Real estate Sydney: latest auction results, records smashes as market bounces back

The spring selling season has finally arrived, late but with plenty of steam, as records were smashed and the market bounced back - at least for now.

Action at 25/40 Maria St, Petersham. The Apartment with expansive views sold for 1,610,000 dollars. Auctioneer Clarence White sold the property 350,000 dollars over the reserve of 1,260,000 dollars. Picture: David Swift.

It’s been a dramatic day of auctions across Sydney, as the spring selling season finally arrived, late but with plenty of steam.

Auctions were packed, records were set, as the market bounced back strongly, at least for now.

Welcome to The Daily Telegraph’s property auction coverage.

In the wake of yet another interest rate rise from the Reserve Bank, it is always interesting to see how the market reacts – will auction sales falter as owners withdraw their sales to chase a higher price, or will buyers snatch up the available stock before it’s too late?

One thing is certain: sellers are being forced to adapt after several months of price falls, while buyers are taking advantage of the less competitive conditions compared to Spring last year.

Agents are receiving mixed messages from bidders, with some properties drawing crowds, while others are passing in.

You can catch up on some of the biggest results below or watch the replays. There’s also an auction wrap-up here.

Updates

3:03 pm November 5, 2022 Highlight

Lane Cove house sale matches suburb record

Samuel Murden

Lane Cove's suburb record has been matched in an auction this weekend, where a five bedroom and three bathroom home sold for $4.4m.

There were seven registered bidders for the sale of 9 Garling St, Lane Cove that saw the opening bid at auction begin at $3.8m.

Listed via Belle Property's Tim Holgate, the property presented an idyllic family retreat on a north to rear 696sqm parcel.

The successful bidder was a family buyer looking to upsize, who competed with locals who wanted to upgrate their home.

"Buyers are using turn-key properties like this one to their benefit," Mr Holgate said.

"There's real value in the market for homes that are well-presented and ready to enjoy now."

Set on a quiet tree-lined street, this home is close to Lane Cove Plaza and The Canopy, quality schools, parks and public transport.

9 Garling St, Lane Cove sold for $3.8m

2:47 pm November 5, 2022 Highlight

Reserve prices tumble in South Sydney sale

Samuel Murden

A five bedroom, three bathroom property in Sydney's south has surprised buyers and vendors by selling at auction over $570,000 above the reserve price.

The home at 13 Leavesden Place, Sylvania enticed buyers with its panoramic water views and is configured for large families with all five bedrooms on one level.

Auctioned via Avenue Auctions' Andrew Cooley, the auction saw five active bidders placing 13 bids on the property.

The successful buyers pid $3.57m for the property, with Mr Cooley explaining the young couple had been wanting to get in on the rare street for some time.

"This weekend we've had about six or seven booked auctions all resulting in sales," Mr Cooley said.

"Buyers are aware of the risk of purchasing a home in this market, but there's a sense of urgency there. From the sellers perspective, only genuine offers are being accepted."

13 Leavesden Pl, Sylvania sold for $3.57m.

2:16 pm November 5, 2022 Highlight

Massive $20m sale for lower North Shore home

Samuel Murden

Receiving an opening bid of $18m, this home on Sydney's lower North Shore has taken out the title of largest sale at auction over the weekend.

Situated at 3 Mayfield Ave in Woolwich, the five bedroom and five bathroom reinvented home boasts Harbour Bridge and city views from almost every room.

The 45-minute auction saw a family from the city foreshores making the successful purchase for the property, they had been looking for a year.

Listed via McGrath agent Tracey Dixon and auctioned off by John McGrath, the sale is believed to be the highest priced property sold under the hammer on the Woolwich/Hunters Hill peninsula.

The lower North Shore home sold for $20m at auction over the weekend.

1:02 pm November 5, 2022

Regional suburbs record strong sales

Samuel Murden

There've been some strong sales in the broader regional areas of NSW worth noting for today's auction coverage:

Situated in the suburban streets of Wollongong, the four bedroom and three bathroom duplex of 36A Urunga Parade sold at auction for $1.415m.

MMJ North agent Sam Vescio had the listed, and said the property was a "sleek and comtemporary gem that doesn't compromise on style."

"The buyers and bidders fell in love with the design and the quality of this four-bedroom duplex."

Elsewhere a run-down home has been snatched up at auction, with 465 Beauchamp Rd Maroubra selling for $103,000 above the reserve price.

The auction saw seven registered bidders, with five actively bidding – many seeing the home as an affordable opportunity for young families and local builders.

Ray White Park Coast Director Belinda Clemesha said the opening bid started at $1.3m with a large crowd gathering to watch the home sell for the first time in 43 years.

"Auctioneer Adrian Bo took the opening bid of $1.3m and it quickly increased to $1.4m, $1.45m with more than 30 bids taking it above reserve to the final selling price, Ms Clemesha said.

"A young family were the successful purchasers."

465 Beauchamp Rd, Maroubra sold for $1.703m

12:41 pm November 5, 2022 Highlight

Designer's Inner West pad enjoys $2.325m result

Samuel Murden

A three-bedroom and two bathroom property owned by one of Sydney’s leading interior designers has sold in front of a sizeable crowd as it sold $300,000 above its reserve price.

The luxury architecturally-designed home at 48 Linthorpe St, Newtown was considered a sanctuary that spreads over two floors to maximise family liveability.

Initially listed by Adrian William's Adrian Tsavalas for $1.8, the Inner West address had its price raised in line with buyer feedback.

