Sydney auctions: North Ryde sells to developers after attracting 31 bidders to auction
There were 31 buyers hoping to buy 17 Fawcett St, Ryde, on Saturday.
The insatiable Sydney demand for a home with a big back yard and garden saw more than 30 buyers throw their hats in the ring for a chance to own a three-bedroom Ryde house.
The overwhelming demand for 17 Fawcett St, Ryde, saw the auction moved forward by a week and resulted in four open homes a week.
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Under an overcast morning, bidding started at $1.6 million before climbing very quickly passed the $1.676 million reserve.
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Close to a dozen of the 31 registered parties placed a bid as the property sold under the hammer for $1.965 million — $289,000 above the reserve.
Richardson and Wrench Ryde City principal Conor Arnold said he moved the auction forward for the three-bedroom house. which was on the market for the first time since 1957, so buyers would not loose interest in the property.
“When the buyers are there you don’t want to make them wait as they could find something else in the meantime,” he said.
Huge backyard allowed for the potential of a duplex.
The property last sold in 1957.
Mr Arnold added the property was very popular due to its 694sqm block, which offered potential for development.
“It was purchased by a party who is looking to build a duplex on the site,” he said
“This was the appealing factor for majority of buyers in attendance.”
The Richardson and Wrench principal said there has been plenty of new buyers enter the market over Christmas.
“Many are telling me that they are seeing prices go up and feel that they to be in the market now to beat that,” he said.
No. 19 Holt St, North Ryde.
In nearby North Ryde, the seller’s of a Holt St home on the market for the first time in 40 years are over the moon after it sold at auction for $1.98 million.
The price was pushed $80,000 higher than the reserve after 12 bidders registered to compete, according to auctioneer Michael Garofolo.
Killara Real Estate’s Vera Wong said 19 Holt St sold to a family who were of 140 groups to inspect it.
“The sellers wanted it to go to a family and not a developer, so they are thrilled,” she said.
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