Hundreds cram into front yard for the auction no-one wanted to miss

8 Warrane Place, Roseville Chase sold for record price for a home on less than 1000sqm in the suburb.

More than 200 people watched a new house in Roseville Chase sell under the hammer for a record $6.25m.

The underbidder only turned up drawn by the big crowd, but he promptly registered and helped bid up the price to the third highest in Roseville Chase and the highest for a home on less than 1000sqm.

Stefon Bertram, of Pello, said 22 contracts were handed out on 8 Warrane Rd and bidding opened at $5m at the weekend auction.

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It has an impressive street presence.

And a resort-style pool in the back yard.

There are five bedrooms.

“The first bid flew out of the gate before we had finished our opening spiel,” he said.

“Often you just hear crickets at the beginning of an auction but this one saw very fast bidding and it was all over very quickly,” he added.

The guide for the five-bedroom, four-bathroom home with pool on a 681sqm level block was $5.3m – way higher than the suburb median of $3.455m.

A local developer bought the original house on the block in August last year, knocked it down and rebuilt. The new owners are a family from Mosman.

Stefon said buyers loved the design of the home, the northern aspect, the pool visible from the house and the outdoor kitchen.

Outdoor dining.

Full of natural light.

“There has been confidence in the market since the election and after the second interest rate cut it was like someone had turned on a hose,” he said.

“We had old buyers from 12-18 months ago cycling back into the market with new buyers, so although stock is similar to last year there is now more demand,” he said.

Roseville Chase is one of Sydney’s most tightly held suburbs with only 2 per cent of homes changing hands in a year compared to 4.6 per cent turnover for Sydney as a whole – according to PropTrack.

The suburb record is $6.67m for a house in Lockley Pde on 1239sqm of land which sold in 2022 and the second highest sale is $6.4m for a house on Ormonde Rd on 4518sqm which changed hands last year.

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