Bronte, Dalinghurst, Concord, North Sydney

The timing of the auction forced high-stakes bidding.

“People think prices might go up next year, so it’s a whirlwind,” Gorrie said. “There’s not a lot of stock on the market right now.”

Ownership of an art deco flat in Darlinghurst passed from one first home buyer to another after a generation and sold for $727,000. It slightly exceeded the $725,000 reserve.

Five first home buyers have signed up to bid 15/44 Hardie Street, and three joined.

The seller had bought the flat 40 years ago and it was his first home. Agent Dalton Stewart, of Ray White Touma Taylor, said he was “delighted” to sell the house to a first home buyer.

The auction was held on the rooftop with shared city views. “People really fell in love with it,” he said.

Bidding for the one-bedroom, one-bathroom space opened at the $650,000 guide, with two bidders occasionally placing bids of $10,000, $5,000 and $3,000. The third entered the competition late.

There is no legal requirement for a seller’s reserve to match the property’s price guide.

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The top-floor flat of a neat brick block, sleeping 16, reflected period character in a lively location, at a price that would appeal to debut buyers.

“I would call it the perfect Darlo field,” Stewart said.

In Concord, a property sold for the first time since it was built in 1920, selling for $3,850,000 against a reserve of $3.6 million.

vintage 27 Flavelle Street This figure, which was initially targeted at $3.3 million, increased to $3.6 million as interest increased during the auction week.

Six lots registered for the auction and four participated, and the starting price was $3.15 million. Auctioneer Edward Riley offered 43 bids at the height of the battle, in increments of $100,000 and $50,000.

Agent Dib Chidiac of DibChidiac & Co. said the approximately 700 square meter block is ideal for duplex development and was designed for it.

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A family has purchased it and will live in one of the townhouses they have developed. “It was an incredible parcel of land,” Chidiac said.

Riley said buyer demand is buoyant.

“While there is a lot of talk about economic volatility, the Concord market remains resilient,” he said.

A middle-aged couple in North Sydney bought a $2.2 million northeast-facing Victorian home.

Three-bedroom brick terrace 37 Neutral Street – the inline four – attracted two bidders from the four who registered. The house, which was sold for $2.25 million, was sold for the same price as its reserve, after the agents took decisive action.

Bidding started at $2 million and increased in units of $20,000 and $25,000.

They acted so quickly that to secure the sale, they adjusted the original $2.3 million reserve to $2.2 million at auction, leaving the hammer to the husband and wife who live in Willoughby. They left behind a young couple from Woolloomooloo.

Agent Jesse Zammit of DiJones Neutral Bay said the property’s well-lit interior and proximity to the new subway line, parks and cafes were appealing.

“In some areas the terraces can be dark, but this one is beautiful and bright and in an elevated position where light fills the north-east side.”