Sydney virtual auctions: Two-bedroom Clovelly semi-detached house sells for $2.88m

A serious Delta-variant COVID-19 outbreak was not enough to stop real estate activity in the eastern suburbs, as a Coogee family upgraded to a two-bedroom semi-detached house in Clovelly for $2.88 million on Saturday.

The lockdown meant all Sydney auctions were held online. Six parties registered to bid on 44 Arden Street, Clovelly.

It was one of 747 homes scheduled to go under the virtual hammer in the city on Saturday.

By evening, Domain Group recorded a preliminary clearance rate of 69.4 per cent from 507 reported results, while 139 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.

SOLD - $2,880,000

44 Arden Street, Clovelly NSW 2031

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Bidding opened at $2.6 million, bang on the price guide, and rose in varying increments as four parties participated in the sale, mostly local families from Bondi and Waverley looking to renovate.

The 221-square-metre deceased estate sold for $2.88 million – $80,000 above the reserve – to a young family upsizing from Coogee.

McGrath Coogee’s Marnie Senior said the latest lockdown had not affected the market.

“I don’t feel COVID affected the result,” Ms Senior said. “The buyers were all there from day one.”

She said it was “really quite strong at our opens today” and noted one property attracted 21 one-on-one inspections on Saturday.

“No signs of slowing down, the amount of inquiry through online is really the same. The volumes are still there. There’s no change there and they all still want to buy as soon as they can.”

SOLD - $3,625,000

91 Barcom Avenue, Darlinghurst NSW 2010

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In Darlinghurst, a local owner-occupier bought a five-bedroom terrace at 91 Barcom Avenue for $3.625 million, outbidding several investors.

Five parties registered to bid on the run-down home, including three investors looking to flip it.

Bidding opened at $2.7 million – $100,000 below the price guide – but it steadily rose as four parties pushed up the price.

The hammer fell at $3.625 million, which was $525,000 above the $3.1 million reserve.

Jeremy Brink, of Ray White Taylor and Partners, said it was a standout result for a unique property that was hotly contested.

“Buyers and sellers alike are familiar with lockdown and COVID so it’s not alarming [and] things are still transacting at current market rates.”

The property last sold for $190,000 in 1987, records show.

SOLD - $1,867,000

4 Boundary Road, North Epping NSW 2121

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In North Epping, a three-bedroom house at 4 Boundary Road sold for $1.867 million after it hit the market for the first time since 1959.

Five parties registered to bid on the 753-square-metre property. Proceedings opened at $1.6 million, about $150,000 below the guide, and all but one of the bidders participated.

The house sold to an older couple who planned to knock it down to build a single-level home around the corner from their daughter’s home. The reserve was $1.8 million.

The Agency North’s Catherine Murphy said this latest lockdown would result in more people reassessing their living situation.

“We are expecting lots of buyer activity – because of this lockdown it will start to gallop again,” Ms Murphy said. “There’s confidence we will get through okay, the economy won’t fall through a hole and life will go on.”