Unrenovated inner west home sells for $2.4m
Updated ,first published
An unrenovated Federation-era house in a heritage conservation area in Stanmore sold at auction for $2,445,000 on Saturday.
More than 50 people gathered 61 Corunna RoadThey spilled from the footpath onto the street as auctioneer Emma Brown-Garrett opened with a bid of $1.8 million. The property had a guide of $1.95 million and a reserve of $2.12 million.
There is no legal requirement for a seller’s reserve to match the property’s price guide.
Thirteen bidders signed up, with five bidding in increments starting at $50,000, first to $20,000 and then to $10,000. When the hammer fell there were 45 bids.
The winning bidders were a family of four who had recently returned from living in Byron Bay. While their daughter is enrolled at a local school, they said they have barely had time to settle in since returning to Sydney a month ago.
They plan to renovate the property, which has three bedrooms and the potential for a fourth bedroom or separate dining room. It still retains many of its original features, including decorative cornices, fireplaces, stained glass and a full-length recessed hallway mirror.
“We fell in love with it,” said one of the new owners, who grew up in Stanmore but did not give his name.
Ray White Touma Taylor sales agent Walter Burfitt-Williams said this was his team’s best auction this year. The property, which was offered for sale for the first time in 44 years, was sold as deceased property.
“[The owner] was a collector and was [initially] “It’s hard to evaluate because there was so much stuff,” he said, adding: “But it’s a gorgeous house.”
The property was one of 939 properties scheduled to go up for auction in Sydney this week.
In Potts Point, a first-home buyer from nearby Darlinghurst paid $925,000 for a one-bedroom flat in an art deco-style building.
Bidders gathered in the light-filled circle 4/113-115 Macleay Street To avoid the distraction of weekend markets, with bids starting at $750,000.
Bids rose rapidly, starting at $25,000, starting at $5,000, rising to $15,000 and then $10,000. The final bid of $20,000 won the keys.
The winning bidder was also a local first home buyer.
The property had a guide of $820,000 to $900,000 and a reserve of $900,000.
Properties priced under $1.5 million will attract interest, but some stand out more than others, said Nuri Shik, sales representative for BresicWhitney East.
“Anything with a bit of character, charm and style in a beautiful old building always has its takers.”
Further east, a waterfront condo in Darling Point sold for $5.2 million, $300,000 above reserve.
Winning bidders 4A/27 Sutherland Crescent They were locals planning to move into the spacious three-bedroom flat. The bidders were also locals looking for a new home.
The property, which overlooks Diendagulla Bay, Sydney Harbor and beyond, had an asking price of $4.9 million, the same as the reserve. While three bidders signed up, two were active; Bids were opening at $4.5 million and this increase continued in $50,000 increments.
Selling agent Michael Pallier of Sydney Sotheby’s International Realty said the property “meets a lot of needs” with its north-east aspect, communal swimming pool and access to a private jetty.
“It’s a waterfront location with a double-locked garage and level access by elevator,” he said. “The building recently had a major renovation. The fourth floor is also the best location; not too low or too high.”
The flat was a deceased estate that was offered for sale for the first time in 22 years. There is an en suite bathroom with Miele appliances, marble bathrooms with underfloor heating and a spa.
“This property is quality real estate and there are a lot of people looking to buy it,” Pallier said.
There was a battle of first home buyers in Caringbah in the south of the city, with a two-bedroom flat selling for $995,000. Eight bidders have registered, five of which are active.
A buyer’s representative opened the tender 6/1-5 Sunnyside Boulevard initially at $922,000 in $10,000 increments, then pulled back to bids of $1,000. Five minutes later the auction ended. The property had a guide of $890,000 and a reserve of $950,000.
The winning bidders were a couple from Perth who moved to Sydney for work. The buyer’s agent’s clients, also first-home buyers, were the low bidders.
Properties in the $850,000 to $950,000 price range are currently in high demand, especially if they’re move-in ready, said Luke Lombardi, sales representative with Pulse Property Agents.
“Floor plan [in this apartment] “It really worked because it was nice and clear,” he said. “Buyers don’t want anything that requires labor. “They want to move in and enjoy it right away.”
Robyn Willis is a property journalist and former lifestyle editor of The Sydney Morning Herald and The Age.
