Former NAB boss Cameron Clyne selling family home in Vaucluse
The Vaucluse home of former NAB chief executive Cameron Clyne and his wife Melinda slipped on to the market on Friday.
The Vaucluse home of former NAB chief executive Cameron Clyne and his wife Melinda slipped on to the market on Friday.
The Kings Rd house is the first of the spring selling season’s trophy home auction listings.
It is scheduled for September 9 auction through Goodyer agent Pauline Goodyer.
The five-bedroom, four-bathroom home with harbour views sits on a 708sq m holding.
There is a grand entrance foyer with soaring ceiling. Its chef’s kitchen comes with Miele appliances and induction cooktop. The cellar can hold over 2000 bottles.
There is a saltwater solar and gas-heated pool plus a hot tub.
It was purchased in 2007 for $6.15m, and will have more than doubled in price.
Clyne took the NAB job as CEO-designate, aged 40, in October 2008 during the Global Financial Crisis, when he succeeded John Stewart.
He spent much of his tenure trying to fix NAB’s underperforming wealth business, MLC, and its British operations, with commutes to Melbourne most weeks, as well as spending months in the UK.
Clyne handed over the reins to Andrew Thorburn in August 2014.
The family retains a 17ha Southern Highlands weekender.
Other than his subsequent stint as chairman of the Australian Rugby Union, Clyne has been low-key, content in his role as chairman of advisory firm Camel Partners. He has sat on the board of the Whitlam Institute since 2016, and is an adjunct professor with the School of Business at Western Sydney University.
Clearance slips
The national clearance rate has fallen for the third week in a row, but remained above 70 per cent for the 12th week. The combined capitals saw 1729 home listings, returning a 70.7 per cent preliminary clearance rate.
The weekly volume was lower than this time last year when 1812 auctions were held with a 52 per cent success rate, CoreLogic calculates.
“Overall selling conditions are still looking pretty good, but have cooled a little as the flow of new listings picks up,” Tim Lawless at CoreLogic said.
After two weeks of Sydney topping the results, Adelaide, with 115 auctions, returned to having the strongest capital city clearance rate at 74.6 per cent.
Adelaide investors sold a three-bedroom, two-level, 10-year-old corner offering at 3 Crewe St, Munno Para for $388,200, $38,200 over reserve, through Lukasz Jaworek at Ray White.
All five registered bidders were active amid the 75 bids, which ended in a purchase by a first-home buyer with the help of a HomeStart grant.
The vendors are retiring and “didn’t want to worry about the mortgage”, Jaworek says.
Investors living on the same street bought the auction offering of a five-bedroom home on 4001sq m at 24 Beatrix Drive, Craigmore for $885,000, $135,000 over reserve, through Bailey Truscott at Ray White.
Busy Sydney
Sydney was the busiest capital city with 699 auctions last week. Preliminary results showed a 74.2 per cent clearance rate, down from the prior week’s 74.9 per cent.
Sydney’s dearest listing and dearest outcome was a three-level contemporary home at 6 Adina Rd, Curl Curl which fetched $6,663,000. The five-bedroom, three-bathroom house was designed by local architect Darren Tye and sold previously at a record $3,025,000 in 2011, after being newly built.
Brisbane clearance up
Brisbane, which had 168 auctions, saw its preliminary clearance rate rise six percentage points to 66 per cent last week.
Two trophy homes sold under the hammer, led by 35 Katoomba Ave, Hawthorne which fetched $5.25m through Ray White agent Matt Lancashire. It was a 1930s Queenslander transformed by architects DAHA. The 959sq m holding cost $1.47m in 2019.
The home at 76 Crescent Rd, Hamilton with a contemporary Shane Marsh design fetched $5.2m through Lanchashire and Tom Lyne. It came with over 590sq m of living space and sold to a local family.
“Throughout these two campaigns we received 12,142 online views,” Lancashire says.
There were more than 200 inspections.
Five bidders sought the Hamilton offering, with four pursuing the Hamilton home.
On the Gold Coast, a six-bedroom, five-bathroom house at 78 Admiralty Drive, Paradise Waters sold fort an undisclosed price through Surfers Paradise First National.
It attracted 3300 views on realestate.com.au.
The home last sold in 2008 at $4,325,000, and had been listed for private treaty sale earlier this year at $6.3m.
Volume rising
There were 668 auctions held in Melbourne last week, continuing a four-week trend of increased volumes. Its 68 per cent preliminary clearance rate was the lowest since the Easter weekend, CoreLogic says.
The nation’s dearest capital city weekend offering was in Kew.
It was snapped up on auction eve for an undisclosed price, having been listed with $7.5m to $8.2m guidance from Annabelle Feng and Ted Jao at RT Edgar.
The five-bedroom, seven-bathroom home with a French Provincial-style facade water-fountain entry was built in 2012 with a $940,000 building estimate, following the purchase of the 835sq m holding at 58 Normanby Rd for $1,428,000 in 2011.
Boyd masterpiece
The auction for the last house designed by iconic Melbourne architect Robin Boyd drew nearly 100 bids, with $1.61m paid at Ringwood East. It was bought by architect Craig Tan and wife Gemma, the fifth owners, through Jellis Craig agent Mark Salvati.
The three-bedroom, modernist home was built in the early 1970s for journalist Patrick Hegarty and wife Gerda, who sold in 1973 for $53,500. It last sold at $226,000 in 1997.
Another affordable Boyd sold last month at 18 Marcus Rd, Frankston South, fetching $2.14m through Janice Dunn at Janice Dunn Real Estate. The three-bedroom, three-bathroom home with courtyard on a 4082sq m natural bush setting was built in the late 1960s for teacher Ian McClune. It last sold at $975,000 in 2013, and was then modernised with solar heating, an extra bathroom and pool added by the vendors, the Rafeld family, who had engaged architect Karl Fender. It was a commission that saw him return to the home he’d helped design as an apprentice to Boyd at his office in East Melbourne.
Boyd died in 1971, aged 52, a decade after publishing his best-selling book The Australian Ugliness where he decried the mediocrity of residential design.
July pick-up
PropTrack economist Anne Flaherty calculates activity is set to pick up over the final week of July, with just shy of 2300 homes going under the hammer this week, but then there’s a dip to 1888 in the first week of August.
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