Weekend auction results hold promise for spring vendors
Auction numbers, clearance rates on the up as spring market warms
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Last weekend continued to see improvement in both the number of houses up for auction and their clearance rates, CoreLogic reports.
After market disruptions caused by football grand finals and public holidays, the market once again found its feet, with 1,799 homes going under the hammer across the country over the weekend. This represents a 11.2 percent increase on the previous weekend and 36.7 percent higher than the weekend prior to that.
Melbourne led the way last weekend, with 721 homes going under the hammer, with a clearance rate of 68.4 percent, the highest since May. In Sydney, 686 homes were auctioned, up 41.7 percent on the Labour Day long weekend the previous week. Clearance rates also improved, with 61.3 percent of homes being sold, the highest rate since August. However, withdrawal rates in Sydney also increased from 17 percent to 21.1 percent, showing vendor uncertainty remains.
The smaller capitals all experienced greater auction activity, except for Perth. No auctions were held in Tasmania.
While the steady rise is encouraging, head of research at CoreLogic Tim Lawless points out numbers are not as strong as the same time last year.
“There has been a consistent improvement in the auction success rate since the last week of July when the combined capitals clearance rate was recorded at 51.9 percent (based on finalised numbers),” Mr Lawless said. “Melbourne came in at 66 percent, Sydney and 61 percent and Adelaide nearly broke the 70 percent mark this week based on the preliminary numbers.
“The volume of auctions is holding lower than last year – a reflection of less stock flowing onto the market, as well as more vendors choosing to use a private treaty campaign over auctions.”
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.
His stallion once won the Melbourne Cup, now this late legendary horse owner’s thoroughbred harbourside home is on the market.
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A perfectly-positioned harbourside residence, formerly the home of a late Melbourne Cup-winning horse owner, has come to market with $14 million price expectations for its February 22 auction.
Sitting in one of Sydney’s most coveted enclaves on Waiwera St in Lavender Bay, the duplex with never-to-be-built-out gunbarrell views of both the Sydney Harbour Bridge and Opera House was home to championship thoroughbred owner Michael Fergus Doyle. The Irish-born entrepreneur was part owner of Protectionist, the 2014 Melbourne Cup winner.
Bought by Doyle in April 2020, in an off-market deal totalling $11 million according to CoreLogic data, the two-storey Lavender Bay property is being sold by the racing legend’s family through Atlas Sydney & East Coast. Doyle, a prominent character in Sydney’s Irish community for more than 50 years after arriving down under in the 1960s with a 10 pound boat ticket, sadly passed away in November 2023 at the age of 77.
Doyle built his fortune by building a construction company from the ground up that eventually employed more than 300 people and had a contract with Sydney Water worth A$100 million a year. By 2009, Doyle sold the business to a company owned by the Singapore Government and breeding horses through Doyles Breeding & Racing became his next passion.
The contemporary four-bedroom three-bathroom property features 304sq m of internal living space with additional outdoor entertaining areas on both levels.
Beyond the impressive grand entrance foyer with a personalised floor medallion, the layout opens up to reveal a large everyday living level with a formal lounge room and casual sitting space featuring walls of windows to frame the Harbour City’s top icons. Thanks to a central skylight tower, this main living zone is also flooded with natural light.
A spacious chef-grade kitchen anchored by a long island bench is equipped with Gaggenau appliances, gas burners, dual ovens, and a grill plate. The adjoining dining area spills out onto a terrace with an integrated bar table plus a Luna Park and bridge backdrop. The entry level also houses a home office or guest bedroom with a Juliette balcony and integrated desks opposite a full bathroom.
In the main bedroom suite upstairs there is a deep full-width balcony with more landmark views, a vast walk-in wardrobe, plus a spa ensuite complete with twin vanities, heated floors and warming towel racks. Two more bedrooms on the upper level each have access via French doors to a shared street-facing terrace and built-ins with a common family-friendly bathroom.
Added extras include automatic awnings and privacy screens to the outdoor areas, marble floor tiles, and a double lock up garage with storage.
The designer duplex is located close to harbourside dining venues, foreshore parks such as Bob Gordon Reserve and Wendy Whiteley’s Secret Gardens, Kirribilli Markets and North Sydney’s bustling CBD.
Property 2 at 9-11 Waiwera St is on the market with Adrian Bridges and Daniel Chester of Atlas Sydney & East Coast with a price guide of $14 million. It is set to go under the hammer on February 22.
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.
