Harbourside Apartment Fetches Over $3.7M as Valentine’s Day Gift
A recent property auction in Sydney saw impressive sales, including a luxurious Harbourside apartment that fetched over $3.7 million. This remarkable purchase was framed as a Valentine’s Day gift, highlighting the increasing demand for premium real estate in the area.
Market Overview
This apartment, boasting a prime location with stunning views, was part of a broader auction event featuring 1,009 properties across Sydney. The Domain Group reported a preliminary auction clearance rate of 69.8% based on 649 results. There were also 127 properties withdrawn from the auction.
Significant Sales
- Strathfield: A young family secured a three-bedroom townhouse for $1.35 million, slightly above its reserve price of $1.34 million. The property drew over 400 inquiries and saw six active bidders during the auction.
- Marrickville: A developer won a bidding war for an unrenovated house at 16 Darley Street, paying $4.5 million. This property, available for the first time in 60 years, measured 727 square meters and had a price guide of $4 million.
- Dulwich Hill: A four-bedroom Californian bungalow at 35 Herbert Street sold for $3.5 million, matching its reserve price. The bungalow, dating from 1917, was well-maintained and updated, retaining many original features.
Buyer Interest and Market Trends
Interest in these properties was notably high, driven by various factors. Agents noted that homes priced under $1.5 million were particularly sensitive to recent interest rate hikes. The appeal of Harbourside views, proximity to amenities, and unique characteristics of homes in areas such as Marrickville and Dulwich Hill further fueled bidding activity.
The competitive environment reflects the ongoing desirability of Sydney real estate, where quality properties with charm and potential are seldom available. Enhanced connectivity, like the new Metro station, is also a significant draw for buyers.
