Ray White NSW & ACT head of auctions Perry Edmondson-Clark said the momentum in the market was certainly continuing, with buyers very eager to secure a property in autumn.
“Early signs are showing we will see a dip in availability of stock in the coming months, meaning for any sellers considering coming to market this year, now would be a great time to pull the trigger,” Mr Edmondson-Clark said.
“Real estate is a supply and demand business, so to come to the market now and sell with a degree of isolation, will see buyers compete and great prices achieved.”
19 Malvern Avenue, Roseville
Sold under the hammer for $4.98 million (reserve was $4.65 million)
Two registered bidders, both active
Lead agent: Jessica Cao - 0466 877 260
Ray White Upper North Shore
Jessica Cao said two bidders was all you need to create competition.
“We had a third bidder who pulled out at the last minute but in the end the winning bidder was a young couple. It is not their first home, they are upgrading from an apartment,” Ms Cao said.
“The sellers are another family, and the house was a little small for them; although they loved the location and the style. They ended up buying a bigger home as an investment a few years ago, which they are moving into now.”
Ms Cao commented that the market was a bit hard to pick at the moment in Sydney.
“There are a lot more transactions happening in the marketplace, it is essential that sellers and agents position the properties correctly though.
“March is our last selling month before Easter holidays, so it will be interesting to watch what happens in March with the higher volumes.”
92 Hewlett Street, Bronte
Sold under the hammer for $3.825 million (reserve was $3.1 million)
12 registered bidders, six active
Lead agent: Nick Wiggan - 0476 239 329
Ray White Eastern Beaches
Auctioneer: James Hayashi, Ray White
Nick Wiggan said the winning bidder was someone relocating from Melbourne who had only seen the property today for the first time.
“She found it at the last minute and gave me a call last night; we took her through it this morning before the auction,” he said.
The seller was a 93 year old woman who lost her husband 20 years ago. She has 22 nieces and nephews and no children of her own.
“She’s moving to a nursing home and her niece was acting on her behalf. They are a very close family and were all over the moon with the result,” Mr Wiggan said.
“They built this home themselves 70 years ago and were very well loved by the neighbours, which meant that 50 people came to watch the auction.”
47 Aldebaran Street, Cranebrook
Sold under the hammer for $815,000 (reserve was $756,000)
Seven registered bidders, six active
Lead agent: Jasmyn Calgaro - 0481 230 228
Ray White Nepean Group
Auctioneer: Max Nell, Ray White NSW/ACT
Ms Calgaro said the winning bidders of this mortgagee in possession sale were a retiring couple who were looking to flip a property.
“They only saw the property on Wednesday and thought it was perfect.They will then either rent it out or sell it,” she said.
“The market is great here; we don’t do many auctions but I was thrilled at how many people came to bid and onlook today.”
“I have made 15 sales in February alone, which shows how busy we are. The interest rates have not had a huge effect on price yet, but we are noticing some more confidence returning,” Ms Calgaro said.
19 Lindsay Street, Burwood
Sold under the hammer for $3.31 million
Nine registered bidders, four active
Lead agent: Spiro Mavridis - 0401 426 636
Ray White Zoom Group
Auctioneer: Perry Edmondson-Clark, Ray White NSW/ACT
Mr Mavridis said that the five-week campaign drew in huge interest due to the property’s large land parcel.
“It was tricky because the home needed to be gutted and had some structural issues.
“The winning bidder sold his home in Strathfield and wants to move into Burwood. He is keen to restore a large home for him and his family,” he said.
The home had been in the same family for 47 years, and they have relocated to Nowra.
“It was emotional and tough for them after being in the property for so long. They were over the moon with the result,” he said.
17 Monahan Avenue, Banksia
Sold under the hammer for $1.81 million (reserve was $1.4 million)
13 registered bidders, five active
Lead agent: Nicholas Economos - 0409 553 555
Ray White Rockdale
Auctioneer: Alex Pattaro, Ray White NSW/ACT
Mr Economos said that the home had a lot of character and charm, with great street appeal. “Even though it was old and needed a facelift, a lot of people saw the potential. It was also in a nice quiet cul-de-sac,” he said.
The winning bidders were a couple who are renting in the Coogee area, and they are planning to renovate the home.
“It was owned within the same family for over 80 years and they were absolutely shocked and delighted with the result today.”
31-31A Fischer Street, Kingsford
Sold under the hammer for $4.65 million (reserve was $4.3 million)
Four registered bidders, three active
Lead agent: Roger Wardy - 0481 355 493
Ray White Touma Taylor Group
Mr Wardy said this property was initially listed in October last year.
“This was on the market longer than expected, so we dropped the guide by $750,000. When we took the property to market, buyers realised that the block was quite restrictive so the owners needed to drop their price,” he said. The winning bidder bought the home for their family members to move into. The sellers are two brothers who sold to buy separate properties.
