Tense wait pays off for TV host

The Sunday Telegraph (Sydney) - - REALESTATE -

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.

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