National Auction Market Stutters
Kanebridge News
Share Button

National Auction Market Stutters

Fewer listings and market distractions keep results stagnant.

By Terry Christodoulou
Mon, Mar 14, 2022 11:18amGrey Clock 2 min

The national auction market reported a clearance rate of 73.8% at the weekend – similar to the previous weekend’s 73.8% but well below the 85.3% recorded over the same weekend last year.

National auction numbers were lower at the weekend — with wild weather and Labour Day holidays driving the dip in numbers. The market saw 1585 homes listed for auction nationally compared to the 2377 of the previous weekend and well below the 1903 reported for the same Saturday last year.

Despite the meek showing, auction markets are set to return at full pace next weekend as regions recover from flooding and are free from holiday distractions.

The Sydney auction market recorded a clearance rate of 69.8% at the weekend – well below the 76.6% of the previous weekend and a stark comparison to the 90.6% recorded over the same weekend last year.

The NSW capital recorded 884 listings — which is up on the previous weekend’s 841 and well ahead of the 716 auctioned over the same weekend last year.

Sydney recorded a median price of $1,605,500 for houses sold at auction at the weekend – lower than the $1,915,000 reported over the previous weekend and 3.6% higher than the $1,550,000 recorded over the same weekend last year.

Melbourne’s market posted a clearance rate of 70.3% on Saturday – lower than last weekend’s 73.8% and remained well below the 81.5% recorded over the same weekend last year – a non-holiday weekend.

The Victorian capital reported 423 homes listed for auction, which is well down on the previous weekend’s 120 and significantly lower to last year’s non-holiday 9878 auctioned over the same weekend last year.

Melbourne recorded a median price of $1,008,000 for houses sold at auction at the weekend — lower than last weekend’s 1,170,000 but 2.9% higher than the $980,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

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

35 North Street Windsor

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

Related Stories
Property
Property of the week: 205 Wahring Murchison East Rd, Wahring
By Kirsten Craze 06/12/2024
Property
Australian property buyers the winners in a spring market
By KANEBRIDGE NEWS 05/12/2024
Property
The ‘new frontier’ in Australian property is not where you think
By KANEBRIDGE NEWS 04/12/2024
Property of the week: 205 Wahring Murchison East Rd, Wahring

An architectural jewel of Victoria’s Goulburn Valley, the Noorilim Estate stands as one of Australia’s most extraordinary Italianate mansions.

By Kirsten Craze
Fri, Dec 6, 2024 2 min

Legend has it that opera icon Dame Nellie Melba performed in the minstrels’ gallery and current-day hitmaker Tones and I filmed a music video at Noorilim estate. The high profile property has even been the breeding ground for multiple Melbourne Cup winners including 1910 champion, Comedy King, who was laid to rest within the grounds.

In 1998, prominent art dealer and entrepreneur behind Menzies International, the late Rod Menzies and his wife Carolyn, bought Noorilim for $3.325 million and set about restoring the Italianate mansion to its former glory.

Today, the 65ha property in the heart of the Goulburn Valley is on the market for only the third time in the past 50 years via Sean Cussell of Christie’s International Real Estate with a price guide of $15m.

During the Menzies’ ownership, the glamorous country estate was a venue for weddings, concerts, and private events, welcoming a long list of international guests. Chart-topping artist Tones and I filmed the video for her song Bad Child at the estate, and the period property has played its part in numerous films and television series. Singer and actor Ted Hamilton, known for roles in Division 4, Homicide, The Love Boat, M*A*S*H and Hawaii Five-O, was also a regular performer at the address.

Given its stately grandeur, Noorilim was even a successful auction centre for fine art with works by Brett Whiteley, Sidney Nolan and Jeffrey Smart sold under the hammer at the property.

Built in 1879 by celebrated architect James Gall for parliamentarian William Winter-Irving, Noorilim is a prime example of post-Gold Rush prosperity in Victoria. At the time of its construction in the mid to late-1800s, Australia had been labelled one of the richest nations on earth and Melbourne’s monied elite were spilling out of the city looking to build country estates to rival those in Great Britain. The nouveau riche began commissioning lavish ornamental houses shadowing the Gothic, Italianate and Queen Anne designs of Europe.

Noorilim’s facade is a striking example of this “boom style” architecture featuring an asymmetrical tower, ornate balustrades and grand arched loggias that frame sweeping views of the estate’s manicured grounds.

Inside, the vast 1022sq m residence has 5m ceilings and lavish period features, including 15 fireplaces, seven staircases, and intricate Corinthian columns.

At the heart of the mansion its grand hall has Minton tiles imported from England and laid by Italian artisans who were shipped out specifically for the job. There is a turret lookout, a billiard room, 10 bedrooms, four bathrooms, an office and grand formal rooms such as a lounge, library and dining room all with expansive windows showcasing views of the gardens and vineyard.

Noorilim’s name is derived from the Indigenous Yorta Yorta language and means “place of many reeds” reflecting the estate’s connection to its natural surroundings. Complementing Gall’s vision, renowned landscape designer William Guilfoyle — who worked on Melbourne’s Royal Botanic Gardens — crafted Noorilim’s standout gardens.

The grounds are home to echidnas, kangaroos and koalas, more than 300 mature trees including ancient Moreton Bay figs, a rose garden with a central fountain, an ornamental lake, a boathouse, and even a private beach on the banks of Goulburn River. There is also an extensive wine cellar, numerous outbuildings and barns, as well as a heritage-listed water tower. The working vineyard produces Chardonnay, Shiraz, Cabernet, and Merlot grape varieties.

 

 

Noorilim, near Nagambie, is 150kms north east of Melbourne at 205 Wahring Murchison East Rd, Wahring. The property is listed with Sean Cussell from Christie’s International Real

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

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

35 North Street Windsor

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

Related Stories
Money
Trump Plans to Appoint Musk Confidant David Sacks as AI, Crypto Czar
By Preetika Rana 06/12/2024
Property
Property of the week: 205 Wahring Murchison East Rd, Wahring
By Kirsten Craze 06/12/2024
Lifestyle
Swarovski: The Christmas tradition to last a lifetime
By Robyn Willis 05/12/2024
0
    Your Cart
    Your cart is emptyReturn to Shop