Soaring result for renovator’s delight in Parafield Gardens
Not even the deafening sound of passing jet engines coming from the nearby airport were enough to deter close to two dozen buyers at a Parafield Gardens auction on the weekend.
A total of 18 registered bidders lined the street outside 6 Miller Cres, on Saturday, in the hope to secure the renovator’s delight, which had been slanted for subdivision.
Following an opening bid of $150,000 and seemingly countless $1 bids thereafter, the three bedrooms home sold for $273,102 — $64,202 above reserve.
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Selling agent Ryan Stapleton of Ray White Norwood said the sale exceeded price expectations and highlighted “that auctions work.”
“It was unbelievable. We normally get two or three bidding in our area. But we had 18 registered and eight active bidders,” he said.
“All this for a relatively simple 1960s, three bed, blonde brick home next to an airport.
“The winning bid was $273,102 – to be precise. An unusual number, but it reflected on the nature the auction.
”It was a nail biting finish with the auctioneer, Brenton Ilicic finally taking $1 bids. He later told me he never seen so many hands flying up at an auction all at once.”
The property, which sits directly adjacent Parafield Airport and its fight training area, was set on a spacious 713sqm block.
It featured three bedrooms, two bathrooms, a retro kitchen and an open-plan living and dining area.
There was also a large rear yard with a separate workshop.
Despite much interest from renovators throughout the auction campaign, Mr Stapleton said the property ended up selling to a private developer.
“We had a huge interest in the property, especially from interstate investors. The magnitude if inquiries was a result of the price — we had it marketed with a price guide of $199,000,” he said.
“On auction day, we ended up with a lot of proxy bids and even a young guys who works at the mines had his mum on the phone.
“I think the result really shows that auctions work…and we’ve definitely seen more interest in our properties since the election.
“Stock levels have actually gone down but attendance levels are increasing, which is really good news for sellers.”