National Clearance Rates Lift Despite Melbourne Lockdown
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National Clearance Rates Lift Despite Melbourne Lockdown

The record-breaking May home auction market concluded strongly.

By Kanebridge News
Mon, May 31, 2021 10:18amGrey Clock < 1 min

The past five weekends have seen unprecedented auction numbers flood the market.

With the influx of listings seeing major capitals Sydney and Melbourne trending downwards, national listing numbers rebounded on Saturday, May 29, with the national average on Saturday increasing to 82.2% – marginally higher than the previous Saturday’s 82.0%.

This comes as 2505 auction reported – higher than the previous weekend’s 2333 and just below the May monthly record of 2563 set on May 8.

Of note, lockdown measures in Melbourne hardly impacted the market with the city reporting a clearance rate of 76.5%, just below the 76.9% recorded the previous weekend. Despite being the lowest result for the year so far, the figures remain impressive when considering the restrictions imposed.

Reporting 1272 auctions on Saturday, well ahead of the 1117 conducted the previous weekend, Melbourne’s median price for houses sold at auction on the weekend was $987,500 – just below the $995,500 recorded over the previous weekend.

Sydney was at the heart of the strong national figures with a clearance rate of 82.2% clearance rate – higher than the 81.5% recorded the previous weekend and the first lift in rates in five consecutive weekends.

A total of 981 Sydney auctions were reported on Saturday, higher than the previous weekend’s 949. This brings Harbour City’s total to a record-breaking 4868 weekend auctions over May, with each Saturday registering over 900 listings.

Sydney recorded a median price of $1,605,000 for houses sold at auction at the weekend, just below the $1,620,000 reported over the previous Saturday but 27.9% higher than the $1,255,000 recorded over the same weekend last year.

Data powered by Dr. Andrew Wilson of My Housing Market.

 



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A waterfront home in the Hamptons village of Sagaponack, New York, is on the market for the very first time.

Asking $25.95 million, the gray shingle-style home was built in 2008 by the seller and has since been available as a summer rental, but it’s never been up for sale.

Designed by architect Faruk Yorgancioglu, the “waterfront home offers privacy and panoramic beauty that cannot be duplicated under today’s zoning laws,” said co-listing agent Marilyn Clark of Sotheby’s International Realty – Bridgehampton Brokerage.

Jaime Lopez for Sotheby’s International Realty

The seller bought the property, which at the time had two small structures, at auction in 2005 for approximately $2 million, according to co-listing agent Deborah Pirro of Daniel Gale Sotheby’s International Realty. Mansion Global could not contact the seller.

The home hit the market Thursday, and in addition to Clark and Pirro, it is co-listed by Raquel Lopez of Sotheby’s International Realty – Bridgehampton Brokerage and Diane Anderson of Daniel Gale Sotheby’s International Realty.

Spanning 6,000 square feet, the home is filled with bright interiors, which were designed by New York-based interior designer Steven Gambrel. The open gourmet kitchen flows into a casual dining area and a living space with a fireplace, which is one of two double-sided fireplaces in the home, Pirro said.

A sunroom overlooks the water.
Jaime Lopez for Sotheby’s International Realty

“The placement and scale of fireplaces throughout the home is perfection,” she added.

A separate dining room has French doors that open onto a deck, listing photos show.

There are six en-suite bedrooms, including two primary bedrooms. The larger of the two is its own private retreat, outfitted with a fireplace, a sunroom and a large balcony, offering a space to watch the sun set over Sagaponack Pond, according to Sotheby’s.

Jaime Lopez for Sotheby’s International Realty

The home sits on a little more than an acre of waterfront land, bordering Sagaponack Pond, where there’s a private dock, and looking out at the Atlantic Ocean in the distance.

“The location on the pond with the view of the ocean waves breaking is spectacular and unique,” Clark said. “You are close to beaches and the Sagaponack General Store. It is a quick paddle to the famous Sagg Main Beach.”

Other outside amenities include a gunite swimming pool and a hot tub, which are surrounded by a spacious deck, as well as a pool cabana, which has a full bathroom, changing rooms and a sauna. There’s also multiple balconies, decks and a screened porch overlooking the pool, striking a balance between indoor and outdoor living.

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

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