Taylor Troeth, Property Journalist
First published 18 Nov 2023, 5:45pm
Spring selling season continues to produce cracking results and huge crowds across the harbour city.
Entry level homes had many young local families battling it out, with a Tempe home selling for more than $300,000 above reserve to first home buyers.
A crowd of around 40 people gathered in the small backyard to see the home at 65 Station St sell for $1.618m.
Nick Moraitis, listing agent from LJ Hooker Newtown Group said it sold way over their expectations.
Auctioneer Ben Mitchell brings down the gavel on the sale. Picture: Julian Andrews
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“The vendors are over the moon, we were not expecting that.”
With over 100 groups viewing the property throughout the campaign, Mr Moraitis said entry level homes in the inner west were far and few between.
“There are not many homes like this available from a stock and agent point of view, so when they come up, they go,”
He said that interest rate rises hadn’t dampened the appetite for entry level homes in the inner west due to the lack of stock in the area.
The home was a free standing three bedroom home.
Mr Moraitis said the sellers were investors who had owned the property for thirty years.
The home was a three-bedroom freestanding cottage with a levelled green grass backyard with a modern kitchen and bathroom renovation.
The winning bid was placed by buyers agent Angus Lander from Inner West Nest on behalf of a Summer Hill couple.
Buyers agent Angus Lander secured the final bid for his clients, a couple from Summer Hill. Picture: Julian Andrews
“My clients were first home buyers that were mainly looking in the inner west area, they’d been looking for a couple of months on their own before they came to me,” Mr Lander said.
“For them, they were looking for an opportunity to add value, Tempe is an up and coming area and they are hoping to live in it for a few years and do some renovations,” he said.
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Popular among young families and couples, the auction had seven registered bidders and three active.
“Everyone’s chilling today,” said auctioneer Ben Mitchell as the underbidders, a family with two young children, sat calmly on the floor during the auction.
The home was popular with young couples and families.
A timeless Californian bungalow in the inner south has smashed its reserve by $460,000.
The home at 31 Dalmeny Ave sold for $3.26m with seven registered bidders and four active.
“It was a busy auction and things are still selling really well,” lead agent Roger Wardy from Ray White Touma Group said.
The home featured four bedrooms on a large parcel of land in the sought after suburb of Rosebery.
The home at 31 Dalmeny Ave sold for $3.26m.
Mr Wardy said he could have sold the property during the week but he wanted to go to auction.
“We always run through to auction as that’s where the competition and emotion is created,” he said.
The Rosebery home.
A large home in the Sutherland Shire has sold under the hammer for $1.832m, $132,000 above reserve.
The five-bedroom home at 4 Wattle Rd in Jannali drew interest from families from all over Sydney’s suburbs – even some from Melbourne.
Sitting on a large 1,201 square metre block, the home had modern finishes and a large backyard.
The biggest draw card to the property was the self-contained lower level that included a kitchenette and a separate entrance from the rest of the home.
The Jannali home at 4 Wattle Rd.
The bidding opened at $1.65m and had 5 registered bidders who all had a go at securing the property.
The winning bidders were a local family who plan to use the granny flat for their young adult daughter.
The home was sold by Mitch Kenyon from McGrath Sutherland Shire.
The large Sutherland Shire home sold for $1.832m.
A renovator’s delight in the popular inner-west suburb of Marrickville has been sold for $1.385m.
With 6 registered bidders, the property at 144 Edinburgh Rd was popular with young professionals according to listing agent Robert Lapic from Belle Property Newtown.
“We were expecting a lot of builders to come through but that hasn’t been the case. It’s been a lot of young people wanting to get into the area,” he said.
Location and proximity to Marrickville Metro shopping centre, public transport, trendy pubs and cafes were drawing attention to the property, according to Mr Lapic.
The Edinburgh Rd home sold for $1.385m.
The home sold to a Canadian couple who were excited to be in Marrickville.
With four registered bidders, a young professional couple who had recently settled from Canada purchased the property.
“They’re thrilled to be in the Marrickville area,” he said.
Mr Lapic said properties that need renovations are generally quite popular due to their rarity.
“It attracts a variety of demographics trying to get a foot in the door and some builders who see a good opportunity,” Mr Lapic said.
The Marrickville home was ripe for an upgrade.
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