A young mid-west musician paid $3.242 million for a newly renovated four-bedroom corner patio in Erskineville at an online auction Saturday.
The buyer paid $192,000 more than the reserve to secure the house, one of 602 Sydney properties slated for auction that day.
In the evening, Domain Group recorded a preliminary clearance rate of 85.0% from 467 reported results, while 43 bids were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
The 38 Swanson Street home attracted 10 registered bidders, four of whom participated, and an opening bid of $2.7 million.
38 Swanson Street, Erskineville NSW 2043
The bid climbed rapidly, hitting the $2.8 million price guide on the third bid, and had fallen to a two-run by the time it hit the $3.05 million reserve price. dollars.
Nearly 60 bids were made before the hammer fell to $3.242 million. The new owner plans to use retail space at the front of the 177 square meter block as a music room.
The house was sold by Moira Verheijen from Ray White Erskineville and records show last home traded for $876,000 in 2004.
On the North Shore, a three-bedroom apartment in need of renovation sold for $4.7 million at auction on Saturday.
Two local downsizers competed for the waterfront apartment at 16/18-22 West Crescent Street, McMahons Point.
Despite six registered bidders tuning in to the auction, it got off to a slow start, with auctioneer James Kerley waiting minutes for an opening bid of $1.41 million. From there, bidding slowly climbed from $100,000 to $4.4 million, then dropped to $50,000.
16/18-22 West Crescent Street, Mcmahons Point NSW 2060
Bidding stalled at the indicative price of $4.5 million, but the highest bidder eventually raised their own bid by $200,000, after several minutes of offline discussion, to reach the reserve.
The $4.7 million paid for the 120 square meter apartment, which has a large terrace to take in the views, was a record price for a street unit, and well above the 3.6 million paid for another three-bedroom apartment at the same block late last year.
Interested parties were looking to spend between an additional $250,000 and $500,000 to renovate the apartment to its original condition, said sales agent Adrian Bridges of Atlas Basse-Cote-Nord.
The deceased estate last traded for $760,000 in 1992.
28 Cobham Avenue, Melrose Park NSW 2114
In the Northwest, the four-bedroom house at 28 Cobham Avenue, Melrose Park, sold for $2.432 million.
The renovated house – on a 570 square meter block backing onto the Ryde Parramatta golf course – attracted interest from 17 registered bidders, but only four took part after auctioneer Michael Garofolo accepted an opening bid from $1.8 million.
Bidding rose rapidly in increments of $50,000 and $25,000 to reach $2.2 million, then in jumps of $20,000 and $10,000 to reach $2.4 million, before slowing down.
The end result was $132,000 above the $2.3 million reserve, with the house selling to a young couple moving out of a Mosman apartment. The house was sold by Jerry Dionisatos of Green Real Estate.
Records show it last sold for $850,000 in 2010.
14 Moncur St, Marrickville NSW 2204
Back in the Midwest, first-time home buyers bought a two-bedroom house with no parking in Marrickville for $1.93 million.
Bidding for 14 Moncur Street opened at $1.5 million and quickly rose above the $1.65 million price guide and $1.75 million reserve, as four of the nine registered bidders have made bids.
The 227 square meter block was sold by Nathan Doyle of Adrian William. Records show it last traded at $730,000 in 2010.