Clovelly two-bedroom semi-detached home sells for $2.88 million

A severe outbreak of the Delta Variant COVID-19 was not enough to halt real estate activity in the eastern suburbs as a Coogee family moved to a two-bedroom semi-detached home in Clovelly for $2.88 million on Saturday .

The lockdown meant that all of Sydney’s auctions took place online. Six parties have registered to bid at 44 Arden Street, Clovelly.

It was one of 747 homes set to go under the virtual hammer in the city on Saturday.

In the evening, Domain Group recorded a preliminary resolution rate of 69.4% from 507 reported results, while 139 bids were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.

44 Arden Street, Clovelly NSW 2031

Bidding started at $2.6 million, right in the price guide, and rose in varying increments as four parties entered the sale, mostly local Bondi and Waverley families looking to renovate.

The 221 square meter deceased estate sold for $2.88 million – $80,000 above reserve – to a young Coogee family.

McGrath Coogee’s Marnie Senior said the latest lockdown did not affect the market.

Clovelly_topycp
The property was located on a 221 square meter block with all interested buyers keen on its renovation potential. Photo: Supplied

“I don’t think COVID affected the outcome,” Ms Senior said. “The buyers were all there from day one.”

She said it was “really pretty strong when we opened today” and noted that one property attracted 21 individual inspections on Saturday.

“No signs of slowing down, the number of online requests is really the same. The tomes are still there. There’s no change there and they all still want to buy as soon as they can.

91 Barcom Avenue, Darlinghurst NSW 2010

91 Barcom Avenue, Darlinghurst NSW 2010

In Darlinghurst, a local homeowner has bought a five-bedroom terrace at 91 Barcom Avenue for $3.625 million, outbidding several investors.

Five parties have registered to bid on the dilapidated house, including three investors who are seeking to flip it.

Bidding started at $2.7 million, $100,000 below the target price, but steadily increased as four parties raised the price.

The hammer fell to $3.625 million, which was $525,000 more than the reserve of $3.1 million.

Jeremy Brink of Ray White Taylor and Partners said it was an exceptional result for a hotly contested single property.

“Buyers and sellers are aware of the confinement and the COVID so it is not alarming [and] things are still trading at current market rates.

The property last sold for $190,000 in 1987, records show.

4 Boundary Road, North Epping NSW 2121

4 Boundary Road, North Epping NSW 2121

In North Epping, a three-bedroom house at 4 Boundary Road has sold for $1.867 million after being put on the market for the first time since 1959.

Five parties have registered to bid on the 753 square meter property. The procedure opened at $1.6 million, about $150,000 below the guide, and all but one bidder participated.

The house was sold to an older couple who planned to demolish it to build a single story house around the corner from their daughter’s house. The reserve was $1.8 million.

Catherine Murphy of Agence Nord said this latest lockdown will lead to more people reassessing their living situation.

“We expect a lot of buyer activity – because of this lockdown it will start to gallop again,” Ms Murphy said. “There’s confidence that we’re going to get through this, the economy won’t fall into a hole and life will go on.”