Finance Property Grand homes old and new snapped up in Sydney despite icy market
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Grand homes old and new snapped up in Sydney despite icy market

sydney mansions
A stately Bellevue Hill mansion and a modernised Greenwich abode were weekend standouts. Photos: The Agency / Belle Property
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The top weekend auction offering was a trophy home with harbour views from its hillside Bellevue Hill location.

The prestigious Sydney listing was sold, at an undisclosed price, after being passed in at $16.2 million through The Agency agent Ben Collier at its onsite auction.

The home of UniLodge student accommodation company founder Jane Hewitt and husband, Mariner Securities director Gary Symons, had been listed with $15 million hopes.

They paid $11.71 million for the six-bedroom Drumalbyn Road home in 2013 when buying from APN News and Media chairman Peter Cosgrove.

The contemporary home with Mediterranean overtones sits on 1415 square metres with a heated Peter Glass swimming pool.

Sydney’s biggest auction was this mansion, sold by UniLodge founder Jane Hewitt and husband, Mariner Securities director Gary Symons. Photo: The Agency
Bellevue Hill is an affluent eastern Sydney suburb, about 5km from the CBD, full of grand old homes. Photo: The Agency
bellevue
The new owners will enjoy six bedrooms and five bathrooms. Photo: The Agency
It’s definitely a family home, with plenty of room for children to play. Photo: The Agency

Sydney’s preliminary clearance rate fell to 52.3 per cent on the opening winter weekend, down from the prior weekend’s final clearance rate of 56.1 per cent.

“As results are collected it will be interesting to see if the final Sydney clearance rate will remain above 50 per cent,” CoreLogic auction analyst Kevin Brogan said.

The last time Sydney’s clearance rate fell below 50 per cent was between late 2010 and 2012 as the market moved through a downturn.

The top under-the-hammer sale was in Sydney’s Greenwich when interior architect, Freya Reid, a principal of architecture firm Cave + Reid Design, and her husband Peter Reid secured $5,750,000, which was $250,000 above reserve.

Four of the eight bidders participated in bidding on the four-bedroom, three-bathroom home at 20 Wilona Avenue, The Sunday Telegraph noted.

The contemporary home comes with heritage-listed former coach house on its 713-square-metre block.

They’d bought the property in 2007 for $1.9 million and completed a full redesign and rebuild in 2016.

This Greenwich home sold for $5.75 million, making it Sydney’s – and the nation’s – second-biggest auction result. Photo: Belle Property
Plenty of room to entertain a large family. Photo: Belle Property
greenwich
The main bedroom has stunning views across Sydney. Photo: Belle Property
A home chef’s delight, with Carrara marble kitchen, butler’s pantry and wine cellar. Photo: Belle Property
The agents described it as a ‘stunningly restored and modernised family sanctuary’. Photo: Belle Property
Tall ceilings help extend the view over the city. Photo: Belle Property

The first week of winter saw 2272 auctions across the capital cities, with the market returning a preliminary clearance rate of 57.6 per cent.

Adelaide was the strongest capital at 68.2 per cent, with Canberra in second place at 65.9 per cent. Only 26.7 per cent of homes sold across Perth.

Brisbane’s clearance rate sat at 50 per cent, with its top sale being a five bedroom Teneriffe offering that fetched $4,405,000.

There were seven registered bidders at the Sunday afternoon auction through McGrath agent Henry Hodge.

Melbourne returned a preliminary clearance rate of 61.6 per cent, increasing from last weekend’s 59 per cent final clearance.

Melbourne’s highest sale was $5.44 million in Middle Park through Cayzer Real Estate. The 80 Nimmo Street offering was listed with $5 million to $5.5 million hopes.

It was an original Edwardian residence, with Little Page Street along its side, which was offered for the first time in more than 60 years.

Melbourne had the nation’s cheapest sale when $255,000 was paid for 39/39 King Street, Dandenong.

Its price guide had been $210,000 to $230,000.

The two-bedroom, two-storey townhouse last sold for $157,000 in 2007.

Weekend auction sales also included Brendan Moar, the gardening guru, who accepted $2.5 million in Camperdown.

It was sold at the pre-auction price guide, with just the one bidding of the two registered parties.

Jonathan Chancellor is editor at large at Property Observer

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