Sydney auctions: Bondi house with tiny yard, no parking sells for $4.3m
A house on an unusual triangular block with no parking and little backyard was among the properties to get a crazy result on what was otherwise a more subdued week for sales.
A Bondi house on an unusual triangular-shaped block with no parking and little backyard has sold at auction for $4.3m – $300,000 over the reserve.
Four bidders registered for the auction with agents Ron Bauer and Madison Ward of Ray White Bondi Beach.
Mr Bauer said the property was popular because it was seen as a more affordable entry point into the popular area.
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He added that it was a huge result given the lack of parking was a deal-breaker for many.
The triangular shape of the Imperial St property – due to its location on a corner – meant there was a lot less usable backyard than surrounding homes.
“A house in the area on a conventional block would probably get about $5m,” Mr Bauer said.
The home was among a handful of properties to get large results at auction on what was a more subdued week for activity due to the long weekend.
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On the north shore, a family selling a three-bedroom house on a 265sq m block in Chatswood – considered tiny for the area – was left gobsmacked at auction after the property was snapped up for about $300,000 above expectation.
The house was designed by a family member, an architect, in 1974. The vendors issued selling agent Jessica Cao of Ray White Upper North a reserve of $1.7m, with the Fairyland Ave home selling under the hammer on Saturday for $2.02m.
“This was an unusual sale because properties in the area are usually around 1000sq m with four to five bedrooms,” Ms Cao said.
“This result just goes to show there is a shortage of affordable properties in the area.”
A local family was successful at the auction which attracted 17 registered bidders. They pipped the underbidder’s highest offer with a final bid only $2000 higher.
“The vendors never expected their property to be so popular, but what we’re finding is that the most affordable properties are attracting a lot of interest,” Ms Cao said.
Further south on the lower north shore, a luxury waterfront home that was bought for $8.15m in 2021 sold for a price nearly $4m more.
The five-bedroom house on Huntleys Point Rd, Huntleys Point, changed hands just prior to auction for about $12m.
The three-level house – built in the 1970s – is on a 1349sq m block with panoramic views of Sydney Harbour. It includes a private jetty, a swimming pool and DA-approved plans for a dual-occupancy development.
Selling agent Steven Chen of The Agency-Eastern Suburbs revealed in the listing that the property had one of the largest harbour frontages in the area.
In the south, a downsizer beat five other bidders for a villa just footsteps from Monterey Beach.
The two-bedroom home on Solander St went to auction with a $1.15m guide through Belle Property agent Rod Mumford but sold under the hammer for just shy of $1.3m.
Auctioneer Andrew Cooley of Avenue Auctions said the location was a big factor in the higher-than-expected result.
The seller bought the property in 2021 for $1.05m.
Originally published as Sydney auctions: Bondi house with tiny yard, no parking sells for $4.3m