Feng shui proved to be a valuable asset for an East Killara family who sold their home of 20 years for $820,000 over its $4.5m price guide
Selling agent William Chan from Marshall. Chan. Yahl. North Shore said the vendors had built the double brick house to have good Feng Shui – a fact that resonated with the 12 registered bidders, all of whom were Chinese.Five parties were active in the auction, which kicked off at $4.2m before moving in increments of $20,000.
The final stages came down to two committed buyers with a young couple looking to live locally winning the property. Auctioneer Clarence White from Menck White Auctioneers said the result was “a statement about this home, not about the market.” “It was a really nicely appointed home,” he said. “It’s in East Killara too, which is the prestigious end.”“Springdale is one of the best streets in East Killara,” he said. “The home was pretty much the perfect family home for a lot of people, with level land, a bush view out the back and solid construction.”He said properties above $5m were still selling well in the upper north shore, with many buyers in the region purchasing without a home loan thanks to a high level of family wealth.
“They’re either buying in cash or they aren’t very leveraged,” he said. “They’re not sensitive to interest rate rises and they are quite confident in their ability.”This compared to those buying “bread and butter” properties for $3m to $4m, who were more worried about their ability to withstand interest rate hikes.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ukraine latest: Volodymyr Zelenskyy visits frontline city, as Russian shelling intensifies in Ukraine's eastPresident Volodymyr Zelenskyy has paid another visit to troops on the frontline of Ukraine's war against Russia, praising soldiers holding forward positions as brave and hard-working, vowing the country will prevail.
Read more »
Australia's east coast through the worst of the energy crisis | 7NEWSAustralia's east coast is now through the worst of the energy crisis as more electricity is pumped into the grid. The Federal Energy Minister says we've 'turned the corner' but warned things can change at any minute. jenbechwati 7NEWS
Read more »
Hercules Estate in Byron Bay sells for $22m, equalling the record sale - realestate.com.auThe picturesque estate with conference facilities and a wellness centre took just seven days to attract the record sum, which took it off the market prior to its auction.
Read more »
Karen Ristevski: Avondale Heights house for sale after transformation - realestate.com.auThe Avondale Heights house where Karen Ristevski is believed to have been killed is on the market again — for more than $1m more than it sold for in 2020 following her death.
Read more »
Great Aussie rock ‘n’ roll sell-off: famous recording studio and iconic Bluesfest site up for grabs - realestate.com.auA famous recording studio founded by Powderfinger’s Bernard Fanning and Bon Jovi and Pearl Jam producer Nick DiDia, and the site of iconic Bluesfest are up for grabs.
Read more »
Safest and riskiest areas to buy property right now: how rate rises will affect various markets - realestate.com.auRising interest rates have split Sydney into two markets – a strong one for houses in one prominent region and a riskier prospect for much of the rest of the city, new research shows.
Read more »