Curl Curl cottage stars in Sydney weekend auctions

Curl Curl cottage stars in Sydney weekend auctions
Curl Curl cottage stars in Sydney weekend auctions

It was Sydney's time in the auction spotlight as the busiest capital city auction market, given Melbourne's holiday long weekend distraction.

There was a jump back to an above 70 percent clearance rate for Sydney to boot. 

An original condition Curl Curl fibre cottage (above), which was set to take a starring role in the 2004 film Eucalyptus, captured the enthusiastic spirit when sold at $1.933 million at its onsite auction.

The 1940's house missed its chance in the spotlight given the cancellation of the film adaption of the Murray Bail book, but its Ray White agents secured $213,000 above reserve.

Some 11 registered bidders sought the rare offering as the 40 Bennett Street property had last traded for £3,500 in 1953.

Sitting on 700 sqm of level land, the original cottage has three bedrooms and a sunroom, all a short walk to the beach. 

With 680 Sydney auctions there was a 72 percent, up on last week's dip to 68 percent.

Sydney’s strongest performing sub-regions were Ryde with an 86 percent success rate, followed by the Eastern Suburbs at 84 percent and Inner West at 78.6 per cent. 

South of Sydney the childhood Kiama home of the Oscar winning Hollywood fashion designer Orry Kelly, sold at auction.

It was just the 1880s cottage, not the block of land.

It fetched $1000, and is now set to be relocated to a Jamberoo farm, nine kms inland. 

The vendors who plan to rebuild on the block saved themselves around $30,000 in demolition fees.

Transportation of the period gem, two bedroom cottage with high ornate ceilings, polished floorboards and stained glass windows, was estimated at about $30,000.

Kelly, who had grown up in the home in the early 1900's, won three Oscars for his costume design in An American in Paris (1952), Les Girls (1958) and Some Like It Hot (1960). 

With Monday a public holiday for four out of the eight states and territories, the week saw 1,426 auctions held across the combined capital cities, substantially lower than the 2,304 held last week.

Click to enlarge

Curl Curl cottage stars in Sydney weekend auctions

 

The combined capital city clearance rate softened this week, down from 68 percent last week to 66 percent, pulled lower by softer clearance rates in Brisbane (44 per cent), Perth (46.7 per cent) and Tasmania (33.3 per cent).

CoreLogic RP Data noted one year ago, the weighted average clearance rate was 77 per cent.

The nation's top auction sale was a triplex Drummoyne development site on Sydney Harbour that fetched $11 million.

It was downsizers who completed at Cremorne Point for a three-bedroom triplex garden apartment that fetched $4,065,000 in the highest Sydney single abode price.

The auction saw 10 parties raise their bidding cards after the $3.1 million opening bid. There had been a $3 million to $3.3 million auction price guide.

Melbourne's priciest sale was a $3.35 million Preston development site, while 46a Kinkora Road, Hawthorn was the dearest house sale at $2.83 million, at well above reserve.

The renovated four bedroom, two storey 1986 home had sold at $2,071,000 in March two years ago, with just a minor refurbishment inbetween sales.

A Victorian era Hawthorn home at 5 Yarra Street was passed in on a $4.4 million vendor bid, after the one buyer bid at $4.35 million. It had sold in spring 2014 at $4.36 million, suggesting little if any price growth.

Only 414 Melbourne auctions were held with the 70 percent successrate, a slight decrease on the 72 percent last week. Melbourne’s North West was the best performer, with 80 percent of reported auctions successful followed by the Inner South at 79 per cent.

A three bedroom home at Melton West was the nation's weekend's cheapest sale at $261,000, narrowly edging out a $262,500 sale in Loganholme, set mid-way between Brisbane and the Gold Coast. The basic two bedroom Queenslander had last sold in 1986 for $41,500.

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Auctions Residential Sales

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