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Retired Wallabies rugby player Mark Bell sold his three bedroom family home of 25 years for $3.66 million at auction on Saturday.
The house at 27 Delange Road, Putney was snapped up by a downsizing local family who enjoys entertaining, so the separate entertaining pavilion – which comes with plunge pool, indoor/outdoor living, and bar – was a major draw card.
The auction drew a strong crowd from the rugby community and from locals. The vendor’s son, second-generation Wallaby player Angus Bell, was there on the day.
Many stopped to admire the sporting memorabilia, including Bell’s Wallaby jersey on display in the bar set up. It was an emotional day for the vendor as the boys had been raised there.
Six people registered and four actively bid on the house guided at $3.3 million and billed as a potential duplex site.
Bidding opened at $3 million and rose in $100,000 increments to $3.4 million. A bid of $50,000 and a series of $100,000 and $50,000 offers took it to the $3.6 million reserve, then it rose in smaller increments to $3.66 million.
Auctioneer Damien O’Cooley said it was an entertaining auction.
“There were quite a few laughs in the crowd. It was a really lovely home with beautiful presentation,” he said.
It was one of 424 homes scheduled to go under the hammer in Sydney on the weekend. By evening, Domain Group recorded a preliminary auction clearance rate of 66.4 per cent from 274 reported results, while 52 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
Selling agent Stephanie O’Sullivan from The Agency Hunters Hill said the area is going through gentrification.
“[It’s] a great property to redevelop, because it had measurements for a duplex. So it attracted generational living, developers and young families.”
O’Sullivan said the purchaser will live in the home as is, with plans to subdivide it in the next five years.
The property last traded for $422,000 in 1997.
In Epping a six bedroom, five bathroom house located at 3 Wyvern Street sold for a whopping $4.75 million in front of a crowd of 150.
Five people registered to bid and four made offers on the family home erected by a father and son builder duo.
Bidding opened at $4 million with five $100,000 increases taking it to the $4.5 million reserve. Once it was on the market, fast-paced $50,000 and $25,000 bids got it to the winning price of $4.75 million.
The buyer was a multi-generational family, represented by the daughter, her son and grandmother on the day.
Selling agent Wayne Vaughn from McGrath Epping said the craftsmanship is what made the house stand out.
“It wasn’t [a] project home. It was master built. The detail was immense. A nice little cul-de-sac location,” he said.
AMP Capital chief economist Dr Shane Oliver said the fall in clearance rates from last weekend’s 81 per cent to this weekend’s 66.4 per cent indicates the interest rate hikes are starting to make an impact.
“It’s certainly a big fall. That’s a 15 percentage point drop over one week,” he said.
“Just as the clearance rate has surprised us on the upside for a long time, maybe it’s now starting to fall back to earth, given the ongoing threat from higher interest rates.
“Sales numbers and listings are all pretty low. But it’s almost like it fell off a cliff.”
In Strathfield a five-bedroom, three-bathroom double brick home sold for $3.59 million. The house located at 60 Myrna Road was guided at $3.4 million.
Six registered and four actively bid. Bidding opened at $3.3 million and jumping in $50,000, $25,000 and $10,000 amounts, quickly soaring to the $3.5 million reserve.
The buyer is a local Strathfield family looking to knock it down and build their dream home on the 727-square-metre block.
Selling agent Tarun Sethi from McGrath Strathfield said Strathfield is performing well.
“It’s a resilient suburb, in which there’s always phenomenal demand,” he said.
The house last traded for $471,000 in 2001, records show.
Elsewhere, a three bedroom Californian bungalow sold for $4,572,500 in Willoughby.
Nine registered and six actively bid on the 1920s immaculately styled level residence, complete with manicured gardens and fourth bedroom as guest studio located at 23 Alexander Avenue.
Bidding began at $3.45 million and the bungalow sold for $572,500 above the $4 million reserve. The result netted another outstanding outcome for the suburb of Willoughby.
Selling agent Daniel Cakmak from Raine & Horne Lower North Shore said the auction exceeded expectations, causing a buzz among neighbours afterwards.
The property last traded for $1,661,000 in 2013.
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