Longueville turret trophy home sale signals brightening end to Sydney's autumn auction season
Wanganui, the grand Longueville trophy home residence, sold hours before today's scheduled auction for close to $6.5 million.
The home with its blue turret sold for the first time in 57 years - bought by architect David Reuben Lennon in 1958 for £13,500.
Set on a 2087 square metre holding at 58 Lucretia Avenue, the 1893 Wanganui had a price guide of $6.5 million plus with just a slither of land tracking down to the water.
Its blue corner turret with an ogee cupola was its defining feature, built in 1893 by architect C J Ross.
While its much needed renovation dampened any above expectation price escalation, its sale topped off the final weekend of a stellar Autumn auction season.
APM reported the preliminary weekend clearance rate as 87.4% in a fillip on the recent fortnight.
Northing under 80% for almost all of the autumn selling season. Last weekend's revised success rate was 83.4%.
"The Sydney home auction market entered May in record breaking form and recorded an astonishing 89.2 percent clearance rate on May 9," APM senior economist Dr Andrew Wilson said.
"It appeared just a matter of time before a 90 percent plus weekend result was recorded.
"But this has not eventuated – so far – with the market weakening over the past fortnight," he said before today's results.
The weekend Sydney was scheduled to host nearly 850 auctions, well ahead of the 750 auctioned last weekend but below the 907 auctioned over the same weekend last year.
The weekend’s stronger auction numbers reflects some sellers avoiding the Queen’s Birthday holiday next weekend.
Mosman, Cronulla and Pymble were the most popular suburbs for auctions in Sydney with 10 each followed by Strathfield, Hurstville, Epping and Wahroonga with nine each and Baulkham Hills, Chatswood, Menai, Earlwood and Annandale each with eight auctions scheduled.
Sydney’s inner west hosted the most number of auctions with 129 listed followed by the upper north shore with 124, the south 123, the city and east 95, the lower north 81, Canterbury Bankstown 62, the west 60, the south west 55, the northern beaches 44, the north west 42, the central coast 18 and the Blue Mountains with just the one auction scheduled.
Most expensive | |||
| Sydney | 52 Edgecliffe Esp, Seaforth NSW 2092, 5 br House, RW Lower North Shore | $4,425,000 | |
| Melbourne | 36 Wentworth Av, Canterbury VIC 3126, 4 br House, Jellis Craig Hawthorn | $3,950,000 | |
| Adelaide | 13 Ormonde Av, Millswood SA 5034, 4 br House, Ouwens Casserly | $925,000 | |
| Brisbane | 19 Eskgrove St, East Brisbane QLD 4169, 3 br House, RW Ascot | $1,700,000 | |
| Canberra | 9 Geerilong Gdns, Reid ACT 2612, 3 br House, Peter Blackshaw Manuka Pty Ltd | $1,800,000 | |
Most affordable | |||
| Sydney | 39/103-111 Longfield St, Cabramatta NSW 2166, 3 br Unit, R&W - Cabramatta | $125,000 | |
| Melbourne | 3/6 Hatfield Ct, West Footscray VIC 3012, 1 br House, Sweeney Footscray | $220,000 | |
| Adelaide | 5 Glyde St, Albert Park SA 5014, 2 br House, Harris Real Estate - Glenelg | $390,000 | |
| Brisbane | 57 Australia 11 Drive, Kensington Grove QLD 4341, 3 br House, ELD Laidley | $185,000 | |
| Canberra | 3/39 Bywaters St, Amaroo ACT 2914, 3 br Townhouse, Luton Properties - Gungahlin | $430,000 | |