The family were the only registered bidders at the hour-long auction, where they bid against themselves three times to get a deal done.
A Chatswood home sold for $2,725,000 – some $725,000 above its reserve to locals who plan to knock it down.A set of Mosman grandparents have bought a mansion in the suburb with their adult children for $9,697,000.2 Ryan Avenue
Pello Lower North Shore’s Max Thurkettle declined to share the reserve, however, said there has been a growing trend of existing local families securing additional properties for their extended family.“We’re seeing a large number of familiar faces in the suburb that are securing properties for their children, for their parents, extending their family into the roots of Mosman.”with plans to land bank the weathered home.
Ray White Drummoyne selling agent Mario Carbone said the waterfront auction drew a lot of curious long-standing residents in the area. Oliver said there is a high likelihood that the interest rates will increase again Tuesday week, acting as a dampener on the property market. “What sparked these buyers to fight so hard for this home was the 1195 square meters of land. It has a very ordinary house on it, but it’s got very nice ocean views and that’s unique here… there are only a few houses like this in the street.”sold for an unexpected $725,000 above its $2 million reserve.
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