By Kristy Johnson
An owner-occupier from Chatswood paid $815,000 at auction on Saturday for an apartment in Wollstonecraft with Harbour Bridge views.
The one-bedroom unit at 10/19 Shirley Road was guided at $720,000 and its reserve was set at $730,000. There is a renovated kitchen and parquetry floors.
There were 12 registered and three active bidders. Bidding was fast-paced, starting at $700,000 and rising in varying increments.
The property was one of 1560 scheduled to go to auction in Sydney this week. By evening, Domain Group recorded a preliminary auction clearance rate of 63.5 per cent from 970 reported results throughout the week, while 245 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
The buyer had been searching for a property for some time and outbid first home buyers from Hornsby and the Hills District.
An owner-occupier from Chatswood paid $815,000 at auction on Saturday for a unit in this block in Wollstonecraft. Credit: Steven Siewert
There was no sales history online. The vendor inherited the property and lives on the northern beaches.
Richardson & Wrench North Sydney’s Victoria Liu said the appeal was down to the location, views and limited supply.
The buyer outbid first home buyers from Hornsby and the Hills District.
“There are no new listings as we head towards Easter. I auctioned another unit in the building last year with four registered. This one we had 12, so the numbers increased due to supply and demand.”
Auctioneer Edward Riley said the strong turnout showed serious buyers remained active.
“When a property is well-presented, priced right and supported by a strong marketing strategy, it will always draw solid interest regardless of market conditions,” he said.
A buyer paid $815,000 at auction on Saturday for a Wollstonecraft apartment with Harbour Bridge views.Credit: Steven Siewert
Wollstonecraft’s unit median rose 9.7 per cent to $1,295,000 in the year to December on Domain data.
In The Ponds, a family who were upsizing in the suburb paid $1,951,000 for a five-bedroom home.
The property at 22 Paringa Drive had no guide; the reserve was $1.85 million. There is a bedroom and bathroom on the lower level for multi-generational living.
There were six registered and four active bidders. Bidding started at $1.7 million and rose in mainly $10,000 bids.
The buyers had been searching for a home in the suburb for at least six months and outbid other local families. However, First National Hills District’s Eddie Quispe said interest had been from all over Sydney during the campaign.
Records show the property last sold for $928,000 in 2014. It was an investment for the vendor.
Cooley auctioneer Michael Garofolo noticed a sense of urgency with buyers wanting to purchase ahead of Easter, Anzac Day and the school holidays.
Cooley auctioneer Michael Garofolo noticed a sense of urgency with buyers wanting to purchase ahead of Easter.
“A-grade properties will sell regardless of the market. Quality homes will sell on Christmas Day.”
The Ponds’ median house price rose 9.1 per cent to $1.62 million in the year to December on Domain data.
In Paddington, a first home buyer couple from the east paid $2.04 million for a cottage in a post-auction negotiation.
The two-bedroom property at 2 Alexander Street was guided at $2 million; the reserve was $2.2 million. Interiors feature timber floors, a study and a reading nook in one of the bedrooms.
There were two registered bidders, but the couple were the only ones to make an offer, with $1.9 million. The home passed in and sold soon afterwards.
McGrath Paddington’s Georgia Cleary said the vendor would be “happy with anything over $2 million” after it passed in.
The buyers had moved back in with their parents to save for a deposit. The other registered bidder was a first home buyer from Paddington.
Records show the deceased estate last sold for $270,000 in 1989.
Cleary plans to launch new listings after the election. “In my opinion, there will be quite a pause for the next three weeks because of Easter, Anzac Day, school holidays and the election,” she said.
Paddington’s median house price rose 3.8 per cent to $3,285,000 in the year to December on Domain data.
In Chatswood, there was an impressive turnout for a home that sold for $3,267,000 to a family from Artarmon.
The five-bedroom property at 13 Beaconsfield Road was guided at $2.6 million; the reserve was $2.75 million. It features art deco curves and a retro bathroom.
There were 14 registered bidders and eight of them took part. The buyers, a young family who will live in the property with grandparents, outbid builders and families from the lower north shore.
The vendor will move into a retirement home in Willoughby.
Bidding opened at $2.5 million and rose in varying increments.
Belle Property Lane Cove’s Patrick Lang said the guide “was on the cheaper side” as the home needed work.
“The bathrooms and kitchen need to be done, but it’s very liveable,” he said. “There’s new carpet and paint. The price meant people were able to get into a blue-chip suburb.”
Lang said A-grade properties sell regardless of market conditions.