Boom-like conditions at inner west auction

Boom-like conditions at inner west auction

A double-brick home in Burwood sold at auction for $2.108 million on Saturday through Belle Property-Strathfield agent Norman So.

The house at 9 Gladstone St on 474sqm of land attracted owner occupiers and investors, with bidding kicking off at $1.8 million.

Bids increased by $10,000 and $20,000 from four of the parties up to the reserve of $2 million.

Over the course of the auction there were 58 bids and eight bidders registered.

The eventual buyer is a local looking to downsize into a smaller property.

“They were attracted to the home’s location and ideal floorplan on a single level layout,” Mr So said.

Auctioneer Jesse Davidson commented that the auction was like ones seen in a rising market, with non-stop bidding from multiple buyers.

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A Five Dock home at 7 Trevanion St also sold under the hammer for $2.85 million, a new street record.

With five bedrooms and on a 868sqm block, the house had four registered bidders with the auction starting at $2.5 million.

There was strong bidding from the outset, rising in increments of $50,000. Selling agent Simon Furnari of Belle Property-Strathfield said there was interest from families and developers.

“The market is still buoyant especially in the inner west and this result shows,” he said. “Buyer interest has been strong with houses and large parcels of land in the area.”

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