Finance Property ABC star reporter buys Newtown terrace
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ABC star reporter buys Newtown terrace

newtown home auction
Is the purchase a sign the risks of a crash have eased? Photo: Viewey
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ABC Four Corners journalist Michael Brissenden has bought an inner Sydney terrace at weekend auction.

The Newtown home cost $1.675 million, just $10,000 above its official reserve.

Three of the five registered bidders participated at the onsite auction which came with a $1.475 million buyer’s guide.

Brissenden, who The Sunday Telegraph reported opened the bidding at $1.4 million, had been Canberra-based for his previous roles as 7.30 political editor, host of AM, defence correspondent and an overseas correspondent.

The single-storey, three-bedroom terrace had last traded at $880,000 in 2010, almost doubling in price over the intervening eight years.

It sold at $51,000 in 1984.

newtown house
The agents billed the Sydney home as a “modern family terrace in blue ribbon location”. Photo: Viewey
michael brissenden
Mr Brissenden is a veteran reporter at the ABC. Photo: ABC
newtown house
The ABC journalist paid just under $1.7 million for the property. Photo: Viewey
newtown house
The jewel in the crown is the private court garden, with rear lane access. Photo: Viewey

There were 767 auctions held in Sydney returning a preliminary auction clearance rate of 62.5 per cent this weekend, compared to 63.1 per cent across 797 last weekend, and 74.5 per cent across 960 auctions one year ago.

Sydney’s top sale was 30-32 Glebe St, Randwick which fetched $4.5 million pre-auction through BresicWhitney.

At Turramurra there was a pre-auction sale at $4.35 million.

The custom-designed five bedroom Meadowbank residence was set on a 1138 sqm Boomerang Street block framed by established gardens.

The Di Jones agent Tim Fraser was initially suggesting it could fetch $3.9 million with the higher price secured after some eight contracts were issued to the 130-plus inspection attendees.

Sydney’s most expensive sale was this Randwick home, at $4.5 million. Photo: BresicWhitney
randwick home
The new owners will no doubt enjoy the enormous media room. Photo: BresicWhitney
The property is set on a spacious 757 sqm block. Photo: BresicWhitney
randwick home
The well-kept garden was a clear selling point. Photo: BresicWhitney

Sydney sales also included a dilapidated $875,000 Marrickville terrace purchased by a young builder.

The 14 Middle St, Marrickville offering was under instructions from NSW Trustee and Guardian.

Agents suggested it was probably the cheapest house sold in the inner west for five years.

David Diamantopoulos of Devine Real Estate told The Sunday Telegraph it was so cheap as he was prevented from offering buyers a price guide due to the government rules surrounding NSW Trustee and Guardian sales.

CoreLogic calculated there were 2,245 homes taken to auction across the capital cities, returning a waning preliminary auction clearance rate of 61 per cent.

In the prior weekend’s results there had been 2,311 auctions with a final clearance rate of 62.1 per cent.

Over the same week last year, auction volumes were higher with 2,409 homes going under the hammer with the clearance rate at a stronger 72.8 per cent.

CoreLogic’s Kevin Brogan noted units outperformed houses with 63.6 per cent of units selling at auction, while 59.8 per cent of houses found buyers.

In Melbourne, Australia’s largest auction market, a preliminary auction clearance rate of 61.2 per cent was recorded across 1,090 auctions this weekend, down from 63.7 per cent across 1,144 auctions last weekend. One year ago, the clearance rate was a stronger 75 per cent across 1,098 auctions.

A private weekend auction saw a $9 million Glen Iris sale, a record price for the suburb whose top sale had been $6.55 million since 2011.

It had been listed with $7 million to $7.7 million price guidance through RT Edgar’s Mark Wridgway, who did the Saturday auction ahead of the closing deadline for Monday’s scheduled expression of interest.

Word of the price leaked out given the attendance of buyers’ agents representing some of the six active bidders.

The 4 Fairview Grove, Glen Iris offering was a Christopher Doyle-built period home, renovated around a decade ago, on a 2000 sqm block with tennis court.

The property last sold 20 years ago at $1.178 million.

This Glen Iris mansion has set a new record for the suburb at $9 million. Photo: RT Edgar
The master bedroom is enormous. Photo: RT Edgar
Of course, no mansion could be without its pool and tennis court. Photo: RT Edgar
The bathroom alone could be a selling point. Photo: RT Edgar
The home is clearly made for entertaining. Photo: RT Edgar
And all this on a vast 2000sqm block. Photo: RT Edgar

There was also a public Glen Iris weekend auction of the trophy home at 36 Howard Street, which was passed in on a $3.3 million vendor bid.

The two-storey sandstone residence now comes with a $3.65 million asking price.

Melbourne’s highest officially notified result was $4.58 million for 390 Richardson Street, Middle Park.

The double-fronted unrenovated four-bedroom house had been listed with a $4 million to 4.4 million price guidance.

“Once clearance rates are finalised early next week, it’s highly likely they will be revised lower, with both Sydney and Melbourne clearance rates potentially falling below the 60 per cent mark,” said CoreLogic auction analyst Kevin Brogan.

CoreLogic collated 586 Sydney results with its preliminary 62.5 per cent success rate from the past six days.

Domain’s Australian Property Monitors put the weekend clearance rate at 56.4 per cent, taken from 333 reported Saturday results. Sydney real estate agents withdrew 89 properties from auction on Saturday and are still to report results for 155 scheduled auctions.

Canberra was again the best performing capital with a 77.1 per cent success rate across its 80 auctions.

Brisbane saw a 50 per cent success rate with the top offering, Bengtson, a modernised East Brisbane Queenslander.

But the 4 Didsbury Street home, built in 1896, was passed in on a $1.65 million vendor bid by Shane Hicks from Place Bulimba.

The top Brisbane sale was the ninth floor apartment at 93/23 Griffith Street, New Farm, offered for the first time since new in 1973.

The spacious 200 sqm apartment in Gemini Towers fetched $1.41 million with riverfront views.

An $182,000 sale in Brisbane’s Ipswich region was the nation’s cheapest result.
The 5 Melbourne Street, Brassall offering was three bedrooms on stilts on an 810 sqm block.

“It’s big, ugly and neglected but very recoverable and could be a real steal,” was the marketing pitch.

The Raine & Horne agent had notified interested parties that flood water did come onto a portion of the block in 2011 – about ankle deep at the lowest point.

Council records indicate the flood water was 5.2 meters below the eaves of the home which had sold at $199,000 in 2013.

The official land value was recently put at $125,000.

Jonathan Chancellor is editor at large at Property Observer

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