By Kristy Johnson
A young family from Killara paid $6.55 million at auction on Saturday for a two-storey contemporary home in Roseville with an entertainer’s deck and pool.
The five-bedroom property at 15 The Grove was guided at $5.9 million and the reserve was set at $6.5 million. Records show the property last sold for $1,940,000 in 2006.
There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.
There were four registered bidders and three took part. Bidding opened at the $5.9 million guide and rose in varying increments.
The property was one of 1326 scheduled to go to auction in Sydney this week. By evening, Domain Group recorded a preliminary auction clearance rate of 69 per cent from 804 reported results throughout the week, while 170 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
The buyers told this masthead that they were upsizing from Killara and wanted more space for their young children. They outbid a woman upsizing from Lindfield and another local family.
The vendors are downsizing after living at the property with their children for 18 years.
A young family from Killara paid $6.55 million at auction on Saturday for a Roseville home.Credit: Jessica Hromas
Ray White Upper North Shore’s Jessica Cao said she’s noticed an uptick in buyer inquiry after two interest rate cuts.
“We are absolutely seeing more registered bidders at auction. With this property, Roseville is a very desirable suburb with a village feel and has great access to Chatswood and the city,” she said.
Roseville’s median house price rose 6 per cent to $3,981,000 in the year to March on Domain data.
In Epping, a family from Zetland paid $3,101,000 at auction for a brick home with a covered alfresco entertaining area and pool. There was a crowd of about 100.
The four-bedroom property at 46 Dawson Street had a guide of $2.5 million to $2.75 million and the reserve was set at $2.7 million.
There were 15 registered bidders and six took part. Bidding opened at $2.4 million and rose in varying increments.
The buyers are moving from an apartment to their first home and were drawn to the property due to its school catchment zone. They outbid developers and families from Epping, Lane Cove, Auburn and Eastwood, who either saw knockdown-rebuild potential or would make minor renovations.
McGrath Epping’s David Middleton said the timing of the last interest rate cut certainly assisted in more buyer inquiry, but A-grade properties always sell well.
Epping’s median house price rose 5.6 per cent to $2.51 million in the year to March on Domain data.
In Hunters Hill, a family from the inner west paid $6.89 million at auction for an “untouched” home, $2.09 million over the reserve.
The three-bedroom property at 19 Gale Street was guided at $4.5 million, and the reserve was set at $4.8 million.
There were four registered bidders and three took part. Bidding opened at the $4.5 million guide and rose in varying increments.
BresicWhitney Hunters Hill’s Nicole Robertson said the buyers will do “a lot of work” on the home. They outbid two other families and a local investor.
A family paid $6.89 million at auction on Saturday for an “untouched” house in Hunters Hill.Credit: Domain
The property is described on the listing as an “untouched house” at a prestigious address. It was offered for the first time in 64 years.
“It’s a unique property,” Robertson said. “Homes like this don’t come up often, so that created excitement.”
Hunters Hill’s median house price rose 8.6 per cent to $4.4 million in the year to March on Domain data.
In Glebe, a first home buyer paid $1,815,000 at auction for a contemporary townhouse “in one of the best streets” in the suburb.
The two-storey, two-bedroom property at 12A Lombard Close is described on the listing as having a “house-like feel”. There are concrete floors and a rooftop terrace.
The initial guide of $1.5 million was increased to $1.7 million due to strong interest. Ray White Surry Hills’ Matthew Carvalho declined to reveal the reserve but said it was “in line with the guide”.
There were five registered bidders and four took part. Bidding opened at $1.4 million and rose in varying increments.
The buyer was renting locally and outbid an interstate buyer, other first home buyers, couples and investors from the inner west and inner city.
Carvalho said the property is in “one of the best streets in Glebe” and while it’s strata-titled, it’s only one of two properties in the complex. There are no quarterly levies, only shared building insurance.
“It appealed to a house-type buyer without the house price,” Carvalho said. Glebe’s median house price rose 14.7 per cent to $2.38 million in the year to March on Domain data.
Carvalho has noticed an uptick in registered bidders at auction following two interest rate cuts.