4 hours ago
3
A young family from Ryde that had been looking for a house for three months paid $1.94 million at auction on Saturday for a Federation home in Bexley.
The three-bedroom, double-brick house at 1 Park Avenue was guided at $1.7 million and had a reserve of $1.8 million. There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.
The deceased estate is on a corner block and across the road from a park. Interior features include leadlight windows, ornate ceilings and a timber-clad kitchen.
Of six registered bidders, three took part. Bidding opened at $1.72 million, then rose in $30,000 and other increments.
The property was one of 706 scheduled to go to auction in Sydney on Saturday.
A young family from Ryde paid $1.94 million at auction on Saturday for a Federation home in Bexley.Credit: Pulse Property Agents
The buyers had purchased before, but this was their first time purchasing a house. Pulse Property Agents’ Luke Lombardi said they had missed out on many other properties and were “very delighted” to have secured the keys on Saturday.
They outbid young families from the St George region, Haberfield, Ryde and Concord. There were no developers as the property is heritage listed.
Lombardi said the selling points were the heritage charm, corner block location, proximity to the park and well-maintained interiors.
Loading
Lombardi acknowledged that while there is limited stock for sale, “good quality homes at a good price point and in a good location will attract interest and sell”.
In Belmore, a family paid $1,753,000 at auction, with plans to knock down the brick home with pool and patio, and build their dream home.
The three-bedroom property at 32 Chalmers Street had no guide and a reserve of $1.5 million.
Belmore railway station and shops are in walking distance, and interiors feature patterned wallpaper and a retro-style timber kitchen.
There were 15 registered bidders and five took part. Bidding opened at $1.4 million and rose in increments of $50,000 before varying.
The buyers were not from the area and outbid families wanting to live in the property and renovate it.
Ray White Bankstown’s Jordon Le Breux said the selling points were its proximity to local amenities including the railway station, Catholic primary school and church.
Le Breux said that despite the limited stock for sale, “quality properties in good locations will always find interested buyers”.
Belmore’s median house price rose 10 per cent to $1.65 million in the year to June on Domain data.
Most Viewed in Property
Loading
