The sun comes out on weekend auction results in Sydney
The weather was not the only thing warming up in Australia’s largest capital
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Auction clearance rates took a surprising turn in Sydney over the weekend, bouncing back to their highest levels since mid April, CoreLogic reports.
Australia’s largest capital recorded a 69.7 percent clearance rate last weekend which, while representing the best result so far this season, was still down on last year’s clearance rate of 74.1 percent.
Just 701 Sydney homes went under the hammer over the weekend, compared with 1,239 this time last year.
Overall, auction activity was down -2 percent across the capitals, with 1,883 homes presented to the market. Melbourne was the busiest city, with 764 homes put to auction and a clearance rate of 61.9 percent, compared with 67.7 percent last year. In Adelaide, 156 homes were put to market, with 66.3 percent selling. In brisbane, 131 houses went to auction, with a disappointing clearance rate of just 43 percent.
While results are down by 10 percent on this time last year, they represent a 3.8 percent rise on last week.
Early indications from several big regional real-estate boards suggest March was overall another down month.
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The nearly 10,000-square-foot home stands right at the entrance to the Amazon billionaire’s grand, $165 million estate.
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A home that’s right at the entrance to Jeff Bezos’s Beverly HIlls estate, which the billionaire purchased for $165 million in 2020, is now on the market asking $19.8 million.
Shaded by mature olive trees, the three-story modern mansion on Angelo Drive spans nearly 10,000 square feet, and includes five bedrooms, a bar and lounge, a home cinema, a pool with floating benches, and a 15-car garage.
The modern home centers around a striking wood staircase that extends through all three floors, creating an eye-shaped spiral.
Other design choices include a full-height black marble fireplace, herringbone wood flooring, grayscale marble backsplashes in the kitchen and bathroom, banks of floor-to-ceiling windows and a seating area in the middle of the pool.
There is also an outdoor kitchen and eating area poolside, and a living space with sliding doors that open directly onto the pool deck, for indoor/outdoor living.
The home was built in 2021 and designed by Gabbay Architects for the owner, who purchased the underlying property for $4.1 million in 2015, according to property records accessed through PropertyShark.
The seller, who runs a Beverly Hills-based plastic surgery practice, could not immediately be reached for comment.
The Benedict Canyon house came to market Friday with Tomer Fridman of Christie’s International Real Estate. He could not immediately be reached for comment.
The Bezos estate is also known as the Warner Estate, named after its first owner, Hollywood mogul Jack Warner of the Warner Bros.
After Warner, the 9-acre estate was owned by music executive and film producer David Geffen, followed by Bezos. The property includes a palatial Gregorian Revival mansion built in 1939 and designed by architect Florence Yoch to befit the status of one of the most powerful men in Hollywood.
At $19.8 million, the new listing offers quite a deal compared to other properties neighbouring Bezos. In Florida, the owner of a vacant lot next door to the Amazon founder’s estate on Indian Creek Island is asking $150 million for it.
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The 25-room mansion was built for an heiress and later belonged to a socialite and architect on the Empire State Building.
