Auction Markets Strong In Face Of COVID
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Auction Markets Strong In Face Of COVID

The nation’s capitals showed resistance against uncertainty.

By Kanebridge News
Mon, Jul 19, 2021 10:38amGrey Clock 2 min

Auction activity has remained strong, despite increased COVID restrictions across Sydney and Melbourne.

A total of 2179 homes were listed for auction capital city markets on Saturday, July 17 – a new record for July, surpassing the previous high of 1869 set just last weekend.

Across all capitals, auction numbers continue to track around double the levels recorded for the same weekend last year.

Record auction numbers also failed to slow the auction clearance rate with a national rate of 80.5%, higher than last weekend’s 79.5% and well ahead of the 62.5% recorded over the same weekend last year.

Clearance rates were higher in all capitals on Saturday – with the exception of Canberra and lockdown impeded Melbourne – the latter recording the lowest result of all the auction capitals (73.2%).

In Sydney, auction clearance rates held the line against tightening restrictions with a rate of 78.0% – a small rise from last weekend’s year low of 76.6%.

The weekend clearance rate continues to be influenced by a high number of withdrawals with a total of 21.0% of reported auctions  – around double the pre-shutdown results.

Still, a July record of 872 auctions was reported listed in Sydney on Saturday – higher than the 782 auctioned the previous weekend and well ahead of the 471 recorded over the same weekend last year.

Sydney recorded a median price of $1,603,000 for houses sold at auction at the weekend which was similar to the $1,631,000 reported over the previous Saturday.

However, Melbourne’s market proved to be less resilient when faced with the lockdown.

The Victorian capital still reported a robust 73.2% clearance rate, however, was down on last weekend’s 76.7%  – the lowest weekend result since the previous shutdown impacted the result on June 12 at 69.0%.

The lower clearance rate was clearly impacted in a surge of lockdown-related withdrawals with 27.4% of listed auctions reported withdrawn – well ahead of the 9.5% withdrawals reported the previous Saturday.

Another July record 1061 homes were listed to go under the hammer on Saturday –  ahead of last weekend’s previous record 977 auctions.

Melbourne recorded a median price of $992,500 for houses sold at auction at the weekend which was higher than the $983,000 recorded over the previous weekend and 20.2% higher than the $825,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson of My Housing Market.

 



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The four-storey, lemon-hued villa boasts more than 16,000 square feet of living space and historic character and charm by the bucket load

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A 14th-century villa in the hills overlooking Florence, Italy, has hit the market for €12 million (US$13 million).

Surrounded by cypress trees, vineyards and olive groves, the quintessential Tuscan home was built for the Davanzati family—who were powerful bankers, merchants and patrons during the Italian Renaissance who have a museum named after them in the heart of the city. The villa was one of the family’s multiple country retreats, according to Lionard Luxury Real Estate, which brought the home to the market earlier this month.

Courtesy of Lionard

The four-storey, lemon-hued villa boasts more than 16,000 square feet of living space and historic character and charm by the bucket load.

The ballroom has a giant skylight.
Courtesy of Lionard

On the ground floor there are ​​a number of reception rooms and open-air living areas, with many of them boasting antique paintings, tapestries and stately fireplaces made of marble or carved stone.

The most “magnificent” room, according to Lionard, is the winter garden hall, a ballroom with stuccos, loggias and towering vaulted ceilings, illuminated by an Art Nouveau skylight.

Courtesy of Lionard

On the first floor are multiple double bedrooms and an antique library, and the second floor, while in need of renovation, offers the possibility of creating up to 12 en-suite bedrooms. The villa’s tower has a “delightful sitting room and a rooftop terrace offering a breathtaking view of the city of Florence,” the listing said.

The villa has ivy-covered loggias.
Courtesy of Lionard

The basement, meanwhile, has a cellar with brick vaults that are perfect for wine lovers. An elevator runs between the levels.

Outside, the grounds have well-kept gardens, rolling lawns, a fountain, ancient wells and ivy-covered loggias.

Mansion Global couldn’t determine who is selling the villa, or when they acquired it.

The property is “an oasis of peace,” the listing said, and “one of the most exclusive historical estates on the hills that surround the city of Florence.”

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.

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