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Amanda Sheppeard 8 Jul 2021
Big result – 23 Hope St, Pymble.
The Sydney-wide Covid lockdown might have put the brakes on auction markets in some parts of the city – not so on the upper north shore.
Last week yielded a 96 per cent auction clearance rate – even better than the 92 per cent clearance rate from the week before when the market was still operating normally.
In Chatswood, the agents running an online auction for an original cottage had so many bidders they had to set up two computer screens to accommodate them all.
Darrin Agius, of LJ Hooker Maroubra, had 24 registered bidders wanting to buy the four-bedroom cottage on 570sqm at 46 Macquarie St.
The home, which is in original but immaculate condition, was offered to the market with a guide of $2.5 million to $2.7 million. it was the first time in about 60 years the home come up for sale.
No. 46 Macquarie St in Chatswood.
Young couples and families looking to renovate dominated the bidding pool, and four fought hard until the bids hit $3.1 million.
Then it came down to two bidders, until the hammer fell on $3.32 million – $620,000 above the reserve. It was also the third top auction result as reported by realestate.com.au.
He said the vendors were “extremely happy” with the result, that had exceeded their expectations.
BIG PYMBLE SALE
The second top reported auction result of the week belonged to a seven-bedroom north shore classic at 23 Hope St, Pymble.
The three-level home is set over three levels and sits on a 2127sqm block with dual gated entrance, sweeping driveway and full-brick period appeal.
It was due to be sold last Saturday, through Rowan Lazar and Graeme Schultz, of Ray White Upper North Shore, with a guide of $6 million.
23 Hope St, Pymble.
In the end, the home didn’t make it to auction, selling a few days early for $6.05 million.
It’s not a bad return for the vendors, who bought their substantial home in November, 2015 for $4.3 million. In the time they have owned it they have done nothing substantial to the property, Mr Lazar said.
“It does require a facelift,” he said.
Pymble continues to go from strength to strength when it comes to house sale prices. According to the latest realestate.com.au Market Trends report, the suburb’s median house price has growth by a whopping 48 per cent in the past three months.
Mr Lazar said the strong growth offered the suburb good insulation against any negative impact from the Covid-19 lockdown.
Up until last week there were only four houses in Lane Cove West to have sold for more than $3 million.
Now there are five, following the $3.1 million sale of a three-bedroom house at 8 Currawong Ave. The renovated home sold in its first week with Tim Holgate and Kevin Fattouh of Belle Property Lane Cove.
They had set an initial price guide of $2.65 million for the property.
8 Currawong Ave, Lane Cove.
Mr Holgate said the sale price was very strong.
“Once we got the offer from the successful purchasers, it was game over for everyone else,” he said.
“The property sold quickly because it’s a beautifully renovated house on a low maintenance block in one of Lane Cove West’s best streets.”
The vendors are expats Brett and Anne Cooper, who have lived in Singapore for the past two years, and have owned the property since March 2007.
“True to our country roots, we had always intended to make a treechange upon our return to Australia,” Mr Cooper said.
“The challenges and opportunities brought about by Covid have helped us come to the decision that now is the time to do so.”