Acclaimed fashion designer Alannah Hill has secured the sale of her chic whitewashed St Kilda West terrace at auction.
The 1880s Boom Style Victorian home drew just one bidder on Saturday, with the three-bedroom Mary Street house passed in at $2.325 million.
Marshall White agents Adrian Wood and Michael Paproth sold it for an undisclosed price soon after, believed to be in the mid-$2 million range.
Hill had paid $1,905,000 in 2013 before renovating the house in her signature style – draping it in marble, plenty of pink and chandeliers.
She was reluctantly selling because it was too big for her and her son.
A $7.65 million sale of a heritage home in Hawthorn was the nation’s top auction result, on a weekend when Melbourne cemented its dominance over Sydney on the auction front.
The four-bedroom single storey Lisson Grove home had last sold 20 years ago at $1,225,250, reflecting close to 10 per cent annual price appreciation.
There were extensive renovations in 2010 at the 1700 square metre property which came with a tennis court.
After an opening bid of $6 million, five bidders took the offers to an on-the-market $6.7 million.
There had been seven bidders at its 1997 auction but only two were prepared to pay beyond $1.1 million.
Across Australia auction volumes rose to 2407, returning an initial clearance rate of 69.6 per cent.
It is the third week in a row where the combined capital city clearance rate has sat below 70 per cent.
At the same time last year, auction volumes were lower, with 2183 properties selling at a clearance rate of 67.4 per cent.
Sydney’s preliminary auction clearance rate was 72.4 per cent, an improvement after last week’s final result of 67.7 per cent.
“However, as more results are collected it’s likely Sydney’s final clearance rate will again slip below the 70 per cent mark,” CoreLogic auction analyst Kevin Brogan said.
One year ago, results show that 73.4 per cent of Sydney homes taken to auction were successful, he noted.
Sydney’s volumes were higher, up to 906 from 619 last week.
A South Coogee home at 2 Denning Street sold for $2 million above reserve this weekend, topping $6 million.
Melbourne’s auction results have also moderated, however the clearance rates remains well above 70 per cent, “indicating some resilience in selling conditions relative to Sydney”, Mr Brogan said.
Melbourne’s preliminary auction clearance rate of 72.2 per cent across 1121 auctions included the nation’s cheapest when $195,000 was paid for a one-bedroom West Footscray flat.
The 16/7-9 Hatfield Court unit offered through Biggin & Scott last sold at $38,000 in 1997.
Other sales included The Seekers’ manager Graham Simpson and his writer wife Jacqui selling their Hampton home of 15 years for $2.1 million.
The Wave Street 1911 Edwardian offering had three bidders who took the sale price $80,000 past reserve. It last sold at $786,000 in 2002.
There were 150 Brisbane homes taken to auction, with a preliminary clearance rate of 49 per cent, down from 52.2 per cent last week but higher than one year ago, when 45.1 per cent of the 120 properties taken to auction were successful.
Brisbane’s top sale was when $2.5 million was paid by southerners for 71 Ormadale Rd, Yeronga.
The architecturally designed contemporary home was set on a riverfront 959 square metre lot.
The buyers, Paul and Dawn Burgoyne, had spent the past three weeks looking for a Brisbane base, seeking out the city’s forgiving cold season.
“Brisbane winters are just the best, so the plan is to basically run two homes – six months of the year up here and six months back home in Melbourne,” Mr Burgoyne told The Courier Mail.
Jonathan Chancellor is editor at large at Property Observer.