Eastwood house bought for about £6000 sells for $2.565 million at auction | TawarRazaghi
The home was purchased for about 5000 to 6000 pounds in the 1950s, according to the adult children.
The auction of 8 Hunts Avenue, Eastwood that attracted 17 registered bidders, including developers, investors and owner-occupiers looking to build their dream home.The property, which had no price guide, had an entourage of 19 agents dressed to the nines working an auction floor that spilled across the road among parked cars – some of which, such as a Mercedes G Wagon, cost about as much as a house deposit.
After a theatrical back and forth, the home eventually sold for $2,565,000 to a young Carlingford family looking to build their dream house. The reserve was $1.98 million.The successful buyer Shawn, who declined to reveal his last name, said they had been watching the market for the past year. Cooleys auctioneer Michael Garofolo said tightly held properties such as this perform well regardless of market conditions.“Particularly in Eastwood, lucky number 8 given the demographic we’re dealing with, it doesn’t matter the price. They just want it and I think they know in the fullness of time, property prices will always come back,” Garofolo said.It was one of 572 homes scheduled to go under the hammer on Saturday in Sydney.
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