Buyer sells Strathfield mansion at auction for $6 million

Mr So said the property attracted buyers because it was within walking distance of Strathfield Station, schools, parks and shops.

The buyer was a recent migrant to Sydney, while the underbidder was a doctor from Westmead.

Records show the home last sold in 2007 for $1.35 million.

Sellers are moving to Concord as empty nesters.

The property was one of 721 scheduled auctions in Sydney over the weekend. As of Saturday night, Domain Group recorded a preliminary auction clearance rate of 67 per cent, with 440 auction results reported and 85 auctions withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.

CoreLogic data released on Monday showed Sydney house prices rose another 0.5 per cent in June, taking the total gain for the quarter to 1.1 per cent.

A classic five-bedroom red brick home in Castle Cove 187 Deep Water RoadA property in bushland but close to the city has sold for $3.72 million. The property had a price guide of $3.33 million to $3.63 million and a reserve of $3.7 million.

Four families registered and actively bidding on the late estate, all owner-occupiers looking for more space for their children to play.

Bidding opened at $3.33 million and rose in $50,000 increments until a $20,000 bid ultimately won a young family the keys to a new apartment in the city.

loading

Craig Ireson of McGrath has a lot of buyers from densely populated areas looking for more space.

“They want open space, they want family-friendly living … and that’s what this area is about,” he said.

“We’re close to Chatswood and close to the city,” he added, pointing out the bus links.

An abandoned house in Cabramatta. 11 Ralph Streetpurchased in 2022 for $1.05 million and later sold for $297,000, with a final price of $1.347 million.

The previous owner bought it for investment but was unable to find a tenant and was unable to renovate or demolish and rebuild it, so put it back on the market.

The 1073-square-metre block had a price guide of $1.2 million to $1.3 million and sold on the day with an adjusted reserve of $1.4 million.

Two people have registered and two more are actively bidding. The bidder is an investor who wants to renovate and rent out the house.

Bidding opened at $1.2 million, with most bids coming in at $10,000 and $5,000, until a final bid of $1,000 sold it to a local Cabramatta woman who wanted to build her dream home.

loading

LJ Hooker selling agent Ky Chea said the large land size and quiet street were major draws.

AMP chief economist Dr Shane Oliver said the 67 per cent clearance rate was a slight increase on the previous week but still low.

Mr Oliver said there were more properties listed for sale now than a year ago, “which means there are more distressed sellers and buyers can’t keep up with the rising number of listings, which explains the downward trend in clearance rates”.

“Sydney is OK but I think it’s a little damp. Prices have been trending down here and clearance rates are a little below average for this time of year,” he said.

“The fundamentals haven’t really changed. Population growth has been strong, which has led to a housing shortage in Sydney and across much of Australia.”