Buyers Shrug Off Worries In Auction Market
Inflation and rate rise rumours no worry for buyers.
2 min
Another big weekend for auctions saw Sydney and Melbourne’s markets revive following a flurry of activity — closing out the highest reported clearance rates in both markets since last spring.
The national auction market reported a clearance rate of 81.6% at the weekend — higher than the 79.1% reported over the previous weekend, yet lower than the 84.0% marked over the same weekend last year.
It comes as the national auction figures ascended to 1977 auctions from the previous weekend’s 1362 — and well ahead of the 1391 reported the same weekend last year.
Sydney has reported another strong result of 79.5% at the weekend — slightly down on the 80.4% reported last weekend but still significantly below the 89.1% recorded over the same weekend last year.
Further, the NSW capital recorded 784 homes listed for auction at the weekend — up on the 563 listed the previous weekend and a February record.
Sydney recorded a median price of $1,835,000 for houses sold at auction at the weekend which was higher than the $1,760,000 reported over the previous weekend and 20.3% higher than the $1,525,000 recorded over the same weekend last year.
In Melbourne, buyers continued to engage in the market in consistent numbers.
The Victorian capital saw a clearance rate of 72.3% — lower than last weekend’s 74.0% and below the 79.8% recorded this time last year.
A total of 888 homes were reported listed for auction at the weekend – well above last weekend’s 491 but also significantly higher than the 698 auctions over the same weekend last year.
Melbourne recorded a median price of $1,090,000 for houses sold at auction at the weekend which was higher than last weekend’s $914,500 and 9.8% higher than the $992,000 recorded over the same weekend last year.
Data powered by Dr Andrew Wilson, 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.
A Sydney site with a questionable past is reborn as a luxe residential environment ideal for indulging in dining out
2 min
Long-term Sydney residents always had handful of not-so-glamourous nicknames for the building on the corner of Cleveland and Baptist Streets straddling Redfern and Surry Hills, but after a modern rebirth that’s all changed.
Once known as “Murder Mall” or “Methadone Mall”, the 1960s-built Surry Hills Shopping Centre was a magnet for colourful characters and questionable behaviour. Today, however, a $500 million facelift of the site — alongside a slow and steady gentrification of the two neighbouring suburbs — the prime corner property has been transformed into a luxury apartment complex Surry Hills Village by developer Toga Group.
The crowning feature of the 122-apartment project is the three-bedroom penthouse, fully completed and just released to market with a $7.5 million price guide.
Measuring 211sqm of internal space, with a 136sqm terrace complete with landscaping, the penthouse is the brand new brainchild of Surry Hills local Adam Haddow, director of architecture at award-winning firm SJB.
Victoria Judge, senior associate and co-interior design lead at SJB says Surry Hills Village sets a new residential benchmark for the southern end of Surry Hills.
“The residential offering is well-appointed, confident, luxe and bohemian. Smart enough to know what makes good living, and cool enough to hold its own amongst design-centric Surry Hills.”
Allan Vidor, managing director of Toga Group, adds that the penthouse is the quintessential jewel in the crown of Surry Hills Village.
“Bringing together a distinct design that draws on the beauty and vibrancy of Sydney; grand spaces and the finest finishes across a significant footprint, located only a stone’s throw away from the exciting cultural hub of Crown St and Surry Hills.”
Created to maximise views of the city skyline and parkland, the top floor apartment has a practical layout including a wide private lobby leading to the main living room, a sleek kitchen featuring Pietra Verde marble and a concealed butler’s pantry Sub-Zero Wolf appliances, full-height Aspen elm joinery panels hiding storage throughout, flamed Saville stone flooring, a powder room, and two car spaces with a personal EV.
All three bedrooms have large wardrobes and ensuites with bathrooms fittings such as freestanding baths, artisan penny tiles, emerald marble surfaces and brushed-nickel accents.
Additional features of the entertainer’s home include leather-bound joinery doors opening to a full wet bar with Sub-Zero wine fridge and Sub-Zero Wolf barbecue.
The Surry Hills Village precinct will open in stages until autumn next year and once complete, Wunderlich Lane will be home to a collection of 25 restaurants and bars plus wellness and boutique retail. The EVE Hotel Sydney will open later in 2024, offering guests an immersive experience in the precinct’s art, culture, and culinary offerings.
The Surry Hills Village penthouse on Baptist is now finished and ready to move into with marketing through Toga Group and inquiries to 1800 554 556.
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.
