It was a bittersweet end to an auction in Sydney’s south west this morning with the sale of a Belmore home that had been in the same family for just over 60 years.
The three-bedroom home located at 32 Chalmers Street sold to a winning bid of $1.75m, a result that was $253,000 over its $1.5m reserve.
On Saturday morning, vendor Wilma Punnett and three of her four children, Craig, Bronwyn and Melissa, were celebrating the sale of the property that had encompassed six decades of memories.
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The auction on Saturday morning at 32 Chalmers Street
Purchased in 1962, it was a family decision to sell.
“My father passed three years ago,” Craig Punnett said, adding it was originally a two-bedroom home when the family first purchased.
“There were four kids in one room and mum and dad in the other, a traditional 70s extension went on and we just sort of stayed,” he said.
As the home’s vendor, Ms Punnett said it wasn’t an easy decision to sell.
“We’ve been here forever,” she said.
Ms Punnett and her husband had one child when they first moved into the house, followed by three children in later years.
According to Ms Punnett, the location of the home was a family-friendly, safe community in proximity to schools where they knew their surrounding neighbours.
Craig, Bronwyn and Melissa with their mother and vendor of the Belmore home Wilma Punnett
There was an emotional touch to the final result of the auction.
“I think dad would have been surprised” Bronwyn Punnett said.
With 15 registered bidders the auction began with the opening bid of 1.4m.
Auctioneer Tony Roumanous, director of Ray White Bankstown shared some insight to the auction and market.
“The interesting thing was that is was really just those two or three premium buyers,” he said.
“I think at the moment, its supply and demand realistically.
“Stock levels are starting to increase now coming into spring.”
Lead agent Jordon Le Breux of Ray White Bankstown said it was a very good result.
“It was a bit of a surprise, they weren’t expecting that at all ,” Mr Le Breux said.
“It was a really good turn out and there was good competition.”
According to Mr Le Breux, the location of the home was one of the driving factors for most of the interest to the property.
“There’s not much that comes up in this kind of spot,” he said.
“ Its 800m to the station.
“I think Belmore’s also coming up in the world with its shops and culture and everything like that.”
1 Park Avenue, Bexley sold $140,000 over its reserve
This Bexley home sold for $1.94m, $140,000 above its $1.8m reserve.
With six registrations and three active, lead agent Luke Lombardi of Pulse Property Agents Sutherland Shire said 1 Park Avenue was a fantastic result for the heritage home.
“There was fierce bidding throughout the whole auction,” he said.
“It outperformed non-heritage homes in the area, it had a lot of charm and was built in 1913.”
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104 Wigram Road, Forest Lodge sold for $2.39m
An inner west property sold for $2.39m, which was $291,000 over its initial guiding price of $2.1m.
Lead agent Matthew Carvalho director at Ray White Erskineville, Alexandria, Glebe and Surry Hills said the auction for 104 Wigram Road, Forest Lodge was brought forward from the end of the month due to eager interest.
“After being on the market for two weeks it was in line or slightly more than where we thought it might land,” he said.
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