GOING GOING GONE
Sun Herald
Sunday July 26, 2009
EASTSunny scene draws $1.3mA FOUR-BEDROOM house at 138Bay Street, Pagewood, with views of Eastlakes golf course was auctioned yesterday through Romany Brooks and Theo Karangis of NG Farah Randwick. Its price guide was $1 million-plus. It last sold for $327,000 in 1995. The 1940s house, on 531sqm, has three bathrooms. Result: sold for $1,325,000.In Woollahra, a deceased estate unit at 2/39 Nelson Street was auctioned with a price guide of $550,000-plus through Wayne Yates of Laing + Simmons Double Bay. The two-bedroom, 108sqm, ground-floor property has a separate dining room. Result: sold for $673,000.INNER WESTThe new and the oldTWO houses separated by almost 100 years of building history were auctioned yesterday with identical price guides showing the inner west's diversity.A new three-level house at 11 Northwood Street, Camperdown, went to auction with hopes of $1.3million-plus through Kylie Brennan of McGrath Inner West.The four-bedroom property has a lap pool and a roof-top terrace. It last sold for $875,000, in 2006.Designed by Architects Johannsen + Associates, it has two bathrooms and two car spaces on a 164sqm block. Result: sold for $1.56 million.In Petersham a four-bedroom federation house at 28a Railway Street was auctioned through Fiona Rimes of Coleman Rimes Real Estate, also with a price guide of $1.3 million-plus.The two-bathroom home last sold for $1.22 million in 2002. It was built in 1917 on a 424sqm block.Result: passed in at $1 million.NORTHGeorgian belle of the ballSIXTY contracts were issued before yesterday's auction of a two-bedroom apartment at 3/98 Spit Road, Mosman, through Julie Susnjara and Tim Foote of Belle Property Mosman. Its popularity was put down to there being little else like it on the market at the price guide: $560,000-plus.The 119sqm apartment has a study, two bathrooms and a car space. It was built in 1996 in a Georgian style. The strata levy is $921.25 a quarter. Result: sold for $711,000.In Chatswood a three-bedroom house at 27 Dalrymple Avenue was auctioned with hopes of about $800,000 through Ray White Chatswood's Robert McElhone.The 1940s double-brick house has been held by the same owner for 30 years. It is on a 423.7sqm block. Result: sold for $906,000.SOUTHViews buoy auction bidsA TWO-BEDROOM unit with water views was auctioned yesterday with hopes of $400,000-plus through Ray Fadel and Lorene Shahinian of Raine & Horne Sans Souci. The renovated, 85sqm property at 17/3 Princess Street, Brighton-le-Sands, is on the third floor of a 1970s block and has a car space. Result: sold for $447,000.In Connells Point, a Torrens-title duplex at 176A Connells Point Road was auctioned with a price guide of $630,000-plus through Peter Green of Laing + Simmons Miranda and Helensburgh. It has three bedrooms and a double lock-up garage on 279sqm. Result: sold for $652,000.High demand smashes reserveA LACK of available quality properties in the inner west heightened interest from young couples in the lead-up to yesterday's sale of a semi at 17 Bayview Road, Canada Bay.The renovated three-bedroom house on 298 square metres had a price guide in the low- to mid-$600,000 bracket before auction.It sold on auction day for $745,500 $15,500 over reserve.During the auction campaign agent Shane Howley, of Ray White Five Dock, advised the vendors that their reserve price was unrealistic for the area.Needless to say, he was surprised by the result."Four months ago a semi a few streets away from here sold for $705,000," Mr Howley said."I never thought the price would get this high, but it just shows how much competition there is for good property."Mr Howley's reservations about the property's reserve price were supported by Australian Property Monitors' data, which showed the median house price in Canada Bay in the 12 months to May this year was $690,000.Ten contracts were handed out on the property and about 100 groups inspected it before auction. Nine bidders registered to bid and five were active in the heated proceedings.The auction began with a $600,000 bid from a young couple. Waves from people holding bidder cards increased the price from there in $10,000 jumps. By the time the price reached $700,000, all five bidders were swift in their bidding until auctioneer Charlie Powell, of Cooley Auctions, dropped the gavel on the contract.Buyers Joseph and Adriana Ciano were happy despite the unexpected selling price."I thought it would be around the $750,000 mark because it's so well maintained and there's nothing to spend on it," said Mr Ciano, a local mechanic who can now walk to work from his new home.Vendors Sandra and Jason Falzon bought the property in 2000 for $393,500. Both were happy they stuck to their guns on their reserve price expectations."It was a gamble, but we're going to need a bigger home and now we're the buyers so every cent counts," Mrs Falzon said.
© 2009 Sun Herald