Mid-Winter Auctions Slow And Steady
The fragile buyer and seller confidence continues to grip the market.
The fragile buyer and seller confidence continues to grip the market.
The typically chilly winter home auction market produced steady results across the country at the weekend with a reported clearance rate of 60.8% at the weekend which was lower than the 63.2% of last weekend and significantly lower than the 80.5% of the same weekend last year.
Saturday’s result was the lowest national weekend clearance rate since lockdown-impacted results of August 2020.
National auction numbers were higher at the weekend with 1442 listings compared to last weekend’s 1355 — but well below the same weekend last year’s 2179.
The Sydney auction market reported steady auction clearance rates at the weekend, with results still at the lowest level since April 2020.
The NSW capital recorded a clearance rate of 58.0% at the weekend — similar to the 58.7% recorded the previous weekend and well below the 78.0% recorded over the same weekend last year.
Auction numbers were higher at the weekend with 597 reported compared to the previous weekend’s 562 but again well down on the 872 auctioned over the same weekend last year.
Sydney recorded a median price of $1,515,000 for houses sold at auction at the weekend which was lower than the $1,651,000 recorded last weekend and 5.5% lower than the same weekend last year’s $1,603,000
Melbourne’s clearance rates too held steady, albeit low, with a clearance rate of 60.4% on Saturday which was similar to the previous weekend’s 60.4% on Saturday which was similar to the previous weekend’s 60.0% — lower than the 73.2% recorded over the same weekend last year.
The Victorian capital recorded 598 homes listed at the weekend — higher than the 552 reported over the previous weekend but well below the 1061 listed over the same weekend last year.
Melbourne recorded a median price of $923,000 for houses sold at auction at the weekend which was lower than the $1,025,000 reported last weekend —7.0% lower than the $992,500 recorded over the same weekend last year.
Data Powered by Dr Andrew Wilson; My Housing Market
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For every hotel spotlighting its historical bona fides, there are many that didn’t stand the test of time. Here, some of the most infamous.
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.
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 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.
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 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 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.
The Rickers opened the Poland Spring House in 1876, and eventually expanded it to include one of the earliest resort-based golf courses in the country, a barber shop, dance studio and music hall. By the turn of the century, it was among the most glamorous resort complexes in New England.
Mismanagement eventually forced its sale in 1962, and both the water operation and hospitality holdings went through several owners and operators. While the water venture retains its prominence, the hotel has weathered less well, becoming a pleasant—but far from luxurious—mid-market resort. Former NYU hospitality professor Bjorn Hanson says attempts at upgrading over the decades have been futile. “I was a consultant to a developer in the 1970s to return the resort to its ‘former glory,’ but it never happened.”
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.