Auction Markets See Mixed Results Following Holiday Distractions
Kanebridge News
Share Button

Auction Markets See Mixed Results Following Holiday Distractions

With Sydney recording its lowest clearance rate of the year.

By Terry Christodoulou
Mon, May 2, 2022 9:24amGrey Clock 2 min

Following on from two weeks of Easter and Anzac Day distractions, capital city auction clearance rates were mostly steady at the weekend.

The national auction market reported a clearance rate of 73.1 % at the weekend which was lower than the 74.9% reported the previous weekend and well below the 83.3% recorded over the same weekend last year.

Across the country, auction numbers were predictably higher at the weekend – with 2231 listed compared to the previous holiday weekend’s 1460. However, it was lower, marginally, than the 2287 reported over the same weekend last year.

Sydney clearance rates were the lowest for the year so far with a surge in post-holiday listings.

The NSW capital reported a clearance rate of 64.5% at the weekend – similar to the 64.6% effort of last weekend but well below the 84.6% recorded over the same weekend last year.

A total of 822 Sydney homes were listed for auction on Saturday — higher than the 634 auctioned over last weekend’s holiday break but well below the 934 listed on the corresponding weekend last year.

Sydney recorded a median price of $1,765,500 for houses sold at auction at the weekend which was higher than the $1,525,000 recorded last weekend and 11.0 % higher than the same weekend last year’s $1,590,500.

Melbourne out-performed Sydney this weekend with a clearance rate of 71.8% on Saturday – similar to the 71.5% record over the previous weekend yet lower than the 80.1% recorded over the same weekend last year.

The Victorian capital saw 1116 homes were reported listed at the weekend which was predictably significantly higher than the 577 reported over the previous holiday weekend and also higher than the 1034 listed over the same weekend last year.

Further, Melbourne recorded a median price of $1,051,000 for houses sold at auction at the weekend which was higher than the $907,500 reported last weekend and also 5.0% higher than the $1,001,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.

MOST POPULAR

Interior designer Thomas Hamel on where it goes wrong in so many homes.

Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.

Related Stories
Property
The Luxury Home Market Posts Its Biggest Decline in a Decade. ‘It’s Like Crickets.’
By KATHERINE CLARKE 23/09/2022
Property
Climbing Housing Costs Could Prop Up Inflation for a While
By DAVID HARRISON 21/09/2022
Property
This Apartment at New York’s Plaza Hotel Has Central Park Views From Every Room
By FANG BLOCK 16/09/2022
Related Stories

The 390-acre property has 2 miles of frontage on the Rogue River

By LIBERTINA BRANDT
Tue, Sep 27, 2022 8:47am 2 min

Former “Dallas” star Patrick Duffy is putting his roughly 390-acre Oregon ranch on the market for $14 million.

The property sits along the Rogue River outside the city of Medford in southern Oregon, according to Alan DeVries of Sotheby’s International Realty, who has the listing with colleague Matt Cook.

Mr. Duffy said he bought the first roughly 130 acres of the property in 1990 for roughly $1.5 million with his late wife, Carlyn Rosser. The couple spent roughly two decades and about $3 million buying surrounding properties when they went up for sale, said the actor, who has made the ranch his primary home since the early 2000s.

“My family always felt like we were stewards as opposed to owners,” said Mr. Duffy, 73. “We kept the boundaries sacred.”

Mr. Duffy said he first saw the property while fishing with a friend. The property contained a few structures, including what is now the main house, but was mostly wilderness, he said.

“It was pristine,” he said. “There was no paved road. There were some trails through the woods and about a mile—a little less than a mile—of river frontage.”

Mr. Duffy said he flew Ms. Rosser out to see the ranch, and they bought it. The main house has four bedrooms, and connects to a gallery where the couple displayed their art collection. They converted a caretaker’s cottage into a one-bedroom guesthouse with a loft. They also added a building that contains a hot tub overlooking the river, a structure for an indoor lap pool, and a wine cellar built into the side of a mountain, all within walking distance of each other.

As they purchased adjacent properties over the years, they acquired eight more houses and several pastures that are rented out to local ranchers. One of the homes was demolished, six are rented to tenants, and one is used as the ranch manager’s house, according to Mr. Duffy.

“We became a working ranch but not with our own animals,” he said. “It added the most beautiful, bucolic sense of the place.”

A homestead that dates back over 100 years still sits at the entrance to the property, he said. In it he found an old stove, which he restored and put in the main house. But the majority of the roughly 390 acres remains wilderness. The property now has approximately 2 miles of river frontage, according to Mr. DeVries.

For roughly a decade, Mr. Duffy and Ms. Rosser used the ranch as a family getaway from their primary home in Los Angeles. Then in the early 2000s, when their children went off to college, they decided to move there full time.

Ms. Rosser died in 2017, and Mr. Duffy said he plans to move full-time to either California or Colorado. He will keep a few parcels of land that aren’t attached to the main ranch, according to Mr. DeVries.

Mr. Duffy is well-known for his role as Bobby Ewing in the TV drama “Dallas,” which ran from 1978 to 1991. He also played Frank Lambert on the 1990s sitcom “Step By Step.” Today he runs an online sourdough business, called Duffy’s Dough, with his partner, Linda Purl.

Related Stories
Property
Auction Markets Tumble Following Rate Rise
By Terry Christodoulou 09/05/2022
Property
Queensland Top Pick For Property Invement
By Terry Christodoulou 19/10/2021
Property
TikTokers Filmed Inside A $7 Million Listing. It Sold In Two Weeks.
By Candace Taylor 05/07/2021