Family spend $3.8m for house with Harbour Bridge views in wealthy suburb
A family with teenage children from Sydney’s east paid $3.81 million at auction on Saturday for a three-bedroom home in Neutral Bay with spectacular harbour views.
The full-brick property at 4 Rose Avenue was guided at $3.5 million and had a reserve of $3.75 million. There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.
A wraparound entertainer’s deck offers views of the harbour, Harbour Bridge and city skyline. There are two al fresco dining areas, a country-style kitchen with timber benchtops, and a wine cellar. The vendor hosted family gatherings on the deck for 30-odd years.
Of four registered bidders, two took part. Bidding was slow to start, with an eventual vendor bid of $3.5 million, which was the guide. An offer of $3.55 million was accepted and, from there, two bidders went back and forth in varying increments until the home sold under the hammer.
The property was one of 836 scheduled to go to auction in Sydney this week. By evening, Domain Group recorded a preliminary auction clearance rate of 76.7 per cent from 498 reported results throughout the week, while 73 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
McGrath Lower North Shore’s Jon Snead said the buyers will live in the property and do some sort of renovation but will not embark on a knockdown/rebuild. They outbid a first-home-buyer couple.
Snead said that while the appeal was the breathtaking views, they’re difficult to put a price on.
“As an agent, you can’t put value on the view as it means different things to different people,” he said.
In Camperdown a young couple from the inner west who had just sold their house paid $2,235,000 at auction for a renovated 1900s terrace with a courtyard and garage at the rear.
The two-bedroom property at 30 Marmion Street was guided at $1.8 million and had a reserve of $1,975,000. Timber floors, skylights and a sleek white kitchen adorn the interior.
Seven bidders registered and six took part. Bidding opened at the $1.8 million guide and rose in increments of $10,000 and $5000, and down to a bid of $1000.
The underbidder was a female owner-occupier from the Northern Beaches.
Adrian William Real Estate’s Nicholas Viewey said the appeal was the potential to build up or out, subject to council approval.
“You might be able to turn it into a three- or four-bedroom house and, with the right architect, capture the northern light,” he said.
In Yowie Bay a young family with kids from the suburb paid $3.3 million for a tri-level home at what was described as a “marathon auction”.
The six-bedroom property with panoramic water views at 244 Attunga Road had no guide but Ray White Sutherland Shire’s Matt Debreczeni received buyer feedback of “mid-to-high $2 millions” during the campaign. The reserve was $3 million.
The double-brick home has a dedicated games room, with a built-in bar, kitchenette and full bathroom, that leads out to a poolside retreat.
There were four registered bidders and all took part. Bidding was slow to start with an eventual offer of $2.5 million. Bids rose in increments of $50,000 and $25,000 until $2.9 million, and then varied with bids as tight as $1000.
Auctioneer David McMahon described it as a “marathon auction with 141 bids in total”.
The buyers had considered knocking down their existing home in Yowie Bay and rebuilding but decided to buy the Attunga Road home and modernise it. They outbid other Sutherland Shire families and investors from other parts of Sydney.
Debreczeni, who held the listing alongside Tiffany Perez, said part of the appeal was that the home was in a tightly held suburb.
“It’s particularly difficult to find a solid home with views in the suburb,” he said. “Buyers are getting priced out of other areas of the Sutherland Shire and are looking for a similar coastal lifestyle.”
In Balmain East a female owner-occupier from the inner west paid $1,332,000 at auction for a one-bedroom apartment with uninterrupted Harbour Bridge views.
The top-floor unit with a renovated kitchen and balcony at 9/2 Pearson Street was guided at $1.05 million and had a reserve of $1.1 million.
There were five registered bidders and three took part. Bidding opened at $1 million and rose in varying increments. The buyer outbid another owner-occupier and an investor.
Balmain Realty’s Scott Robertson said there was no denying that the property’s location and Harbour Bridge views were the appeal.
He has noticed increased activity in the market as we head towards spring selling season.
Auctioneer Edward Riley said, “Today’s result is a powerful reminder of the market’s depth and resilience, particularly for premium harbourside property.”
We recommend
We thought you might like
States
Capital Cities
Capital Cities - Rentals
Popular Areas
Allhomes
More
