Local LifesLocal NewsSydney auctions: Wahroonga house fetches $2.33 million as buyers turn out in droves
Sydney auctions: Wahroonga house fetches $2.33 million as buyers turn out in droves
Sydney’s auction market got off to a flying start on Saturday, with wet weather doing little to dampen strong buyer demand and spirited bidding seeing one property sell for $455,000 above reserve.
A crowd of about 50 gathered in the front yard of 2 Yanilla Avenue, Wahroonga on Saturday morning, with cars parked bumper to bumper down both sides of the street as two dozen parties registered to bid on the four-bedroom house.
It was one of 251 homes scheduled to go under the hammer in Sydney on Saturday.
By evening, Domain Group recorded a preliminary clearance rate of 79.6 per cent from 206 reported results, while 11 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
Bidding for the family home opened without hesitation at $1.825 million – $25,000 above the price guide from the get go.
The price steadily increased thanks to quick-fire bidding from 10 parties who threw their hats in the ring, pushing the price well past the $2 million mark.
But as the rain began to come down again, some walked off while other buyers dropped out, whittling the competition down to a tense two-person bidding war after the price reached $2.245 million.
The home eventually sold for $2.33 million — selling a cool $455,000 above reserve — to a young Chatswood family who were looking to upsize in the same neighbourhood as their best friends.