A Kew home built with a dream man cave by Anderson Homes boss Laurie Anderson has been snapped up before its scheduled weekend auction.
It was the 2017 Master Builders Association Victoria runner-up for home of the year, which left the judges, like the buyers, impressed by the home’s hydraulic-raised driveway.
The Hillcrest Avenue driveway led to the basement in the home that cost $4 million to build after its design by Anderson Homes in conjunction with Stephan Kosa Architects.
The vast basement came with golf driving range, bar with beer on tap, wine cellar, plus workshop complete with car turntable and its automotive driveway ramp.
There was even light through a window view through to the pool.
There’s a lift to upstairs in the four-bedroom, four-bathroom home that sat on a 740 square metre block which cost $1.98 million in 2014.
No sale price has emerged, but Kay & Burton agent Scott Patterson and Fletchers’ Jeremy Desmier had initially advised to expect to pay between $6.2 million to $6.8 million.
There’s speculation closer to $7 million was achieved, which would rank as the top result for weekend listings.
The auction clearance rates across capital cities continue to yo-yo.
CoreLogic advised the capital cities saw fewer homes taken to auction, with a total of 2280 held, down on the prior weekend tally when 2577 were held.
But the lower volumes saw an improved preliminary clearance rate at 63.5 per cent, up on the weekend prior’s revised clearance rate which ranked the lowest over the year to date with 60.3 per cent of properties selling
The unit market outperformed houses, returning a 67.7 per cent clearance rate, with 61.7 per cent for houses.
It follows the price trend where the unit market prices are outperforming house value growth, units being the more affordable segments of the market.
Although the preliminary clearance rate has shown a positive rise over the week, CoreLogic auction analyst Kevin Brogan advised the trend in auction clearance rates clearly shows a downwards trend.
“Auction markets remain more buoyant than December last year, when Sydney clearance rates reached a low point of 52 per cent, however the weaker auction results suggest housing market conditions are likely to remain relatively soft,” Mr Brogan said.
“Looking at results over the corresponding year-to-date period last year, the capital city auction market was performing quite differently, with an average of 10 per cent more homes selling over the same period last year, while weekly volumes continue to show similar trends.”
Melbourne returned a preliminary clearance rate of 63.5 per cent this week across 1137 auctions, down on last week when 1334 auctions took place and a higher 63.9 per cent cleared.
Sales were occurring after auctions, including an Elsternwick offering.
The Block alumni reno stars Julia Treuel and Sasha Wright-Neville’s latest project fetched $2.485 million in post-auction negotiations after it passed in on a vendor bid of $2.3 million.
The Herald Sun reported that Gary Peer & Associates agent Jeremy Rosens had been quoting $2.3 million to $2.5 million for the 2016 transformed four-bedroom Edwardian at 7 Willow Street.
There was a post-auction result too on a converted Fitzroy furniture factory with Provan-Ludlow design.
The 51 South Little Smith Street offering fetched $2.015 million after the house had passed in at $1.925 million through Jellis Craig Fitzroy agent Bev Adam who said said the buyer and sole bidder came from St Kilda East.
Melbourne’s top officially advised result was 507 Orrong Rd, Armadale, a 10-bedroom offering.
Listed with $5.5 million to $5.95 million hopes, it fetched $6.6 million.
Set on the corner of Karbarook Ave, benefiting from a GRZ Schedule 3 zoning, the 1930’s English-style residence currently divided into three separate apartments was marketed by Marshall White as “an outstanding opportunity for a luxury development”.
There were just two bidders after the property was announced on the market at $6.25 million.
There was also a $6.25 million sale in Hawthorn when the four-bedroom Biasca, at 20 Riversdale Court was sold.
It was listed with $5.3 million to $5.8 million price guidance.
In Sydney, 774 auctions were held this week with 66.9 per cent selling, up on last week when only 55.8 per cent of auctions were successful across 829 auctions.
Sydney’s top sale was at Balmain, in Sydney’s inner west, where a three-bedroom waterfront sold $500,000 above reserve at $4.8 million.
Brisbane saw the nation’s cheapest sale at $220,000 for 4 Dale St, Kingston. The three-bedroom Logan district home that sits on a 658 square metre block last traded in 1974 at $17,000.
Results were varied across the smaller auction markets this weekend, with Canberra and Perth recording a slight increase in week-on-week volumes, while the remaining markets saw fewer auctions take place.
Canberra was the strongest performer with 74 per cent of homes selling, while only 18 per cent of Perth homes sold.
Prices in Canberra ranged between $417,000 at Casey and a $1,475,000 sale at Turner.
Jonathan Chancellor is editor at large at Property Observer