The first to go under the hammer was a three-bedroom, two-bathroom unit at 31 / 342a Marrickville Road with a $ 1.4 million price guide.
A young couple were the successful buyers of the three bedroom unit at 31 / 342a Marrickville Road, Marrickville. Tawar Razaghi
Half of the six parties registered to bid participated in the 122-square-meter unit auction. It opened at $ 1.3 million and increased in different increments.
There was a slight frustration and tension on the part of the buyers. One asked “are we in the market?” at $ 1.46 million, to which the auctioneer replied, “I’ll tell you when we sell it.”
With $ 1.5 million, the house was finally put on the market before reaching the final sale price of $ 1.54 million. The reservation was $ 1.5 million.
Successful shoppers were a young local couple who were relieved to have bought below their $ 1.6 million budget.
“It’s actually less than we were willing to pay, to be honest, it looks like the market is leveling up,” Diana Vidovic said.
The 30-year-old, who works in travel marketing, said she and her partner, who works in finance, were concerned that the competition had received her award.
The unit was worth $ 1.4 million. Tawar Razaghi
“We were concerned about being kicked out of the market by people who have sold homes and are downsizing,” he said.
The house was last traded for $ 1,167,000 in 2019, according to records.
Ercan Ersan of Ray White Surry Hills, Alexandria, Glebe and Erskineville said the lower bidders were downsizing and the rest of the competition investors planned to downsize them in a decade.
“There’s the fear of paying too much, not the fear of getting lost,” he said.
Half an hour later, some of the same public and buyers at the auction went down to 28 / 342a Marrickville Road, this time a two-bedroom, two-bathroom unit.
Only two of the seven registered buyers bid for the 112-square-foot home, which opened at $ 950,000.
Bidder Jason and Buyer’s Agent Michelle at the auction of Unit 28 of the same complex. Flavio Brancaleone
It was a similar atmosphere, as the auctioneer struggled to get big enough bids after rejecting $ 5,000 bids several times and stopping at $ 1.04 million.
There was a brief pause and negotiation between the highest bidder and the seller before it was sold for $ 1.05 million.
Michelle May, the director of the buyer’s agents, Michelle May, said she bought on behalf of a local young couple who were upgrading from another apartment.
“I think we did really well,” he said.
The two-bedroom unit was guided to $ 950,000. Flavio Brancaleone
Bidder Jason, who declined to reveal his last name, said he was surprised by the large turnout and did not want to pay more than $ 1 million for the property, which would have been an investment for him.
“There were so many people there,” the 49-year-old high school teacher said. “Don’t you know that interest rates are rising? [The market in general] it’s outrageous, and it’s a little embarrassing, and I don’t like to think of myself as a capitalist. I just want to make some money because I’m getting old, you know? “
The property was last sold for $ 790,000 in 2015, according to records.
Marrickville’s average unit price rose 8.3 percent to $ 812,000 a year through March of this year on domain data.
In Annandale, an iconic trophy house at 46 Johnston Street sold for $ 6.61 million, more than half a million dollars above the reserve.
Three buyers (upgraded families from Hunters Hill and Kensington, as well as a multigenerational family) signed up to bid for the six-bedroom property, which was targeted at $ 6 million.
The auction opened with $ 5 million, rising sharply by $ 400,000 and $ 100,000 before slowing to a close and selling to the Hunters Hill family.
Chris Nunn of BresicWhitney Glebe said these rare homes maintained their value regardless of market conditions.
“Trophy houses are still in high demand … buyers of these assets are less focused on trying to get a discount and more focused on simply having the ability to buy one without as much competition as they could have had three months ago “Nunn said. dit.
It was the late estate of artist Georgina Beier.
Annandale’s average home price rose 33.5% to $ 2.35 million a year through March of this year.
Another rare offer, this time north of Sydney, also garnered outstanding results with 12/144 High Street selling for $ 2.6 million.
Eight parties registered to bid on the sea views unit. Three participated in the sale, which opened for $ 1.9 million. The reservation was $ 2.2 million.
According to sales agent Lorinda Mansfield of Raine & Horne Neutral Bay, sales agent Lorinda Mansfield was sold to reducers on the upper North Shore who wanted to be closer to the city.
“These properties set their own prices,” he said. “For me we are dealing with different market speeds.”
It surpassed the last sale, another two-bedroom unit at 9/144 High Street, in the 1920s building for $ 220,000 in just one month.
The property was last sold for $ 1,425,000 in 2016, according to records.
Neutral Bay’s average unit price rose 5.7 percent to $ 1,067,550 a year through March of this year.
In Lilyfield, a Southern Highlands couple bought a three-bedroom house at 1 Sunnyside Avenue for $ 2.6 million.
Buyers exceeded bids from six other registered parties after the auction opened for $ 2.3 million, $ 100,000 above the guide.
McGrath Balmain’s sales agent Cindy Kennedy, who declined to disclose the reservation, said last year’s sold-out buyers are willing to close deals.
“I definitely realized that when they were negotiating settlement dates, people wanted a shorter settlement because of interest rates,” Ms. Kennedy said.
The house was last traded for $ 1,745,000 in 2017, according to records. The average Lilyfield home price rose 24.4% to $ 2,328,000 a year through March of this year.
In St. Peters, buyers of the first home picked up a dilapidated townhouse at 60 Unwins Bridge Road for $ 1.33 million.
They outperformed seven more buyers, most of them investors or builders, according to Adrian William’s Kate Ferrante.
“First home buyers will just paint it and put in a new kitchen and live in it,” he said.
“It’s a bigger, cheaper house [for them]. With the cost of building materials, the builders taking advantage, there is money for them. “
The reserve was $ 1.27 million. The average home price in St. Petersburg rose 22.2 percent to $ 1,644,000 a year through March of this year.
This story first appeared in The Sydney Morning Herald and The Age.