The Cremorne home of Australian media personalities Lisa Wilkinson and Peter FitzSimons did not sell at a private auction on Saturday, despite a bid of $24.5 million. The couple, who have owned the property since 1998, are now in ongoing negotiations.
Purchased for $2.95 million, the five-bedroom residence on Sydney’s lower north shore was listed with a price guide of $23 million. The sprawling estate, set on 3214 square meters, boasts panoramic views of the harbor and city skyline and was renovated by renowned heritage architect Clive Lucas.
Wilkinson, a former co-host of the “Today” show, and FitzSimons, a former Wallaby and current author, are reportedly looking to downsize as their three children have left home. The sale is being handled by Monika Tu of Black Diamondz and Brad Pillinger of Pillinger.
Market Dynamics and Auction Trends
The auction of the Wilkinson-FitzSimons home reflects broader trends in Sydney’s real estate market. The property was one of 1153 scheduled for auction in the city this week. According to Domain Group, a preliminary auction clearance rate of 73.8% was recorded from 721 reported results, with 142 auctions withdrawn.
In a separate auction, a young family purchased a five-bedroom home in East Lindfield for $3.85 million. The property, which had a reserve of $3.7 million, attracted four registered bidders. The buyers plan to renovate the kitchen and bathrooms.
The median house price for East Lindfield is $4,235,000, compared to $3,695,000 for Lindfield, according to Domain data.
Shifts in Buyer Preferences
Jessica Cao of Ray White Upper North Shore noted the appeal of East Lindfield’s block sizes and flat-level backyards, highlighting a younger demographic due to the area’s school catchment zone and newer builds. The absence of a conservation overlay allows for demolition and rebuilding, adding to its attractiveness.
Meanwhile, in Miranda, a downsizer from the Sutherland Shire spent $1,252,000 on a three-bedroom, penthouse-style apartment. The property, guided at $995,000, saw 11 registered bidders, with three participating actively. The appeal lay in its three-car garage and proximity to local amenities.
Future Market Implications
Luke Lombardi of Pulse Property Agents observed increased market activity, especially for units, driven by the expansion of the First Home Guarantee. From October, first home buyers can purchase with a 5% deposit, with property price caps in Sydney raised to $1.5 million and no limit on the number of places.
In Five Dock, a young family from Croydon Park paid $3.48 million for a brick home with dual street frontage. The property’s proximity to shops and the Bay Run, along with its solid timber kitchen and outdoor entertainment area, contributed to its appeal.
Of five registered bidders, four participated, with bidding opening at $2.5 million and rising in varying increments.
As negotiations continue for the Wilkinson-FitzSimons residence, the auction outcomes across Sydney reflect both the resilience and evolving dynamics of the city’s real estate market.
