Lockdown Has Little Effect On Clearance Rate
The home auction market soldiered on despite digital auctions and mid-winter blues.
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Despite lockdowns in Sydney, the national auction market has seemingly skipped past the usual mid-winter slowdown with 2009 homes reported auction on Saturday, July 10.
This result was higher than last weekend’s 1869 listings and more than double the same weekend last year.
The higher auction numbers failed to slowdown buyer activity with the national market reporting a strong clearance rate of 79.5% – just below the previous weekend’s 79.8%.
Sydney’s auction market is holding on despite the lockdown. Although reporting a year-to-date clearance rate low on Saturday of 76.6%, the figure was just below the 76.9% reported last weekend and well ahead of the 64.6% recorded on the same weekend last year.
782 auctions were reported listed in Sydney on Saturday which was just below the previous weekend’s July record 792 auctions and well above the 452 recorded over the same weekend last year.
Sydney recorded a median price of $1,631,000 for houses sold at auction at the weekend – well ahead of the $1,500,000 reported over the previous Saturday.
Melbourne’s auction ate was steady at the weekend, with a surge of mid-winter listings.
The Victorian capital Melbourne recorded a clearance rate of 76.7% which was just below the previous weekend’s 76.9% but well ahead of the shutdown impacted the 44.9% of the same weekend last year.
A July record of 977 homes were listed to go under the hammer on Saturday – well ahead of last weekend’s previous record 853 auctions.
Melbourne recorded a median price of $983,000 for houses sold at auction at the weekend which was lower than the $1,092,000 recorded over the previous weekend and 29.3% higher than the $760,000 recorded over the same weekend last year.
Data powered by Dr Andrew Wilson of My Housing Market.
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Early indications from several big regional real-estate boards suggest March was overall another down month.
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.
A television producer sold the property to two separate buyers; one paid $57 million for the main house, and the other bought a smaller parcel for $29 million.
An architect’s own home, this Tamarama beach house has been created with love.
