Knock-down rebuild pays off for Lilyfield homeowners with $2.5 million sale

A bidding war transformed a quiet parkside street in Sydney’s inner west into a hive of activity on Saturday morning. 

More than 50 people gathered for the auction of 30 White Street, Lilyfield, a newly built home inspired by Mid Century Modern design.

The colourful, three-bedroom house was one of more than  609 Sydney properties scheduled to go under the hammer on Saturday. By evening, Domain Group had recorded a clearance rate of 62.3 per cent from 354 reported results.

In an increasingly rare start in Sydney’s cooling market, it took just seconds for the auction to kick off with an opening bid of $2.25 million. 

Bidders rushed in, with four parties placing the first four bids as the price jumped in $50,000, and then $10,000 rises. 

It was only when bidding stalled at $2.53 million that the fifth and final bidder, a couple from Annandale, joined the fray. They traded a series of $1000 and $2000 bids with the underbidder before nabbing the home for $2,541,000 – $91,000 above reserve. 

The result was well above Lilyfield’s median house price of $1,665,000 and the $1.4 million the 309-square-metre block last traded for just under four years ago. 

Vendors Sue and Preston Clothier were delighted with the result, but said selling the home they spent 18 months building was a bittersweet moment. 

“We just love Mid Century Modern design,” Mrs Clothier said. ‘While the house itself is modest in terms of the proportions, the design makes it feel a lot bigger and makes it vibrant.”  

Once they made the decision to downsize, they turned to buyer’s agent Brooke Flint of Flint Property, who helped them nab the block back in 2014. This time around they were relying on her sales advisory services.

“We’ve bought and sold and renovated quite a bit ourselves, but when the market is a bit more furry, we preferred to do it with a professional adviser,” Mrs Clothier said. 

The couple said they decided to hold off from selling at the start of the year, so as not to be competing with the big rush of properties hitting the market after the Christmas break. 

Selling agent David Eastway of Hudson McHugh said it was a fantastic result, and noted demand was still strong for good homes in desired locations. 

That was the case at another auction in the inner west, with 11 parties registering to bid on a two-bedroom waterfront apartment at Chiswick. 

Eight of the bidders made offers on the top-floor apartment at 6/19 Bortfield Drive, pushing the price $135,000 above reserve to $1,685,000, a suburb record for a two-bedroom unit. 

The property, which last sold for $430,000 in 1988, was nabbed by a couple from Queanbeyan who were after a Sydney bolthole. 

Selling agent Ben Horwood of LJ Hooker Drummoyne/Concord said it was the highest number of bidders he had seen in months, and said the property’s popularity was down to its blue-chip location. 

It was a different story at an earlier auction he had at Concord on Saturday, with 42 Salt Street passing in without a single offer, despite several registered bidders. 

While buyers held back at the auction of the five-bedroom house, Mr Horwood was negotiating with multiple parties on Saturday afternoon and expected the parkside home to sell in coming days.

The 872-square-metre block, which last sold for $1.3 million in 2004, had a price guide of $4 million, not far off the suburb record of $4,030,000 set by a smaller nearby block last year. 

On the lower north shore, which had the highest number of auctions after the inner west, 10 groups registered to bid on a grand Victorian terrace at Crows Nest.

More than 150 people watched as six of the bidders competed for the keys to 98 West Street, pushing the price $165,000 above reserve. 

It was snapped up for $2,865,000 by a family from Mosman, who plan to do some cosmetic upgrades before moving in and making larger renovations later.

The terrace, which last traded for $1,030,000 in 2005, sold through Brad Rogan of Belle Property Mosman. 

In neighbouring Wollstonecraft a couple bought a two-bedroom garden apartment at 8/38 Shirley Road, for their adult daughter to live in.

They beat six other registered to bidders to secure the property for $1,285,000 – $85,000 above reserve. The property was sold through Donovan Murphy of McGrath Neutral Bay, and last traded for $7450,000 in 2012.

Meanwhile in Neutral Bay two bidders competed for a two-bedroom apartment at 2/1 Merlin Street, which sold through Jon Snead of The Agency North for $1,142,250.

Elsewhere in Sydney…

122 Juliett Street, Marrickville. Photo: Supplied.

SOLD $1.9 million
Marrickville
122 Juliett Street
4 bedrooms, 2 bathrooms, 2 car spaces

On the market for the first time in more than 50 years, this character home attracted four bidders when it went under the hamer on Saturday. The bidding started at $1.6 million and climbed in $25,000 jumps to $1.8 million, before slowing to smaller offers. The deceased estate was snapped up by a local family for $10,000 above reserve. They plan to extensively renovate the property into their dream home. The 434-square-metre block sold through Alex Mastoris and Angie Riad of Cobden & Hayson Annandale.

32 Robert Street, Willoughby Photo: Supplied.

SOLD $2.7 million
Willoughby
​32 Robert Street
3 bedrooms, 1 bathroom, 1 car space

Competitive bidding saw this Californian bungalow sell for $200,000 above reserve. It kicked off at $2.3 million and went up in a mix of $10,000 and $50,000 jumps as three bidders went back and forth. It was a young family relocating from the inner city that secured the keys. The result was almost $1 million above the $1.73 million the property last traded for in 2014. The house sold through John McManus of LJ Hooker Willoughby & Artarmon.

106 Darling Street, Balmain East Photo: Supplied

SOLD $3.1million
Balmain East
106 Darling Street
4 bedrooms, 2 bathrooms, 2 car spaces 

It was a two-man race for this three-level home with city and harbour views. Bidding started at $2.7 million and climbed in $50,000 increments until the $3 million mark as a young local couple and family went head to head. From there bidding slowed to $20,000 and $10,000 jumps, with the local couple nabbing the home on the reserve price. The 282-square-metre block sold through Peter Gordon of Cobden & Hayson​. It last traded for $2,545,000 less than four years ago. 

20 Berry Street, Cronulla. Photo: Supplied.

SOLD $2,415,000
Cronulla
​20 Berry Street
4 bedrooms, 2 bathrooms, 2 car spaces

Four of five registered bidders battled for this tightly-held family home on the market for the first time in about 35 years. The auction kicked off at $2.1 million, and bidding moved quickly in $25,000 increases before stalling at $2.38 million. The house went on to sell for $15,000 above the $2.4 million reserve. Selling agent Karan Bambacas of Gibson Partners Real Estate said it was snapped up by a family from the St George area. The vendors are downsizing to the south coast.