Tense wait pays off for TV host
POPULAR television host Joe Hildebrand and his wife Tara Ravens were ecstatic about the sale of their two-bedroom home in Stanmore for $1.57 million.
The house at 32 Railway Ave attracted five registered bidders, with four of them taking part.
The property was one of 776 in Sydney scheduled for auction yesterday. With 475 results in late yesterday, CoreLogic recorded an early clearance rate of 65.26 per cent — about 6 per cent lower than last Saturday’s 71.24 per cent.
And the figure comes in well below that of the corresponding weekend in 2017, when the clearance rate was 78.52 per cent.
BresicWhitney head auctioneer Gavin Croft kicked off proceedings in Stanmore, accepting an opening bid of $1.3 million, with increments increasing by $25,000, $10,000 and $5000.
A knockout bid of $1.57 million was enough for the buyers to secure the home, with selling agent Chris Nunn, of BresicWhitney Glebe, describing it as a great outcome for both parties.
“If you look at the result today I don’t think it would have been any better six or nine months ago,” he said. “That is as good as it gets.”
A relieved Mr Hildebrand said his expanding family had outgrown the home and had a nervous wait because they had already snapped up their next property.
“We are very happy, we were hoping to get something around that mark,” he said. “We live to fight another day.”
The property sold $60,000 above reserve, had 62 groups through the inspections and seven contracts were issued.
It was a strong turnout, according to auctioneer Mr Croft, who had been seeing an average of 2.9 bidders at auctions throughout February. “The inner west has slightly more registrations compared to the eastern suburbs and outer-lying areas,” he said.
Over in Pyrmont it was the views across the city skyline that were enough to convince one buyer to pay nearly $300,000 above reserve for a one-bedroom apartment. At 803/24 Point St, 12 registered bidders and a crowd of 60 people turned up to watch the unit sell for a huge $1.394 million.
An opening bid of $1 million started the auction, with bids increasing in increments of $20,000.
Bidding slowed around the $1.2 million mark but the introduction of the eventual buyer at $1.3 mil- lion saw the auction kick back into gear, with a battle between two bidders right to the end.
There were a number of overseas buyers interested but it was a local who ended up with the keys.
Selling agent John Zheng, of LJ Hooker Pyrmont, said it was clear the prestige market was strong. “People are willing to pay more if the property is special,” he said.
“It is an amazing result and the owner is very pleased.”
It was an emotional farewell for the vendors of a house in Concord West, which sold for $1.746 million after 60 years in the same family.
The classic three-bedroom brick home at 2 Loch Maree Pde drew six registered bidders and had a $1.7 million reserve.
Dib Chidiac, of Raine and Horne Concord, sold the house with Lochlan Grahame, and said the key to selling in this market was setting a realistic price guide.
“That is the secret,” he said.
Loch Maree Pde at Concord West.
Joe Hildebrand and Tara Ravens (below) sold 32 Railway Ave, Stanmore.