ABC Melbourne radio broadcaster Libbi Gorr and her TV producer partner Stewart Burchmore doubled their money over their decade ownership when they secured $3.23 million for their redundant Sydney home at a weekend auction.
The three-bedroom North Bondi offering, which has been a $1350 weekly rental earner over the past four years, cost $1,605,000 in 2007.
The auction had four bidders – all above the signalled $2.9 million reserve – on the offering which was marketed as having potential to live in, renovate or completely rebuild.
More impressive, the final result saw the house sell for a massive $355,000 above its reserve.
Gorr got her big break on Andrew Denton’s ABC sports comedy program Live and Sweaty, where her satirical character Elle McFeast emerged in 1991.
Elsewhere, singer-songwriter Xavier Rudd has listed his four-bedroom retreat north of Byron Bay for a solid $2.45–$2.69 million.
The trendy abode comes complete with a recording studio and is marketed as “the ultimate professional musician’s home”.
Rudd paid $722,500 for the land in 2012 before he commissioned Chris Walker Constructions to build his fabulous home.
The 220 square metre house was built with a mix of native timbers, stone and handcrafted features prominent throughout.
Glen Huntly saw the nation’s cheapest weekend result when a one-bedroom apartment sold for $260,000.
Woodards agent Ruth Roberts got the sale having previously sought unsuccessfully to secure $310,000 when it was scheduled for 2013 auction.
The first-floor 131 Grange Road property traded last in 2005 at $175,000. The 44 sqm 1965-built apartment was advertised in 2015 for a $275 a week rental.
Auction markets have remained resilient, with both volumes and the preliminary clearance rate rising week-on-week, according to CoreLogic’s latest report.
The property data firm says that the strong auction results add some complexity to speculation that the housing market is moving through its peak rate of growth.
“At face value, auction markets are continuing to indicate continued strength in selling conditions across Sydney and Melbourne, however it’s harder to know whether vendors are adjusting their reserve pricing in order to clear their property,” auction analyst Kevin Brogan said.
Sydney returned to be the capital city with the highest clearance rate – and it also secured the top sale when records fell in Strathfield, with an $8.8 million sale by Sanity boss Ray Itaoui and wife Rachel.
Their Frank Lloyd-Wright inspired mansion that cost them $5 million in 2010 sold through Georges Ellis & Co agent Joseph Georges.
The suburb record has been set four times in the past year.
There were 2376 auctions held across the capital cities over the week to Saturday, with a preliminary auction clearance rate of 76.2 per cent.
Last week, a final clearance rate of 73 per cent was recorded across 1689 auctions.
It was a better performance than the corresponding period last year, when auction volumes were lower at 1876 properties and a clearance rate of 69.5 per cent.
Melbourne had the highest number of auctions with 1092 properties going to market, with a lower preliminary rate of clearance week-on-week at 76.8 per cent, down on the 77.5 per cent across 792 auctions.
Melbourne’s top sale was a five-bedroom house at Kew that sold for $4.515 million.
The 8 Mawson Street property was offered through Marshall White agents Mike Beardsley and Scarlett Hang.
Reality TV renovators Joe and Fil sold their Maribyrnong house which was transformed on the Channel 7 show House Rules.
Listed so they can move on to their next project, the pair had added a fourth bedroom and third bathroom to the house at 12 Grandview Avenue.
Rendina Real Estate, Kensington agent Richard Rending told The Herald Sun prior to auction the buyer interest had been in the vicinity of $1.3 million.
The House Rules contestants Joe and Fil sold for $1.27 million after it was passed in at $1.11 million
In Sydney, 938 auctions were held this week, up from 592 over the previous week. The preliminary clearance rate of 79.4 per cent was up from 73.8 per cent last week.
It was higher than this time last year, when a clearance rate of 76.2 per cent was recorded across 647 auctions.
There were 127 Brisbane homes taken to auction with the preliminary clearance rate at 61.8 per cent, up from 59.6 per cent last week and higher than one year ago.
A three-bedroom Brisbane townhouse at Richlands sold for $280,000, making it Brisbane’s cheapest weekend auction result. It sold at $339,000 on its 2009 completion.
Located at 23/20 Kathleen Street, the Progress Park property was marketed as suitable for investment or first home buyers.
Brisbane’s dearest sale was a renovated 1910 Nundah house at $2.46 million. The 33 Oxford Street property captures bay breezes and city skyline. The two-storey house with pool and tennis court was offered through Ray White having last sold at $1,905,000 in 2009.
Adelaide saw a preliminary clearance rate of 71.8 per cent, with 71 reported results across a total of 100 scheduled auctions.
A four-bedroom house at Trinity Gardens sold for $1.47 million making it Adelaide’s most expensive weekend auction result.
Located at 115 Ashbrook Avenue, the property sits on a 841 sqm block of land. The 1900 home last traded at $505,000 in 2004.
The property was offered through Klemich Real Estate agent Steve Alexander who had advised $1.25 million expectations.
There were 31 Perth auctions this week and so far 14 results have been reported, with 42.9 per cent selling.
Across Canberra a total of 79 auctions were held compared to 58 last week, with a preliminary clearance rate of 75.8 per cent.
Canberra’s most expensive weekend auction sale was a modern two-storey house at Deakin which sold for $1.694 million.
Located at 13 Newdegate Street, the four-bedroom property had a $1.5 million price guide.
Jonathan Chancellor is the editor at large at Property Observer.