Home sells for $300,000 above the reserve just ONE HOUR after going on the market as prices rocket at start of spring selling season - Australia
09-21-2014
This house in Sydney's north sold before Auction for $2.3 million
The property opened for inspection and was snapped up immediately
It was $300,000 above the price the sellers paid for it 12 months ago
Auction clearance rates are at an all-time high across Sydney and Melbourne
By Daniel Mills for Daily Mail Australia
Property prices are continuing to soar across Sydney if the start to the massive Spring auction clearance is anything to go by.
In what is dubbed 'Super Saturday' - today marked the beginning of the spring selling season with 1700 houses going under the hammer in Sydney and Melbourne - including this stellar Dover Heights home which sold before auction.
The buyers of the $2.3 million home at 241 Military Road liked it so much they bought it practically on the spot - one hour after the house opened for inspections and $300,000 more than the property price guide.
Stunning waterfront views and a fantastic northerly aspect have added value to this property's multi-million price tage
The buyers snapped these views up practically on the spot when the property opened for viewing
'The vendor came straight over from Botany and it exchanged at 10am,' Position Fealty agent Deborah Terley told the Sydney Morning Herald.
She said the buyers had been searching high and low for the past eight months for a home and made and offer on the spot.
The single level coastal retreat, located in the pristine surrounds of Sydney's lower north shore, is one of a record-high number of homes expected to clear across the spring.
It is built with development application approval for a new two-storey four bedroom residence with pool and double garaging.
The single level coastal retreat, located in the pristine surrounds of Sydney's lower north shore
Experts say have put down the huge number of properties clearing across capital cities to sellers putting a lot more confidence in the market.
the home as development application approval for a new two-storey four bedroom residence with pool and double garage
Sensational ocean views and a fantastic northerly aspect, the current home enjoys sun filled interiors and a generous wraparound entertaining balcony that leads to a spacious rear garden.
Domain Group senior economic advisor said it is an example of why there has been such an incredibly high clearance rate of the past six months.
He said there has been more than 80 per cent clearance rates. 'Volumes are at record levels,' he said.
Of the 1700 auctions that went under the hammer in the two cities, 620 were in Sydney up from 525 on the same time last year.
There are 706 auctions planned for next weekend for the city which is 20 per cent more than the same weekend last year.
Australian Property Monitors senior economist Andrew Wilson puts it down to sellers putting a lot more confidence in the market.
'It is the best spring buyers' market (auctions) that we've had in Sydney and certainly one of the best we've had in Melbourne, so sellers are obviously taking advantage of this,' Mr Wilson said
The buyers had been searching high and low for the past eight months for a home and made and offer on the spot
Experts say it is the best spring buyers' market that has been seen in Sydney