Sweet treats for sell­ers

The Sunday Telegraph (Sydney) - - NEWS -

HOME sell­ers are be­ing re­warded with prices well above re­serve as low list­ing vol­umes fun­nel large groups of buy­ers into con­tention for the same prop­er­ties.

Only 440 homes went un­der the hammer yesterday — about a fifth less than over the same week­end last year and well below the longterm trend for sales vol­umes at this time of the year. The con­di­tions en­cour­aged par­tic­u­larly ag­gres­sive bid­ding in the in­ner west, where a two-bed­room house on Roberts St in Cam­per­down sold un­der the hammer for $1,667,000.

The price was $217,000 over the re­serve and about $450,000 above the orig­i­nal price guide, which was in­creased prior to the auction due to un­ex­pect­edly high in­ter­est from buy­ers, ac­cord­ing to sell­ing agent Nicholas Viewey.

The Viewey Real Es­tate prin­ci­pal showed more than 150 groups of keen buy­ers through the home in the lead-up to the auction and is­sued 40 con­tracts of sale. Buyer turnout at the open for in­spec­tions was so high it en­cour­aged a group of neigh­bour­hood kids to set up a lemon­ade and cake stand at the auction, com­plete with a wooden cash regis­ter. The $3 treats on of­fer in­cluded home-baked brown­ies and muffins.

The par­ents of chil­dren Scar­lett Ryan, 5, Charlee Pot­ter, 9, and Reghan Pot­ter, 5, joked that the money would be go­ing into a fund for the chil­dren so they could save home de­posits.

There were plenty of po­ten­tial cus­tomers at the auction, in­clud­ing 13 reg­is­tered bid­ders and a crowd of about 70 on­look­ers strad­dled on both sides of the street.

Auc­tion­eer Ricky Briggs re­ceived an open­ing bid of $1.4 mil­lion and the of­fers quickly sur­passed $1.6 mil­lion as eight of the reg­is­tered buy­ers threw their hands up to bid.

The even­tual buy­ers were a cou­ple who had been un­lucky bid­ders at five previous auc­tions. Their fi­nal of­fer of $1.667 mil­lion was met with cheers from the crowd and a free cup of lemon­ade.

Buyer Jaye O’Dwyer said it was a re­lief to fi­nally end their prop­erty search. “We had been liv­ing over­seas and then with my mother-in­law for a year so it was time for us to buy,” he said, adding that they had orig­i­nally been seek­ing out homes on the lower north shore but de­cided to scale down their bud­get and change to the in­ner west. “(The price) was still way more than we ex­pected,” Mr O’Dwyer said.

In Li­ly­field, a two-bed­room house sold for $1.301 mil­lion, roughly $100,000 above the price guide, in tragic cir­cum­stances.

Both own­ers of the prop­erty at 178 Li­ly­field Rd passed away dur­ing the mar­ket­ing cam­paign. Their deaths oc­curred within two days of each other.

Auc­tion­eer Damien Coo­ley re­ceived an open­ing bid of $1 mil­lion and there were 50 bids placed from 11 reg­is­tered bid­ders.

Scar­lett Ryan, Charlee and Reghan Pot­ter and (below) Jaye O’Dwyer and mother-in-law Lisa at the Roberts St house. Pic­ture: David Swift

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