Prestige listings hit the market as spring looms
Veteran banker Drew Bradford and his wife Alison have listed their late 1800s Woollahra trophy home, as prestige listings hit the market ahead of the traditional spring surge.
Veteran banker Drew Bradford, who recently quit the National Australia Bank, and his wife Alison have listed their late 1800s Woollahra trophy home, as prestige listings hit the market ahead of the traditional spring listings surge.
Bradford, who had been the NAB’s executive general manager of markets for 12 years, now holds down a part-time position as director of special projects at JellyC, the crypto fund manager.
The Ocean St abode cost $7.25m in 2013 after its renovation by Tanner Architects. It features Will Dangar gardens.
Michael Pallier and Mary Lin at Sydney Sotheby’s International Realty are seeking $20m for the house, which backs on to the Republic of Serbia consulate.
The clue to Bradford’s new professional pursuit came when he graduated from the University of California, Berkeley earlier this year with a online study certificate in Blockchain and cryptocurrencies.
Bradford, who turns 60 later this year, has set up Catena Digital.
The home is just two doors from other listing early birds, the Point Piper-bound Laser Clinics co-founder Alistair Champion and his wife Kate who’ve listed their even more imposing late 1800s Victorian residence, Icilus, with $25m hopes for August 18 auction.
The Champions purchased it in 2017 for $13.5m from coal miner turned restaurateur Brendan McPherson and his wife Rowena.
The interiors have been curated by Claire Delmar of CD Studio, as showcased in Vogue Living.
Meanwhile an 1890s terrace weekend auction listing at 17 Moncur St, Woollahra, remains on listing websites with $7.5m hopes.
The renovated three-bedroom, three-bathroom terrace, which spans three floors, last sold for $6m in 2019 when bought by the Toorak-based investor Skipp Williamson, the founder of Partners in Performance, a management consulting firm. It has since been leased at between $2400 and $2950 a week.
Manly magic
Sydney’s top advised sale was in Manly where a sub-penthouse fetched $6.35m prior to its scheduled weekend auction through McGrath agent Matt McEwan. The three-bedroom, two-bathroom 703/54 West Esplanade apartment came with ocean views from its 203sq m space. It was the first sale above $6m in the complex, where there have been four sales above $5m since 2018.
Sydney’s highest under-the-hammer notified result was at Rose Bay where $4.31m was secured by Ray White agent Clay Brodie. The three-level 28A Blake St offering, which attracted around 3400 views on realestate.com.au, has city skyline views. The buyers’ guide had been $4m.
A Cranbrook Lane, Bellevue Hill home was passed in at $9,028,000 through McGrath agent Luke Hogan.
A six-bedroom home on 1081sq m at 35 Headland Road, Castle Cove with Middle Harbour views, which had been guiding $6.85m through Craig Ireson of McGrath, was one of 82 withdrawals across Sydney, which was up on the 63 average over the prior four weeks.
Sydney was host to 760 auctions last week, a 9 per cent boost on the prior week, with the success rate down from 74 per cent to 72 per cent. This time last year, when 624 homes were auctioned, there was a 50 per cent success rate, according to CoreLogic.
Adelaide again recorded the nation’s strongest preliminary clearance rate at 82 per cent, with Sydney in second place.
Noosa knock-back
Queensland had the nation’s dearest auction listing at 7 Noosa Pde, Noosa Heads, but the waterfront offering of a hexagon-shaped triplex apartment complex is yet to sell after being passed in at $15m.
Its Tom Offermann Real Estate listing agent Jesse Stowers marketed it with concept plans for a luxury home by local designer Chris Clout.
The Offermann auction did see the sale of a home at 7 Wild Apple Court, Noosa Heads, which fetched $2.4m through Peter TeWhata. There were three bidders, one from Sydney and two locals, with a local family successful. Located in the Elysium masterplanned community, the 2008-built home is close to the walking track connecting to the Noosa Springs Golf Course. The home, designed by Arkhefield Architects, last traded at $1.025m in 2015.
Back in Brisbane, the modern five-bedroom house at 1 Craven St, Clayfield remains for sale.
But a modernised five-bedroom house at 25 Prospect St, Wilston sold for $3.5m and the 993sq m building block at 111 Main Ave, Windsor fetched $3.15m, both through Ray White agent Matt Lancashire.
“Throughout these two campaigns we received 9845 online views,” Lancashire says.
There were 102 buyer inspections.
The Wilston offering had six registered bidders, with the buyers a local couple with a six-month-old baby.
The empty nest vendors had lived on the street for two decades, initially in a different house before buying 25 Prospect St 10 years ago from the original owner, who’d lived there for 80 years.
The 1930s residence had been transformed by MRD Studio.
The preliminary clearance rate for Brisbane dropped to 58 per cent.
Melbourne busy
Melbourne’s 846 auctions ranked as the busiest of the capitals last week, with its preliminary clearance rate at 69 per cent. Over the same week last year, 809 auctions were held reflecting a 56 per cent clearance rate.
Melbourne’s dearest reported sale was $3.55m in Richmond. The 24 Park St sale price was above the $3m to $3.3m price guidance from Jellis Craig agent Elliot Gill and vendor advocate Craig Knudsen. There was no heritage overlay for the substantial Victorian era home on 490sq m, which last sold in 1984 at $135,000.
The next priciest advised price was $3.34m for the 1940s English style home on 1266sq m at 22 Yeovil Rd Glen Iris.
Signs of recovery
The combined capitals saw 1960 homes taken to auction last week, returning a preliminary auction clearance rate of 70.2 per cent, from the 1481 results collected by CoreLogic. Despite a 13 per cent increase in the dwellings taken to auction, the national success rate only dipped slightly on the prior week’s 70.7 per cent preliminary result.
PropTrack economist Anne Flaherty noted last week was the highest number of homes auctioned since the peak of the autumn selling season.
“Given listings were relatively subdued over the first half of 2023, this could be a sign that some vendors who were holding back from selling are now coming to market.
“It could also be a symptom of higher interest rates driving more mortgage holders to sell,” Flaherty says.
Auction levels will remain above 2000 for the next two weeks, she said.
The most viewed listing on realestate.com.au last week was the five-bedroom home at 64-66 Berkeley St, Hawthorn on Scotch Hill that features an eight-vehicle underground garage.
It has had over 15,000 views since Kay & Burton listed it with $8m plus hopes.
More Coverage
To join the conversation, please log in. Don't have an account? Register
Join the conversation, you are commenting as Logout