The long-time Cremorne residence of Sydney media figures Lisa Wilkinson and Peter FitzSimons was passed in at a private auction on Saturday, failing to meet its anticipated sale price of $24.5 million. Negotiations are reportedly ongoing as the couple seeks a buyer for their iconic property.
Purchased in 1998 for $2.95 million, the five-bedroom home on Sydney’s lower north shore had a price guide of $23 million. Despite this, there is no legal obligation for the vendor’s reserve to match the price guide, leaving room for further discussions post-auction.
Historic Home with Panoramic Views
The Federation-style home, set on 3214 square meters, boasts sweeping views of Sydney Harbour and the city skyline. It underwent renovations by heritage architect Clive Lucas, enhancing its historical charm. The couple, known for their media influence—Wilkinson as a former co-host of the “Today” show and FitzSimons as a former Wallaby and current author—are looking to downsize now that their children have left home.
The property is listed with Monika Tu of Black Diamondz and Brad Pillinger of Pillinger. The move to sell follows a broader trend among empty nesters looking to simplify their living arrangements.
Market Movements in Sydney
Elsewhere in Sydney, a young family secured a property in East Lindfield for $3.85 million at auction on the same day. The double-brick home on Wellington Road, guided at $3.6 million, attracted four registered bidders. The winning family plans to renovate the kitchen and bathrooms, outbidding a local developer who intended to demolish and rebuild.
Domain Group recorded a preliminary auction clearance rate of 73.8% from 721 reported results throughout the week, with 142 auctions withdrawn.
Jessica Cao of Ray White Upper North Shore noted the appeal of East Lindfield’s block size and flat-level backyard, highlighting the suburb’s younger demographic due to its school catchment and newer constructions.
Shifting Dynamics in the Housing Market
In Miranda, a downsizer from Sutherland Shire purchased a three-bedroom, penthouse-style apartment for $1,252,000. Guided at $995,000, the property attracted 11 registered bidders. The buyer was drawn to the apartment’s three-car garage and proximity to local amenities.
Luke Lombardi of Pulse Property Agents observed increased activity in the unit market, driven by the expansion of the First Home Guarantee. This initiative allows first home buyers to purchase with a 5% deposit, with property price caps raised to $1.5 million in Sydney.
Continued Interest in Family Homes
Meanwhile, in Five Dock, a young family from Croydon Park paid $3.48 million for a single-level brick home. The property, guided at $2.8 million, features a solid timber kitchen and outdoor entertainment area. Its location near Five Dock shops and the Bay Run adds to its appeal.
This series of auctions reflects the dynamic nature of Sydney’s real estate market, where demand remains strong across various segments despite economic uncertainties. As negotiations continue for Wilkinson and FitzSimons’ home, the outcome may set a precedent for similar high-profile properties in the area.
