Incredible scenes at a Strathfield auction sees the vendor score a mighty payday
Onlookers were in shock as a Strathfield property sold in a high octane auction for nearly $1 million above the reserve.
With a lack of stock affecting the local market, the vendor of 21 Carrington Ave was rewarded for being open minded, as their home sold for $3.52 million and $900,000 above reserve.
The result is also a whopping 969 per cent more than the $329,000 the owners paid for it in 1987, according to CoreLogic data.
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A crowd of around 100 people gathered to watch a fast and fiery auction between four active bidders who loved the property’s location. From the opening bid of $2 million, offers came in thick and fast.
Georges Ellis & Co — Strathfield agent Sam Georges said it was an emotional auction with two bidders both desperately wanting the keys to the six-bedroom house.
“They pushed each other to limit and as a result the reserve was broken by a long shot,” he said.
Mr Georges said the proximity to Strathfield station and plaza was a big drawcard for buyers.
“This property was all about location, location, location,” he said.
Situated on a 695sqm block on the prestigious Golden Mile, the north facing rear property had six bedrooms and three bedrooms.
It also featured a workshop, laundry with chute, several formal and informal living spaces, as well as a guest bedroom with ensuite.
Co-agent Joseph Georges said the buyer is from the inner west and will probably look to build a new property on the site.
It was another great week to be selling property in the inner west, with the Sydney region recording a 89.2 per cent clearance rate.
According to CoreLogic, this was achieved from 37 out of 46 properties selling prior to auction or on the day.
The highest recorded sale in the inner west this past week was 21 Carrington Ave.
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