Good schools tick the right boxes
Sun Herald
Sunday July 5, 2009
GOOD schools in the area provided some of the main drawcards for hopeful buyers at yesterday's auction at 14 Paisley Road, Croydon.The property, a large four-bedroom Californian bungalow on 548 sq m was popular with young families hoping to buy close to some of Sydney's best high schools.Despite the home's large size, good upkeep and undercover pool, its location opposite a busy railway line was a minus.Agents Romani Iskander and Guy Lorello, of Raine and Horne Burwood, were confident before the auction that it would sell, despite the noise factor."If you live in the inner west you've either got problems with traffic, planes or trains. On the positive side, at least here you're close to transport," Mr Lorello said.Australian Property Monitors reports the property last traded for $295,000 in 1995. The median house price in Croydon is $698,000. Before the auction the price guide was about $700,000. On the day the reserve was fixed at $740,000. Seven bidders registered.The first bid was placed at $650,000. Auctioneer Tom Panos took bids ranging from $1000 to $5000. The hammer fell, after the agents had several chats with bidders and the vendors, at $740,000.Mr Panos said the result showed the attraction of schools in the area."These days we're seeing a stronger interest in Croydon," he said. "More families are moving in to send their children to local schools and, once they've graduated, they move to other suburbs. I like to call them the Croydon backpackers."The vendors, Clyde and Margaret Dominish, had lived in the house for 14 years and were attracted to the area because it is close to transport and has many retirees."Our kids loved swimming in the pool and coming here for Christmas," said their daughter Kathryn de Pagter. The couple will remain in Croydon, moving only a few streets away, in an apartment complex.The buyers, who did not want to be identified, said they were attracted to the local Chinese community and hope to rent the house until their daughter reaches high school and can attend PLC Croydon.
© 2009 Sun Herald