logo
Sydney icon
icon Sydney icon
News & Insights
Inner West Suburban Auction Sets Record
Inner West Suburban Auction Sets Record Sydney
By   Fiona Killman, Real Estate Reporter
  • City News
  • Property Records
  • Australian Property
  • Property Transactions
Abstract: Sydney auctions have seen some stunning results, including an unfurnished 1970s unit selling for a record $2.4 million and setting a suburb record for the inner west.

A unit at 50 Whaling Rd, North Sydney, not only exceeded its reserve price by more than $400,000, but also set a record for the highest sale of the building.


The two-bedroom unit, which has been in its original state since the 1970s and is a deceased property, sold for $2.427 million at auction.


Louise Barton, a broker with BresicWhitney, said their team was shocked that the building's previous highest unit price was $2.025 million in 2022.

Inner West Suburban Auction Sets Record

We are thrilled with the result, she said.


We had five registered bidders, all of whom bid very high, and it came down to three. We had five registered bidders, and they all bid very well, and it came down to three, and it was a very competitive day," she said.


It was an original 1970s flat that needed a complete refurbishment, right down to the carpets. The key to the flat was the view and its location sandwiched between Neutral Bay and Kirribilli.

Inner West Suburban Auction Sets Record

Ms Barton said the bidding showed the strength of the North Sydney market, with the imminent opening of the metro and a greater choice of restaurants and cafes.


Meanwhile, Dulwich Hill broke a suburban record.


The sale of 16 Charis Avenue broke the record for the highest hammer price, selling for A$4.752 million, more than A$700,000 above the reserve price.

Inner West Suburban Auction Sets Record

BresicWhitney agent Rhonda Yim said four of the five registered bidders were active at the auction.


It was amazing, it was very unexpected," she said.


It was hard to predict that it would go for that price, and towards the end of the marketing campaign we were getting feedback that it was under $4 million," she said. It was a combination of a very competitive auction and the buyer's emotions about the home and the quality of the renovation. Houses like this don't come along very often.

Inner West Suburban Auction Sets Record

After attracting more than 100 buyers from all over Sydney to view the home, it was bought by a local family, she said.


The previous record was an off-market home on Hugh Ave for A$4.6 million.


A home in Rozelle also set an impressive sales record, selling for A$335,000 over reserve, with two of the bidders on the phone during the Rugby World Cup in France.


The four-bedroom home with a studio at 6 Charlotte Street sold for $4 million, with four of the six bidders bidding aggressively.

Inner West Suburban Auction Sets Record

Cindy Kennedy, an agent with McGrath Balmain, said the owners were ecstatic with the outcome of the sale of the home, which was built in 2001.


The home sold to a family attending the auction whose grown children were interested in the studio.


A home in Miranda, sold for the first time in 62 years, also sold for a whopping $1.689 million.

Auctioneer Andrew Cooley from Avenue Auctioneers said the home at 15 Doris Avenue received more than 100 inspections at the sale and had seven registered bidders.

Inner West Suburban Auction Sets Record

"The buyers were a young couple expanding," he said. It's a very popular area of Miranda."


Meanwhile, a terrace in Surry Hills also recorded a strong sale, with three out of five bidders actively competing in a heated auction.


The terrace at 358 Riley St, Surry Hills, sold for $2.8 million, some $300,000 above the reserve price.


Brokers Charles Touma and Cadan Hickey of the Ray White Touma Group said the buyer was a woman moving from South Coogee.


The home was popular because of its location and layout, and interested buyers ranged from young professionals to investors and downsizers.

Leave a message
icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
icon
Welcome to House.com
Log in or sign up to get the most out of your experience. This will also help increase your chances of response from agents.
Enter a valid email address.
or
Continue with Google
By submitting, I accept House.com’s   Terms of use
icon icon
Verify Your Email
Hello ,we’ ve just sent the code to your email.please check and enter the code here to continue logging in.
Verification code error
Didn’t receive email? Please check your spam folder
icon
banner
Inner West Suburban Auction Sets Record
icon Copy link
icon WhatsApp
icon Facebook
icon Twitter