A Hunters Hill home on the market for the first time in more than six decades sold for $4.47 million at auction on Saturday – and the buyers are now looking to tackle a costly renovation | Kate Burke
was one of 554 Sydney properties scheduled for auction on Saturday. By evening, Domain Group recorded a preliminary clearance rate of 50.9 per cent from 340 reported results, while 118 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
It will be a home for the new owners, a family from Ryde, following a carefully considered renovation that factors in the conservation components of the property, he said.The 740-square-metre property was a rare opportunity to secure a level block with city views in a tightly held pocket of the peninsula, Bagala said. Records show the home last traded for £4650 in 1956.
The first-home buyers outbid builders, investors and other home buyers for the keys. It was good news for the couple who were holidaying in Byron Bay and had family bidding on their behalf. The result was $10,000 shy of the $3.8 million reserve, but was well above the $1.8 million that records show the 930-square-metre block last traded for in 2015. A new home had been built on the block since.
He had been expecting five bidders, but two dropped off at the last minute, as they felt there would be better buying opportunities later this year.
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