Sydney auctions draw up to 33 bidders as Australians vote on Voice to parliament
A crowd of 100 people, including 33 bidders, swarmed the auction of a tired Western Sydney home, resulting in a huge price on what’s been a bumper day for sales.
As Australians headed to the polls to cast their votes in the Voice referendum, many still found the time to cast their bids at auctions as the spring selling season got underway.
October is proving a busy month for auctions, with 748 auctions across Sydney this week, up 27 per cent from the same week last year.
The auction for a Seven Hills home with a crumbling bathroom and lifting floorboards drew a huge crowd of 100 people, including 33 bidders. It sold under the hammer for $1.032m.
“The owners were ecstatic,” said listing agent Alistair Agius from Agius Property Group. “It was very emotional for the vendor who grew up in the family home.”
There was crying and hugging, with the seller heard yelling “it’s going to be a good Christmas” when the hammer fell $232,000 over reserve.
MORE: Spring selling season arrives with listings spike
Mr Agius was initially surprised at the mass interest for the property considering its condition.
“It’s about the land value and location,” he said.
The Elbe St auction attracted 33 registered bidders with seven participating in proceedings.
“I’ve not seen that many registered bidders since dare I say pre covid times,” said auctioneer Michael Garofolo of Cooley Auctions.
The opening bid equalled the $800,000 reserve. Mr Garofolo said bidding for the 550sq m property was fast and strong and only slowed by the $1m mark. The underbidder dropped out at the auction at $1.031m, $1000 below the final bid.
In the inner west, there was a strong auction for a four-bedroom townhouse in Marrickville. Eight bidders registered and the house sold under the hammer to a local family for $3.225m - $125,000 over reserve.
Listing agents Alex Mastoris and David Carrozza from Cobden and Hayson Annandale said the sellers were “over the moon”. The Charles St property has dual access, a double garage and pool.
Marrickville’s median house price currently stands at $1.89m, according to PropTrack data.
In the south of the city, a three-bedroom villa in Dolls Point that was up for sale for the first time since it was built in 1973 changed hands at auction for nearly $1.3m.
The property on Russell Ave had been popular in the lead up to Saturday’s auction, with more than 80 groups inspecting it over a four-week campaign.
Three buyers registered to bid with selling agents Jon Brookes and Glenn Rosier of Brookes Partners.
The final bid, placed by an investor, was $1.295m - $115,000 over the vendor’s reserve.
Auctioneer Andrew Cooley, the director of Avenue Auctions, said the market in Sydney’s south had picked up “considerably” in recent months.
“In the south there is still a shortage of property on the market. It’s starting to pick up a bit, but it’s still very low, and we are getting a lot of demand from out of area buyers,” he said.
Over in the eastern suburbs, a two-bedroom Bondi Junction home sold for $2.205m after drawing an opening bid of $1.8m.
“There’s not a lot of options in the eastern suburbs at the moment,” said listing agent Ted Pye of Belle Property Surry Hills.
The home at 82 Newland St sold to downsizers and featured a parking space which Mr Pye said was rare in the area.
A popular two-bedroom apartment in nearby Randwick sold for $1.37m at auction to a buyer who only first inspected it minutes before bidding kicked off.
The buyer registered to bid midway through the auction, competing with 10 other registered bidders.
The property on Botany St had last sold in 2019 for $1.123m, sales records showed. It was listed in September with Ray White Touma Group agent Roger Wardy with a $1.05m price guide.
“This is a coveted lifestyle address, and the property was very popular with buyers,” Mr Wardy said.
The eastern suburbs continue to be a tightly held market, with Maroubra and Randwick having the biggest decrease in new listings across Sydney last month.
In the northwest, a home seller in West Pymble offloaded their five-bedroom house for nearly three times the price they paid for it back in 2013.
The property on cul-de-sac Tristania Pl sold under the hammer on Saturday for $3.4m, pipping the $3.3m reserve by $100,000.
Sales records showed the 966sq m property had last sold 10 years ago for $1.145m and was given cosmetic enhancements.
Nine keen buyers registered to bid and seven made offers. Selling agent Thomas Merriman of Ray White Upper North Shore said the midweek inspections were busy.
“The auction was all over in seven minutes as we had seven very determined and active bidders,” he said. “There are still a lot of buyers around, and lots of busy opens today.”
Originally published as Sydney auctions draw up to 33 bidders as Australians vote on Voice to parliament