$9 million suburban auction deal shocks community,
“Shock” swept through Sydney sellers after an astonishing $9.2 million suburban auction deal took place recently.
This amount is notably $1.2 million above the reserve price, reflecting the competitive nature of the market.
The property, located in Warrawee, is about 17 kilometers from Sydney’s city center, making it a desirable area.
It sold under the hammer over the weekend, leaving the owners pleasantly surprised by the final sale price.
A family already residing in the area won the keys to the property, marking a significant milestone for them.
The vendors, meanwhile, are moving to the inner city, where they plan to settle by the water.
Ray White agent Michael Dempsey shared insights from the agency’s auction report regarding what attracted buyers to this property.
He noted that the schools in the area were a major draw for buyers seeking more spacious homes.
“The appeal of this home was its proximity to schools, its huge size, and the beautiful view over Gillespie Fields,” Dempsey stated.
Additionally, the sellers, who have lived there for 30 years, have decided to downsize to Barangaroo.
They are still in shock over the impressive auction result, which exceeded their expectations significantly.
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Four bidders competed for the property, while 120 groups visited during the campaign leading up to the auction.
The auction took place on the poolside terrace, with spectators gathering on grand balconies that overlooked the event.
The mansion, named Bryn Maw, was built in 1932 and showcases all the classical hallmarks of that architectural era.
Notable features include a decorative staircase in the entry foyer, French doors, and curved feature windows enhancing its charm.
Additionally, vast terraces provide stunning views of the verdant grounds, complemented by a water fountain and a home office.
The property also includes a gym, a games room, and a spa in the main bedroom’s en suite for added luxury.
Warrawee is located on the city’s upper north shore and is tightly held, limiting Domain sales results for median prices.
The clearance rate in Sydney reached 64 percent, according to results reported by Domain, indicating a competitive market.
