Australian Supercars driver Rick Kelly has secured $3.7 million for the sale of his beachfront home at Carrum overlooking Port Phillip Bay.

The weekend sale came soon after the two-storey Nepean Highway house had been passed in at $3.4 million at its Ray White auction.

The resort-style property, which features three bedrooms, sold to a local mature-age couple.

The nation’s top sale came elsewhere in Melbourne when the Armadale home of former Qantas chairwoman Margaret Jackson sold for $5.84 million.

The property was designed by renowned architect Graham Jones and inspired by the incredible beachfront position. Photo: Ray White

The two-storey three-bedroom home looks over the waters of Port Phillip Bay. Photo: Ray White

The four-bedroom house saw two bidders compete for the property owned by downsizers, Ms Jackson and her husband Roger Donazzan.

The Marshall White auctioneer Justin Long opened with a vendor bid of $4.8 million, then declared it on the market at $5.42 million.

Last traded in 2004 at $2.75 million, it was offered with price hopes of between $4.9 million and $5.39 million.

Secluded behind a high wall, a picturesque forecourt with tranquil water feature creates a wonderful first impression. Photo: Marshall White

The home also features a double height reception hall with oak parquetry floors and a private garden. Photo: Marshall White

The first weekend of August saw fewer auctions across the capital cities, according to the CoreLogic property data firm, which calculated the national clearance rose to 71.5 per cent.

The capital cities had 1846 auctions at 68.7 per cent success rate, down from the 1987 auctions held over the prior week, but still up on a year ago when there were 1540 auctions.

“Final results have been consistently in the high 60 per cent range since the first week of June,” Kevin Brogan, CoreLogic’s auction analyst, said.

Across the two larger auction markets, Melbourne continued to show resilience.

Melbourne’s 75.7 per cent result came from 799 reported auctions.

There were 907 auctions held across the city, down from 956 last week when the final auction clearance rate was 75.6 per cent.

The volume was higher than the 724 auctions held one year ago, along with a lower clearance rate of 74.2 per cent last August.

An Albert Park house sold for $5 million.

Located at 24 Herbert Street, the home came with three bedrooms plus study, along with two bathrooms.

The Albert Park property sold for $400,000 above the reserve. Photo: Hockingstuart

The three-bedroom open plan home is framed by magnificent floor to ceiling glass aspects. Photo: Hockingstuart

The home was set behind a striking, original art deco facade, of the former Morris Bros Union Dairy on the 327 square metre block.

The property, offered through David Wood at Hockingstuart, had a $4.6 million reserve.

It was a family that eventually came out on top, paying $400,000 above reserve set by the vendor who renovated after the property was bought for $626,400 in 1999.

Melbourne’s St Kilda East has the nation’s cheapest sale when a one-bedroom apartment sold for $307,000.

Located at 22/87 Alma Road, the property was marketed as perfect for first home buyers.

Built in 1960 it was last sold in 2010 for the same price of $307,000.

The one-bedroom apartment in St Kilda East sold for the same price seven years ago. Photo: Buxton

Across Sydney, 615 homes were taken to auction with a preliminary clearance rate of 71.1 per cent across 477 reported results.

Last week, the final clearance rate for the city was 65.4 per cent, across 714 auctions.

Sydney’s top sale was a three-bedroom Mosman apartment that sold for $4.7 million.

Located at 20B Redan Street, the Balmoral Slopes offering last sold in 1995 for $1.025 million.

Sydney’s most expensive home at the weekend – a three-bedroom Mosman apartment – sold for $4.7 million. Photo: Max Walls International

Perfectly poised high on the Balmoral Slopes, the views speak for themselves. Photo: Max Walls International

The duplex was offered through Max Walls International agent Anthony Walls.

Domain reported over the first seven months of this year, 19,221 Sydney homes had been auctioned – some 31 per cent higher or 4628 more than the 14,593 listed over the same period last year.

There were 153 Brisbane homes taken to auction this weekend, with the preliminary clearance rate at 48.8 per cent, down from 49.6 per cent last week.

Brisbane’s Fig Tree Pocket saw Rivergum Retreat, a mansion, owned by former Linc Energy boss Peter Bond, fail to sell at auction.

The riverfront seven-bedroom, nine-bathroom mansion on 1.2 hectares was passed in at $9.25 million, $250,000 short of its 2008 purchase price. 

The commanding residence offers over 1900sqm of living space elegantly set on a 1.21-hectare estate. Photo: Ray White

Other highlights include a climate-controlled wine cellar, fully equipped gym, a boardroom, meeting rooms, and a gold class cinema. Photo: Ray White

Ray White agent Matt Lancashire marketed it as “one of the most substantial properties in Brisbane”.

Bidding between two parties started at $8 million. 

Brisbane’s top sale was a five-bedroom house at Calamvale for $3.3 million.

Located at 85 Menser Street, the 10,119 square metre property was marketed as having development potential.

The property was last sold in 2016 for $3.08 million and has approval for 38 town houses.

Adelaide recorded a clearance rate of 69.4 per cent across 59 auctions, up from 64 per cent across 82 auctions last weekend.

A 1910 stone-fronted Prospect house was among Adelaide’s results, selling for $955,000.

Located at 46 Johns Road, the four-bedroom 1910 property last sold in 1994 for $165,000.

The 1910 stone-fronted Prospect home features a north facing extension, detached studio/workshop and double side-by-side covered parking. Photo: Ouwens Casserly

Perth’s clearance rate surprised with a 72.7 per cent across 35 auctions.

It was up from the previous week, when 28 auctions were held and a clearance rate of 34.8 per cent was recorded.

Canberra’s preliminary auction clearance rate of 69.6 per cent was lower than last weekend, when the final auction clearance rate was 70.5 per cent and lower than the 74.1 per cent recorded on the same weekend last year.

A five-bedroom Hackett house sold for $1.26 million making it Canberra’s most expensive weekend auction sale.

Located at 4 Verco Street, the property is set on the foothills of Mount Majura nature reserve.