Updated ,first published
An unrenovated Federal-era house in a heritage conservation area in Stanmore sold for $2,445,000 Saturday at auction.
More than 50 people gathered 61 Corunna Roadspilled onto the street and into the street as auctioneer Emma Brown-Garrett opened the bidding at $1.8 million. The property had a guide of $1.95 million and a reserve of $2.12 million.
There is no legal requirement for the seller’s reserve to match the guide price of their property.
Thirteen registered bidders and five were active with bids starting at $50,000 before dropping to $20,000 and then $10,000. When the hammer fell there were 45 bids.
The winning bidders were a family of four who had recently returned from living in Byron Bay. While their daughter is enrolled in a local school, they said they had a hard time settling down since they returned to Sydney a month ago.
They plan to restore the property, which has three bedrooms with potential for a fourth bedroom or separate dining room. It still retains its original features, including decorative cornices, a fireplace, stained glass and a full-length mirror, built into the hallway.
“We loved it,” one of the new owners, who grew up in Stanmore but did not give his name, said.
Ray White Touma Taylor’s sales agent, Walter Burfitt-Williams, said it was his team’s best auction of the year. The property was being offered for the first time in 44 years and was sold as the property of the deceased.
“(The owner) was a collector and it was (at first) difficult to assess because there were so many things,” he said. “But it’s a nice house.”
The property was one of 939 scheduled to go to auction in Sydney this week.
In Potts Point, a first home buyer from nearby Darlinghurst paid $925,000 for a one-bedroom home in an art deco building.
Bidders gathered in a light-filled apartment 4/113-115 Macleay Street to avoid the disruption of weekend markets with bids starting at $750,000.
Bids jumped, starting at $25,000, then $5000 before increasing to $15,000 and then $10,000. A final bid of $20,000 won the keys.
The low bidder was also the first home buyer.
The property had a guide of $820,000 to $900,000 and a reserve of $900,000.
BresicWhitney East sales agent Nuri Shik said while properties for sale under $1.5 million will attract attention, some stand out more than others.
“Anything in a beautiful old building with character, charm and style, there are always buyers.”
Further east, a waterfront apartment in Darling Point sold for $5.2 million, $300,000 over reserve.
The winning bidders for 4A/27 Sutherland Crescent they were locals who plan to move into a large three-room apartment. The lowest bidders were also locals looking for new homes.
The property overlooking Diendagulla Bay, Sydney Harbor and beyond had a guide of $4.9 million, the same as the park. While three bidders signed up, two were active, with bidding opening at $4.5 million, rising in $50,000 increments.
Michael Pallier, selling agent for Sydney Sotheby’s International Realty, said the property “they ticked a lot of boxes”, with a north-east aspect, access to the communal swimming pool and a private jetty.
“It’s a waterfront lot with a double lock-up garage and level access via elevator,” he said. “The building has had a major renovation recently. The fourth floor is also the best place – not too low or too high.”
The house was a late property being offered for the first time in 22 years. It includes Miele appliances, marble bathrooms with underfloor heating and a bathroom with spa.
“This property is prime real estate and there are a lot of people who want to buy it,” Pallier said.
South of the town of Caringbah was the battle of first home buyerswith two bedrooms for sale for $995,000. Eight registered bidders and five active.
The buyer’s agent opened the bid 6/1-5 Sunnyside Avenue for $922,000, with initial increments of $10,000 before returning bids of $1000. Five minutes later, the auction was over. The property had a guide of $890,000 and a reserve of $950,000.
The winning bidders were a couple from Perth who had moved to Sydney for work. The buyer’s agent’s clients, also first-time home buyers, were the low bidders.
Luke Lombardi, sales agent for Pulse Real Estate, said properties in the $850,000 to $950,000 price range were in. great demand right nowespecially if they are ready to move.
“The floor plan (in this apartment) worked well because it was nice and open,” he said. “Buyers don’t want anything that needs work. They want to move in and enjoy it right away.”
Robyn Willis is a property reporter and former lifestyle editor for The Sydney Morning Herald and The Age.
