It’s no secret the Sydney property market is on the boil
Everything is selling quickly, but some areas are hotter than others. Current demand is driven by low-interest rates and the changing needs of householders who no longer have to commute to work as they work from their home offices.
The soaring demand has seen many more sellers opt for an auction overselling by private treaty. However, auctions had become a growing source of anxiety for buyers.
- Empty ‘shell’ of a home in North Bondi sells for $5.7 million – The price for 181 Blair St, North Bondi home was more than $1 million above the reserve. A dozen buyers registered to bid, all builders or developers.
- Bondi Beach, a new Australian record was set when a penthouse 16/6 Notts Avenue, Bondi Beach sold for $20.1m. – the highest price ever paid for an apartment under the hammer.
- North Bondi deceased estate property at 122 Hastings Parade, North Bondi, attracted 20 registered bidders sells for $6.55m, more than $2m above the reserve, at auction.
- A four-bedroom home in 31 Reina Street, North Bondi has sold for a cool $6.1 million – a whopping $900,000 above reserve.
- 65 Bulkara Road, Bellevue Hill, sold for $16.08m. Two local Chinese buyers pushed the mansion more than $2m above the reserve.
- A designer home owned by the Sydney Football chairman Scott Barlow and his wife Alina has sold for about $40m — the highest price so far this year — and it’s not even on the waterfront.
- A Sydney inner-west home in need of a major renovation or a rebuild sold under the hammer for $6.9 million, an eye-watering $1.4 million above reserve.
The shortage of stock, the auction anxiety and the many unanswered questions have led buyers to hire buyer’s agents who can manage the process of finding and buying. At Ark Property Buyers Agent we find your property, and our principal architect Nathalie opens your eyes to the potential, the pitfalls and the costs involved before we negotiate and secure your home.
