Couple pay $3.36m at auction for ‘entry-level’ home in elite suburb
A couple with an adult son from southern Sydney paid $3.36 million at auction on Saturday for a single-level brick home in the affluent suburb of Roseville.
The four-bedroom property at 10 Archbold Road was guided at $3 million and had a reserve of $3.3 million. There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.
The home features an entertainer’s kitchen with Calacatta marble and bifold doors that open to a deck and garden retreat. Hardwood floors, plantation shutters and designer lighting give it a modern feel.
Of four registered bidders, three took part. Bidding opened quickly at $2.9 million and rose in varying increments.
The property was one of 726 scheduled to go to auction in Sydney this week. By evening, Domain Group recorded a preliminary auction clearance rate of 72.5 per cent from 451 reported results throughout the week, while 64 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
The buyers had been house-hunting for a year and were drawn to the property for its low maintenance. They outbid a couple with a young son from Pennant Hills who liked the proximity to Roseville Public School.
Ray White Upper North Shore’s Jessica Cao said the main appeal was the price point.
“It’s entry-level for Roseville and doesn’t require any work – it’s ready for buyers to move in,” she said.
Roseville’s median house price rose 3.3 per cent to $3,944,500 in the year to June on Domain data.
Cao has noticed more people attending open homes this winter, as well as strong bidding at auctions.
“Buyers want to get in now, ahead of a further rate cut, and are taking action,” she said.
In Earlwood, a couple who had recently sold in Concord paid $2.71 million at auction for a two-storey brick home with pool, patio and cabana at the rear.
The four-bedroom property at 26 Fuller Avenue was guided at $2.2 million and had a reserve of $2.4 million. Timber floors, plantation shutters and a neutral palette adorned the interior.
Five bidders registered, and all of them took part. Bidding opened at $2.3 million and rose in varying increments.
The buyers outbid upsizers from Hunters Hill, Five Dock, Sydenham and Petersham. Adrian William Real Estate’s Namir Mikha said buyers were drawn to the home’s styling, colour scheme and layout.
Records show the property last sold for $1,651,000 in 2020. Earlwood’s median house price rose 1.8 per cent to $2,107,500 in the year to June on Domain data.
In Neutral Bay, a first home buyer couple from Mosman paid $1.52 million at auction for a ground-floor apartment.
The two-bedroom property at 2/40A Barry Street was guided at $1.3 million and had a reserve of $1,475,000.
The apartment, in walking distance of shops and city buses, comes with a garden courtyard that McGrath Lower North Shore’s Jon Snead said was “rare and highly sought after”. It also boasts whitewashed walls and a modern kitchen and bathroom.
Four bidders registered, and all of them took part. An opening bid of $1.2 million was politely declined by the auctioneer before a second offer of $1.3 million was accepted, with bids then rising in various increments.
The buyers beat investors and other first home buyers, all of whom hailed from the lower north shore.
Snead said cuts and holds to interest rates had little impact on buyers who had been actively looking for properties.
“They have already got their pre-approval and that doesn’t change with an interest rate cut,” he said. “However, it does give them confidence that what they spend is now giving them more value.”
Records show the property last sold for $600,000 in 2022. Neutral Bay’s median unit price fell 7.3 per cent to $1,098,750 in the year to June on Domain data.
In Hurlstone Park, a downsizer from Caringbah paid $1,559,000 at auction for a villa with a private courtyard.
The three-bedroom property at 4/12 Hurlstone Avenue had an initial guide of $1.25 million, which was lifted to $1.3 million; the reserve was set at $1,425,000. The interiors featured polished floorboards and whitewashed walls.
The buyer outbid a couple seeking to upgrade from a unit in Croydon and first home buyers.
Adrian William Real Estate’s Joseph Ferreira said Hurlstone Park offered a great price point in comparison with inner west hotspots.
“We sell many homes in Dulwich Hill and Marrickville, and we suggest Hurlstone Park to anyone who misses out there.”
He described the villa as “neat” and said it could do with updates to the kitchen and bathroom.
There were too few sales for Domain to obtain a median house price for Hurlstone Park, but median house prices for Dulwich Hill and Marrickville were $2.23 million and $2.12 million, respectively.
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