Sat. May 21st, 2022

An investor on Saturday outbid two first-home buyers for a dated house in Sydney’s south south, pushing the $ 500,000 price above the virtual auction reserve.

The Banksia property was one of 572 homes scheduled for auction in Sydney on the day.

In the evening, Domain Group recorded a preliminary clearance of 85.5 percent from 441 reported results, while 47 auctions were withdrawn. Revoked auctions are counted as unsold properties when calculating clearance.

6 Gibbes Street, Banksia NSW 2216

6 Gibbes Street, Banksia NSW 2216

3

Beds

2 Bade

Parking

The original three-bedroom, two-bathroom non-parking house on Gibbes Street 6 was on the market from the $ 950,000 opening bid — topping the $ 900,000 price guide and reserve. The 245-square-foot block sold for $ 1.4 million.

Bidding mostly rose to $ 25,000 and $ 50,000 jumps up to $ 1.3 million before sinking into smaller increases, with three of the nine registered bidders competing for the property, which had been in the possession of a family for more than 70 years. .

The buyer, who outbid two first-home buyers from the eastern suburbs and inner west, plans to renovate the property and rent it out.

Sales agent George Kambouroglou of Stone Real Estate Rockdale said it was an amazing result that had exceeded all expectations.

23 Grove Street, Lilyfield NSW 2040

23 Grove Street, Lilyfield NSW 2040

In the Inner West, another tight three-bedroom house sold for $ 2,517,000.

The home on 23 Grove Street, Lilyfield, drew an opening bid of $ 2.35 million. Four of the nine registered bidders competed and pushed the $ 317,000 price above the $ 2.2 million reserve price.

The 273-square-foot block was sold through Monique Dower, Belle Property Balmain, to a couple from the eastern suburbs. It was the last auction the couple had planned to attend before giving up their property search, after having been hunting without success for many months.

3/63 Queen Street, Ashfield NSW 2131

3/63 Queen Street, Ashfield NSW 2131

In Ashfield, a two-bedroom apartment with a studio on 3/63 Queen Street sold for $ 1,105,000 after more than 40 bids.

Bids began at $ 900,000, and while three of the five registered bidders participated, it was down to a two-person race as bids passed the $ 940,000 reserve.

The 72-square-foot apartment, in a block of four, was sold through Rhonda Yim, from Bresic Whitney Glebe, to a Summer Hill buyer who outbid two first-house buyers.

The sellers, who show that they bought the device for $ 705,000 in 2014, are moving abroad.

7/57 O'Brien Street, Bondi Beach NSW 2026

7/57 O’Brien Street, Bondi Beach NSW 2026

To the east, a three-bedroom apartment on 7/57 O’Brien Street, Bondi Beach, was sold for $ 2,010,000.

The 122-square-foot unit drew interest from 16 registered bidders, six of whom made bids, with bids opening at $ 1.7 million. More than 30 bids were placed, pushing the $ 230,000 price above the reserve.

The apartment was sold through Jamal Choker, from Ray White Maroubra. Records show that it last traded for $ 125,000 in 1986.

It has been a strong start to the spring sales season, despite lockdowns, with Sydney’s median auction house price rising to a record high of more than $ 2 million in September and the city records a monthly clearance of 78.1 percent – the highest rate for the month since 2013.

The strong results come as homebuyers face the prospect of being able to borrow less, with The Australian Prudential Regulation Authority (APRA) announces this week that banks should increase the interest rate buffer used to check whether borrowers could still afford repayments if interest rates rose.

In the northwest of the city, a Kenthurst home on more than two acres of land sold for $ 4 million – and $ 700,000 over the reservation.

52 Pitt Town Road, Kenthurst NSW 2156

52 Pitt Town Road, Kenthurst NSW 2156

Bids for the property at 52 Pitt Town Road opened for $ 2.9 million, with auctioneer Stu Benson of Benson Auctions taking nearly 50 bids before the hammer fell.

The property was purchased by a local developer from North Kellyville and sold through Scott Rance, from Rance Property.

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