Model Jennifer Hawkins and her husband Jake Wall have listed their breathtaking North Curl Curl home for November auction.
Designed by her favourite architect Koichi Takada, the five-bedroom, three-bathroom home has a resort-style feel, featuring a heated pool, expansive living and dining spaces and panoramic ocean views.
The former Miss Universe and her builder husband are moving to their waterfront Newport ‘forever’ home.
The two-storey property has a gas fireplace and oak flooring, sliding glass walls which open to a covered Travertine terrace and level lawn, a family room, a Miele-fitted stone kitchen, and a master suite with designer dressing room and ensuite.
There are just five North Curl homes currently up for sale, with 28 house sales so far this year compared to 40 during the same 10 months last year.
The shortage of property listings is the biggest talking point of the 2016 spring selling season in Sydney and Melbourne.
There are many factors at play but a vicious cycle with home owners not wanting to sell while there is little on the market to then buy.
Melbourne finally gets its long-awaited surge in auctions next weekend, much to the relief of buyers feeling deprived.
But the traditional pre-Derby Day-Melbourne Cup fillip sees around 1200 offerings, significantly below the record 1479 over the pre-Cup Superb Saturday last year.
One jaw-dropping penthouse apartment on the Eastbourne building just hit the market in Melbourne for a lazy $11.5 million.
According to the Robb Report, the 8697-square-foot Grand Pavilion Penthouse overlooks the Fitzroy Gardens and boasts soaring 12-foot ceilings, walls of windows, hand-tooled stone finishes, and a six-car garage.
Sydney’s auction activity will fall away next weekend with just over 600 auctions scheduled, which, according to Domain, is down on the 800 last year.
Despite home prices rising, the volumes languish well below previous highs, CoreLogic research recently noted.
CoreLogic estimates 339,000 houses and 132,000 units sold in Australia over the year to April.
The combined 471,000 annual tally was down almost 26 per cent from the 633,000 transactions over the 12 months to May 2002, the last sales volume peak year.
CoreLogic research head Tim Lawless foresees the consequences of property owners less willing to list properties for sale.
Any short supply of housing stock is likely causing some urgency among buyers which is contributing to the upwards pressure on dwelling values, Mr Lawless suggests.
Strong auction clearance rates continued given the lower weekend volumes with Canberra’s near 84 per cent narrowing topping the recent market leader Sydney, which had an 83 per cent success rate.
“It has been another strong week for auction results, with a preliminary national auction clearance rate of 77.9 per cent,” CoreLogic’s Kevin Brogan said.
The clearance rate has remained above 70 per cent since the last week in July.
There were 2405 auctions held across the combined capital cities, up on last week’s 2290, but down on the 2858 capital city auctions held last year.
Auction numbers were down a touch in Canberra where there were 74 auctions and an 83.9 per cent success, as opposed to 86 auctions held on the same weekend last year when there was a clearance rate of 68 per cent.
Canberra prices ranged between $445,000 at Flynn and $1.6 million at Narrabundah.
The Canberra top seller last sold for $240,000 in 1998. Luton Properties had offered a $1.2 million-plus pre-auction price guidance on the property that had been a $1000 a week rental.
The nation’s top sale was in Toorak where $6.25 million was paid on Albany Road.
There had been a $5.5 million reserve at the Kay & Burton auction which saw four bidders.
Across Melbourne, the preliminary clearance rate was steady at 78 per cent, remaining above the clearance rate for the city one year ago when it was 72 per cent.
Melbourne also had the nation’s cheapest result when $265,000 was secured at Thomastown.
The two-bedroom property had last sold at $168,000. The prior top sale in the complex of five was $260,000 in 2014.
Sydney’s preliminary auction clearance rate was 83.3 per cent, the 26th consecutive week above 70 per cent.
Adelaide’s clearance rate was 68 per cent, Brisbane was at 52 per cent, while Perth’s clearance rate of 50 per cent was among the strongest in recent times.
Jonathan Chancellor is editor-at-large at Property Observer.