Real Estate

North shore shrugs off doom and gloom

Written by The ReReport

The north shore continues to shrug off talk of doom and gloom in the Sydney property market, with strong sales across the weekend.

Big crowds and plenty of bidders made for exciting auction action, and translated into a robust 62 per cent clearance rate on the north shore.

This was well above Sydney’s general clearance rate of 51 per cent, reported by CoreLogic.

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In Lane Cove there were 10 registered bidders for the auction of 23 Howell Ave, and it sold for $2.43 million, which was “significantly above” above the reserve.

With 60 people in attendance at the auction, bidding started at $2 million and jumped in increments of $20,000, followed by a mixed bag of smaller bids.

The buyer is a young family who were looking to upsize into a new home.

Debbie Jepson, of Belle Property Lane Cove, said buyers were continuing to chase those quality homes that ticked all the boxes for their families.

“It was popular because it is a single level, fully renovated, north facing home that a family could move into and enjoy the next day,” she said.

The four-bedroom house is located on a tightly held cul-de-sac, and is only a few minutes walk to Lane Cove village.

It also offered buyers a flat lawn, Caesarstone kitchen, built-in wardrobes and an open plan layout.

There was 72 groups that inspected the property and 16 contracts were issued during the campaign.

In Gordon, more than 140 people turned out at 29 Nelson St to see five registered bidders vie for the stunning Federation home.

A local buyer, who had been looking for a home for the past two-and-a-half years, emerged as the victor, paying above the $4.6 million guide.

Lisa Davies, of Belle Property Lindfield, who sold the property with colleague Geoff Dean, said there was incredible interest in the home, with 187 groups inspecting the property during the campaign.

The result also showed that there was still strength in the market, Ms Davies said.

“There is still huge demand for quality homes on this scale, and this is only picking up,” she said.

“When there is a quality home at a realistic price point, there are so many people all over it.”

Sitting on 1511sqm in one of Gordon’s best streets, the home has Annie Wilkes gardens and a Howard Tanner extension, which were very popular with buyers.

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