Eastwood street record broken in two weeks

Posted by on August 16, 2016 in Market Reports | 0 comments

Eastwood street record broken in two weeks
Eastwood 北区 悉尼房产

11 Epping Ave, Eastwood

A new street record has been set after 11 Epping Ave, Eastwood, sold at auction for $2.475 million.

This surpassed the record achieved two weeks earlier when 2A Epping Ave sold under the hammer for $2.085 million.

Agent Tracy Yap, from Tracy Yap Realty Epping, said the property sold for “much higher” than the confidential reserve price.

Eastwood 北区 悉尼房产

11 Epping Ave, Eastwood

Nine parties registered to bid on the five-bedroom home owned by the same family for 22 years.

“About five bidders participated and at the end of the day it came down to two young buyers bidding against each other,” Ms Yap said.

She said buyers were attracted to the infrastructure and amenities offered by Eastwood.

The new owners had Eastwood connections but had overseas work commitments, Ms Yap said.

The underbidders were investors from the north shore.

Ms Yap said the result proved Eastwood and Epping had not been adversely affected by the slight slowdown of the Sydney real estate market late last year.

Schools and proximity to excellent infrastructure were clear attractions along with the friendly community-orientated neighbourhoods, she said.

 

HONG KONG BUYERS IN PUTNEY

Putney 北区 悉尼房产

29 Regent St, Putney

In 2014, 29 Regent St, Putney, sold for a knock down and rebuild price of $1.5 million.

Last week, a Wincrest Home built on the “almost 600sq m of land with a 19m frontage” sold prior to auction for $3 million.

Agent Trisha Guo, from First National Hunters Hill Gladesville and Ryde, said the sale came in at the upper end of the $2.8 million to $3.08 million price guide.

“Based on comparable sales in the area, the vendor was very happy with the result,” she said.

The new owners recently emigrated from Hong Kong.

“For new migrants there is a demand for lifestyle,” Ms Guo said.

“They want to secure a good family home in a nice location, close to good schools and transport. And they are happy to pay a premium price to have that opportunity.”

 

By: Shayne Collier

Published: August 10, 2016

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