Two units in Darlinghurst and a house in East Killara
A young lawyer with a taste for inner-city life was the successful bidder at auction on Saturday, paying $877,000 for a one-bedroom flat in an art deco building in Darlinghurst.
51 square meter apartment 8/235 Darlinghurst Road The second sale was made in the building with a 66 m2 one-bedroom apartment. 9/235 Darlinghurst Road It went under the hammer earlier in the day for $1.2 million. Both homes were offered by the same seller as part of a deceased estate.
Ray White Touma Taylor sales representative Amber Riethmuller, who owns both listings, said some bidders have signed up for both properties. The smaller apartment (8/235) attracted seven registered bidders, five of which were active, and had a reserve of $750,000; this was the same as in the manual.
As of 9/235, all three registered bidders were active and the reserve was $950,000. The guide was $1 million.
There is no legal requirement for a seller’s reserve to match the property’s price guide.
“We ran [the auctions] “Although the successful bidders were separate buyers, several people signed up for both,” Riethmuller said. “It was a very competitive bid.”
Bidding for the 8/235 started at $780,000, with increments starting at $20,000, followed by bids of $10,000, and finally bids of $5,000. On 9/235, bids opened at $1.1 million, dropping in $25,000 increments to $10,000 and then to $5,000.
The winning bidders for the larger apartment (9/235) were a downsizing couple.
The properties in question were two of 979 properties scheduled to go up for auction in Sydney this week.
Riethmüller said it’s easy to see the appeal in terms of location, aesthetics and price.
“The market for properties under $1.5 million appears to be performing quite well, but above $2 million to $2.5 million there is buyer hesitation.”
A 1970s four-bedroom house in East Killara sold to a young couple for $2.67 million.
Four bidders signed up to bid on the home 5 Colette Placetwo are active. The property had a reserve of $2.55 million and a guide of $2.35 million. Tender was opened in the guide.
Ray White Upper North Shore agent Jessica Cao said the bidders, a young family, were “heartbroken.”
“ [winning bidders] “They live near Sydney Airport and love the peace, trees and streams of this area,” he said.
The sellers were downsizers who wanted to get closer to the city.
Robyn Willis is a property journalist and former lifestyle editor of The Sydney Morning Herald and The Age.
