North Sydney townhouse, close to new metro, sells for $2.4 million to an upsizing family

A North Sydney townhouse sold for $2.4 million at auction on Saturday to a family upsizing from a neighbouring suburb.

The four-bedroom, two-bathroom home at 4/50-60 Clark Road had a price guide of $2.3 million and a reserve set at $2.4 million.

SOLD - $2,400,000

4/50-60 Clark Road, North Sydney NSW 2060

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The property, close to the new metro, attracted three registered buyers, all upsizing families. There was an opening bid of $2.2 million, and the bidding rose in $25,000 increments between two buyers for most of the auction. But bidding did stall for a moment and negotiations ensued until the hammer fell at $2.4 million.

The home last sold for $2.22 million in 2022, records show. It was one of 398 scheduled auctions in Sydney on Saturday.

It sold through Nicholas Christou and Louise Barton of BresicWhitney Lower North Shore.

It was one of 398 auctions scheduled in Sydney on Saturday.

Barton said there was interest from upsizing families, downsizers, as well as a few investors during the campaign. However, when it came to auction day it was only upsizing families that chose to bid.

She said interest in the property and North Sydney lies in the new metro line that runs from Chatswood in Sydney’s lower north shore to Sydenham in the inner west.

“The new metro is definitely making a difference to the area. It’s so convenient as you can be in Barangaroo in just three minutes’ time from North Sydney,” she said.

“People once thought the area was quite commercialised, and it has now become a key lifestyle suburb. More families are looking to move into the area whereas it used to be quite investor-driven.”

Barton described the market this spring as being hit-and-miss.

SOLD - $2,282,000

4 Comeroy Crescent, Frenchs Forest NSW 2086

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“We’ve been finding that it’s quite property-dependent, but if you’ve got a smart guide, there are still many buyers looking to purchase property,” she said.

Over in Frenchs Forest, young couples fought it out for a three-bedroom, one-bathroom home that sold under the hammer for $2,282,000.

The property at 4 Comeroy Crescent drew nine registered bidders and four active bidders, with tight bidding between three young couples.

The property sold to a young couple, thought to be in their thirties, from the inner-city suburb of Chippendale.

Stone Real Estate Forest’s David Hayden said the winning couple attended the auction by themselves, with no family in attendance.

Guided at $1.95 million, the reserve was set at $2.15 million. Hayden said the reserve would have been reduced to $2.1 million if need be.

An opening bid of $1.9 million was made with bidding tight, down to $1000 increments from the $2.27 million to $2.28 million mark.

The young couple who secured the home made a final bid of $2000, which sealed the deal.