Add CategoryEager home seekers were in luck, as the number of homes going under the hammer surged one third compared to this time last year.
Young couple, Max and his fiancee snapped up a rare Beverly Hills home for $1.78m on Saturday morning.
This was the first time the home had been on the market for over 50 years.
Sitting in a tightly held pocket, the couple had recently sold their Rhodes apartment and were looking to upgrade.
![Hot Auctions](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
Winning bidders Max and his fiancee secure rare Beverly Hills property offered to the market for the first time in 50 years. Picture: Julian Andrews
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Max said they had been looking for around three months but this particular home he communicated to the agent early that he would bidding hard.
“It’s a nice big block of land, great area as well and close to the station,” he said.
Lead agent Haydon Sacilotto from Ray White said the vendors were very happy with the result. They were happy to sell the property at $1.7m, but bumped their reserve up to $1.75m.
There was 10 registered bidders and four of those were active.
Auctioneer James Hurley brings down the gavel on the sale as a large crowd gathers in the back yard. Picture: Julian Andrews
The residence had undergone recent interior upgrades before hitting the market.
“It’s neat and tidy, you can live in it without having the do anything to the property,” he said.
Buyers were even more so drawn to the location of the home.
“It’s the proximity and the access to the city,” he said.
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“Not much is going beyond auction, if it’s not selling before, its selling really well on the day.”
The home sold for $1.78m.
In the Inner West, a dishevelled Concord West home has sold for $3.418m, $518,000 above its reserve.
Ben Horwood from Horwood and Nolan had originally expected 4-6 bidders, for the home at 18 Coonong Rd, but on the day had 12 registered bidders.
“This sale blew us all away,” Mr Horwood said.
18 Coonong Road, Concord West, NSW real estate
The property was on a large relatively flat block so appealed to developers and builders.
Interest had been very strong with builders and developers, as Mr Horwood said the property was not unliveable, but close to it. The home sat on a wide fronted 682 square metre block with a slight slope from the rear to the street.
The successful bidders were two sisters who planned to build a duplex and live next to each other on it.
Earlier in the day, Mr Horwood sold 10 Louden St Canada Bay for $2.65m, $150,000 above reserve.
“The crowd filled the street, it’s a very neighbourly street and this family had lived there for 60 years” he said.
10 Louden Street, Canada Bay sold for $2.65m.
The owners had recently renovated the interior.
He said the strong results felt like buyer confidence was on the rise.
“Just shows that the market is really starting to wind up.”