Sydney And Melbourne Auction Results Slide
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Sydney And Melbourne Auction Results Slide

However the national auction clearance rate held firm.

By Kanebridge News
Mon, Nov 8, 2021 10:23amGrey Clock 2 min

A further rise in listings impacted the auction market at the weekend with results becoming mixed across the country’s capital city markets.

The usual end of year rush to market has been exacerbated by the release of covid restrictions with many sellers compensating for the lost opportunities of recent months.

National auction numbers were reported at 2463 – up from the previous Saturday’s 2424 and well ahead of the 1439 auctioned over the same weekend last year.

While the major markets of Sydney and Melbourne were down, registering clearance rates of 76.1% and 76.5% respectfully, the national clearance rate rose yet again at 83.8% — higher than the previous weekend’s 81.9%.

Brisbane is now the nation’s leading home auction capital with 153 auctions across the weekend and a clearance rate of 89.5% — nearly 15% up on the previous weekend.

Sydney’s clearance rate suffered from the influx of listings with 994 homes auctioned – the highest November Saturday total for 6-years and well above the previous weekend’s 887.

The surge saw the clearance rate fall nearly 5% from the previous weekend – remarkably below the 78.5% recorded over the same weekend last year.

Sydney recorded a median price of $1,777,500 for houses sold at auction at the weekend which was well below the $1,900,000 reported over the previous Saturday but 17.7% higher than the $1,510,000 recorded over the same weekend last year.

The Melbourne market fared similarly with the clearance rate down 4% from the previous weekend – its lowest clearance rate for six weekends.

In total 1095 homes were listed for auction at the weekend – lower than the 1193 the previous weekend but still up above the 480 auctioned over the same weekend last year.

Melbourne recorded a median price of $1,065,000 for houses sold at auction at the weekend which was lower than the $1,145,000 recorded over the previous weekend but 11.5% higher than the $955,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.



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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.

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