Sat. Jan 22nd, 2022

“There’s a lot of fatigue out there at the moment. The common dialogue is that they’re done for the year. They’re taking a break. That was a concern.”

But the home was seen as the best house on the street that helped lead sellers and agents through the auction campaign.

The property was last traded for $ 2.9 million in 2004, records show the price has tripled in nearly two decades.

The happy buyers of 16 Bishops Avenue, Randwick, after submitting the winning bid.

The happy buyers of 16 Bishops Avenue, Randwick, after submitting the winning bid.Credit:Peter Rae

It broke the previous suburban record set in May, when 27 Bishops Avenue was sold for $ 8,525,000, records show.

Randwick’s median house price rose 20.2 percent to $ 3.1 million in the 12 months to September 2021 on domain data.

In Dural, a seven-acre two-bedroom house at 667 Old Northern Road was sold for $ 7.25 million, $ 750,000 over the reserve.

The $ 6.5 million opening bid was right at the minimum price, knocking most of the seven entrants out of the race.

Two buyers went head-to-head for the keys to 667 Old Northern Road, Dural, after the auction opened for $ 6.5 million.

Two buyers went head-to-head for the keys to 667 Old Northern Road, Dural, after the auction opened for $ 6.5 million.

The two remaining bidders went head-to-head in increments of $ 100,000 before the hammer fell after just two minutes.

Benson Auction Director and Auctioneer Stu Benson said sales of the Hills District area had increased by 50 percent in the past 18 months.

“An acquisition like this – actually land value – becomes very mathematical, and these two buyers knew their sum,” Mr Benson said.

The average house price in Dural rose 18.9 percent to $ 1,635,000 in the 12 months to September 2021.

A local builder bought the house at 12 Colane Street, Concord West for $ 2.95 million with plans to build a duplex.

A local builder bought the house at 12 Colane Street, Concord West for $ 2.95 million with plans to build a duplex.

In Concord West, a local builder picked up an original bungalow at 12 Colane Street for $ 2.95 million.

Thirteen parties signed up to bid on the three-bedroom, two-bathroom house, which was put out to tender for the first time in 100 years, and a $ 2.1 million opening bid started the auction. The reserve was $ 2.5 million.

But only five were active in the race, and the price rose in increments of $ 100,000 and $ 50,000.

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Seller Ross Musso of Raine & Horne Concord said the buyer, who plans to develop the 682-square-foot block into a duplex, is outbid a family.

“The reason we got that award is, I think, it ticked a lot of boxes … It attracted a lot of different buyers. I did not expect to have 13 registrations,” Mr Musso said.

While buyers were more cautious, there was still a lack of unique properties such as large blocks of potential, he said.

The suburban median house price is $ 2.2 million on domain data, stable over the 12 months to September.

In Chifley, a newly built four-bedroom duplex on 10B Wills Avenue brought in $ 2,751,000.

The newly built duplex at 10B Wills Avenue, Chifley.

The newly built duplex at 10B Wills Avenue, Chifley.

Four of the seven buyers participated in the auction, which started at $ 2.3 million and increased in varying steps.

A family outside the area that was increasing in size walked away with the keys to the house on the 309-square-foot block and paid $ 151,000 over the reserve.

Seller Joshua Karam of McGrath Maroubra said cheap buyers from Paddington, Randwick and Coogee entered the local market as it provided good value for money.

In Marrickville, an original three-bedroom house on 12 Queen Street was sold for $ 1,475,000 to a young family from St. Louis. Peters.

The original home on 12 Queen Street, Marrickville was last traded for $ 12,500 five decades ago, according to sellers.

The original home on 12 Queen Street, Marrickville was last traded for $ 12,500 five decades ago, according to sellers.

Seven parties signed up to bid on the property with four participating in the sale, which started at $ 1.2 million, right on the price guide.

The reserve was $ 1.35 million.

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Adrian Williams’ Joseph Ferreira said the property was initially guided to $ 1.3 million before being reduced to match buyer feedback during the auction campaign.

“Many people at $ 1.3 million felt they did not want to do the work. Feedback was $ 1.1 to $ 1.2 million. It attracted the buyers who were out there to work,” he said.

“The market has definitely changed since the lockdown. I think August, September, October were the top of the market for the year. When we did online auctions, we had 10 to 20 people signed up.

“It comes down to one to two buyers. The fact that we had seven buyers registered is quite rare in these market conditions. There is more stock and [it] dilutes buyers. ”

The property was purchased for $ 12,500 five decades ago, according to sellers.

Marrickville’s median house price rose 15.6 percent to $ 1.7 million in the 12 months to September.


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