Local buyer splashes $12.35m on Tamarama home with a ‘better view’

An eastern suburbs’ buyer, upsizing in the same suburb of Tamarama, paid $12.35 million for a home with a “better view” at auction on Saturday.

The five-bedroom, four-storey ocean view property at 27 Carlisle Street drew a crowd of 80 to the house with easy access to the beach.

SOLD - $12,350,000

27 Carlisle Street, Tamarama NSW 2026

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Three registered, and two actively bid for the home guided at $11.25 million. Bidding opened at $11.5 million and rose in steady increments to $12 million until it sold under the hammer at its reserve of $12.35 million.

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

Selling agent Alexander Phillips from PPD said it was a “bigger house, better house, better view.”

“They all celebrated after with champagne,” he said.

“It was designed extremely well with good detail,” Phillips said. The buyer has the option to buy the furniture.

The vendor will be downsizing locally.

The address last traded for $5.6 million in 2016, records show.

The property was one of 989 scheduled auctions in Sydney last week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 72.3 per cent from 607 reported results, while 110 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.

In nearby Bondi Junction, a two-bedroom garden apartment with parking for two at 2/46 Allens Parade sold for $1.99 million, or $240,000 above its $1.75 million reserve.

SOLD - $1,990,000

2/46 Allens Parade, Bondi Junction NSW 2022

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Bidding for the unit with a lock-up garage opened above its $1.6 million guide at $1.76 million. Five registered and three were active with rises in $20,000 and $10,000 climbing all the way to $1.99 million.

Belle Property’s Edward Brown said most of the interested parties were first home buyers. “It was at that price point … where people saw value,” he said.

Brown said art deco apartments are “in pretty good demand” as they are rarer than high-rise units in the area.

The vendors were a trio of siblings. The buyer is a downsizer from Randwick.

The unit last traded for $852,000 in 2010, records show.

In Artarmon, an investor secured the keys with one single final bid, knocking out all competing for the two-bedroom property guided at $1 million at 2/3 Robert Street.

Five registered and four were active, all were first home buyers except the winner.

SOLD - $1,135,000

2/3 Robert Street, Artarmon NSW 2064

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Bidding opened at $980,000 and climbed in mostly $10,000 increments taking it above its $1,025,000 reserve. A final bid of $1,135,000 sold it under the hammer.

BresicWhitney’s Stephen O’Sullivan said it was, “a very roomy apartment, and it was very livable… It was close to the station [and] close to amenities”.

“I am definitely finding the government incentive with first home buyers is a massive driving force in this price point,” he said.

The buyer was from Frenchs Forest. The vendor was from St Georges Basin.

LJ Hooker’s head of research Mathew Tiller said Domain’s clearance rate of 72.3 per cent indicates strong buyer demand “across most of Sydney, really, from the more affordable end, all the way through to the top-end of the market at the moment”.

“There is a real lack of listings in the market … so that’s really driving competition between buyers,” he said.

Tiller believes vendors are either deferring auctions or using auctions to achieve good results.

“We are seeing pretty good appraisal numbers for those home owners looking to list, so I think we will see some higher listing activity as spring progresses, but I don’t think buyer demand is going anywhere,” he said.