National Auction Markets Easing
While results remain strong, clearance rates are trending lower.
2 min
With a surge of sellers keen to take advantage of strong buyer competition, the home auction markets reported lower clearance rates and clear signs that the white-hot market is beginning to cool.
A total of 2401 homes were reported as listed for auction on Saturday, May 15, which, although lower than last weekend’s May record 2563 listings, provided plenty of choices for buyers.
The national average weekend clearance rate was down on Saturday, falling from 83.1% to 80.9% – the lowest result since the 77.7% recorded on January 30.
This is the fourth consecutive weekend that clearance rates have fallen and is well below the peak national average of 88.5%, recorded on March 5.
Sydney hosted another incredibly busy weekend of auctions, with 9990 Sydney auctions reported on Saturday – just below the previous weekend’s May record 1014.
With a larger volume of auctions, the Sydney clearance rate fell to 82.9%, down on the previous weekend’s 83.5%, and the fourth consecutive weekend of falling rates.
Sydney recorded a median price of $1,641,000 for houses sold at auction at the weekend, just below the $1,650,000 reported over the previous Saturday, but 16.4% higher than the $1,410,000 recorded over the same weekend last year.
Melbourne again saw a surge in auction volumes, which pushed the clearance rate down to a year low reporting a clearance rate of 78.6%, well below the 80.7% recorded the previous weekend.
A total of 1149 homes were reported listed for auction in Melbourne on Saturday, just below the 1248 May record auction the previous weekend and well ahead of the 82 auctioned over the same weekend last year.
Melbourne reached a median price of $1,093,000 for houses sold at auction on the weekend, which was 4.1% higher than the $1,050,000 recorded over the previous weekend and up 8.9% on the 1,002,944 recorded over the same weekend last year.
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3 min
There’s no shortage of design inspiration online but nothing beats the joy of spending an afternoon immersing yourself in a good interior design book. Edited, carefully curated and, above all, designed, these titles take you behind the scenes of some of the world’s most beautiful interiors in a considered way. Think of it like the difference between listening to a few tunes on Spotify versus releasing a thoughtfully crafted studio album. We’ve assembled our top six of interior design books on the market right now for your viewing and reading pleasure.
1. Interiors beyond the primary palette
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2 House of Joy
If there was ever a book title for our times, then this is it. With a subtitle of Playful Homes and Cheerful Living, this book champions fun in interior design, with bold and bright homes from around the world to delight and inspire. While there’s a good dose of the unexpected, like a disco ball in the garden, there’s no mayhem in these spaces. Instead, they’re beautifully executed to tempt even the most colour shy. Gestalten, $105
3. Abigail Ahern Masterclass
Some design books are beautiful to look at, and that’s it. This is not one of those books. A master of colour and pattern, UK designer Ahern offers a practical foundational guide to beautiful interiors, mixing form with function in her latest book, Masterclass. Find the inspiration you need to create a gorgeous home. HarperCollins, $65
4. Interiors Now!
Looking for a visual crash course in international design trends with longevity? This is the book for you. Featuring homes across the globe, from New York to Auckland via Avignon, the biggest dilemma for readers is settling on a style. Many of the projects are owned by designers and creatives, lending a dynamic edge to this tome, now in its 40th year. Taschen, $50
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For many Australians, the ocean holds an almost hypnotic appeal. Home by the Sea by Natalie Walton lets you imagine, for a little while at least, what it’s like living the dream in a beach shack in Byron Bay. The book tours 18 homes in and around the region and the hinterland owned by artists, designers and makers. With photography by Amelia Fullarton, it champions the good life. Hardie Grant, $60
6. The Layered Interior
Released last year, this is the third volume from award-winning interior designer Greg Natale. Different in format from his earlier books, the eight projects featured are Australian but with a slight Euro-centric focus. The writing is conversational, almost intimate, inviting the reader into the most luxurious spaces beautifully captured by photographer Anson Smart. This coffee table tome is perfect for dreamers and doers alike. Rizzoli, $110
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