A knockdown in Ryde, an apartment in Newtown, a house in Blakehurst and a St Marys home on ‘the golden mile’
The auction was held at 30 Dorothy Street with auctioneer Charlie Powell of Apollo Auctions.Credit: Sitthixay Ditthavong
There is no legal requirement for a seller’s reserve to match the property’s price guide.
“Registered bidders have been told there are only five people competing at the moment, but if we put this into a private deal campaign next week I wouldn’t be surprised if we were presented with 10 to 15 bids,” Nicholls said.
The pink bathroom is a feature of 30 Dorothy Street but the house will be demolished to make way for a new building.Credit: Specialization
“That little bit of dialogue was enough to encourage bidders to stop being slow and let them know if they are here to buy.”
A two-storey brick house in St Marys sold for $2,005,000, exceeding its $2 million reserve.
Four-bedroom property of 1208 square meters 66 Australia Street It was purchased by an investor who will rent it out and turn over the keys to another investor.
Guidance based on feedback during the campaign started at $1.6 million and increased to $1.9 million.
Bidding started at $1.8 million, and agent Peter Diamantidis of Ray White United Group said he eliminated three of five registered bidders.
Confident bids of $50,000 were made and the buyer, a son from the northern beaches acting on behalf of his father, tipped the final $5,000 to outbid his rival.
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“They said, ‘We might be paying a little more now, but we know we’ll be buying this place for a lot more in 12 months,'” Diamantidis said.
“I call it the golden mile; it’s one of the best streets in St Marys.”
In Newtown, a first home buyer relocating from Melbourne went into contract for a $1,181,000 updated two-bedroom brick flat with locking garage for a reserve of $1.1 million.
Four of the five registered bidders were first home buyers. The sole investor was the winning bidder for the property 1/344-348 Edgeware Road.
Bids between the three active parties opened at $950,000; This was $25,000 below the $975,000 price guide and rose in $25,000 and $10,000 increments.
In the end, a bid of $1,000 was enough to prevail.
Agent Adrian Vassallo of Stone Real Estate Newtown said the buyer had been looking for 18 months.
“Apartments in older buildings with locked garages tend to be very popular, especially when they have low floor rates,” he said.
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Auctioneer Edward Riley said the result was indicative of buyer excitement spurred by the Australian government’s 5 per cent deposit scheme and speculation of a rate cut in November.
“It’s clear that sentiment has changed, with many buyers eager to get in before conditions potentially improve further,” Riley said.
A family-sized home in Blakehurst was contested by two registered bidders and was purchased by a newlywed couple in their 20s for $3,347,000.
The $3.3 million reserve was in line with the property’s initial price guide. 25 East Street. During the campaign, the guide was set at $3 million.
The 809-square-meter, five-bedroom house has a saltwater pool, an open kitchen and a high glass entrance.
“Open-plan living opens up to a really nice entertaining area and that’s important to the market,” said agent Aaron Bird of McGrath St George.
The auction began with a seller bid of $3 million, followed by a bid of $25,000, and Bird said the cautious pace picked up when the auctioneer announced the home was on the market.
The bidders were a middle-aged couple.
