Auctioneer Andrew Cooley at the sale of a Cronulla property for more than $200,000 over reserve.
About two thirds of the Sydney properties that went to auction last week sold successfully and many vendors got prices above their reserves despite the tense economic conditions.
Research group CoreLogic reported a weekly clearance rate of 67.8 per cent based on 549 declared results. There were a total 668 auctions.
The median price of houses sold under the hammer was about $1.4m, while the median price for units sold at auction was just shy of $890,000.
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Among the standout results at auction was for a four-bedroom house in Cronulla, offered for the first time in 50 years.
The property sold at auction on Saturday for $2.21m, $210,000 over reserve. The house on Grosvenor Cr is set on an unusually large block for the area at 841sqm and attracted a mix of developers, upsizers and people looking for a knockdown-rebuild or duplex project.
A Lukes Ln property in Baulkham Hills sold for $95,000 over reserve. Picture: Benson Auctions
Auctioneer Andrew Cooley received an opening bid of $1.9m and bids were placed by three of the six registered parties.
In Oatley, a five-bedroom house on 506sqm sold under the hammer for $1.6m, $50,000 over reserve.
Six bidders registered for the auction of the Mi Mi St home and three submitted offers, including an opening bid of $1.3m.
Ray White-St George agent Matt O’Shea and Haydon Sacilotto had the listing.
49 Mi Mi St, Oatley sold on Saturday.
Mr O’Shea said more than 65 groups came through the opens. “The highest offer we received prior to the auction was $72,000 less than the under the hammer sale price so that goes to show the value of taking your property to auction.”
In the northwest, the sellers of a 930sqm property in Baulkham Hills achieved a price $95,000 over their reserve after attracting a dozen bidders to their auction yesterday.
The price for the home on Lukes Lane was $1.315m, with the home sold through Guardian Realty agent Sam Dalgliesh.
15 Lukes Lane, Baulkham Hills sold for just over $1.3m.
Auctioneer Stu Benson received 15 bids. “Our opening bidders, a young couple visibly expecting the arrival of a new addition to their family, outlasted all bidders to secure the home, and you could tell they had the crowd on their side. It was a real feel good’ result,” Mr Benson said.
In the inner west, a family sold their Marrickville house of 13 years at auction for $1.395m.
Peter Warrington and Rachel Williams had snapped up the three-bedroom house on Scouller St for close to $500,000 back in 2007 and listed the home with a guide of $1.25m.
Six bidders registered for the auction with selling agents Adrian Tsavalas and William Pereira of Adrian William.
Rachel Williams and Pete Warrington, with kids Rosa and Frankie, sold their Marrickville home for higher than expected. Picture: Sam Ruttyn
Ms Tsavalas said the price was above expectation. “Most of the registered bidders were young couples and families and the buyers were a couple upsizing from a unit,” he said.
The opening bid was $1.1m and three of the bidders put in offers. “It was very slow to get started,” Mr Tsavalas said.
“There were close to 40 bids, the bidders were playing a bit of a poker game, they needed social proof before they made offers.”
In nearby St Peters, a four-bedroom house on Grove St sold under the hammer for $1.65m, $50,000 over reserve.
The sellers received an offer of $1.5m prior to the auction but turned it down. There were nine registered bidders and five made offers.
Selling agent Ercan Ersan of Ray White-Erskineville said more than 80 groups inspected the property in the lead up to the auction. “This was a cracking auction,” Mr Ersan said. “It really felt like the good old days with both buyer and vendor confidence flowing.”
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