Weekend Auction Markets Low But Largely Steady
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Weekend Auction Markets Low But Largely Steady

While the home auction clearance rate is trending lower, the market is showing signs of stabilisation.

By Kanebridge News
Mon, Jul 25, 2022 9:15amGrey Clock 2 min

Weekend auction markets continue to report similar results, with buyer and seller activity moderated compared to previous months.

The national auction market reported a clearance rate of 60.1% at the weekend — slightly down on the previous weekend’s 60.8% and significantly lower than the 77.3% recorded over the same weekend last year.

Saturday’s results were once again the lowest clearance rate since lockdown-impacted August 2020.

National auction numbers were higher at the weekend with 1487 listings compared to last weekend’s 1442.

While the Sydney market continues to trend lower, it is stabilising albeit at the lowest levels since lockdowns in April 2020.

 The NSW capital recorded a clearance rate of 57.9% at the weekend — similar to the 58.0% recorded the previous weekend but well below the 75.1% of the same weekend last year.

The number of residences auctions was lower at the weekend with 575 reported compared to the previous weekend’s 597 and higher than the 566 of the same weekend last year.

Sydney recorded a median price of $1,505,500 for houses sold at auction at the weekend which was slightly lower than the $1,515,000 recorded last weekend and 1.8% lower than the same weekend last year’s $1,532,500.

Melbourne’s weekend auction market continues to produce steady results with the impact of higher interest rates having an effect on buyer confidence.

Melbourne reported a clearance rate of 607% on Saturday – lower than the previous weekend’s 60.4% and lower than the 79% recorded on the same weekend last year.

A total of 627 homes were reported listed in the Victorian capital at the weekend — higher than the 598 reported over the previous weekend but again well below the 1120 of the same weekend last year.

Melbourne recorded a median price of $1,000,000 for houses sold at auction at the weekend which was higher than the $923,000 reported last weekend and 6.6% higher than the $938,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market. 



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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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Property of the week – 711 Federal Drive, Federal

Whimsy Farm is a playful period estate positioned in Byron Bay’s picturesque hinterland.

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Tucked away in Byron Bay’s coveted hinterland, Whimsy Farm is a traditional rural homestead surrounded by more than 16ha of lush fertile grounds with equestrian facilities and a host of whimsical additions including a fairytale-inspired maze.

Just listed with Sotheby’s International Realty Byron Bay, agents Denzil Lloyd and Will Phillips are running an expressions of interest campaign on the glamorous getaway with a price guide of $5.25 million to $5.75 million.

The romantic estate in Federal, 25 kms from Byron Bay dates back more than a century, but has been meticulously renovated by its current owners to attain modern day dream home status.

Back in 2016, the enviable property even featured on Foxtel’s short-lived reality TV show I Own Australia’s Best Home. The picturesque parcel has also been appreciated by location scouts and has appeared in a long list of fashion brand and magazine shoots such as Country Style and Queensland Homes.

Owner Melinda Boundy, founder of boutique interiors firm Melinda Boundy Design, was instrumental in reviving the historic Federal homestead. She has described the rural property as a  “a respite from the world” where she and her husband have raised their two sons over the past decade.

“I brought my boys down 10 years ago to nurture their creativity, their boyhood,” Boundy said in a recent Instagram post announcing the impending sale.

“We found our farm with its double-storey treehouse and 40 acres the perfect place for two young boys to thrive.”

In addition to hiring out the estate for formal events, Boundy said the family had celebrated several milestones at the address.

“Many parties, sleepovers, friends staying and events have been held [here]. It has seen the filming of a TV show or two, music videos, location shoots and weddings,” she added.

“Now it’s time to pass the baton to another family to share the magic and wonderment of this beautiful compound.”

Lloyd agreed that the listing is a magical estate, ripe for the picking.

“It’s a wonderland. There’s the maze, but it’s also got the treehouse, teepee, dams, beautiful established veggie gardens and it’s perfect for those who love horse riding,” Mr Lloyd said.

“It really is an oasis with plenty of classical charm as well. It’s not an ostentatious home; it’s an original Queenslander from 1910.”

Living up to its storybook name, Whimsy Farm is home to a preserved traditional Queenslander residence with five bedrooms, plus a freestanding guest cottage. There is also a separate pool house and a combined shed or office on site, all capturing scenic hinterland views.

The main single-storey residence has a choice of entertaining spaces inside and out as well as bedrooms opening to private alfresco areas. A grand kitchen and the large living room both open to a vast terrace and pool area.

In the primary bedrooms suite there is a bay window overlooking the natural surrounds, an ensuite with double vanities, and out on the covered deck an outdoor bathtub is an idyllic spot for soaking under the stars.

The playful property has also operated as a holiday rental and offers up unique bonus features including a solar-heated semi circle pool, a double-storey treehouse, a teepee, horse stables, paddocks and a an Olympic-sized dressage arena.

A true tree change destination, the Federal address is home to 10 acres of regenerated forest, eight water tanks, two lagoons, extensive raised veggie gardens and a citrus orchard.

It is conveniently located a scenic 30-minute drive to Byron Bay and 20 minutes to Bangalow.

 

Whimsy Farm at 711 Federal Dr, Federal is listed through Sotheby’s International Realty Byron Bay through an expressions of interest campaign closing February 20, 5pm.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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