The three-bedroom and two home saw over 140 groups walking through, with four registered bidders and three actively bidding.

Mr Tsavalas said the auction had received a positive response from local home owners who visited the home as it sold.

"I think there's a greater appetitie for property now than there was in the middle of the year," Ms Tsavalas said.

"Some buyers are reconsidering the location of their purchase, but overall I believe its a healthy and balanced market."

"The trend this year has been that renovated houses still sell for premium prices. This property is a perfect example of that."

48 Linthorpe St, Newtown sold for $2.325m

12:06 pm November 5, 2022 Highlight

Christmas period "a do-by date"

Samuel Murden

Some of this morning's auctions appear to be showing a trend of buyers wanting to settle into a new property before solicitors go on holidays and the market generally slows down.

Two auction sales come to mind that follow this trend; 228a Attunga Rd in Yowie Bay and 34 Boundary Rd in North Epping.

Yowie Bay, situated in Sydney's south, saw a four bedroom and two bathroom home with views over the water selling for $2.83m.

Alex Pitsis from APG Ray White Cronulla had the listing, which had a range of luxury amenities including an in-ground swimming pool, spa, ensuite, and walk-in wardrobe.

It was a packed house auction, with three registered bidders all bidding for the prestigious location.

Meanwhile a five bedroom and three bathroom home at 34 Boundary Rd, North Epping sold for over $300,000 above reserve.

Hitting the market through The Agency's Catherine Murphy, the architectural masterpiece had received higher activity than expected prior to selling at auction.

The auction itself saw five registered bidders, with four actively bidding.

"I think buyers are seeing Christmas as a 'do-by' date. They want to secure a property before the holiday break and have their affairs in place while the market still caters to them," Ms Murphy said.

"The home presented a wonderful opportunity in a location of timeless appeal."

228a Attunga Rd, Yowie Bay sold for $2.83m

11:35 am November 5, 2022 Highlight

West Ryde villa with no Strata fees sells for $1.5m

Samuel Murden

A three-bedroom villa situated in a boutique complex has broken its reserve price with buyers now mostly prepped for future rate rises.

The three bedroom, two bathroom duplex at 1/100 Parkes St, West Ryde was listed via Stone real estate's Jerry Dionisatos to appeal to families, downsizers and investors.

Cooley auctioneer Michaeal Garofolo helped conduct the auction, with saw 12 bidders, six actively bidding and 41 total bids for the property.

Mr Garofolo said the bidding started at $1.1m and then eventually sold to a middle-aged buyer for $1.49m.

"I think buyers are now expecting rate rises and are preparing themselves for whatever might come next," Mr Garofolo said.

"We're still seeing a wide range of diverse buyers from various demographic backgrounds, many of which have made the calculations and want to move in by Christmas."

The auction was the first time the duplex had been available on the market.

1/100 Parkes St, West Ryde sold for $1.49m

11:12 am November 5, 2022 Highlight

St Ives home sells $160K over reserve

Samuel Murden

Ray White North Shore agent Domenic Maxwell managed to sell all three of his properties at auction this morning, with 5/165-167 Rosedale Rd in St Ives being the highlight of his day.

The property sold under the hammer for $1,166,500 – $166,000 over the $1m reserve price.

The auction saw eight registered bidders, with four actively bidding. The opening bid was $850,000 for the two bedroom house, and eventually broke the reserve as 92 bids total were placed.

"It got down to $150 bids and $200 bids as two local buyers fought it out. The winning bidder was someone who had downsized and was renting in the same apartment block and she loved this ground floor unit," Mr Maxwell said.

Other notable sales both occurred in Pymble this morning with 1/1026-1028 Pacific Highway selling for $1.193m (smashing the $950,000 reserve) and 819/9 Avon Rd Pymble for $850,000.

“There is some confident bidding and buying again in the market and people are more responsive and comfortable to transact. People know there’s not a lot of stock which is keeping prices up. And good properties are continuing to sell well.,” Mr Maxwell said.

5/165 – 167 Rose Rd sold $166,000 above reserve.

10:34 am November 5, 2022

Dural home passed in vendor bid after online bidding war

Samuel Murden

A four-bedroom, three bathroom family home passed in a vendor bid after an intense bidding war between two buyers.

The private blue-chip location at 23 Cotsworld, Dural is positioned at the end of a quiet cul-de-sac and offered a lifestyle property on a 2.31 hectare acreage.

Lumby Hampson's Will Hampson had the listing and conducted the auction, with bidders going back and forth to claim the property.

The online auction saw bidding starting at $2.2m before jumping up by $50,000 increments to $2.42m.

From there the two bidders went back and forth increasing it by smaller $5,000 and $10,000 bids.

After 22 bids were placed on the property, the vendor placed a bid at $2.7m. The home was subsequently passed in.

Despite recent strong sales in the area, median house prices in Dural have slightly faltered in the past 12 months, with the current home selling for $2.227m

23 Cotsworld, Dural NSW

9:37 am November 5, 2022 Highlight

Stanmore home stuns at auction

Samuel Murden

11 Douglas St, Stanmore sold for $2,035,000

It was predicted to be a strong result, and 11 Douglas St in Stanmore didn't disappoint.

The three bedroom and two bathroom property was the first off-the-block for today's auction results, with the Inner West home selling under the hammer for $2,035,000.

Ray White agent Ercan Ersan said the seller is planning to downsize to a unit closer to the city.

"The property is in a tightly-held pocket of Stanmore, buyers were attracted to its style and convenience."

"It appealed to growing families and couples desiring a property with flexible living and working spaces."