Upsizing young couple win keys to eastern suburbs home for $2,665,000

A young couple won the keys to a three-bedroom home in Maroubra, paying $2,665,000 at auction, after first selling an apartment in a neighbouring suburb.

Five groups, all young couples and families, registered to bid for the three-bedroom property at 10 Curtin Street, with four active. It had a price guide of $2.4 million and a reserve of $2.6 million.

There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide. The property was one of 360 scheduled to go to auction in Sydney this week.

The successful bidders at the Friday evening auction were a young couple who had sold their apartment in Randwick earlier in the year. The weekend prior to the auction they had inspected seven properties. The Maroubra home was one they looked at earlier in their hunt.

A sales agent for NG Farah, Eva D’Angelo said the underbidders were a young family who had been renting in the street.

Bidding for the two-storey home, which has been held by the same family for 66 years, opened when two parties raised their paddles simultaneously.

One bid $2.3 million and the other $2.4 million, with the higher offer accepted by the auctioneer. Bids went up in increments of $50,000 and $20,000, as it quickly came down to two parties.

When the hammer fell, some locals who witnessed the auction approached the winning couple, welcoming them to the neighbourhood. The house is within walking distance of the beach.

“It was really nice – felt like what auctions used to be like,” D’Angelo said. The property was sold by two brothers on behalf of their mother, who is in aged care.

In Hornsby, a vendor bid of $2.2 million kicked off the auction for a three-bedroom home offered for the first time since it was built in the 1970s.

Three bidders were expected for the auction of 2 Laurel Close on Saturday morning, but one did not attend.

When a bid of $1.9 million was rejected, the second bidder, who had not put in an offer, withdrew from the auction.

A sales agent for Stone Real Estate, Adam Noakes, then discussed directly with the sole bidders, a local family upgrading from a two-bedroom apartment.

The property sold under the hammer for $2.24 million. It had a price guide of $2 million and a reserve of $2.2 million.

Noakes said the family were attracted by the size of the block and its position in the Hornsby North Public School catchment.