Real Estate

families fight for ugly duckling that sells 105k above reserve

Written by The ReReport

Families wanting more room paid $1,405,000 for 18 St Peters St, St Peters.

AN UGLY duckling on a battle-axe block in St Peters inspired three families who had outgrown their much smaller properties today, pushing the price way above expectations.
McGrath agent Adrian Tsavalas sold the four-bedroom brick-veneer home at 18 St Peters St for $1,405,000 — $105,000 above reserve.
The result was one of the standouts from the 647 auctions scheduled around Sydney today. With 333 of the results collected by this evening, CoreLogic put the clearance rate at 52.5 per cent, which is 1.16 per cent higher than at the same time last Saturday.
At St Peters, all three who’d registered — families coming from apartments in Marrickville and Erskineville and another living in a small house Newtown — loved the fact it was on a 440sqm block, even though 100sqm of that was the driveway.

Families liked the space on offer at 18 St Peters St, St Peters

Bidding had risen in $50,000, $20,000 initially, with the Marrickville and Erskineville families neck and neck from $1.28 million.
The pair were eventually fighting it out with $5000 and $1000 bids, with the Marrickville family winning the duel.
Meanwhile at a three-bedroom, two-bathroom home at 14 Phillip St, Newtown, Ray White gun Ercan Ersan’s negotiating skills were tested when, despite having five registered bidders and four active, bidding stalled at $1,735,000.

14 Phillip St, Newtown sold to a first home buyer who’d been renting in Enmore

Somehow he managed to talk the bidder — a young first home buyer who’s been renting in Enmore — up to the $1.8 million reserve and he sold it under the hammer.
He also sold a two-bedroom home on a tiny block at 39 Copeland St Alexandria for $1,125,000, $25,000 under the written reserve, to returning expats who’d been working in finance in Singapore.
There’d been four registered bidders with three active from $950,000.
CoreLogic indicates it last traded for $780,000 five years ago.

47 Camden St, Newtown sold to two lads from Surry Hills for $1.64 million

He also sold a three-bedroom, two-bathroom renovated home with no parking at 47 Camden St, Newtown, to two lads from Surry Hills for $1.64 million — $40,000 above reserve — and a two-bedroom deceased estate at 116 Mitchell Rd, Alexandria for $975,000.
Just the one bidder had turned up and they negotiated a deal. It’s set to be a renovation project with the buyer unsure whether he’d flip it or move in.
The 142sqm property last traded for $23,000 in 1978.


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