Gina Rinehart joins last-ditch pre-Christmas Sydney auction sale hopefuls

Australia’s richest woman Gina Rinehart has the former Mosman home of her daughter Hope Welker listed among the 800 plus Sydney auctions scheduled for December 14 auction.

The contemporary Bradleys Head Road house (pictured below), bought in 2007 for $5.4 million, has reported $5 million plus auction hopes. Ms Welker and her husband, Ryan Welker, vacated the property as they departed for New York in 2011, around the time the family dispute over control of the family's mining interests became public through litigation.

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The bumper spring auction season - with a 900 plus Sydney record this weekend and Melbourne's second highest ever at 1327 - is set to spill over into early summer.

Indeed Australian Property Monitors shows both capital have 100 plus listings (see below) on the December 21 weekend.

The 2013 auction listing schedule:

Satu                      Sydney                    Melbourne

7/9/13                   211                         420

14/9/13                 628                        833

21/9/13                 556                         853

28/9/13                583                         45

5/10/13                 257                         719

12/10/13               721                         866

19/10/13               634                         927

26/10/13              688                        1,358

2/11/13                 744                         120

9/11/13                 796                         965

16/11/13               773                         1,078

23/11/13               751                         937

30/11/13               900                        1,327

7/12/13                 834                         1,292

14/12/13               887                        1,246

21/12/13               113                          110

Source: Australian Property Monitors

With this wekend's 902 offerings, Sydney's inner west is the busiest with 123 scheduled, followed by the south with 116, the west with 78 and the city and east with 70.

Epping in the city's north will offer the most prospects this weekend with 15 homes scheduled to go under the hammer. Maroubra and St Ives have 10 auctions each followed by Carlingford with nine and Mosman with eight auctions scheduled.

In Melbourne this weekend the most popular suburban region for auctions is the inner bayside with 228 properties scheduled to go under the hammer. Next busiest region is the inner city, with 213, closely followed by the inner east with 208, the west with 199 and the north east with 177.

Preston has 24 properties scheduled for auction, the busiest suburb. Brighton will also be busy with 22, along with Richmond and Elwood with 20 each, Toorak with 18 and Glen Iris and Mentone each with 17 homes up for sale, according to APM.

It's not just auction sales strength. Sydney's private treaty market strength continued into November, according to the latest Australian Property Monitors data on days on market and required discount to secure a private treaty sale.

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Source: Australian Property Monitors

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Source: Australian Property Monitors

news@propertyobserver.com.au


Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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