6 Sydney Properties that Scored Big at the Weekend’s Auctions

Sydney Real Estate Auction Results – June 17th, 2017

Property snapshot
Listed auctions: 787
Reported auctions: 533
Sold: 418
Withdrawn: 68
Cleared: 70%
Total sales: $454,996,995
Median: $1,265,000
Source: Australian Property Monitors

 

This week the number of properties listed for auction across Sydney increased significantly over last week, with 787 properties listed for auction versus 407 properties the week prior. The auction clearance rate increased to 70% from 67% the week prior, however this is still below the mid-70%+ auction clearance rate we have experienced for most of 2017.

Even though there is talk of the market cooling, there were still some stand-out sales across Sydney in all price points. Here are six Sydney properties that scored big at this weekend’s property auctions:

  1. An entry-level two bedroom apartment at 7/155 Penshurst St, Willoughby that had appeal for investors and first home buyers alike, was initially listed with a price guide  of $700k-$770k, which was then increased to $800k due to buyer feedback and eventually sold at auction for $900k.
  2. A five bedroom Longueville house on 1,537 sqm at 54 Stuart St, Longueville sold well above it’s $7m price guide for approximately $8m.
  3. A one bedroom Manly apartment at 4/32 Quinton Rd, Manly with water views but without parking sold by private treaty for $1.533m.
  4. And a one bedroom townhouse / apartment with parking at 2/51 Pittwater Rd, Manly sold for $875k.
  5. 6/29-31 Waratah St, Rushcutters Bay, a two bedroom, 2 bath, 2 parking apartment sold prior to auction for $1.65m.
  6. Buyers saw the potential in 27 Greycliffe St, Queenscliff a three bedroom , two bathroom, two parking completely original home on 265 sqm and snapped it up for $2.7m. While the home is currently unloved, it is double brick and it has the potential for amazing water views if a second storey was added.

So what didn’t sell?

208 Annandale St, Annandale, a 3 bed, 2 bath, 1 parking semi on 249 sqm passed in at $2.3m and is now for sale with a price guide of $2.2m-$2.3m.

45 Douglas Ave, Chatswood a 7 bed, 5 bath, 2 parking brand new house with a granny flat on 520 sqm passed in at auction and is now for sale for $3.58m. Normally, I would expect that this house would be popular with Chinese buyers due to its location in Chatswood and the fact that it is a large, brand new house. However the Chinese consider the number 4 to be unlucky so perhaps this has affected the interest in this home. 

9 Merrenburn Ave, Naremburn, a 4 bedroom Federation home on 715 sqm was withdrawn from auction and is now for sale with a price guide of $3m.

115 Hargrave St, Paddington, a five bedroom, 4 bathroom, 1 parking 6m wide terrace on 198 sqm passed in at auction with a vendor bid of $3.6m and is now for sale for $3.6m.

This weekend will be the last big weekend of property auctions before the school holidays when property activity quietens so expect to see good property numbers again at the upcoming auctions on Saturday 24th June.

As always, please don’t hesitate to contact me if you want to find out how our buyers agent services can assist you with your Sydney property purchase.

Bernadette Brennan

 

54 Stuart St, Longueville

54 Stuart St, Longueville sold for well above its price guide of $7m.

 

2-51 Pittwater Rd, Manly

2-51 Pittwater Rd, Manly, a one bedroom townhouse / apartment sold for $875k.

27 Greycliffe St Queenscliff

27 Greycliffe St Queenscliff, a freestanding original home on 265 sqm sold for $2.7m.

4-32 Quinton Rd Manly

4-32 Quinton Rd, Manly a one bedroom apartment, sold for $1.533m.