First home buyers end three-year hunt, nab $1.3m Rosebery two-bedder

First-home buyers have ended a three-year search with nervous, late-night bidding from overseas for an inner-city Sydney apartment.

The pair spent $1,308,000 on the two-bedroom, architectural pad at 34/2 Crewe Place in Rosebery, in Sydney’s south. The 47-year-old buyer was at the auction while his 32-year-old partner took part via video call from the Netherlands.

SOLD - $1,308,000

34/2 Crewe Place, Rosebery NSW 2018

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It was 1am her time, said agent Max Klimenko from Ray White Touma Taylor Redfern. After the thrill of victory, he thought it was unlikely she went straight to sleep.

“How could you, when you’re so excited,” he said. “It was nerve wracking for them. It’s their first home and this couple has been in the market for a long time. They’ve missed out on a few properties, going to back-to-back auctions.”

Four bidders registered and three were active. The contest opened at $1.2 million – which was the campaign guide price – and skipped past the $1,275,000 reserve.

There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.

One of the bidders was in Bali and enlisted a friend to attend the auction. He’d never stepped inside the apartment, in the Artise complex designed by architectural firm SJB.

“These types of properties are quite boutique, and they don’t last long on the market,” Klimenko said.

The property was one of 1433 scheduled to go to auction in Sydney this week. By evening, Domain Group recorded a preliminary auction clearance rate of 72.1 per cent from 894 reported results throughout the week, while 168 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.

On the northern beaches, a developer outmuscled owner-occupiers for a $2.74 million project home in a “sleeper” suburb.

SOLD - $2,740,000

4 Marinella Street, Manly Vale NSW 2093

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The three-bedroom, ocean-view house in Manly Vale, guided at $2.4 million, was for sale for the first time since the 1950s. The agent had been in touch with the vendors about the possibility of listing it for at least 10 years.

The auction for 4 Marinella Street soared above the $2.45 million reserve, propelled by interest from developers, investors and owner-occupiers wanting to renovate or rebuild.

All five bidders who registered participated. The contest launched with a bid of $2 million and rolled quickly in $100,000 bursts, to $2.4 million. Auctioneer Edward Riley welcomed a new bidder at $2.55 million, which increased the urgency. Three hung on until the end, when a $5000 bid was enough to silence the competition.

“Today’s strong result is a clear reminder that the northern beaches remains one of Sydney’s most desirable markets,” Riley said.

Agent Matt McEwan of Cunninghams Real Estate said Manly Vale is being “rejuvenated” by a new wave of residents.

“It’s a suburb that’s been a bit of a sleeper on the northern beaches – the sort that got overlooked for a long time,” he said. “A lot of those people who originally bought in are now of the age where their properties are getting sold, extensively renovated or knocked down.”

McEwan said he’d sold other houses on the street since 2014, and stayed in touch with the vendors until they were ready to list.

In Dulwich Hill, a property flipper hung on to win the keys to a four-bedroom brick character house, after a buyers’ advocate took them on with bullish bidding.

Auction Guide $2,350,000

21 Charlecot Street, Dulwich Hill NSW 2203

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Half of the six registered bidders joined in, pushing the result for 21 Charlecot Street to $2.73 million, following a campaign with a guide of $2.35 million.

The auction started at $2.2 million, followed by a $50,000 rise. The next bid, from the advocate representing a developer, was $2.5 million – only $50,000 shy of the reserve.

“It stunned the crowd,” agent Ben Horwood of Horwood Nolan said. “The buyer’s agent and the eventual winner engaged in a marathon of small and large bids. It was all over the place; they were trying anything to put each other off.”

Horwood said the buyer will renovate the property and sell it.

Investors were in pursuit in Roseville Chase but they were outmanoeuvred by a family, who scored a substantial brick house with a large garden, on a 974-square-metre block, for the reserve price of $2.6 million.

“The new owners are so happy because their mum lives nearby,” Jessica Cao of Ray White Upper North Shore said.

SOLD - $2,600,000

73 Duntroon Avenue, Roseville Chase NSW 2069

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The pre-auction hopes for the five-bedder at 73 Duntroon Avenue were $2.4 million. The sale sum is entry level for the suburb, Cao said.

Six registered to bid and three threw their hands in the air. The only family to participate prevailed over opponents with investment intentions.