Top jockey’s house exceeds reserve by $950,000

Champion jockey Darren Beadman’s Northbridge home sold for nearly $1 million above reserve on Saturday as Sydney homeowners take advantage of the booming auction market.

Bidders have been lining up for the few homes for sale, although listings are starting to increase and offer more choice, with 602 auctions scheduled for Sydney on Saturday, the most in two months.

In the evening, Domain Group recorded a preliminary resolution rate of 85.0% on 467 reported results, while 43 bids were removed. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.

25 Euroka Street, Northbridge NSW 2063

The Lower North Shore home of two-time Melbourne Cup-winning jockey and author and his wife, life trainer Kim Beadman, was on the market from the opening bid of 5.1 million dollars – which exceeded the prize pool by $5 million.

More than 60 bids were made on the five-bedroom property in what was largely a two-man race. The 645 square meter block was eventually sold to local upsizers for $5.95 million.

Sales agent Rick Woodward of The Agency North said the house has attracted interest from buyers in the North Shore and Eastern Suburbs, with the shortage of stock on the market prompting many house hunters to cast their nets larger than they otherwise would have been.

The Beadmans, who built the stylish home after buying the block for $1.52million in 2009, plan to downsize in Sydney’s east end.

13 Nelson Street, Annandale NSW 2038

13 Nelson Street, Annandale NSW 2038

In the mid-west, 20 house hunters registered to bid on a converted warehouse at 13 Nelson Street, Annandale, which sold for $2,806,500.

Nearly 70 bids were placed on the three-tier warehouse on a 129-square-meter block, with bids from seven of the bidders pushing the price more than $500,000 above the $2.3 million reserve. dollars – and smashing the $2 million price guide.

The Industrial Warehouse Residence in the former Australian Contingent Hotel, built in the 1800s, has been sold to a mid-west couple through Chris Nunn of BresicWhitney Glebe. They hope to transform it from a one-bedroom mixed-use space into their dream family home.

A shortage of stock on the market meant that properties of all calibers were attracting strong interest from buyers, said auctioneer Stu Benson, of Benson Auctions.

“I average at least 15 registered bidders per auction, an indicator that we are still far from the supply we need to meet demand,” he said.

27 Kolodong Drive, Quakers Hill NSW 2763

27 Kolodong Drive, Quakers Hill NSW 2763

Mr. Benson held nine auctions in the city’s northwest on Saturday, including a dilapidated three-bedroom house in Quakers Hill that sold for between $910,000 and $160,000 above reserve.

“It doesn’t matter whether a property is a one-story house, a dilapidated house to be demolished, purely land or a prestige property, all sectors of the market are currently activated,” he said.

“And the number of viewers we get online is very important; people are really watching the market. I had an auction earlier today with over 300 people watching it live.

It was rather a mixed bag for auctioneer Clarence White, of Menck White Auctioneers, who passed two of the five properties on Saturday.

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“We had a few situations today where sellers weren’t on par with buyers,” he said, while noting that the bulk of sellers’ expectations were still exceeded.

Mr White said there had been a noticeable increase in listing volumes over the past 10 days, with strong auction bookings for October and some days starting to book up. He suspected that with the end of the lockdown in sight, sellers were keen to take advantage of good market conditions while they lasted.