Real Estate

Northern beaches auction result brings new street sales record

Written by The ReReport
As seen in the Source link, written by news.com.au on 2019-03-09 21:44:43

A RAIN shower didn’t dampen the determination two bidders had to get their hands on a luxury home in North Manly yesterday.

A crowd of about 50 turned out at 30 Thomas St, mostly young couples, young families and neighbours keen to see the result.

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The home was being sold by Karen and Darren Ingram, who built it as their forever home for themselves and their three sons.

No expense was spared in the creation of the home five years ago — five double bedrooms, four internal living areas, home theatre, gym, games room, state-of-the-art kitchen, covered outdoor living space with kitchen, heated pool, garage with car stacker, and the list goes on.

The family are keen to build again so they are having a go at forever home number two — much to the amusement of friends and family, says Ms Ingram.

The home was a big hit with buyers and attracted a handful of registered bidders on the day.

But it came down to just two.

A young couple who started the auction off with a bold bid of $2.9 million, followed up by a bid from a young family of four, who offered $2.95 million.

The young couple came straight back with a bid of $3 million and the auction stalled for a few minutes while agent James Smyth, of Smyth Estate Agents, and his colleagues, talked to the other bidders and the vendors.

Light rain started to fall as auctioneer Jake Downs got the auction back on track with a bid of $3.025 million from the young family, upped immediately by the other bidder to $3.05 million.

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As the rain gathered momentum, two more bids saw the hammer fall on $3.1 million, with the young local couple emerging as the new owners.

While they did not want to be identified by The Sunday Telegraph, they said they were very happy with their purchase.

The Ingrams were relieved the rain held off as long as it did.

“We’re happy with the result,” Ms Ingram said.

Mr Smyth said the sale price had been in line with the reserve, and a great result for the area.

In fact, according to CoreLogic, the result smashes the street record by a country mile. The previous record for Thomas St was $2.45 million, and was set in 2016.

The northern beaches has been seeing some strong activity on the sales front this week.

In the first three days of March, the northern beaches notched up 48 sales worth more than $88 million.

Friday, Saturday and Sunday of last weekend was one of the busiest weekends in months, the auction clearance rate was a respectable 64.81 per cent and there were some big ticket sales.

Agents commented they have noticed buyers rejoin the market after a spell of sitting back and watching.

This week, Sydney was the busiest capital city in the country for auctions, with 669 scheduled, followed by Melbourne with 199, and Brisbane with 106. Tasmania had just three auctions scheduled.