Sydney terrace that last sold for $80,000 sells for $1.95m at auction

A first home buyer from Newtown paid $1.95 million at auction on Saturday for a Victorian terrace in the suburb with “time-worn interiors”. Records show it last sold for $80,000 in 1986.

The three-bedroom property at 21 Bucknell Street was guided at $1.6 million. Adrian William Real Estate’s Kate Ferrante declined to reveal the reserve but said it sold for “more than $300,000 above the reserve”.

SOLD - $1,950,000

21 Bucknell Street, Newtown NSW 2042

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There were 11 registered bidders and three took part. Bidding opened at the $1.6 million guide and rose in varying increments.

The property was one of 992 scheduled to go to auction in Sydney this week. By evening, Domain Group recorded a preliminary auction clearance rate of 71.1 per cent from 641 reported results throughout the week, while 105 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.

Ferrante, who held the listing alongside CobdenHayson’s Mia Fredrix, said the male buyer had help from his parents. He outbid builders and a father who bid on behalf of his son.

Interiors are described as “time-worn” on the listing. There is dated carpet and retro pink cabinetry in the kitchen.

Ferrante said that while there’s confidence in the market, the full impact of two interest rate cuts were yet to be felt.

She said the property is something people can put their own mark on.

“Whether they do a small renovation now and go bigger later, there’s always money to be made.”

Newtown’s median house price rose 5.0 per cent to $1,827,500 in the year to March on Domain data.

In Mosman, a local owner-occupier paid $5.3 million at auction for an apartment with Harbour Bridge and city skyline views.

The three-bedroom unit at 4/55A Prince Albert Street has house-like proportions and was guided at $5 million. BresicWhitney Lower North Shore’s Nicholas Christou declined to reveal the reserve.

All three registered bidders were local owner occupiers, but only one took part.

The buyer made a $5 million offer, right on the guide, and negotiated with the vendor on the auction floor, where it hit the reserve and sold under the hammer for $5.3 million.

SOLD - $5,300,000

4/55A Prince Albert Street, Mosman NSW 2088

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Christou said the appeal of the whole-floor apartment was that it was the “ultimate downsizer pad”.

He said there is more buyer positivity after two rate cuts, but is more directed to the lower end of the market, mainly first home buyers and investors.

Mosman’s median unit price rose 4.3 per cent to $1,407,500 in the year to March on Domain data.

In Guildford, a local investor paid $1,475,000 at auction for a family home on two lots with dual street frontage.

The three-bedroom property at 9 Queen Street had no guide but received buyer feedback of about $1.1 million; the reserve was $1.3 million. Interiors feature retro timber cabinetry and pastel walls.

Auction This Saturday 24th May at 10am, On-Site

9 Queen Street, Guildford NSW 2161

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There were 21 registered bidders and five took part. Ray White Parramatta’s Alexander Sallit said it’s “rare” for two-lot properties in the area to come onto the market.

“Blocks this size in the Parramatta region come up once a year, so people will fight over them.”

Bidding opened at $1 million and rose predominantly in $50,000 increments.

Sallit said the buyers may knock down the property. They outbid local builders and investors.

The vendor downsized in Queensland after living on the property for about 50 years. Guildford’s median house price rose 11.4 per cent to $1,225,000 in the year to March on Domain data.

In North Ryde, a family from Marsfield upsized to a four-bedroom home, paying $2.6 million at auction.

The property at 13 Donald Street had a guide of $2.1 million. Interiors feature floorboards and a neutral palette, and there is a back deck to entertain.

SOLD - $2,600,000

13 Donald Street, North Ryde NSW 2113

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All four registered bidders took part. Bidding was slow to start, eventually opening at $1.8 million. Stone Real Estate North Ryde’s James Sarzano said they amended the reserve from $2.1 million to $2 million on the auction floor, and from there, bids were flying.

The buyers outbid investors and families who saw knock-down potential. The property was being sold on behalf of The Mission to Seafarers charity.

Sarzano said buyer sentiment had improved since the Reserve Bank’s recent interest rate cut.

“I think we’ll see the result of those rate drops coming into effect in coming weeks,” he said. “I think the perception is they’ll continue to drop and prices will probably go north.”

Cooley auctioneer Michael Garofolo agreed. “I think everyone would agree that there are more cuts to come, even just one. So if you’re in the market in 2025, my advice would be to not wait until tomorrow because you’re only waiting to pay more.”

North Ryde’s median house price rose 5.1 per cent to $2.49 million in the year to March on Domain data.