Real Estate

demand for northwood secures strong result for waterfront home

Written by The ReReport

No. 3 Eva Lane, Northwood, sold at auction $2.73 million — $130,000 above the price guide.

THE highest recorded auction result across the north shore this past weekend was at 3 Eva Lane in Northwood.
Located less than 100m from the water, it sold under auction conditions for $2.73 million — $130,000 above the price guide. The reserve was $2.65 million.
Competition was hot on the day, with bidders registering, and three of them taking part.

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The buyer was a local family, attracted to the location, the views and the home’s potential. McGrath Lane Cove agent Brent Courtney said Northwood was in hot demand from buyers.

Real EstateThere are views of the bay from the front balcony.

“There are a lot of buyers who want to move into Northwood, but there is a real short supply of properties, so we are selling pretty everything we’ve got right now,” he said.
Interest in the Eva Lane property came mostly from families looking to take advantage of the sought-after north-to-rear aspect block, the views and the peaceful street.
Mr Courtney said all of the potential buyers had talked about doing some kind of renovation to the four-bedroom home, which was in need of a bit of work.
“There is some gentrification happening in Northwood now with the older ones moving out and the younger ones coming in and making the property more modern,” he said.

Real EstateThe front balcony is on the of the many entertaining spaces.

Real EstateThe kitchen has plenty of space and has gas cooking.

This past weekend the north shore had an auction clearance rate of 52.5 per cent.
This compared well to the Sydney-wide clearance rate of 49.21 per cent.
Out of the 40 auctions scheduled on the north shore, 13 sold prior, eight sold at auction and 19 were either withdrawn or passed in.


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