The 11% that didn't sell in Sydney auctions

The 11% that didn't sell in Sydney auctions
Jessie RichardsonDecember 7, 2020

Sydney recorded an 89% auction clearance rate this week, according to Australian Property Monitors.

Of the 580 auctions reported, 530 sold and 15 were withdrawn.

One that was passed in on Saturday was 8 Canberra Road in Sylvania (pictured below), in southern Sydney. Listed by Exclusively Property with a $1.26 million price guide, the four bedroom house was passed in $1,205,000. The 15 year old property remains listed at $1.26 million.



According to listing agent Vanessa White, the vendors are still keen to get $1.26 million for the home.

"And that's their prerogative as the vendor, isn't it," she says. "We're not in the business of giving homes away for free, we've got to try to get the best price."

The single level, four bedroom house sits on a 721 square metre plot.

Another that failed to sell at auction this weekend was 8 Pine Road in Auburn (pictured above).

The three bedroom house was passed in at its auction on Saturday afternoon. The north-facing, 505 square metre site is zoned R3, which allows medium density redevelopment with the council's consent.

The house has one bathroom, two kitchen and multiple entertaining areas. After failing to sell at auction, it has been relisted at $1,020,000.

Closer to the city, 104c Wells Street (pictured below), a three bedroom, attached house in Newtown was passed in at $1.29 million. The renovated period house is on a tight 108 square metre site. Listing agent Hugh Mcfarlan of Raine & Horne Chatswood/Willoughby, who marketed the property, tells Property Observer the auction saw competitive bidding, with three active bidders.

While the bidders didn't get to the vendor's desired price under the hammer, the property is currently under contract after negotiations with one of the bidders, with a price above $1.3 million.



15 Centennial Avenue in Chatswood (pictured below) was listed with a price guide over $3 million. The four bedroom, two bathroom property comes with development approval for two separate units, with 11 bedrooms total. The north-east facing corner site is located close to Chatswood High School and the railway station.

The home passed in at auction at $3 million. It's understood the vendors have expectations around $3.4 million to $3.5 million, and negotiations are taking place with a bidder who put in a $3.25 million offer. Vendors paid $418,000 for the property in October 1994.

In Bronte, 144A Hewlett Street (pictured below) was passed in at $5.1 million. The contemporary home by architect Michael Folk has four bedrooms and three bathrooms, with views over Bronte Beach and a swimming pool.



Listing agent Simon Exleton of McGrath Edgecliff says bidding opened at $4.8 million, with three registered bidders.

"When you get in the five million range, it starts to get a bit clunky", Exleton says of the premium auction market. The vendors are still negotiating with buyers, hoping for a price in the mid-$5 million range.

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