Decline Sydney And Melbourne Clearance Rates
Numbers take a tumble despite maintained market buoyancy.
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Auction clearance rates in the dominant markets of Sydney and Melbourne dipped at the weekend.
The number of listings also fell significantly in most capitals compared to the previous weekend, with the exception of Adelaide where listings surged to the highest number (111) of the year.
The Sydney home auction market produced another relatively strong result of 85.1% sell through. However, the clearance rate was down on the previous weekend (86.2%), and well below March’s record results.
Sydney auction numbers were also lower at the weekend – possibly impacted by the ANZAC Day holiday – with 672 homes listed compared to 785 the previous weekend. Saturday saw the lowest offering since early March, with the exception of Easter.
Sydney recorded a median price of $1,449,000 for houses sold at auction at the weekend, 7.1% lower than the $1,560,000 reported the previous weekend.
Elsewhere, Melbourne’s auction clearance rate fell for the third consecutive weekend to 79.0%, down on last weekend’s 79.7% and the lowest recorded for the year.
A mere 835 homes were reported listed for auction on Saturday in Melbourne, well below the 1062 auctioned the previous weekend, and the lowest non-holiday offering since February.
Melbourne recorded a median price of $975,000 for houses sold at auction on the weekend, 2.5% lower than the $999,900 recorded a week earlier.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
2 min
Prince Albert House is a stately Federation manor showcasing just how Mosman’s grand architectural past can be expertly coupled with a contemporary renovation.
Surrounded by some of Mosman’s greatest estates, the regal residence once known as Candida underwent a rebranding and a significant renovation several years ago before it last changed hands in 2016 for $10 million.
Today’s vendors, publican Matthew Fallon and his partner Tamara Martin, have engaged Michael Coombs and Tia Naris of Atlas Lower North Shore to market the property with the auction guide sitting at $15.75 million.
Only the fourth owner in the property’s 117-year history, Fallon is one of three brothers behind The Buena in Mosman. Matthew, Luke, and Tim Fallon bought the Middle Head Rd watering hole Buena Vista Hotel in 2015 for more than $13m before renaming it.
Sitting on 1254sq m of estate-like grounds on Prince Albert St, one of Mosman’s most sought-after streets, this stately house is a blend of old-world charm meets modern luxury, coupled with enviable views of the iconic Harbour Bridge and water.
The period property’s transformation was initiated by the previous owner, recruitment boss Jeromine Alpe, who enlisted Giles Tribe Architects for the bulk of the renovations. Fallon and Martin added their own personal touches later on.
“This is a really beautiful house with lots of space. So many Federation homes have pokey rooms and a difficult layout but this one has been really opened up to be a historic home with a very modern floor plan,” said Coombs.
Inside, Prince Albert House has a host of charming historic detail paying homage to its Federation roots including high ornate ceilings, intricate leadlight windows, and grand marble fireplaces. The 21st Century additions like the Calacatta marble kitchen with custom butler’s pantry and seamless connections to the great outdoors are also perfectly suited to today’s must-have Sydney lifestyle.
The large layout features formal living and dining rooms with bay windows, casual family zones and big bedrooms with built-ins. In the primary bedroom suite, separated from the rest of the house on the first floor, there is a walk-through wardrobe to a deluxe bath ensuite as well as two balconies, a sitting area and an adjoining home office. Two more bedrooms also feature ensuites.
Resort style amenities of the Mosman property include a swimming pool surrounded by manicured gardens, sandstone feature walls, a gym with a sauna and ensuite, plus a large wine cellar.
Close to a long list of lifestyle locations, the house is near family-friendly harbour beaches, Taronga Zoo, Mosman’s shopping precinct, coveted schools and city ferries.
Prince Albert House at 13 Prince Albert St, Mosman is currently listed with Michael Coombs of Atlas and is scheduled to go to auction on November 2.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
