The final sale price of the house was also $290,000 more than its reserve price. The sale was one of 1136 scheduled auctions;the clearance rate was 70.2 per cent.
A renovated Artarmon home attracted scant buyer interest at first,but a cut to the price guide prompted a surprisingly good result.
The buyer and their parents are both selling their homes to live in this one together,rather than move further out of Sydney separately.
Buyers priced out of the housing market are competing fiercely for next-best options,agents say,on another red-hot Sydney Saturday.
Sydney home values are picking up,but the hottest competition isn’t where you’d expect.
A two-person bidding war broke out for the dilapidated five-bedroom house,pushing the price more than $2 million above the reserve.
Two cashed-up empty-nesters went head to head for the five-bedroom beachfront home,which was on the market for the first time in more than four decades.
The home was arguably the best in the building because of its top-floor position,north-facing aspect and parking spot.
Five parties competed at the Bellevue Hill auction,hoping to rebuild a dream home with harbour views on a street where some neighbours sold for $30 million.
Four parties registered to bid but the winner had only done a video inspection moments before the auction began.
More than a dozen buyers turned out to compete for the two-bedroom apartment,including an investor planning to buy the unit for his adult children.