Onlookers who gathered to watch the worst house on Vaucluse’s best street left in total disbelief after it sold for $2m above reserve.
The two-bedroom semi-detached described as a doer-upper with no off-street parking attracted nine bidders including Jackie O’s ex, Lee Henderson.
Sydney Sotheby’s International Realty agent Michael Pallier said the auction for 10 Coolong Road took off from the start with a number of parties making plenty of big and bold bids.
The property was snapped up for $5.5m, with sources confirming the buyer was PPD Real Estate agent Alexander Phillips. Fellow bidder Henderson, who is looking for a home of his own after splitting from Jackie O in 2018, did not make an offer on the property during the auction.
Mr Pallier said everyone from himself to the seller and the crowd were shocked at how much over the reserve price it sold for.
“No one could believe the result – the silence was deafening when the hammer fell,” he said.
“For a semi-detached with no parking to sell for that sum is simply unbelievable.”
Owned by the same family for 45 years, the semi-detached is on the same street where Vass Industries founder Nicholas Vass sold his mansion on Sydney Harbour last month for $34m. Throughout the campaign, Mr Pallier had more than 300 buyers inspect the northeast facing home that has glimpses of the harbour.
“I’ve never seen a better market than right now – great homes are strongly contested at the moment,” he said.
Buyers who looked at the semi were attracted to the potential to do it up and add a second floor.
Also in the east, first-home buyers paid $182,000 above the reserve for an original two-bedroom semi at Kingsford.
No. 98 Sturt Street sold for $1.432m after it attracted 15 registered bidders. Ray White’s Roger Wardy said the property was so popular they moved the auction forward by a week.
The dream of living near the beach has become reality for an out of area family after they paid $3,999,500 at a thrilling Manly auction.
The result of 53 Darley Road was well above the reserve and came after three parties from across Sydney registered to bid. Bidding opened at the $3.6m mark and rose mostly in $100,000 increments before finishing up with half a dozen $500 bids.
Clarke & Humel principal Michael Clarke said the buyer was after a large block with a good lifestyle.
“We’ve never had so many buyers from across Sydney to Manly,” he said. “It is all about COVID-19 and wanting to live somewhere with a lifestyle.”
The “new normal” of working from home has meant an Earlwood couple had no choice but to sell their townhouse.
It paid off, with their two-bedroom home selling for $957,000 in a cracker.
Up against five bidders, a local couple who had been to five auctions and kept missing out walked away with the keys.
Seller Jeremy Cook said he and wife Sarah were forced to sell due to the property not having enough space for both of them to work at home.
“I am at the dining room table working, and she is in the bedroom, so I have to pack up every night so we can eat dinner,” he said.
8/19-25 Flinders Rd was sold by Ray White Belmore director Dean Vasil.
In neighbouring St Peters, 41 Frederick St sold $75,000 above expectations for $1.175m.
Ray White’s Ercan Ersan said both bidders were first-home buyers.
He said first-home buyers had overtaken investors to be the dominant force at the lower end of the market.