Super Saturday brings lifestyle to the fore in South Cronulla and Rushcutters Bay
A Caringbah family with dreams of living closer to the beach paid $4.3 million for a house in Cronulla on Saturday.
Bids were made for the two-storey, five-bedroom residence, with the auctioneer bidding at $4 million. 1 Iluka Place It opened at $3.95 million, then rose in $10,000 and $5,000 increments.
The property had a guide of $4.1 million to $4.5 million and a reserve of $4.3 million.
The Property Group representative Ian Gray said the asking price was based on the understanding that the property needed improvement. It was first built in the 1960s and last renovated in the 90s.
The house on the 916 square meter block had a pool and well-kept gardens. It was marketed as having a “fresh Hamptons aesthetic”.
It was among 1494 auctions scheduled for property sales on Super Saturday in Sydney, a week before the Easter long weekend.
All three registered parties bid at the auction, hoping to purchase their own property before it sold. These were all also local families seeking the lifestyle advantages offered by its location on the South Cronulla peninsula.
Gray said recent uncertainty in the market had led the bidder to withdraw.
“The bidder said that due to the way the market is selling, he would have to sell [his own property] later and its location was potentially falling [in value].
“Buyers are now speculating about what to buy for their own home.”
Lifestyle was also high on the agenda as four out of five registered parties at Rushcutters Bay battled for a two-bedroom, 51 square meter flat with balcony in an art deco-style building. It sold for $1,167,000.
Bidding date 16/67 Bayswater Road It opened at $1,017,000 and rose in increments of $2000 and $1000 before a buyers agent acting on behalf of a local first home buyer sealed the deal after 28 offers. The winner of the bid was a first home buyer with pets.
The deceased estate had alimony of $1 million and reserves of $1.1 million.
There is no legal requirement for a seller’s reserve to match the property’s price guide.
BresicWhitney representative Nuri Shik said that the appearance, location and aesthetics of the apartment attracted buyers.
“Any property that meets expectations with high ceilings, wooden floors, character and a sunny balcony – [will do well].”
Robyn Willis is a property journalist and former lifestyle editor of The Sydney Morning Herald and The Age.
