Artarmon sale smashes reserve by $350,000

Posted by on August 30, 2016 in Market Reports | 0 comments

Artarmon sale smashes reserve by $350,000
Artarmon 北海岸 悉尼房产

10 Hawkins St, Artarmon

Winter has certainly gone out with a bang on the upper north shore, following a week of record sales and smashed reserves.

A strong auction was anticipated for a renovated Artarmon home on Saturday, following plenty of interest throughout the campaign, which culminated in a sale that went $350,000 above the reserve.

There were 341 email inquiries, 216 inspections and 35 contracts issued on the four-bedroom house at 10 Hawkins St, Ray White Lower North Shore listing agent Steve Cakmak said.

Saturday’s auction attracted 13 registered bidders, with the home selling for $2.15 million.

“We anticipated a lot of interest before marketing because it’s a unique offering for Artarmon being on a smaller land size than average for the suburb of approximately 350sq m,” Mr Cakmak said. “This attracted a large demographic of buyers, including young families trying to get a foot in the door of Artarmon.

 

STREET RECORD

Artarmon 北海岸 悉尼房产

4 Milton St, Chatswood

IN NEIGHBOURING Chatswood, a home described by Richardson & Wrench Chatswood principal Warren Levitan as a “renovate or rebuild” job was snapped up prior to auction for $600,000 above the asking price.

Mr Levitan negotiated with four buyers to sell the three-bedroom Californian bungalow at 4 Milton St, which had been listed with $2.5 million to $2.7 million price hopes. It was bought by a local Chinese family for $3.3 million, smashing the previous street record of $2.68 million, according to CoreLogic RP Data. It last traded at the end of 2013 for $1.55 million.

“We received a very good offer of $2.8 million, which the owner was willing to take,” Mr Levitan said.

“This represents a street record and, in fact, an area record for an unrenovated home on only 556sq m of land.”

 

HIGHEST SALE

Artarmon 北海岸 悉尼房产

1 Mudies Rd, St Ives

A MODERN family home in St Ives sold under the hammer for $2.551 million, representing the suburb’s highest sale that week.

Nine parties registered to bid on the four-bedroom home at 1 Mudies Rd, following a strong campaign where 22 contracts were issued.

The property offers 1045sq m on title, including a 25m street frontage, large entertaining deck, Caesarstone barbecue area, swimming pool and double lockup garage.

It sold with Savills Cordeau Marshall Lindfield agents Charles Caravousanos and Elizabeth Bailey.

According to CoreLogic RP Data, the home traded just three years ago for $1.47 million.

House prices in St Ives have witnessed strong growth over the last year, climbing 16.4 per cent to a median of $1,766,500. This marks a whopping 60.6 per cent increase over a three-year period.

 

By: Erin Forster

Published: August 26, 2016

Tags: , , , , , , , , , , , , , , , , , ,