Sydney auctions: Longueville house sells for $7.415m, topping reserve by more than $1.4m

A house on Sydney’s lower north shore soared more than $1.4 million above its reserve price at auction on Saturday, selling for $7.415 million.

More than 70 people turned out for the auction of the five-bedroom Longueville house, with many left in shock as the home topped its 2017 price tag by almost $1.9 million.

It was one of 1010 Sydney properties scheduled for auction on Saturday.

By evening, Domain Group recorded a preliminary clearance rate of 77.0 per cent from 742 reported results.

SOLD - $7,415,000

12 Lucretia Avenue, Longueville NSW 2066

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Six house-hunters turned out to compete for 12 Lucretia Avenue, an 860-square-metre block with water views and glimpses of the Harbour Bridge.

An upper north shore family kicked off the bidding at $5.75 million. From there it quickly climbed in mostly $50,000 raises past the $6 million price guide and reserve.

Almost 80 bids were made by four different buyers before the gavel fell, with the opening bidder from the upper north shore walking away with the keys to the grand home.

The property, a deceased estate, last sold for $5.535 million back in the previous market peak of 2017.

“It’s just a crazy market,” said selling agent and auctioneer Stewart Kirkby, of LJ Hooker Lane Cove. “A price of $6.5 million to $7 million would have been a great result, and it’s gone another $400,000 above that and almost $2 million more than what they paid for it in 2017.”

SOLD - $4,400,000

61 The Corso, Maroubra NSW 2035

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Over in the eastern suburbs, six house hunters registered to bid on an original-condition, three-bedroom house that sold for $400,000 above its reserve.

One bidder tried and failed to start the bidding for 61 The Corso, Maroubra, with an offer of $2.8 million, well below the $4 million price guide and reserve, before increasing their opening bid to $3 million.

The offers then climbed in $100,000 jumps up to about $3.8 million, before slowing to smaller increments. Five of the registered parties made offers on the property, which was also a deceased estate.

The winning bid was made by a family from the inner west, who hope to build their dream home on the 540-square-metre block. The property sold through Mark McPherson of McGrath Coogee.

SOLD - $1,650,000

67 Forsyth Street, West Ryde NSW 2114

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In the city’s north-west, downsizers outbid young families for a three-bedroom house at 67 Forsyth Street, West Ryde.

Bidding opened at $1.1 million and climbed in $100,000 jumps to the $1.4 million reserve price, then dropped to increments of $50,000 and below, as four of the 11 registered bidders made offers.

The 503-square-metre block sold for $1.65 million to local downsizers, through Jerry Dionisatos of Green Real Estate.

The result was more than double the $770,000 that records show it last traded for in 2010.