Weekend National Clearance Rate Sees Divergent Results
Strong performances in Sydney, Melbourne and Adelaide were dampened by the other states.
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Auction markets at the weekend presented split results, with most recording the highest clearance rates for recent months while other capitals fell dramatically.
As a whole, the national clearance rate at the weekend was 58.3% — lower than the 60.9% reported last weekend and well below the 78.2% recorded over the same weekend last year.
National auction numbers were higher at the weekend with 1335 listings compared to last weekend’s 1202 — but again significantly lower than the same weekend last year’s 1872 auctions.
Clearance rate declines in Brisbane (40.6%) and Canberra (33.8%) affected the national clearance rate, while the major capitals of Sydney and Melbourne performed above expectation.
The Sydney market rose sharply at the weekend, recording its highest clearance rate since May of 65.7%, which was well above the 57.8% recorded over the previous weekend=, yet lower than the 83.0% recorded over the same weekend last year.
Auction numbers were also up, with the NSW capital recording 553 listings compared to 421 and now higher than the 472 auctioned over the same weekend last year — impacted then by Covid-19 shutdowns.
Sydney recorded a median price of $1,715,000 for houses sold at auction at the weekend which was sharply higher than the $1,470,000 recorded last weekend and 5.5% higher than the same weekend last year’s $1,626,250.
Melbourne’s weekend auction market continued to rise following last weekend’s bounce in buyer activity.
The Victorian capital reported a clearance rate of 65.7% on Saturday – was again clearly above the previous weekend’s 62.1% and now similar to the 66.0% recorded over the same weekend last year.
A total of 558 homes were listed at the weekend which was similar to the 550 reported the over the previous weekend but well below the 1138 of last year.
Melbourne recorded a median price of $990,000 for houses sold at auction at the weekend which was well ahead of the $968,500 reported last weekend but 8.8% lower than the $1,085,000 recorded over the same weekend last year.
Data powered by Dr Andrew Wilson; myhousingmarket.com
As tariffs bite, Sydney’s MAISON de SABRÉ is pushing deeper into the US, holding firm on pricing and proving that resilience in luxury means more than survival.
Early indications from several big regional real-estate boards suggest March was overall another down month.
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.
Early indications from several big regional real-estate boards suggest March was overall another down month.
Arta, a wealth-management startup, is using mobile apps and AI tools to reach young millionaires.
