Record February Ends With Market Cool Off
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Record February Ends With Market Cool Off

Late summer listings ease clearance rates.

By Terry Christodoulou
Mon, Feb 28, 2022 9:24amGrey Clock 2 min

The high volumes of homes that went to auction through February has finally eased clearance rates.

Despite a largely positive weekend across the nation’s capitals, the clearance rate has finally succumbed to the volume of listings that has inundated the market this past weekend and throughout February.

The national auction market reported a significant increase over the weekend, with a total of 2627 listings reported compared to the previous weekend’s 2341 and ahead of the 2163 reported for the same weekend last year.

The high volumes led to a national clearance rate of 77.9%, the lowest for the month. This is compared to last weekend’s 81.5% and well below the 83.3% recorded over the same weekend last year.

Capital city markets face a challenge with the first ‘Super Saturday’ of the year next weekend likely to put downward pressure on clearance rates.

Sydney saw another strong clearance rate despite yet another record February day for auction listings with 965 properties listed — up on the previous weekend’s 878 and higher than the 734 reported over the same weekend last year.

The NSW capital recorded a clearance rate of 78.8% at the weekend — higher than the 78.1% reported over the previous weekend but well below the 90.0% recorded over the same weekend last year.

Sydney recorded a median price of $1,755,000 for houses sold at auction at the weekend which was higher than the $1,750,000 reported over the previous weekend and 6.7% higher than the $1,645,000 recorded over the same weekend last year.

In Melbourne, the weekend auction market reported a significant day of auctions with 1288 homes listed — higher than the previous weekend’s 1129 and above the 1211 reported for the same weekend last year.

The Victorian capital posted a clearance rate of 71.4% on Saturday, a 4-weekend low and well below the 82.0% recorded over the same weekend last year.

Melbourne recorded a median price of $1,187,000 for houses sold at auction at the weekend which was higher than last weekend’s $1,165,000 and 18.4% higher than the $1,005,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.



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Jennifer Lopez and Ben Affleck have officially put their massive Los Angeles mansion on the market for $68 million.

The lavish Beverly Hills property hit listing sites on Thursday, months after rumours began that the couple, who are reportedly estranged , were shopping the home around only a year after buying it for nearly $61 million.

The roughly 5-acre property—which is in a gated community and spans a massive 38,000 square feet—includes an indoor sports court with an adjacent gym and games room, according to the listing with Santiago Arana of the Agency. The firm declined to comment.

Lopez and Affleck paid $60.8 million for the compound in 2023.
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Built in 2000, the house has 12 bedrooms and a whopping 24 bathrooms. The resort-sized property has the amenities to match, including a V-shaped pool with views over the surrounding hills, a detached two-bedroom guardhouse and a 5,000-square-foot guest penthouse, according to the listing.

Listing images of the house show that Lopez and Affleck have spent the past year warming up what were fairly white-washed interiors when they purchased the home. There’s now a rich, green-painted dining room, hardwood floors and carpeted over cold, polished-stone flooring.

The couple, who got married in 2022 after reuniting some 20 years after they called off their engagement in the early 2000s, purchased the megamansion following a house hunt that went on for several months, The Wall Street Journal reported at the time.

Representatives for Lopez, 54, and Affleck, 51, did not immediately respond to requests for comment.

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