Eight bidders fought for a Sydney house at auction on Saturday, selling to a family under the hammer for $2.595 million after the fast-paced sale drew intense buyer interest.
The four-bedroom house in Castle Hill attracted 18 registered bidders, with eight actively competing as the price surged from a $2 million opening in just 11 minutes.
It had been in the sellers’ family for 60 years, marking an emotional sale for the vendors.
Demand was driven by the home’s zoning options, parkfront position and proximity to the metro and other amenities in one of Sydney’s most searched suburbs.
The property: The four-bedroom, two-bathroom house at 122 Cecil Avenue, Castle Hill sold at auction $2.595 million on Saturday 2 May.
The Castle Hill property sold under the hammer for $2.595 million. Picture: realestate.com.au/sold
The neatly presented home sat on a 696 square metre property, situated directly opposite Greenup Park and close to shopping and public transport.
Suburb snapshot: Castle Hill is 34 kilometres north-west of the Sydney CBD and is sought after for its array of property types, Castle Towers shopping centre and the Metro train station.
The winning buyers are upsizing and want to be closer to their kids' school. Picture: Supplied
Castle Hill is one of the most popular suburbs in Sydney, and was the most researched location in the city on property.com.au last year.
The current median price for a four-bedroom house in Castle Hill is $2.445 million, up 6.3% over the past 12 months, according to PropTrack data.
Real estate agent Daniel Llamas says Castle Hill is a popular location for many buyers. Picture: Supplied
Selling agent Daniel Llamas of Ray White Castle Hill oversaw the campaign, and spoke to realestate.com.au about the result.
What’s special about this property?
People wanted it for a lot of different reasons. The house was more than 20 years old, which is new for that area. Most of the houses there were built in the 1960s and ‘70s. There were a few people who were interested in knocking it down.
A formal lounge and dining zone provides ample space to entertain. Picture: realestate.com.au/sold
It was also zoned for building a duplex. And it was located opposite a park and within walking distance of the Castle Towers shopping centre and the metro train station.
What happened during the campaign?
It was a tricky one because we had Easter and then Anzac Day, so it was a little bit longer than four and a half weeks.
A separate family and meals area is bright and airy. Picture: realestate.com.au/sold
We had about 130 families through in that time which are huge numbers.
How did the auction go?
We had 18 registered bidders and eight active bidders. The auction started at $2 million and then flew very quickly from there. It was all over in about 11 minutes.
The neat kitchen comes with significant storage and overlooks the backyard. Picture: realestate.com.au/sold
The successful bidders were a family who were upsizing and wanted to be closer to the kids' school. They will knock it down and build a new home.
Were you surprised by the result?
I wasn't surprised with the result. I was surprised by the number of people we had through the campaign because other auctions we have had are getting two or three bidders.
The main bedroom has walk-in robes, ensuite and front garden views. Picture: realestate.com.au/sold
The home had been in the sellers’ family for 60 years, and the four siblings were selling after their mother passed away. So it was quite an emotional sale.
What type of buyers did you see through the campaign?
A lot of them were upsizers coming from smaller homes looking to upsize in the area.
The home offers a neat central bathroom and a main bedroom ensuite. Picture: realestate.com.au/sold
The three final bidders all wanted to knock it down and rebuild, with one wanting to build a duplex and two wanting to build a home to live in.
What are you seeing in the market at the moment?
Buyers are very cautious at the moment. No one knows what's going to happen around the corner, so we're seeing buyers be quite cautious.
The home is situated on a 696sqm block in the sought-after suburb. Picture: realestate.com.au/sold
But it’s the perfect time to upsize. A lot of people are calling me from the area who are looking to go to bigger and better properties such as acreage or the North Shore.
Predictions for this area?
Castle Hill has always been a strong area. It’s the hub district of the hills really, so anything close to the metro and Castle Hill High School catchment area is always going to perform well.
Obviously, there are peaks and troughs. I’ve been an agent for 21 years, so I’ve seen a lot of things, but it’s always been strong.
English (US) · 