Auction Action

24 Apr 2019

There was plenty of action at last Saturday’s auctions with some excellent results for properties going under the hammer. With six registered buyers on the day, the beautiful Victorian manor at 48 Arden Street, Clovelly sold for $4.44m achieving $140k above the reserve. The handsome terrace at 100 Great Buckingham Street, Redfern sold under the hammer for $2.15m with eight registered buyers and Daniel Cachia’s listing at 48 Middle Street, Kingsford sold for $2.6m, $100k above the reserve price.

On Tuesday night, Sean Poche’s listing at 27/7-17 Cook Road, Centennial Park also fetched an excellent price at auction selling for $1.07m, an impressive $170k above the reserve. Sean says, “We’re finding that there are plenty of active buyers in the market at the moment which is bringing a healthy amount of competition. We had 80 groups through the two-bedroom Centennial Park apartment over the four-week campaign. The auction was fast-paced with spirited bidding from the four registered buyers on the day all of whom were owner occupiers looking to secure a quality home in a top lifestyle location.”

Further to last week’s newsletter, we’re predicting that late May and early June will be an excellent time to sell. With the high demand for quality homes and an active buyer pool bringing healthy competition at auction, we recommend listing before winter to secure the best result.