A North Sydney townhouse was auctioned for $2.4 million on Saturday. It was purchased by a family upsizing from a nearby suburb.
This four-bedroom, two-bathroom residence, located at 4/50-60 Clark Road, had a price guide of $2.3 million. Additionally, the reserve was set at $2.4 million.
The property, conveniently close to the new metro, attracted three registered bidders. Notably, all were families looking to upsize.
Initially, the auction opened with a bid of $2.2 million. Then, bidding increased in $25,000 increments between two active buyers for most of the event.
However, there was a brief pause in the bidding. Consequently, negotiations took place until the auction concluded at $2.4 million.
According to records, the home last sold for $2.22 million in 2022. Furthermore, it was one of 398 scheduled auctions in Sydney that Saturday.
Nicholas Christou and Louise Barton from BresicWhitney Lower North Shore managed the sale. This townhouse stood out among the numerous auctions in Sydney that day.
Barton noted significant interest from upsizing families, downsizers, and a few investors during the campaign. Nevertheless, only upsizing families decided to bid on auction day.
She emphasized that interest in the property stems from the new metro line. This line connects Chatswood in Sydney’s lower north shore to Sydenham in the inner west.
“The new metro is certainly making a difference in the area,” she stated. “It’s incredibly convenient, allowing access to Barangaroo in just three minutes from North Sydney.”
Additionally, she explained how perceptions of the area have shifted over time. Once considered quite commercialized, it has transformed into a desirable lifestyle suburb.
More families are now seeking to move into North Sydney, as opposed to the previous investor-driven demand. This change highlights the evolving appeal of the neighborhood.
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“We’ve noticed that property demand varies significantly. However, if you have an experienced guide, many buyers remain interested,” she stated.
In Frenchs Forest, young couples competed fiercely for a three-bedroom, one-bathroom home. Ultimately, it sold under the hammer for $2,282,000.
The residence at 4 Comeroy Crescent attracted nine registered bidders. Moreover, there were four active bidders, leading to intense competition among three young couples.
Ultimately, the property was sold to a young couple. They are believed to be in their thirties and reside in Chippendale.
According to David Hayden from Stone Real Estate Forest, the winning couple attended the auction alone. Notably, no family members were present.
The property was initially guided at $1.95 million. However, the reserve was set at $2.15 million, which could be adjusted if necessary.
An opening bid of $1.9 million was made first. As bidding progressed, increments narrowed down to $1,000, reaching the $2.27 million to $2.28 million range.
In the end, the young couple made a decisive final bid of $2,000. This final bid ultimately sealed the deal for them.
