A five-bedroom home in Kambah sold under the hammer on Saturday morning after a fierce and competitive bidding war between three parties pushed the selling price to $982,000.
The residence at 32 Drysdale Circuit attracted a broad range of buyers during its auction campaign with many families inspecting the property, said selling agents Rick and Tina Meir of Hayman Properties.
Parties were drawn to the property’s location that backs on to the 13th hole of the Murrumbidgee Golf Course, its huge block of land at 1079 square metres, and the fact that the home was renovated while owned by the seller, who is downsizing.
Bidding kicked off at $800,000 and was countered with a $50,000 increase.
The price rose in varying increments of $25,000 and $5000 until it reached $950,000 thanks to three active bidders.
At $952,000, the home was announced on the market. From here, it came down to a two-horse race with the stride shortening to $2000, $1000 and one $500 offer.
The house eventually sold for $982,000.
“It was a little bit of summer tennis towards the end but two families really fought it out until the very end,” said Mr Meir.
“The eventual buyers had inspected the home about four to five times during the auction campaign and each and every time they fell in love with it more and more.”
Government records show the property last sold in 2014 for $690,000.
Speaking on the broader market, Mr Meir said Hayman Partners had been selling more homes prior to auction than before as buyers competed with the lack of stock.
He noted that, with the end of the year approaching, buyers would enter 2021 with more determination to purchase.
“We’re already preparing to list a few homes in the new year,” he said.
“You only get one shot at selling a property so it’s important that you make it count.”
Elsewhere, a four-bedroom house at 82 Barr Smith Avenue, Bonython sold at auction for $850,000, surpassing the reserve by $125,000.
Selling agent Jonny Warren of White Rhino Property described the atmosphere of the auction as “fun and light-hearted”, with a lot of tears shed at the fall of the hammer.
“Happy tears, of course,” he added.
A $680,000 bid kicked off proceedings and the price quickly made its way to the $850,000 mark thanks to five of the eight registered bidders.
“I had four registered bidders confirmed during the week and, come auction day, another four registered,” Mr Warren said.
“It goes to show how attractive the home was for many buyers. The house is propped on a busy road but that didn’t deter buyers, especially the eventual buyer, who will be relocating from Sydney.”
The home sits on 914 square metres of land and boasts a huge pergola at the rear of the home that could easily fit 60 people, Mr Warren said.
“We took some time to prepare the home before it hit the market, such as replacing the carpet, adding a fresh lick of paint and, of course, marketing it as much as possible,” he said. “Preparation is key.”
Mr Warren recently took home the REIACT Property Marketer of the Year Award.