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No. 1/98 Mount St in Coogee sold $137,500 above reserve.
Buyers in Sydney’s eastern suburbs were out in force this morning despite the cooler weather, with a two-bedroom unit in Coogee selling under the hammer for $1.2375 million — $137,500 above reserve.
Angus Gorrie of McGrath-Coogee had seven bidders register for the auction of 1/98 Mount St, a renovated garden apartment just 400m from the beach.
There were seven registered bidders at the auction.
With a price guide of $1.075 million and a realistic reserve of $1.1 million, bidding was expected to be strong, with five parties participating.
The result proved there is renewed energy in the Sydney’s east, Mr Gorrie said, with a couple from the down the street the eventual buyers.
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“It has definitely picked up since the end of last year,” he said.
“There is some fresh energy and more of a mix of investors and homeowners.”
This Bellevue Hill unit sold for $1.225 million.
It wasn’t the only sale for Mr Gorrie, who also had 9/101 O’Sullivan Rd in Bellevue Hill sell under the hammer for $1.225 million.
In another strong result, the reserve was set at $1.15 million, while there were six registered bidders, five of which were active.
The Art Deco features were a big selling point.
The two-bedroom Art Deco unit with a garage was bought by first home buyers, as five of the six parties bid.
Mr Gorrie had 84 groups through and the result was a new block record.