One of the smallest suburban homes rockets to a record sale

One of the smallest blocks in suburban Sydney have happy new owners, who paid $2.02 million for the slender and stylish pad.

Setting a street record, the auction of the Chatswood address eclipsed expectation, selling for $320,000 more than the reserve.

The sum is within the realm of apartment prices in the postcode, which is only 10km north of the CBD. This was an unusual transaction because homes in Chatswood dwarf the property by some margin.

SOLD - $2,020,000

2 Fairyland Avenue, Chatswood NSW 2067

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The purchase provides the buyers with a unique, architect-designed home for a ballpark of apartments usually fetch, featuring attributes including walled courtyard entry, glass ceilings, banks of warm, exposed polished timber and angles to capture sunshine and nature.

Within the long, neat footprint are multiple living zones and two levels, punctuated by an airy void. Upstairs is the main bedroom, opening to a balcony.

Seventeen bidders registered for the chance to win the keys and five parties threw their hands in the air during the auction run by Ray White Upper North Shore.

The contract was inked by a young couple with children who are upsizing from an apartment, the agency said in its weekend auction wrap.

Listing agent Jessica Cao said in a statement that 1000-square-metre houses are the norm, against 265 square metres for this character-filled address.

“This was an unusual sale because properties in the area are usually around 1000 square metres with four to five bedrooms,” she said. “But there is good buyer activity across the board and the popularity of this home just goes to show there is a shortage of affordable properties in the area.

“This price, which was a street record, is really closer to where apartments are sitting in the area so being a house, it represented good value for buyers. We had so many young families looking at it.”

The architect Maurice Perry has a CV of landmark real estate visited by millions of Sydneysiders every year. They include Bondi Junction Plaza, the Piccadilly Centre in the CBD and Narellan Town Centre, through the firm Hely Horne Stuart and Perry, which later designed under Hely Horne Perry Medcalf.

The median house price in Chatswood is $3.18 million – a rise of 17.8 per cent over 12 months and 39.5 per cent over five years.

Units in Chatswood command a median of $1,155,000, Domain’s March 2024 House Price Report shows.