The Longueville childhood home of late artist Brett Whiteley has sold after negotiations following its weekend auction.
The top bid was $4.14 million, with the sale price to its inner-west buyers going undisclosed.
The Sunday Telegraph reported the buyers were one of four parties who registered to bid for the four-bedroom, three-bathroom 1920s home.
The 18 Lucretia Avenue home was the artist’s home after his parents paid 2300 pounds in 1944.
Clem and Beryl Whiteley had bought the house when their son was five years old.
It was sold for $33,500 in 1967.
The modernised home last sold in 2012 for $2.55 million.
There were 459 auctions held in Sydney returning a preliminary auction clearance rate of 59.1 per cent, compared to 51.9 per cent across 462 last week. It was 67.6 per cent across 798 auctions one year ago.
There was also a 59 per cent national clearance rate among the 1400 homes taken to auction across the combined capital cities.
Over the same week last year, auction volumes were considerably higher with 2040 homes going under the hammer across the combined capital cities.
This time last year the clearance rate was a stronger 67.5 per cent.
Melbourne, Australia’s largest auction market, saw a preliminary auction clearance rate of 61.3 per cent across 718 auctions this week.
It was up from 57 per cent across 629 auctions last week. One year ago, Melbourne’s clearance rate was a stronger 69.8 per cent across 955 auctions.
Melbourne’s top reported sale was $3,105,000 for 5 Currajong Road, Hawthorn East.
The modernised four bedroom timber Edwardian home had a price guidance of $2.85 million to $3.1 million.
Perth was the weakest performing market with a 43.8 per cent success rate, followed by Brisbane’s 49.2 per cent.
Brisbane had the nation’s cheapest result when mortgagees sold at Deception Bay, located 32 kilometres north of the CBD.
The $305,000 sale was a two-storey, three-bedroom home.
It had last sold in 1994 at $48,000.
Jonathan Chancellor is editor at large at Property Observer