Former Treasurer Joe Hockey sold his former Canberra bolthole at the weekend for $1.515 million in what’s been described as a ‘good buy’ for the new owners.

The three-bedroom property in the prestigious suburb of Forrest sold soon after being passed in on a $1.5 million vendor bid at its 25 Furneaux Street onsite auction.

Mr Hockey and his wife Melissa Babbage bought the three-bedroom home in 1997 for just $320,000.

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The 1930s house was placed on the market after he quit parliament to take the diplomatic job of Australian ambassador to the United States.

“I think it was a great buy,’’ agent Kaylene King told the Daily Telegraph.

“Given its location and the median house price of $1.8 million to be able to get into that area at the price is good buying.’’

“Joe has been absolutely delightful. Motivated to have a sale, he wants to move on to other things.’’

The home was bought for $320,000 in 1997. Photo: LJ Hooker

The house was sold for a bargain, according to the real estate agent. Photo: LJ Hooker

The bathrooms and kitchen have been renovated. Photo: LJ Hooker

Across Canberra, 69 auctions were held this week with a 64 percent sales success, including five properties fetching more than $1 million.

Meanwhile, a Somers beachfront offering near Melbourne steeped in book publishing history failed to secure its next chapter on Sunday.

The property was listed by Elizabeth Lane, the daughter of Penguin Books co-founder Richard Lane.

There was a $3.4 million vendor bid for 52-54 The Promenade, with the seven-bedroom Mornington Peninsula home now having a $3.75 million asking price through Iain Carmichael of Jellis Craig, in conjunction with Kay & Burton.

The early 1990s Young, Lehmann Architects-designed home sits in low-maintenance, two-acre gardens by landscape designer David Wood.

Ms Lane has maintained thousands of Penguin books – with their bright orange spine – as well as diaries and other memorabilia, which she intends to gift to the University of Melbourne library following the sale.

A property that featured on The Block at 403 Dorcas Street, South Melbourne, in 2012 sold without much fanfare at $1.73 million.

It was originally bought by Energy Watch boss Daniel Wallis at $1.4 million after its renovation by brothers Mike and Andrew Jones.

The terrace is set over three levels featuring four bedrooms, 2.5 bathrooms, living and entertaining zones and gourmet style kitchen. Photo: Hocking Stuart

High ceilings and voluminous light-filled rooms. Photo: Hocking Stuart

More establishment than celebrity, the Vestey home on Sydney Harbour at Kirribilli fetched $10.22 million when auctioned on Sunday, the top-selling home at weekend auctions across Australia.

There were four bidders for one of the handful of freestanding homes with absolute waterfrontage on Sydney’s lower north shore suburb.

The classic, but tired 1930s estate at 19 Elamang Ave, Kirribilli sold under the auction hammer after 49 years’  ownership having last traded at $66,000.

The couple, who own a non-waterfront nearby, were the last to enter the bidding contest at just over $10 million, after it was announced as on the market at $9.6 million.

The 765 sqm property was offered following the death last October of Joyce Strong, née Vestey.

She was the daughter of Leonard Vestey, the third son of William Vestey, the head of one of the biggest butchery families in the world.

The property had been listed with a price guide of $9 million to $9.5 million through Belle Property agents Mark Jackson and Matthew Smythe.

The last freestanding home on the Kirribilli strip traded nine years ago when money advisor and yachtsman Paul Clitheroe paid $7.75 million for his knockdown.

Views of Sydney Harbour. Photo: Belle Property

The property sold for over $10 million. Photo: Belle Property

Cronulla secured Sydney’s cheapest sale, a $540,000 two-bedroom apartment.

Melbourne’s school holidays saw the absence of the typical prestige offerings, with the top sale being $2.75 million in Aberfeldie. The 2006-built Victorian-era style four-bedroom home sold two years ago at $2.32 million.

The house in Aberfeldie included abundant Calacatta marble and three ovens.

Melbourne was the busiest capital city auction market this week, after Sydney was the busiest for the past two weeks.

The 794 Melbourne auctions secured a clearance rate of 73 per cent, according to CoreLogic RP Data.

Inner Melbourne, with 171 auctions, and north east Melbourne with 110 auctions, were the busiest sub-regions of the city, with clearance rates of 72 per cent and 76 per cent respectively, while a weatherboard house in Spotswood sold for $1.35 million.

Brisbane had the weekend’s cheapest sale at $237,000 at Waterford West for a three-bedroom home which last sold at $235,000 in 2006.

The national 67 per cent success rate was up from the 66 per cent last week, but remains lower than one year ago (77 per cent).

The March 2016 quarter combined capital city clearance rate was 69 per cent, well below the 75 per cent rate in the March 2015 quarter.

Jonathan Chancellor is editor-at-large at Property Observer