[ad_1]
“It’s a tremendous outcome because this was a knock-down-and-rebuild project at a huge expense on a lot that doesn’t allow duplexes,” Garofolo said.
loading
He said there weren’t many cheaper options for buyers looking to buy in this part of Sydney.
“There’s not a lot of land like this available at the moment. A lot of the land in Ryde is duplexes. If you can get the land all to yourself for this price, it’s a good buy,” he said. “What other options are there? There are no cheaper options at the moment.”
It is being sold through James Sarzano of Stone Real Estate North Ryde.
North Ryde’s median house price rose 6 per cent to $2,332,500 in the year to March, according to Domain data.
In Bellfield, a young family upgrading in the suburb purchased their forever home for $1.74 million, outbidding six other families.
Three-Bedroom Bungalow 27 Scott Street The guide was $1.5 million. Bidding started at $1.35 million and rose in varying increments as there were four buyers, all young families looking to settle in their long-term home. The reserve was $1.6 million.
The item is being sold through Ray White Concord and Rick Pignetti and Christian Leung of Five Dock.
Mr Liang said the result exceeded the expectations of the agents and the seller.
loading
“It’s a very strong result and we weren’t expecting it. It’s far beyond what anyone expected,” he said, as high interest rates remain a focal point of discussion for most buyers.
“The number of buyers coming through open houses has dropped. Those who are looking to buy are more cautious … they don’t want to break the bank just to protect themselves against another rate hike.”
But he noted that homes do sell well in a competitive environment when buyers can see social proof of the home’s value.
As of March, the median home price in Belfield increased 6.3% to $1.7 million.
A four-bedroom house in Hurstville 27 Edith Street After four bids, it sold for $1,815,000.
The property, with a price guide of $1.75 million, attracted just two Hurstville buyers — an investor and two brothers, who ultimately got the keys.
Gengis Kokden of LJ Hooker Hurstville said it was a good result and the vendors were happy.
“We were expecting a little more than this, but the seller was happy with it,” Mr Cocden said. “If you are honest with the seller about their expectations and the value of the property, then you can attract buyers in this price range.”
Records show the home last sold in 1992 for $155,000.
[ad_2]
Source link
