Decline Sydney And Melbourne Clearance Rates
Numbers take a tumble despite maintained market buoyancy.
Numbers take a tumble despite maintained market buoyancy.
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.
Home to Sir Robert Menzies and Dame Pattie, this grand Melbourne estate is a piece of Australian political history.
It may be a well-worn cliche, but if these walls could talk there would be plenty of state secrets to share. The landmark residence at 8-10 Howard St, Kew was once the private residence of Sir Robert Menzies and Dame Pattie between 1929 and 1949, during the Prime Minster’s first term in the top job. He later held the role again from 1949 to 1966, making him Australia’s longest serving Prime Minister.
Historical land records indicate that the Howard St property was sold to Leonard Clinton Shaw, brother-in-law of Pattie Menzies. Robert and Patti then moved to live into The Lodge in Canberra.
The stately arts and crafts era home was built in the 1910s and has reportedly played host to a long list of dignitaries and VIP guests. As rumour has it, the drawing room of the Kew property is where Menzies crafted his iconic speeches and held many clandestine meetings.
Today the imposing five-bedroom residence, which sits on a vast 1874sq m land parcel in the coveted Studley Park precinct, has come to market through Marshall White agents James Tostevin and Chris Barrett with a price guide of $8.3 million to $8.9 million.
According to CoreLogic, the property last sold in 2018 for $7.75 million.
Beyond the expansive parklike grounds that to pay homage to celebrated Australian landscaper Edna Walling, the two-storey house is packed with meticulously maintained period features.
Showcasing the best of arts and crafts design influences, the home has a charming tuck-point brick façade, a tessellated tile veranda, coloured leadlight glass windows, dark stained wood panelling inside, as well as high decorative ceilings and cornices.
The large foyer divides the lower level into two distinct zones; big formal rooms and more casual family-friendly spaces. Built for entertaining on a grand scale, both the lounge and dining rooms rooms have original fireplaces and open out to either the undercover veranda or enclosed sunroom.
Also on the ground level, a spacious family room with yet another fireplace connects to an everyday meals area, and the contemporary kitchen comes complete with granite surfaces, a Paul Bocuse stove, an integrated Miele dishwasher, a walk-in pantry and wine cellar. A home office, or potential guest bedroom, plus a large laundry and two powder rooms round out the lower level floor plan.
Up via a majestic timber staircase, four big bedrooms have fireplaces and built-in wardrobes, while the primary suite is home to a palatial ensuite and dressing room. This accommodation level also houses two family bathrooms and a rear balcony that overlooks the grounds.
Outdoors there are multiple lifestyle features including a north/south tennis court with lighting, a unique rounds swimming pool and all-weather terraces.
Other features include an alarm, hydronic heating, a 60,000L underground tank, a garden shed, a remote double garage and additional off-street parking.
Located on the old Oakland Estate, the Menzies’ former home is close to popular eateries, Xavier College, St Vincents Private Hospital and golf courses.
Expressions of interest close on March 11, at 5pm for 8-10 Howard St, Kew. The home is listed with a price guide of $8.3 million to $8.9 million through agents James Tostevin and Chris Barrett of Marshall White.
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.