Street record squeaks in
THE “perfect” family home in a tree-lined street in Randwick sold for a street record yesterday of $3.54 million.
But nothing’s ever quite perfect — the heady days of excited, happy buyers falling over themselves to bid appear to be over.
It took some skilled operators to offload the four-bedroom Californian bungalow at 1 Monmouth St, Randwick, owned by the former head of franchise at McGrath, Gary Vouris, and the result was just $40,000 above its reserve. The Agency’s auctioneer, Thomas McGlynn, faced three hard-faced active bidders. The opening offer for the home that “ticked all the boxes” was $3.2 million, from a Bellevue Hill woman and her son.
“This is cheap and cheery at this level — can I say $3.3 million,” McGlynn asked.
When the next bidder offered $3.25 million, he tried again. “Would you make it 3?” No, $3.25.
Luckily, the first bidder clearly had the dollars and he immediately got to his $3.3 million.
During the next long pause, McGlynn advised his audience to “breathe for a moment — give everyone a moment to think things through”.
He looked ready to pass the property in, but the second bidder’s offer of $3.35 million came “right on the death knock”. There were several more pauses, too, with McGlynn at one point reminding the gathering: “I need to know if you’re in or out … otherwise it’s back to realestate.com.au, back to the Wentworth Courier.”
Things got moderately exciting for a few ticks when the third bidder entered the race. And after a few more words of encouragement from McGlynn — “I don’t want you to have deep regret”; “there’s no second prizes”; “seize the moment” — it was all over.
And surprise, surprise, it was the cashed-up buyers from Bellevue Hill who won the day. Mr Vouris said he was “very satisfied” and his wife Paula agreed, adding that a $30,000 freshen-up had “made a huge difference”.
The last sale in the street was $2.475 million for a two-bedder on a 310sqm block in March. Mr Vouris’s home was on a 338sqm block.
The Agency’s Ben Collier said the price guide in the Agency agreement was $3.2 million to $3.5 million, so they’d exceeded that.
There were 766 auctions scheduled for across Sydney yesterday. With 669 of the results collected by last night, CoreLogic put the clearance rate at 70.36 per cent.
Yesterday’s auction at Monmouth St, Randwick. Picture: Tim Hunter