It was not cashed up developers or investors but young families who snapped up homes at auctions across Sydney on the first weekend of November.
Some dreary Saturday weather could not deter the spirits of young families who were determined to place winning bids amid hefty competition.
Families were at the forefront of the day’s results, picking up properties from Newtown terraces to spacious six-bedders in Sutherland Shire.
Cathartic moments were abound as buyers finally found the end to their property seeking journeys, some of which had spanned several years.
Ray White NSW head of auctions David McMahon highlighted today’s strong auction activity. “This is the first time we have scheduled over 200 auctions on a Saturday this financial year,” he said.
SOUTH
Home buyers Hayden and Emily celebrate their auction win in Mascot. Picture: Julian Andrews.
Smiles were bright despite the gloomy weather as a young couple picked up their new family home in a cathartic auction moment.
A crowd of around 40 were present at 28 Middlemiss St in Mascot, where Hayden and Emily celebrated the end of an arduous property journey.
Hayden said he was “really happy to have won” what he described as a “pretty intense, pretty stressful” auction.
The winning number for the couple was $2.55m.
Bidding for the property opened at $2.48m, immediately clearing the three-bedroom home’s $2.4m guide.
MORE: Nine in 10 homeowners facing ‘mortgage nightmare’
A section of the crowd at the auction. Picture: Julian Andrews.
Selling agent Chris Skarlatos of The Agency said he thought this bid would blow the other bidders “out of the water.”
It was Hayden and Emily’s third auction in three months, having been previously outbid at the last second on two other homes in the area.
“We had one place that we liked at on a similar street and I thought we had won it at the second call,” Hayden said.
“And then someone else came out with a massive bid.”
“I made a promise to myself that it wouldn’t happen again after the first one.”
MORE: Worst place in Aus to own a pet revealed
The property sold for $2.55m.
Mr Skarlatos admitted he thought the buyers would be out of the race, having seen them be outbid previously.
“I’d seen them at other auctions cap out below 2.45m,” he said.
“But they told me the other day that they were going to go for broke on this one because they were just over looking.”
MORE: Bank’s brutal reaction to couple’s loan plea
Auctioneer Bree Davis conducts proceedings at 28 Middlemiss St, Mascot. Picture: Julian Andrews.
The home’s vendors, Elias and Sarah said it was “an unbelievable result.”
Sarah said they were hoping to achieve the homes reserve of $2.4m, which was exceeded from the jump.
She expressed how happy she was to see another young family purchase the home.
“It’s so nice that another family is moving in,” she said.
“It will make an amazing family home.”
Sarah said the family were relocating to the inner west to be closer to their daughter’s new school.
MORE: Chemist Warehouse kingpins splurge on $45m ‘holiday homes’
1 Portview Place, Burraneer.
Down in Sutherland Shire, a huge six-bedroom home also went to a young family.
Six bidders registered for 1 Portview Place, Burraneer, with four being active.
The winning bid came in at $4.705m, a price $1.305m over the suburb’s median.
The successful buyers were a young family from outside the area.
Selling agent Tiffany Perez said the buyers were excited to make the move to Sydney’s Sutherland Shire.
MORE: Inside wild interior of $5000 a day rental home
The six-bedroom home sold for $4.705m.
“They were a beautiful young family from outside the area,” she said.
“They are from Earlwood and were thrilled with the result.”
The sale came amid a busy pre-Christmas market, with demand for quality homes on the Burraneer peninsula remaining high.
“It’s that mad rush before Christmas, there are a lot of beautiful homes coming on and selling for great prices,” Ms Perez said.
“The auction method continues to deliver transparency and competition, which really helped drive this great outcome.”
MORE: North Shore mansion smashes price records
INNER WEST
31 Golden Grove Street, Newtown (centre).
It was the start of a new chapter for one first home buyer couple after securing 31 Golden Grove St, Newtown.
According to Raine and Horne Newtown director Michael Harris, the couple had been looking to get into the property market for 4 years.
Fresh from The Block, auctioneer Tom Panos oversaw the $2.29m sale, $109,000 over the property’s guide.
MORE: Beachside apartment has bargain price guide
Tom Panos arrives at the auction. Picture: Supplied.
The Victorian style terrace attracted a crowd of 55, with seven registered bidders.
Bidding went back and forth across most bidders, including a builder, two young couples with kids, a retired investor, a young couple without kids and the final winners of the home, a first home buyer couple from Waterloo who are intending to move in and renovate their dream home.
MORE: Big bank’s ‘heartless’ move as rate changes loom
NORTH SHORE
6 River Ave, Chatswood West.
A crowd of around 80 witnessed a small property claim a massive result at auction in Chatswood West.
The 569 sqm property at 6 River Ave was purchased for $1.908m, a price $408,000 over its guide.
The home also went to a young family, who competed with two other active bidders of the eight registered.
MORE: When Aussies could see their next RBA rate cut
Eighty people were present for the home’s auction.
Ray White Upper North Shore selling agent Jessica Cao said the home was “a nice entry point” for the Chatswood area.
She added that the home could use some renovating throughout, but said it was a “great opportunity” for someone who was “willing to do the work.”
English (US) · 