Strong Markets Hold The Line
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Strong Markets Hold The Line

Sellers return to the housing auction market in significant numbers.

By Kanebridge News
Mon, Oct 25, 2021 10:04amGrey Clock 2 min

The national auction market continued to record strong results at the weekend despite the usual increase in mid-spring listings which, this year, has been amplified by the end of lockdowns in major capital cities.

The national clearance rate was higher at the weekend – up to 84.7% from 83.9% and well above the 77.3% reported over the same weekend last year.

National auction numbers were higher again at the weekend, rising from the previous Saturday’s 1970 to 2048 – ahead of the 1083 auctioned over the same weekend last year.

Although the market continues to record boomtime results, Sydney’s weekend auction market was sharply lower at the weekend recording a clearance rate of 77.0% — below the previous weekend’s 83.6% and lower than the 78.8% recorded over the same weekend last year.

It marks the first time the NSW capital’s clearance has fallen below 80% for the first time in 12 weeks.

Higher auction numbers have impacted clearance rates with 721 homes listed for auction at the weekend – up from 677 the previous weekend and 637 for the same weekend in 2020.

Sydney recorded a median price of $1,685,000 for houses sold at auction at the weekend – marginally higher than the $1,675,000 reported over the previous Saturday and 22.5% higher than the $1,375,000 recorded over the same weekend last year.

With the city coming out of lockdown, Melbourne’s fortunes shifted with the city recording a clearance rate of 80.4% on Saturday – higher than the previous weekend’s 77% and the first time its result has eclipsed Sydney’s since early July.

A total of 994 homes were listed for auction at the weekend – similar to the 993 reported over the previous weekend and well above the 304 for the corresponding weekend in 2020.

Melbourne recorded a median price of $1,048,000 for houses sold at auction at the weekend which was higher than the $969,500 recorded over the previous weekend and 13.5% higher than the $923,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson of My Housing Market.



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The actress and her husband, comedy writer Dave McCary, spent more than three years restoring the house, which is one of the priciest properties for sale in the Texas city.

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In 2021, actress Emma Stone purchased a historic estate in Austin, Texas, with a plan to move her family there. Four years later, she has instead decided to put the property on the market.

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Stone and McCary have spent more than three years renovating and restoring the Texas property, Moreland said.

A spokesperson for Stone didn’t respond to requests for comment. Moreland said the couple’s New York business interests have expanded since they started the remodel, and while they hope to live in Austin eventually, it doesn’t make sense for now.

The couple, who are co-founders of the production company Fruit Tree, own a roughly $12 million apartment in lower Manhattan, according to property records. Stone is slated to star in the upcoming contemporary Western film “Eddington.”

It’s unclear what Stone and McCary paid for the Austin property, since Texas is a nondisclosure state . The Georgian-style brick house dates to around 1940, making it one of the oldest estates in the area.

The roughly 10,000-square-foot estate includes a main house with four bedrooms and a two-bedroom guesthouse. The property also has a pool, a hot tub, and a garage with a screening room and entertaining space above.

As part of the renovation, the couple removed, cleaned and reused all the exterior brick. They also reconfigured some of the living spaces, opening the kitchen to the living room for a more modern layout. It took more than a year just to install the millwork in the screening room, said Moreland.

The contractors are now putting the finishing touches on the property, he said.

The “La La Land” actress has a track record of buying and selling her homes for significantly more than she paid. In 2022, she sold her blufftop Malibu, Calif., home for $4.425 million after buying it for $3.25 million in 2018, according to property records.

Last year, she sold her home in L.A.’s Comstock Hills neighbourhood for $4.3 million, significantly more than the $2.3 million she paid in 2019.

Austin saw an influx of new residents during COVID, but many of those are now returning to the East and West coasts, particularly workers in the tech sector.

While the market “has come down to earth a little bit” since the pandemic-era boom, Moreland said, he has seen a number of $20 million-plus deals over the past few months.

Moreland has the listing with colleague Diane Humphreys.

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