They weren’t money-hungry developers or investors, but young families buying homes at auctions in Sydney on the first weekend of November.
The dreary Saturday weather failed to deter the spirits of young families determined to put in a winning bid amid stiff competition.
Families led the day’s results, purchasing properties from terraces in Newtown to spacious six-bedrooms in Sutherland Shire.
There were plenty of cathartic moments as buyers finally found the end of their property search, some of which had lasted several years.
Ray White NSW head of auctions David McMahon highlighted today’s strong auction activity. “This is the first time this financial year that we have scheduled more than 200 auctions on a Saturday,” he said.
SOUTH
Home buyers Hayden and Emily celebrate their auction win in Mascot. Photo: 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 people attended at 28 Middlemiss St in Mascot, where Hayden and Emily celebrated the end of a difficult real estate journey.
Hayden said he was “very happy to have won” what he described as a “pretty intense, pretty stressful” auction.
The winning number for the couple was $2.55 million.
Bidding on the property started at $2.48 million, immediately clearing the $2.4 million guide for the three-bedroom home.
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Part of the public at the auction. Photo: Julian Andrews.
Selling agent Chris Skarlatos of The Agency said he thought this offer would blow the other bidders “out of the water.”
It was Hayden and Emily’s third auction in three months, having previously been outbid at the last second on two other houses in the area.
“We had a place we liked on a similar street and I thought we won it on the second call,” Hayden said.
“And then someone else came with a huge offer.”
“I promised myself it wouldn’t happen again after the first time.”
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The property sold for $2.55 million.
Mr Skarlatos admitted he thought the buyers would be out of the race, having previously seen them outbid.
“I had seen them at other auctions under 8 feet tall,” he said.
“But they told me recently that this was going to put them out of business because they were just overlooking it.”
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Auctioneer Bree Davis conducts proceedings at 28 Middlemiss St, Mascot. Photo: Julian Andrews.
The sellers of the house, Elias and Sarah, said it was “an incredible result”.
Sarah said they were hoping to reach the $2.4 million housing reserve, which was exceeded from the jump.
She talked about how happy she was when another young family bought the house.
“It’s so nice to have another family moving in,” she said.
“It will be a great family home.”
Sarah said the family moved west to be closer to their daughter’s new school.
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1 Harbor view point, Burraneer.
A huge six-bedroom house also went to a young family in Sutherland Shire.
Six bidders registered for 1 Portview Place, Burraneer, of which four were active.
The winning bid came in at $4.705 million, a price $1.305 million above the suburb’s median.
The successful buyers were a young family from outside the region.
Selling agent Tiffany Perez said buyers were excited to make the move to Sydney’s Sutherland Shire.
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The six-bedroom home sold for $4.705 million.
“They were a beautiful young family from out of the area,” she said.
“They are from Earlwood and were very happy with the result.”
The sale took place during a busy pre-Christmas market, with demand for quality homes on the Burraneer Peninsula remaining high.
“It’s that crazy rush before Christmas, there’s a lot of beautiful houses coming up and selling for great prices,” Ms. Perez said.
“The auction method continues to provide transparency and competition, which really contributed to this great result.”
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INNER WEST
31 Golden Grove Street, Newtown (centre).
It was the start of a new chapter for a first-time homebuyer after securing 31 Golden Grove St., Newtown.
According to Michael Harris, director of Raine and Horne Newtown, the couple had wanted to enter the property market for four years.
Fresh off The Block, auctioneer Tom Panos oversaw the $2.29 million sale, $109,000 more than the property’s guide.
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Tom Panos arrives at the auction. Image: supplied.
The Victorian-style terrace attracted 55 spectators, with seven registered bidders.
The bidding went back and forth between most bidders, including a builder, two young couples with children, a retired investor, a young couple without children and the home’s eventual winners, a first-time homebuyer couple from Waterloo who plan to move in and renovate their dream home.
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NORTH COAST
6 River Ave, Chatswood West.
A crowd of around 80 people witnessed a small property claim a huge result at an auction in Chatswood West.
The 569 sq m property at 6 River Ave was purchased for $1.908 million, a price of $408,000 above the original price.
The house also went to a young family, who competed with two other active bidders out of eight registered bidders.
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Eighty people were present at the auction of the house.
Ray White Upper North Shore sales agent Jessica Cao said the house was “a nice entry point” to the Chatswood area.
She added that the house could use some renovation, but said it was a “great opportunity” for someone who was “willing to do the work.”
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