Stunning Lilyfield home sells for $4.415m

Sydney Real Estate Auction Results – June 10th, 2017

Property snapshot
Listed auctions: 407
Reported auctions: 265
Sold: 204
Withdrawn: 39
Cleared: 67%
Total sales: $203,251,387
Median: $1,160,000
Source: Australian Property Monitors

 

Sydney property had a very quiet Queen’s birthday weekend with only 407 properties listed for auction compared to 789 properties the week prior. The auction clearance rate also dropped to 67% from 74%the week prior – the lowest auction clearance rate in months.  I would anticipate that there will be more properties listed for auction this week as vendors try to sell before the lull of the July school holidays. Marketing campaigns for new properties will now most likely start in mid-July after the July school holidays have finished.

My stand-out property this week is the very lovely 20 Rayner St, Lilyfield. This is a stunning 5 bedroom, 3 bathroom, 2 parking home with a pool and guesthouse on 736 sqm. Sympathetically renovated by local Sydney architects Tony and Susan McLain, it is a Federation home that has been beautifully opened up to create a flowing and light filled home. It sold at auction for $4.415m, which is a huge price for Lilyfield however when you look at the quality of the house and the land size it compares favourably to houses in the East and North, where you are paying more than this for a comparable property and not getting features such as a Wolf cooktop and oven and a Sub-zero fridge and freezer.

It will be interesting to see if more properties hit the market this week and if the auction clearance rate improves.  There are early signs that the market is cooling and that it is starting to be a good time for property buyers.

As always, don’t hesitate to get in touch if I can be of any assistance with your property search or purchase. As a buyers agent I see multiple properties every week, both on and off-market and am very across what is happening in the local Sydney property market.

 

20 Rayner St Lilyfield living room

20 Rayner St Lilyfield living room

 

20 Rayner St Lilyfield pool

20 Rayner St Lilyfield pool

20 Rayner St Lilyfield outdoors

20 Rayner St Lilyfield outdoors