A whopping 15 buyers registered to bid on the house and granny flat, which had no price guide due to its uniqueness, but only two owner-occupiers got a look in.
The sale price of a two-bedroom townhouse in Five DockHalf a dozen investors battled it out at auction on Saturday for a “holy grail” property in St Clair that sold under the hammer for $1,352,000.17&17A Rainbow Place
There were 15 registered bidders and nine active. Only two of the nine were owner-occupiers, the remaining investors from the inner west and bordering suburbs of St Clair. The St Clair property was one of 830 scheduled auctions in Sydney on Saturday. Borg said the property drew significant interest from investors during a three-week campaign due to the brand-new St Mary’s Metro.“We have launched around four properties in the suburb per week, and they’re selling. Even with rising interest rates, buyers still want an area where they can bury their money in the backyard, come back five years later and see that it’s grown. St Clair and the neighbouring suburbs are definitely on the radar.
Bidding opened at $1.4 million and rose in $20,000-to-$50,000 increments before it slowed down to $1000 bids.
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