Sydney real estate: Election day auction results

Elections didn’t stop many bidders from turning up at auction. Photo: Tom Parrish

While voters cast ballots at the polls, many homeseekers across Sydney were also casting bids for a new home.

There were 560 auctions scheduled across the Harbour City, a 29 per cent decrease from the same time last year, many still taking a punt on an election day auction.

RARE SLITHER OF BALMAIN LAND SELLS

A morning Balmain auction saw a slither of land, just 135 sqm, sell for a whopping $1.501m.

The auction had four registered bidders and was all over in three bids.

The land almost sold to the opening bidder until a last-minute bid came in for an extra $500.

The original bidder topped it with an extra $550, selling for $1,501,050.

Ray White Rozelle agent Belinda Cassano said she expected more interest in the rare opportunity to buy land in Balmain.

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The 135 sqm land sold for a whopping $1.501m

“There’s such a shortage of land in the area,” she said. “I think some people were deterred by the potential of council restrictions … but the vendors are very happy.”

The sellers owned the neighbouring house, previously using the block as a yard and car space.

The winning bidder was Charlie Chidiac, a local builder who planned to build a home for his children.

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“It depends on council restrictions what we end up building,” he said.

Mr Chidiac expected it would cost between $1m-1.5m to build the home. Depending on the height of the home, there was the potential of Harbour Bridge views.

ROSELANDS OWNER SELLERS TO HELP DAUGHTER INTO THE MARKET

A Roselands home selling for the first time in 45 years sold for $1.585m.

Selling above the owners hopes of $1.4m, the home sold to a builder who planned to knock down and rebuild.

Sellers and agents of 101 Ludgate.

Ray White Kingsgrove agent George Boghos said there were both owner-occupiers and builders interested in the property.

The auction at 101 Ludgate St attracted 11 registered bidders with seven of them actively bidding.

Mr Boghos said the vendor was selling to help her daughter get into the market.

“Because properties in Sydney are crazy (expensive),” he said.

He said the election hadn’t deterred buyers, “we’ve had really big numbers through our open homes today.”

A stunning Lewisham Federation home sells.

LEWISHAM FEDERATION HOME SELLS TO LOCAL FAMILY

A four-bedroom Federation home in Lewisham has sold for $3.25m.

Attracting four registered bidders, with all parties bidding.

The home at 36 The Boulevarde sold around the reserve price to a local family.

BresicWhitney’s Rhonda Yim

said the area was tightly held with the home selling for the first time in 30 years.

“People were concerned about how the election could impact the auction, but with a house like this it didn’t matter,” she said.

Inside the Lewisham home that sold for $3.25m.

CRACKER BALGOWLAH UNIT SELLS TO FIRST HOME BUYER

A two-bedroom unit in Balgowlah has sold for a whopping $1.56m to a first homebuyer.

The auction at 1/43 Jackson St attracted four bidders, with three actively bidding.

Lead agent Cunningham’s Georgi Bates said the location, ground floor and alfresco area were the biggest drawcards.

“It was quite little unit with a nice alfresco area,” she said.

“The buyer was there with his father and I sold his family home when he was six years-old and now he’s a first homebuyer.”

A two bedroom Balgowlah unit sold for $1.56m.

Auctioneer Clarence White said interest in purchasing apartments had been picking up over the past year.

“It’s so interesting at the moment, it’s a mix bag with which auctions will do really well,” he “And it’s not always the ones you think,” he added.

“I expect the interest in units is an affordability thing … anything 2.5m to $7m bracket has been the hardest bracket over the last few months as they’re borrowing quite heavily.”

CHERRYBROOK KNOCKDOWN SMASHES RESERVE

An unliveable Cherrybrook home has sold for $2.125m, more than $400,000 above reserve.

The home at 9 Francis Greenway Dr sold well above the guide and vendor expectations of $1.6m-$1.7m.

Its dilapidated state attracting a huge 20 bidders, both builders and owner-occupiers wanting to knockdown and rebuild.

Old Cherrybrook home sells more than $400,000 above reserve.

Louis Carr agent Greg Nicholson said the low supply in that price range and proximity to great schools was also a drawcard.

“Evidently, the election didn’t make a difference,” he said.

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