Auction Markets See Mixed Results Following Holiday Distractions
With Sydney recording its lowest clearance rate of the year.
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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.
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The nearly 10,000-square-foot home stands right at the entrance to the Amazon billionaire’s grand, $165 million estate.
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A home that’s right at the entrance to Jeff Bezos’s Beverly HIlls estate, which the billionaire purchased for $165 million in 2020, is now on the market asking $19.8 million.
Shaded by mature olive trees, the three-story modern mansion on Angelo Drive spans nearly 10,000 square feet, and includes five bedrooms, a bar and lounge, a home cinema, a pool with floating benches, and a 15-car garage.
The modern home centers around a striking wood staircase that extends through all three floors, creating an eye-shaped spiral.
Other design choices include a full-height black marble fireplace, herringbone wood flooring, grayscale marble backsplashes in the kitchen and bathroom, banks of floor-to-ceiling windows and a seating area in the middle of the pool.
There is also an outdoor kitchen and eating area poolside, and a living space with sliding doors that open directly onto the pool deck, for indoor/outdoor living.
The home was built in 2021 and designed by Gabbay Architects for the owner, who purchased the underlying property for $4.1 million in 2015, according to property records accessed through PropertyShark.
The seller, who runs a Beverly Hills-based plastic surgery practice, could not immediately be reached for comment.
The Benedict Canyon house came to market Friday with Tomer Fridman of Christie’s International Real Estate. He could not immediately be reached for comment.
The Bezos estate is also known as the Warner Estate, named after its first owner, Hollywood mogul Jack Warner of the Warner Bros.
After Warner, the 9-acre estate was owned by music executive and film producer David Geffen, followed by Bezos. The property includes a palatial Gregorian Revival mansion built in 1939 and designed by architect Florence Yoch to befit the status of one of the most powerful men in Hollywood.
At $19.8 million, the new listing offers quite a deal compared to other properties neighbouring Bezos. In Florida, the owner of a vacant lot next door to the Amazon founder’s estate on Indian Creek Island is asking $150 million for it.
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