Anna’s secret weapon helps her nab $1.4m first home

Anna Yang called in the big guns to help her nab a $1.4m first home at this morning’s auction as more than 1000 homes went under the hammer.

Anna Yang and partner Andy Lam with Anna’s mum Kathy Fu celebrate after winning 86 Isabella st, North Parramatta at auction. Picture Thomas Lisson

Anna Yang called in the big guns to help her nab her first home that sold for close to $1.4m at auction this morning as more than 1000 homes were scheduled for auction around Sydney.

Clutching the “lucky” number 5 bidding card, Anna’s mum, Kathy Fu, helped the 28-year-old regulatory affairs specialist in a medical device company secure a recently renovated four-bedroom Torrens Title Duplex, built in 1990, at 86 Isabella St, North Parramatta.

She and partner Andy Lam currently rent in Carlingford.

Vendors Edward and Hanna Felix were happy, too, with the result defying the slowing market conditions — the $1,382,000 sale price beat the reserve by $102,000!

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The McGrath agents had six registered parties at the hot auction in North Parramatta. Picture Thomas Lisson

Buyers loved that the duplex was Torrens Title — a four-bedroom home with no strata fees.

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Records show they’d bought it for $568k more than 11 years ago.

The McGrath sales agents Jen Anderson and Kim McChlery, who had a $1.15m guide, and auctioneer Paul Hancock had six registered parties, mainly first home buyers though the underbidders were investors.

From the $1.15m opening offer, the $20k bids were flying between four of the six.

There were a total of 29 bids.

But by the end it was down to $1000s and $2000s, with the young first-timers eventually securing the keys in a nail-biting finish — the investor underbidders made a last-minute phone call to relatives who said to ‘let them have it’!

The newly renovated kitchen would made the property particularly attractive.

The vendors, Edward and Hanna Felix, were overjoyed with the result. Picture: Thomas Lisson

The lead agent, Jen Anderson, said the $1.15m price guide for a four-bedroom Torrens Title home (no strata fees!) in a top location made the property popular in the market.

“North Parramatta is still selling very well, but it does depend on the property,” she said.

“This was a very exciting auction — it just flew!

“But it is a great location, close to all the amenities, and being Torrens Title, it’s like buying a house!”

PropTrack puts the median house price in North Parramatta at $1.65m, up 12.3 per cent over the year. The median unit price is $620k, up 0.5 per cent over the year.

Another hot auction was a burnt-out house at 33 Crossland St, Merrylands that sold for $1,385,000.

33 Crossland St, Merrylands sold for $1,385,000.

Developers were keen on the block, intending to build either a house or a duplex.

LJ Hooker Greystanes agent Karen Beebar had seven register, with four active. “We set a high reserve of $1.355m but the vendors would have been happy with anything over $1.3m,” Beebar said.

“Everyone’s talking about a cooling market, but not so much in this location.”

All of those interested were developers keen on the 784sqm block. “The buyers are tossing up between building a new house or a duplex,” she said.

It’s understood there had been two fires at the property, one caused by a copper pipe explosion and the second by squatters.

The Merrylands median house price is $1,286,000, up 16.4 per cent over the year according to PropTrack. The median apartment price is $481,425, up 1.4 per cent.

The five-bedroom home at 4 Peke Place, Rooty Hill sold for $1,175,000, which was $125,000 above reserve.

It was the large 866sqm block that appealed to buyers.

Meanwhile, a five-bedroom home on a 866sqm block with a guide of $1.05m at 4 Peke Place, Rooty Hill sold for $1,175,000, which was $125,000 above reserve.

Ray White Diamantidis Group’s Meshel Bahnam, with auctioneer Bryce Bevin, had three register and two active.

“The buyer was an investor/renovator who was going to do some work to it and rent it out for a while, then eventually resell,” Bahnam said.

“They were interested in the pocket, the size of the land and renovation potential.

“It had good structure, good bones, but it needs a bit of work.

“The seller has been there since 1994 and is downsizing in the local area.”

PropTrack puts the median house price in Rooty Hill at $930,000, up 6.6 per cent over the year. The median apartment price is $757,500, up 9.8 per cent over the year.

42 Frederick St, Concord sold for $2,910,000, $10k above the reserve.

The developer buyers will rent the home out for a few years, and then build a duplex on the site that has rear-lane access.

And at Concord in the inner west, 10km from Dulwich Hill where PM Anthony Albanese pulled his $1.85m investment property from auction, a three-bedroom home on a 486sqm block at 42 Frederick St, Concord sold for $2.9m, $10k above the reserve.

Sales agent Ben Horwood of Horwood Nolan had five parties register with four active.

Bidding opened at $2.7m and rose in $50k increments, then 25ks and down to 10ks and 5ks.

“The buyers were local developers who will rent it out for a few years and then build duplexes,” Horwood said.

“It’s a good location, right in the middle of Concord with rear lane access.”

The underbidder was also a developer, with the two family buyers “blown out of the water” by the developers.

Horwood said while “everything’s still selling”, buyers had become “more cautious”.

“In my opinion, it’s very good buying at the moment, but it will be short-lived — it will all change when the interest rate cut comes, whether it be Cup Day or in February.

“Now’s the time to buy!”

In the inner-city, a two-bedroom, two-bathroom apartment with parking in the Allen Jack + Cottier-designed block Sonoma at E203/3 Hunter St, Waterloo sold for $1.14m , $90k above the reserve.

BresicWhitney agents Darren Davis and Patrick O’Brien had three register and, with BresicWhitney CEO and chief auctioneer Thomas McGlynn presiding, bidding opened at $900k and rose in $25k increments to $1.05m and then it was down to $5k and $10k bids.

“It was a young couple who bought it and it was perfect for them as she works for Qantas at the airport and he works in the city,” Davis said.

The young first home buyer couple who were the underbidders missed out by $10k and the other active bidder was a lady downsizer.

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Originally published as Anna’s secret weapon helps her nab $1.4m first home