Incredible auction sees Mosman home sell for $755k above reserve
With nine registered bidders battling for a home on Mosman’s prestigious Wolseley Rd, it is little wonder it not only sold, but smashed the price guide by an enormous amount.
An unrenovated Mosman home on Wolseley Rd has sold $755,000 above reserve after an epic auction.
There were nine registered bidders who placed 62 bids between them, before 58 Wolseley Rd sold for $4.555 million.
Most of the bidders on the day were downsizers or young couples.
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David Murphy Real Estate’s David Murphy said bidders were confident at the auction following the Federal election result.
“There has been a serious change in the climate since the election, with buyers having more confidence and certainty to buy,” he said.
“With the RBA talking about cuts and APRA easing restrictions, I think we are seeing the bottom of the market.”
Mr Murphy said a lack of stock in the $4 million-$5 million range also played a role in generating good interest in the four-bedroom home.
“It was a great opportunity to buy an unrenovated house among some of the best homes in Mosman,” he said.
The two-level home sits on a 454sqm block and has character features, including high ceilings and leadlight windows.
The upper floor has a main bedroom with study that has direct access to balcony with views of Middle Harbour.
It was one of 14 out of 16 properties to sell either at auction or before the day, delivering the lower north shore an 87.5 per cent clearance rate, according to CoreLogic data.
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Originally published as Incredible auction sees Mosman home sell for $755k above reserve