Sydney auctions: 17 bidders send Abbotsford house $650k over reserve

Real Estate

No. 14 Irene St, Abbotsford, sold at a virtual auction for $4.4 million.

An inner west brick house with renovated ­interiors sold at auction for $1.4 million more than what it was purchased for just over two years ago.

The incredible result came on a strong auctions weekend across Sydney, which experienced its third weekend of citywide virtual auctions.

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CoreLogic reports Australia’s largest city had 863 auctions scheduled for this weekend — 221 fewer than last weekend.

Real Estate

The block size and location near the water made 14 Irene St very popular.





The Abbotsford house sold to a buyer planning to knock it down and build a duplex for $4.4 million, which was $650,000 above the reserve.

Belle Property Drummoyne’s Antonio Ariola had 17 registered bidders from across Sydney who were looking to either move into 14 Irene St as it was or build a new residence.

“The rarity of this house and its land size near the water made it very desirable for buyers,” he said.

Mr Ariola said virtual auctions had become the “new normal” with buyers prepared to pay prices seen at in-person events in the weeks prior to lockdown.

“If the process is run smoothly then it doesn’t if it is onsite or online, buyers are prepared to top dollar at auction,” he said.

Real Estate

The owner will build a duplex on the site.

Real Estate

Auctioneer Clarence White had 13 bidders on Loft 1/6 Thames St, Balmain.

“The shortage of quality stock has seen buyers continue to do what it takes to buy in this market.”

Thirteen bidders competed on a one-bedroom loft located inside the former Christian Brothers school grounds at Balmain.

The strong competition saw the unit sell for $315,000 above the guide at $1.19 million to a local owner occupier. It was sold by Ray White Balmain’s Benjamin Martin who said demand has dropped off in the market since lockdown.

Ray White Surry Hills director Ercan Ersan today sold 62a Neville St, Marrickville for $2.31 million with three active bidders during a fast and furious online auction.

Real Estate

No. 20 Lachlan Ave, Sylvania Waters, sold $735,000 above the reserve.

The auction opened at $2 million and the reserve was $2.2 million. It was sold to a young family who were upsizing from a townhouse in the same suburb.

In Sydney’s south, an outdated deep waterfront property was offered to buyers for the first time in over 40 years.

Auctioneer Andrew Cooley said 20 Lachlan Ave, Sylvania Waters, sold $735,000 above the reserve at $3.435 million following an auction with 16 registered bidders.

A total of 51 bids were placed throughout the event, with it selling to a buyer planning to live in the property for a while before knocking it down and building a dream house.

The selling agents were Adrian Dodd and Norman Noner of Honer Dodd Realty.

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