Sydney auctions: Maroubra house sells for $6.45m, or $950,000 above its price guide

A tightly held house in Maroubra has fetched $6.45 million under the hammer on Saturday, selling some $250,000 above its reserve and $950,000 above its price guide.

Half a dozen buyers, all local owner-occupiers looking to upgrade, registered to bid on the six-bedroom house at 309 Storey Street.

It was one of 962 homes scheduled to go to auction in Sydney on Saturday.

By evening, Domain Group recorded a preliminary clearance rate of 77.4 per cent from 720 reported results.

While the home had a price guide of $5.5 million, bidding opened below that at $5 million and buyers did not shy away as five parties threw their hats in the ring.

The price rose in $100,000 increments for most of the sell-off before the hammer fell at $6.45 million to a local family who were upsizing.

SOLD - $6,450,000

309 Storey Street, Maroubra NSW 2035

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The well-maintained home and its panoramic views from Maroubra Beach to Kurnell was bound to achieve such a strong result, said Ray White NSW chief auctioneer Alex Pattaro.

The home, sold through Ray White Maroubra and South Coogee’s Nader Hotait, last traded for $330,000 in 1985, records show – the price rising 20-fold over three decades.

Maroubra’s median house price jumped 19.4 per cent to $2.15 million in the year ending March 2021, Domain data shows.

SOLD - $4,000,000

5 Percy Street, Rozelle NSW 2039

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In the inner west, a double-fronted cottage at 5 Percy Street, Rozelle, sold for $4 million to an upsizing Balmain family.

Seven parties registered to bid, but a knock-out opening offer of $3.6 million – well above the price guide of $3.2 million – blew almost all the competition out of the water.

It was a two-horse race from there, flying past the $3.4 million reserve and selling for $600,000 above it.

The four bedroom house was on a 406-square-metre block that had a pool and a triple-lock up garage, which is rare, said Chad Egan of Cobden & Hayson Drummoyne.

“It is a very, very strong result … we’ve still got buyers within that price point who are still active,” Mr Egan said.

The property last sold for $780,000 in 2005, records show, the price rising more than five times in 15 years.

Rozelle’s median house price rose 2.9 per cent to $1.75 million in the year to March 2021, Domain data shows.

SOLD - $3,350,000

17 Schumack Street, North Ryde NSW 2113

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In North Ryde, an architect-designed home by ARC Homes Australia at 17 Schumack Street fetched $3.35 million.

Eight parties registered to bid but only half participated after the auction started bang on the price guide of $2.8 million.

It sold for $200,000 above its reserve to a young couple from Neutral Bay.

The home was a development project that was built to sell. It traded through selling agents Trisha Guo and Benjamin Mulae of Atlas Northern Districts.

The home last sold for $1.32 million in 2018, records show, the price more than doubling in three years after the block was redeveloped.

North Ryde’s median house price reached $1.68 million after it rose 7.7 per cent in the past year to March 2021, Domain data shows.