$15m for a Centennial Park sensation in Sydney
Sydney’s Centennial Park saw the nation’s top weekend auction sale at $15m, with three bidders competing for the keys to the 15-year-old home.
Sydney’s Centennial Park saw the nation’s top weekend auction sale at $15m. The Martin Rd auction price equalled the $15m price guidance given by Daniel Acocks and Davide Talone at The Agency Eastern Suburbs.
The auction had three bidders compete for the keys to the home, which was built 15 years ago to a design by Ken McBryde, one of Australia’s most sustainability-minded architects.
There was a $12m opening bid from Martin Yule at UBS, which Cooley auctioneer Jake Moore described as “opportunistic.” The next step was a $14.25m vendor bid.
The property was announced on the market when the bidding hit $15m.
The listing attracted over 8600 views on realestate.com.au during its marketing, which was pushed back a week, with no price revision.
The two-storey, four-bedroom house with rear lawn, gas-heated pool and lock-up garaging sits on an 878sq m block that last traded 21 years ago for $3.125m. Its 2001 auction saw the then rambling Federation home sell to Merrill Lynch operative Geoff Lee through McGrath agent James Dack, having been the longtime home of fashion designer Kerry McGee, who was heading to Flying Fish Point in Far North Queensland.
The weekend sale ranks as the parkside road’s priciest sale, edging out a 2021 price of $14m.
Sydney weekend auction activity was up 23 per cent to its highest volume since June.
With 591 results collected so far, Sydney recorded its lowest clearance rate in three weeks at around 57 per cent, along with the highest withdrawal rate in eight weeks at 25 per cent.
–
No sale at Toorak
Melbourne’s priciest auction offering failed to sell. The five bedroom 1940s Marcus Martin-designed Toorak home at 2 Glenbervie Rd, which had a $10m to $11m price guide through Marshall White, now has a $12.5m asking price. It last sold in 2015 at $7.6m to the Shenfamily, having been listed with $8m hopes following itsDavid Hicks renovation andJack Merlo-designed garden installation.
There had been over 11,000 views of the marketing on realestate.com.au.
With 829 homes auctioned across the city, Melbourne hosted the most auctions of any capital city last week, up 6 per cent on the prior week. Some 61 per cent of the 684 auction results collected so far returned a sale.
–
Right on Kew
The Kew home of Mike Cutter, a non-executive director at Pepper Money, Australia’s largest non-bank mortgage lender, and his wife Isobel had been listed for auction next weekend, September 3, but has gone under offer pre-auction.
Kay & Burton agent Judy Balloch had given a $5.4m to $5.8m price guide for the five-bedroom, two-bathroom house that sits on a 1089sq m holding. Cutter, who has over three decades of experience in the financial services industry, paid $1.65m in 2004.
Kew had Melbourne’s top auction house sale when $5.1m was paid for of a Neil Clerehan-designed 1980 riverfront clifftop home on Rockingham Close. The three-bedroom, two-bathroom home was marketed as having knockdown potential. The price guide had been $3.3m to $3.6m, but soared $1.6m above the reserve set by its owner, retired physiotherapist Nancye Best, who turns 100 next month. The 730sq m building block was bought for $80,000 in 1979 with her late husband, Dr James Best.
There were over 13,000 views of its online marketing on realestate.com.au, and four bidders.
Kew also saw 56 Gladstone St fetch $3,174,000 on Saturday.
Gladstonville, a double-fronted 1880s Victorian cottage on 794sq m, featured a laced veranda. There were three bidders with it announced on the market at $2.93m. It sold through Echo Guo and Simon Lord at Jellis Craig, having last sold at $1.24m in 2006.
The five-bedroom 1930s house at 62 Argyle Rd, Kew, which had been listed with $3m to $3.3m hopes, fetched $3.71m with three bidders.
–
Busy Brisbane
Across the smaller capitals, Brisbane was the busiest but had the lowest preliminary clearance rate, with 41 per cent of the 145 auctions retuning a successful result.
Brisbane’s north saw a $6.95m sale when seven of the 10 registered bidders pursued the keys to a Clayfield auction offering. Tanglin House was built in the distinctive colonial architectural style by the vendor, Hillier Carter Properties founder Nick Carter, a former Sandhurst-trained British Army Officer, and his wife Gayle. The Florence St house was designed by Rob Cottee of Cottee Parker Architects.
There were over 8200 views of the listing at realestate.com.au.
Ray White agent Nicholas Given said the grand five-bedroom, three-bathroom family home, complete with a tennis court on its 1610sq m holding, sold to a local buyer. It has 490sq m of living space, with a lift to access the upper level installed after Carter’s mother, now 101, emigrated from Britain five years ago. The vendors are downsizing to an apartment in New Farm.
–
Deakin dynamo
Adelaide hosted 139 auctions and recorded a 78 per cent preliminary clearance rate, while 62 per cent of the 88 auctions held in Canberra found buyers.
Canberra’s top sale was a newly built split-level home at 6 Hopetoun Circuit, Deakin, which fetched $2.9m through Mario Sanfrancesco at Blackshaw Manuka.
It was the builders’ own home.
The 700sq m building block cost $982,000 in 2017, when it sported a 1960s home.
Adelaide saw a $1.72m top sale when the 1920s three-bedroom bungalow at 2 Fern Ave, Fullarton sold.
It had been listed with $1.6m guidance from Sharon Gray at Ouwens Casserly.
–
Spring recovery
With the spring selling season kicking off, auction activity on the last weekend of winter rose above the 2000 mark for the first time in nine weeks. It was the fourth consecutive week of increased volumes.
After holding above 60 per cent for the past two weeks, there was a dip in the national success rate to 59 per cent from the 1522 results collected so far by CoreLogic.
“Spring will be an important test for the depth of housing demand amid higher advertised supply,” Tim Lawless at CoreLogic said.
“The chances are demand will fade further as interest rates continue to rise, leading to above-average levels of listings and tougher selling conditions.”
PropTrack economist Angus Moore said Melbourne would see a busy auction list, boasting Australia’s top three suburbs for forthcoming offerings. Reservoir has 48 homes set to for auction across the first three weekends of spring, followed by Glen Waverley’s 38 and Craigieburn’s 36.
Moore noted it was a return to form for the Victorian capital, which had entered both of the past two springs in pandemic lockdown.
More Coverage
