-brainer answer to the pool problem. Having moved internationally multiple times, the couple saw an opportunity to weave their personal story into the fabric of their new home.

“The opportunity to incorporate a nod to that chapter of our life into the build was too good to miss,” he says.

“It also unashamedly reinforces the origins of the pool construction, which ties into the rest of the design in the house. Throughout the home, we have embraced where the old meets the new, we have not tried to blend, cover or hide the origins of the home, we have chosen instead to make sure the evolution of the house is clear to see.”

The Faids’ global family journey is evident throughout the home, from the grand Middle Eastern entry doors sourced from Dubai where the couple once lived, to the remarkable views from the Glass House Mountains to Mooloolaba.

Created to enjoy every season, the house has a space for all eventualities with an open plan living area spilling out to the full-width deck and pool, a sleek kitchen with an Ilve integrated fridge and freezer, Bosch ovens, an induction cooktop, built-in coffee machine and microwave, two dishwashers, filtered water and a butler’s pantry.

Four spacious bedrooms each have built-ins, the main features a large ensuite with twin vanities and two more bedrooms share a“Jack and Jill” style bathroom. There is also a third full bathroom.

The Buderim home is 12.5kms from Mooloolaba and the Mooloolaba River National Park with the Sunshine Coast Airport 13.5kms to the north, however Stu adds that there is rarely a reason to leave.

“It would be fair to say that apart from popping down the hill to go to the beach, we often go days without ever leaving the village. It’s really is a wonderful spot.”

Packed with mod cons, the Buderim home also features six-zone ducted air-conditioning, engineered oak floors and a double-sided Stuv wood-burning fireplace, a mudroom, heated floors and sensor lights in the bathrooms. There is also a private elevator, solar power and battery, as well as landscaped gardens and a large lock up garage and shed.

The property at 10 Orient Court, Buderim is listed with Zoe Byrne and Greg Ward from Ray White Buderim and will go to auction on September 22 at 9am at Mercedes-Benz Sunshine Coast, 65 Maroochy Blvd, Maroochydore.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Lifestyle
Blackstone’s Private-Equity Returns Trail the S&P 500
By Andrew Bary 19/07/2024
Money
Is the Stock Market Near Its Top?
By ANDY KESSLER 15/07/2024
Money
Why Cheap Toilet Paper Sets Off Alarm Bells Among Some Investors
By AARON BACK 03/07/2024
0
    Your Cart
    Your cart is emptyReturn to Shop