LOWER AUCTION CLEARANCE RATES PERSIST ACROSS AUSTRALIAN CAPITALS
Clearance rates refuse to budge in the capital cities as buyers keep a close watch on interest rate increases
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It’s still not great news for anyone looking to sell residential property, with weekend clearance rates hovering around 60 percent in the major capital cities, CoreLogic reports.
In Sydney, 786 homes were put to market over the weekend, with a clearance rate of 60.9 percent, down -8.8 percent on results from the previous week. This time last year, Sydney clearance rates were a healthier 70.1 percent. The Inner West provided the strongest results in the Sydney market, with a clearance rate of 75.9 percent, based on 66 auctions.
CoreLogic put the lower numbers down to higher numbers of withdrawn auctions, which was just above 20 percent.
In Melbourne, where 920 homes went to auction, results were similar, with preliminary results indicating a 60.1 percent clearance rate. This compares with a revised 58.4 percent of properties successfully sold the previous week.
In the smaller capitals, Adelaide once again achieved the strongest results, with a preliminary clearance rate of 68.6 percent based on 149 properties. In Brisbane, where 171 homes went to auction – up 31.5 percent, 41.8 percent of properties cleared, based on preliminary figures. It was a better story in Canberra, where 59.7 percent cleared, while in Perth, only three of the 12 properties put to auction were successful and only one of the three homes put to auction in Tasmania was successful.
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The personal wardrobe of the late fashion designer Vivienne Westwood, who is credited for introducing punk to fashion and further developing the style, is headed to auction in June.
Christie’s will hold the live sale in London on June 25, while some of the pieces will be available in an online auction from June 14-28, according to a news release from the auction house on Monday.
Andreas Kronthaler, Westwood’s husband and the creative director for her eponymous fashion company, selected the clothing, jewellery, and accessories for the sale, and the auction will benefit charitable organisations The Vivienne Foundation, Amnesty International, and Médecins Sans Frontières.
The more than 200 lots span four decades of Westwood’s fashion, dating to Autumn/Winter 1983-84, which was one of Westwood’s earliest collections. Titled “Witches,” the collection was inspired by witchcraft as well as Keith Haring’s “graphic code of magic symbols,” and the earliest piece being offered from it is a two-piece ensemble made of navy blue serge, according to the release.
“Vivienne Westwood’s sense of activism, art and style is embedded in each and every piece that she created,” said Adrian Hume-Sayer, the head of sale and director of Private & Iconic Collections at Christie’s.
A corset gown of taupe silk taffeta from “Dressed to Scale,” Autumn/Winter 1998-99, will also be included in the sale. The collection “referenced the fashions that were documented by the 18th century satirist James Gillray and were intended to attract as well as provoke thought and debate,” according to Christie’s.
Additionally, a dress with a blue and white striped blouse and a printed propaganda modesty panel and apron is a part of the wardrobe collection. The dress was a part of “Propaganda,” Autumn/Winter 2005-06, Westwood’s “most overtly political show” at the time. It referenced both her punk era and Aldous Huxley’s essay “Propaganda in a Democratic Society,” according to Christie’s.
The wardrobe collection will be publicly exhibited at Christie’s London from June 14-24.
“The pre-sale exhibition and auctions at Christie’s will celebrate her extraordinary vision with a selection of looks that mark significant moments not only in her career, but also in her personal life,” Hume-Sayer said. “This will be a unique opportunity for audiences to encounter both the public and the private world of the great Dame Vivienne Westwood and to raise funds for the causes in which she so ardently believed.”
Westwood died in December 2022 in London at the age of 81.
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