A family moving from Queensland to Sydney were the successful bidders for a four-bedroom home in Hornsby Heights on Saturday, with the property going under the hammer for $2,131,000.
The single-level home at 27 Montview Parade had a guide of $1.8 million. The reserve was set at $2 million.
There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.
Eight bidders registered for Montview Parade, with five actively bidding. Bidding opened at $1.7 million. The property was one of 1121 scheduled to go to auction in Sydney this week.
Belle Property Upper North Shore sales agent, Sally Dodd, said the property was beautifully presented by the vendor, who was Dodd’s former property stylist, but still within reach of local buyers.
“[The vendor] totally styled it according to the character of the home and in a way that would appeal to Hornsby buyers,” said Dodd.
“We’re not Mosman or Neutral Bay – the record price here is $3.1 million and the average is $1.7 million.”
A range of buyers were attracted to this perfectly pitched property at Hornsby Heights.Credit: Domain
The successful bidders were a family attracted by the presentation of the home and the space afforded their caravan, said Dodd.
“It’s been beautifully renovated and there is nothing to do.”
The recent interest rate increase had impacted buyer confidence in the area, said Dodd, as had rising building costs.
“Buyers are a lot more cautious,” she said. “If a property has major objections, such as being on a sloping block, or it is in need of major renovations, it’s more challenging to sell.”
In Cronulla, a four-bedroom house, with one being lofted, sold for $3.6 million to a local couple.
The reserve for 10 Portsmouth Street was $3,585,000, while the price guide was $3.3 million to $3.4 million
Six people registered to bid, with three active after the opening bid of $3.4 million.
The successful bidders were a young couple who planned to move into the house before considering a renovation.
“They’re a young couple from Burraneer who have been living in Cronulla and have fallen in love with the lifestyle,” said Gibson Partners sales agent, Ivan Lampret.
“The underbidders were an older couple looking for something on a single level where they could walk to everything Cronulla has to offer.”
The backyard at 10 Portsmouth.Credit: Domain
The vendor is moving into aged care.
Lampret said the property on the peninsula just beyond South Cronulla Beach was in a lesser explored part of the suburb.
“I have been working in Cronulla for 33 years and a lot of people don’t know this area exists – it’s tucked away.”
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