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The winning couple, who had a parent bid on their behalf, were sold on the quality of the workmanship of the renovated 1890s terrace and rooftop garden.
“It’s old and beautiful and has lots of character,” the bidder’s son said. “You can tell it has been taken care of.”
The young man’s partner was also delighted. “You can see it has been loved for years,” she said.
The property was one of 1121 scheduled to go to auction in Sydney this week.
On the northern beaches, a first home buyer bought a two-bedroom, street-level apartment in Fairlight for $1,785,000.
The price guide of the property at 7/33 Fairlight Crescent was $1.75 million, while the reserve was $1.8 million. The property is part of a block with a 995-year leasehold.
The vendors were three siblings selling on their mother’s behalf. Bidding opened with a vendor bid of $1.75 million. There were two registered bidders.
Sales agent for Cunninghams Real Estate, Georgi Bates, said buyers were taking their time at the moment.
“There are quite a few properties on the market and buyers are picky,” she said. “This one would have had more buyers, but it’s leasehold, so there are challenges.”
An interstate move prompted a family from Queensland to buy a four-bedroom home in Hornsby Heights, with the property going under the hammer for $2,131,000.
The single-level home at 27 Montview Parade had a guide of $1.8 million. The reserve was set at $2 million.
Eight bidders registered for the property which has no garage but ample parking, with five actively bidding. Bidding opened at $1.7 million.
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Belle Property Upper North Shore sales agent, Sally Dodd, said the home was beautifully presented by the vendor, who was Dodd’s former property stylist, but still within reach of local buyers.
“[The vendor] totally styled it according to the character of the home and in a way that would appeal to Hornsby buyers,” she said.
“We’re not Mosman or Neutral Bay – the record price here is $3.1 million and the average is $1.7 million.”
A range of buyers were attracted to this perfectly pitched property at Hornsby Heights.Credit: Domain
The successful bidders were attracted by the presentation of the home and the space afforded their caravan, Dodd said.
“It’s been beautifully renovated and there is nothing to do.”
The recent interest rate increase had affected buyer confidence in the area, as had rising building costs, she said.
“Buyers are a lot more cautious. If a property has major objections, such as being on a sloping block, or it is in need of major renovations, it’s more challenging to sell.”
In Cronulla, a four-bedroom house, with one in a lofted space, sold for $3.6 million to a local couple.
The reserve for 10 Portsmouth Street was $3,585,000, while the price guide was $3.3 million to $3.4 million
Six people registered to bid, with three active after the opening bid of $3.4 million.
The successful bidders were a young couple who planned to move into the house before considering a renovation.
“They’re a young couple from Burraneer who have been living in Cronulla and have fallen in love with the lifestyle,” said Gibson Partners sales agent, Ivan Lampret.
“The underbidders were an older couple looking for something on a single level where they could walk to everything Cronulla has to offer.”
The backyard at 10 Portsmouth.Credit: Domain
The vendor is moving into aged care.
Lampret said the property on the peninsula just beyond South Cronulla Beach was in a lesser explored part of the suburb positioned between Shelly Beach and Gunnamatta Park.
