2/33 Woodcourt St Marrickville sold for $1.305m, nsw real estate

---

The Christmas property rush has arrived in Sydney, with desparate buyers flocking to auctions and dropping big money in a bid to snag their dream home before holiday closures.

Three separate auctions acorss Sydney’s inner and north west suburbs all went for $300,000-$400,000 above price guide expectations to stun crowds and amaze vendors.

NSW’s auction clearance rate rose to 52 per cent last week, with 246 properties sold at auction, 357 sold prior to going under the hammer and a further nine homes selling after the auction.

See how the wild weekend auctions unfolded below.

A jaw-dropping auction

An Inner West art deco duplex has sold for a staggering $1.305m, $305,000 over its reserve of $1m.

The crowd went silent and “jaws dropped”, as a bullish opening bid of $1.2m knocked out most of the competition, after the property had a guide of $950,000.

Out of 10 registered bidders, only three were left actively bidding in $10,000, $5000 and even $1000 bids.

The auction was over within a couple of minutes, with the property, 2/33 Woodcourt St, selling to a first-home buyer couple.

Most of the registered buyers were local couples, young families, singles and one downsizer.

MORE:Sign RBA is creating ticking time bomb

2/33 Woodcourt St Marrickville sold for $1.305m, nsw real estate

---

MORE:Huge prediction for Aussie house prices

A disappointed underbidder said “Well that was a waste of my time”, after the auction wrapped up.

A rare find in Marrickville, the home is located at the end of a leafy cul-de-sac and is an upper-level duplex.

The green backyard and clothes line is shared with the neighbouring residents downstairs.

The vendor, Shane Wong, was shocked by the price the property sold for.

“I was blown away … but we were managing expectations, I had budgeted around $950,000, but we spoke about places that sold in the area for $1.1m-$1.2m and they were a bit out of the norm with parking and a garage,” he said.

“I thought $1.05m would be really good, so to go for what it has, is amazing.”

Mr Wong said he and his partner had bought the property in 2014 for $593,000, giving the family a $713,000 windfall over the 10 years.

MORE:Home loan trap taking years to escape

2/33 Woodcourt Street, Marrickville, NSW 2204 sold for $1.305m.

---

MORE:Where the population has boomed most and why

The couple had purchased it as an investment property originally, then lived in the home after their first child was born.

Now with two children, aged nine and five, the family have decided to have a tree change.

“We moved to the Southern Highlands and survived the winter and we thought yes this is us. With the two kids we have more space for them, so we’ve now bought down there,” he said.

“This was just perfect when we lived here … all the neighbours are nice, its walking distance to the shops, the new library is beautiful, it’s not like a kit apartment, this is the perfect blend of ‘f you can’t get the house but want more than an apartment’.”

The home is a two-bedroom with one bathroom, plantation shutters, satin-finish floorboards and an original fireplace.

2/33 Woodcourt Street, Marrickville, NSW 2204 sold for $1.305m.

---

Lead agent Adrian Tsavalas, principal of Adrian William, said he was only expecting four or five bidders and had been surprised by a last-minute surge in interest.

“Two, three or four weeks ago, buyers felt spoiled for choice, now they’re realising that influx of stock has dissipated because most of the homes have sold and so they’re revisiting homes they may have initially dismissed,” Mr Tsavalas said.

He said that there had been a lot more first-home buyers in the market, as many investors were selling and reinvesting their money elsewhere.

“I’ve got a feeling those who are selling this weekend, next weekend and the weekend after will do quite well … buyers have less choice again.”

Marrickville’s median house price is currently $2.03m and the apartment median is $889,000, according to PropTrack data.

Premium to get deal done

30 Wyralla Ave Epping went under the hammer.

---

A turnkey home in Epping has sold for $2.82m, $320,00 over its reserve and guide of $2.5m.

Located at 30 Wyralla Ave, the auction attracted 11 bidders, with three active.

The Agency’s Catherine Murphy said the location, “immaculate” presentation of the home and “buyer fatigue” drove the price.

“This is the last big push before Christmas … there’s a big push to achieve getting the keys and there is a lot of fatigue from going to open homes and missing out.”

Desperate to beat holidays

26 Charles St Marrickville sold for $2.1m, $400,000 over reserve.

---

A Marrickville semi has sold at auction for $2.1m, $400,000 over its reserve of $1.7m.

Located at 26 Charles Street, the two-bedroom home attracted 11 registered bidders, with seven actively bidding.

BresicWhitney’s Frederico Fraga-Matos said the vendors had owned the property for 30 years.

“It was a great home in a great location … people want to buy before Christmas, there won’t be anything new to the market until early next year,” he said.

Over $1m windfall

A Killara property has sold for $3.15m, $350,000 over its reserve.

The auction at A7 Manning Rd attracted nine registered bidders, with four actively bidding.

Ray White Upper North Shore agent Jessica Cao said the family were moving out of Sydney for a sea-change.

“They paid about $2m for it in 2018, so they were very happy with the result today,” she said.

The buyers planned to move in and eventually knock down and rebuild on the large block.

Killara home sells $350,000 over reserve.

---