Lockdown Has Little Effect On Clearance Rate
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Lockdown Has Little Effect On Clearance Rate

The home auction market soldiered on despite digital auctions and mid-winter blues.

By Kanebridge News
Mon, Jul 12, 2021 10:53amGrey Clock < 1 min

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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Many luxury hotels only build on their gilded reputations with each passing decade. But others are less fortunate. Here are five long-gone grandes dames that fell from grace—and one that persists, but in a significantly diminished form.

The Proto-Marmont |

The Garden of Allah, Los Angeles

A magnet for celebrities, the Garden of Allah was once the scene-making equivalent of today’s Chateau Marmont. Frank Sinatra and Ava Gardner’s affair allegedly started there and Humphrey Bogart lived in one of its bungalows for a time.

Crimean expat Alla Nazimova leased a grand home in Hollywood after World War I, but soon turned it into a hotel, where she prioritised glamorous clientele. Others risked being ejected by guards and a fearsome dog dubbed the Hound of the Baskervilles. Demolished in the 1950s, the site’s now a parking lot.

The Failed Follow-Up |

Hotel Astor, New York City

The Astor family hoped to repeat their success when they opened this sequel to their megahit Waldorf Astoria hotel in 1904. It became an anchor of the nascent Theater District, buzzy (and naughty) enough to inspire Cole Porter to write in “High Society”: “Have you heard that Mimsie Starr…got pinched in the Astor Bar?”

That bar soon gained another reputation. “Gentlemen who preferred the company of other gentlemen would meet in a certain section of the bar,” said travel expert Henry Harteveldt of consulting firm Atmosphere Research. By the 1960s, the hotel had lost its lustre and was demolished; the 54-storey One Astor Plaza skyscraper was built in its place.

The Island Playground |

Santa Carolina Hotel, Bazaruto Archipelago, Mozambique

In the 1950s, colonial officers around Africa treated Mozambique as an off-duty playground. They flocked, in particular, to the Santa Carolina, a five-star hotel on a gorgeous archipelago off the country’s southern coast.

Run by a Portuguese businessman and his wife, the resort included an airstrip that ferried visitors in and out. Ask locals why the place was eventually reduced to rubble, and some whisper that the couple were cursed—and that’s why no one wanted to take over when the business collapsed in the ’70s. Today, seeing the abandoned, crumbled ruins and murals bleached by the sun, it’s hard to dismiss their superstitions entirely.

The Tourism Gimmick |

Bali Hai Raiatea, French Polynesia 

The overwater bungalow, a shorthand for barefoot luxury around the world, began in French Polynesia—but not with the locals. Instead, it was a marketing gimmick cooked up by a trio of rascally Americans. They moved to French Polynesia in the late 1950s, and soon tried to capitalise on the newly built international airport and a looming tourism boom.

That proved difficult because their five-room hotel on the island of Raiatea lacked a beach. They devised a fix: building rooms on pontoons above the water. They were an instant phenomenon, spreading around the islands and the world—per fan site OverwaterBungalows.net , there are now more than 9,000 worldwide, from the Maldives to Mexico. That first property, though, is no more.

The New England Holdout |

Poland Springs Resort, Poland, Maine

The Ricker family started out as innkeepers, running a stagecoach stop in Maine in the 1790s. When Hiram Ricker took over the operation, the family expanded into the business by which it would make its fortune: water. Thanks to savvy marketing, by the 1870s, doctors were prescribing Poland Spring mineral water and die-hards were making pilgrimages to the source.

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This stylish family home combines a classic palette and finishes with a flexible floorplan

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Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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