Renting grandma snaps up $2.75 million four-bedroom Roseville home

A grandma who has been renting in Roseville bought a family home in the suburb on Saturday for $2.75 million.

She was the only registered bidder for the four-bedroom, two-bathroom home at 1 Paradise Avenue that had a guide of $2.6 million. The reserve was set at 2.75 million.

SOLD - $2,750,000

1 Paradise Avenue, Roseville NSW 2069

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It was one of 828 scheduled auctions in Sydney on Saturday.

The woman opened with a $2.5 million bid, then bid against herself with a $2.65 million offer. A vendor bid of $2.72 million was then placed before the buyer increased her offer again to $2.75 million, hitting reserve and where the hammer fell.

Jessica Cao of Ray White Upper North Shore said the buyer is from country NSW but has been renting in Roseville for quite some time.

“Her daughter lives in the area so she’s been waiting to buy,” Cao said. “She decided it’s now time to settle down.”

The sellers were a young family with plans to upsize in the suburb.

“They purchased the home as a two-bedroom semi-detached and added another two bedrooms,” Cao said. “Their kids are now teenagers, so they want more room and plan to stay in the area.”

She said Roseville was ideal for families as it is peaceful and has plenty of options for schools.

“Throughout the campaign, we have seen young families coming to look at the home as there is just so much choice here.”

Speaking of the market in general, Cao said that while Spring brings more listings, buyers are taking a wait-and-see approach.

“Buyers are very cautious. We are finding that the good properties have no trouble in selling, however, some B-grade properties are struggling with buyer enquiries and interest.”

Roseville’s median house price rose 7.6 per cent to $3.82 million in the year to June on Domain data.

In Bankstown, a two-bedroom, one-bathroom house at 55 Pringle Avenue sold for $1.7 million.

SOLD - $1,700,000

55 Pringle Avenue, Bankstown NSW 2200

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The deceased estate, which is on 1254 square metres, had a guide and reserve of $1.5 million.

The Agency Inner West Strathfield’s Andrew Kazzi, who holds the listing alongside Steven Devine, said the five registered bidders were a mix of locals and a few out-of-towners.

Bidding started at $1.4 million and rose in varying increments as three participated in the sell-off. The home was sold to a local couple who plan on a knockdown and rebuild.

“Bidding wasn’t slow to start, it flowed pretty well,” Kazzi said. “Three of the bidders were still active until around the $1.62 million mark.”

“The property is purely land value, however, with the buyers keen on adding a brand-new duplex.”

The property was last rented in February for $600 a week, records show.