Hot post-war property in Alderley draws a crowd at auction

Click here for the Video transcript

A post-war home in Alderley proved hot at auction on Saturday, attracting a large crowd and many interested buyers despite the scorching heat.

About 50 people gathered in the shade of a large jacaranda tree to watch the sale of 4 Elfreda Street, Alderley.

And after an eventful 20-minute battle between both the local and interstate buyers, the three-bedroom, one-bathroom home sold for $786,000.

While the crowd was full of young hopefuls looking for a foot into the popular area, among the nine registered bidders were two buyers from Sydney who’d never seen the property before Saturday, and an investor from Melbourne.

The auction started out with bids of $100,000 and $50,000, but soon it was down to two couples who traded roughly 20 $500 bids.

In the “fight for the title deed” auctioneer Haesley Cush told the crowd, “it’s all down to strategy now”.

At the end, it was an older couple who won on the day with small bids and a bit of patience.

Vendors Russell and Tina Kenny were happy with the result – comfortably over the suburb median of $759,250 – but said it was a bittersweet moment.

“We were reluctant to sell,” said Mr Kenny. “But we decided to move closer to Tina’s parents.”

Mr Kenny bought the home 17 years ago, and the couple said they would miss the neighbourhood and their friendly neighbours.

The recently married pair have already moved into their new home in Highgate Hill, and Ms Kenny said they are looking forward to settling into their new neighbourhood properly.

Selling agent Janine McDonald said she was “really happy with the result”.

Ms McDonald said the area was in demand due to its proximity to a number of popular state and private schools.

Earlier in the day a mortgagee auction at 152 Leckie Road, Kedron, also attracted a crowd, but bidders were decidedly more cautious.

Sx people registered to bid for the run-down home, but the auction was slow going.

Auctioneer David Treloar said this was thanks in part to the fact that the interested investors, homebuyers and developers all had different price expectations, and were worried about showing their hand early.

The property is also on a main road, another factor that may have given bidders pause.

It did sell however for $622,500. The underbidder, a retired builder who had plans to do it up, shrugged and said “you gotta try” after it sold to a phone bidder.

Start of video transcript

Haesley: Where do we start? Anywhere you like.

Man-off-screen: 500.

Haesley: 500, and we’re away at 5. At 740, 4 another bidder now, 740, 40 bid, 40 bidder now, 740 thousand. 740,000 paid, you’re buying the fine of 740, 40 bid here. First call, 763. Once I settled it stopped. 19 years, Janine [SP] sold it last time. There a bid of 777. 777,000 dollars. And a half, 777 and a half. Selling, going, sold. Congratulations, at $786,000.

Rachel: Sold for $786,000, what an auction. Thanks for joining us at another Domain live Facebook auction, brought to you by Me Bank.