Real Estate

Newtown terrace sells for $1.81m at auction — $60k above reserve

Written by The ReReport
As seen in the Source link, written by on 2018-12-17 12:22:57

No. 205A Australia St in Newtown sold for $1.81 million.

A three-bedroom terrace opposite Camperdown Memorial Rest Park in Newtown has sold under the hammer for $1.81 million.

Five registered bidders turned up on one of the final auction days of the year, with all five actively competing for the property at 205A Australia St.

The outdoor entertainment area is sure to be a hit.

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With an intuitive design and spread across three levels, all interested parties were sure to love the updated interiors and outdoor entertainment area.

A crowd of 30 watched on as bidding started at $1.4 million and increased in increments of $50,000, $20,000 and $10,000. A number of smaller bids resulted in the final sale price, which was $60,000 above the reserve.

The kitchen flows outside.

Selling agents Ercan Ersan and Shaun Stoker of Ray White Erskineville issued 10 contracts and had 59 groups through the inspections.

The result was one of 40 auctions called in the inner west this weekend, with seven selling under the hammer and eight selling prior. This resulted in a preliminary clearance rate of 37.5 per cent, according to CoreLogic data.

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There were five registered bidders at the auction.

Features of the property include ensuites and built-in wardrobes to all bedrooms, a Caesarstone kitchen, an outdoor terrace and a 127sqm block.

The last time it changed hands was in September 2006, when it sold for $1.06 million.