Waterfront home near Cronulla sells for $7.2m as buyers join the auction Christmas rush
A stunning waterfront property almost an hour south of Sydney sold under the hammer on Saturday for an eye-watering $7.2 million, on one of the last auction weekends for the year.
The five-bedroom property at 662 Port Hacking Road, Dolans Bay, was snapped up by a local family – for almost 4.5 times more than what the vendors paid for it in 1995.
Back then, they bought the home for $1.65 million, records show.
McGrath Cronulla’s Murray Cole said there were four registered bidders, two of them active, who fought it out for the keys to the property, which includes its own jetty, pontoon, boat shed and a full-sized tennis court.
Mr Cole said the ecstatic vendors would now be looking to downsize because they no longer had children living at home.
“They’ll be looking to buy something single level in the future,” Mr Cole said.
The sale was one of the biggest recorded at the weekend, which saw property buyers in a last-minute rush to find their dream home before Christmas. Sales have been running later into the year because of the pandemic, with vendors now signing up to sell early next year.
“December and January over the past few years have been really busy and this year people are now quite comfortable to look and buy just before Christmas,” Mr Cole said.
At the weekend, there were more properties for buyers to choose from, with Sydney having one of its biggest auction weekends for the year. There were 870 scheduled auctions – 62 more than this weekend last year.
By Saturday night, the preliminary auction clearance rate sat at 76.4 per cent after 658 results were reported.
There were 80 properties withdrawn from auction which were counted as not sold as part of the clearance rate.
In Sydney’s inner west, a resort-style home at 69 Chalmers Road, Strathfield, which also had a tennis court, sold for $5.35 million at auction.
The result was well above price expectations that were set in the high $4 millions.
Selling agent, Devine Real Estate’s Greg Emerton said the buyers, one of four registered bidders, were a local family.
“One of the main reasons they bought it was for the tennis court,” Mr Emerton said. “They have two young kids who are tennis players.”
While the buyers were upsizing their home, the vendors were also looking to move to a bigger property, somewhere in the local area, he said.
Families also bid on a five-bedroom home in Sydney’s upper north shore, after the recently completed rebuild was auctioned on Saturday, selling under the hammer for $4.71 million.
There were seven bidders registered at the auction of 70 Robinson Street, East Lindfield, which sold for $210,000 above the reserve.
The sale price was a record price for the street, Di Jones Lindfield’s Nahid Coventry said.
“The people that bought it were a young family from the eastern suburbs,” she said.
The home included a pool overlooking the surrounding bushland and had been built to sell, with the developers rebuilding 95 per cent of the original home.
“It was one of a kind and attracted a lot of people,” Ms Coventry said.
Elsewhere in Bella Vista in Sydney’s west, a four-bedroom home sold for $221,000 above the reserve after an investor outbid 11 other registered bidders.
The property at 10 Pipersbrook Crescent sold for $2.21 million, with many families missing out on the sale.
Selling agent McGrath Castle Hill’s Jacki Mansour said the buyer was eventually planning to move into the home, but would be renting it out in the meantime.
“It was a very competitive auction,” Ms Mansour said. “The vendors have owned the property for 16 years since it was built and they are downsizing in the local area.”
Meanwhile, on the lower north shore, a six-bedroom home that was part of a deceased estate, sold under the hammer for $4.39 million on Saturday.
The home at 46 Baldry Street, Chatswood, had four registered bidders competing, including a phone bidder from Victoria.
But it was a buyer from nearby Roseville that made the winning bid.
Ray White Lower North Shore’s Robert Bacic said the home, which had been owned by the same family for about 40 years, sold close to its price guide. The home was sold by the former owner’s sons and daughter, Mr Bacic said.
“They were very, very, happy,” he said
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