The best homes of the east are being snapped up quickly before auction, with an $8m Centennial Park home selling this morning, two Bronte homes for $5m and $4m yesterday and a Point Piper house for more than $13m last week.
These followed the pre-auction sale of a Bellevue Hill home, also last week, for well above its guide of $5.2m to $5.3m guide.
But showing that vendors need to be willing to negotiate, the purchaser of the grand five-bedroom mansion ‘Warwick’ at 48 Martin Rd, Centennial Park — due to go under the hammer next Saturday — was the highest bidder at a home up for auction in Robertson Rd nearby yesterday.
The sales agent for the Martin Rd property, The Agency’s Ben Collier, wouldn’t disclose the sale price or the identity of the purchaser of the Federation mansion on an 828sqm block.
But it’s known he had been quoting a price guide of $8 million for the home, that records show is owned by the Ross family.
McGrath agents Kevin Mendes and Imran Hamidi, who put the charming five-bedroom Centennial Park home of TV producer Nick Murray at 21 Robertson Rd up for auction yesterday, couldn’t be contacted this morning.
The property passed in at $7,785,000 but Mr Mendes had five registered parties to negotiate with and by last night the offer was at $7,975,000. The price guide had been $8 million.
In Point Piper, the Wolseley Rd home of Blue Rivers executive Grant Fuzi and his wife, Naomi, hadn’t been scheduled to go under the hammer until March 18.
Laing and Simmons Double Bay’s D’Leanne Lewis had a guide of $13 million.
But it was snapped up last week.
Ms Lewis was bound confidentiality agreements and refused to discuss the sale. However, other sources said it sold for above the guide.
Ms Lewis also sold the Bellevue Hill home of the Australian chief financial officer of UBS, Andrew Ulcoq, and his wife Emily, Partner, Transformation Services at KPMG before its March 18 auction.
Ms Lewis had been quoting a $5.2m to $5.3m guide. Sources said it was as much as $5.7m.
Phillips Pantzer Donnelley’s Alexander Phillips also had a strong weekend, selling a five-bedroom, three-bathroom home with pool at 436 Bronte Rd, Bronte for $5,375,000. It had been on the market for just two days.
He also sold a four-bedroom home at nearby 2A Gardyne St — scheduled to go to auction in two weeks with a $3.8m guide — for $4 million.
Buyer’s agent Carli Skurnik of Buyeast says many of the people registering to bid at auction are sitting on their hands. “Often it’s just the buyer’s agents who are bidding,” she said.
Another buyer’s agent, Simon Cohen of Cohen Handler, said: “We’re in a market where vendors are getting more realistic and that’s coupled with a a lack of good quality stock on the market.
“A lot of people have been looking for a long time so when the right property comes up at the right prices they’re gettiing snapped up, so buyers are able to get ahead of the competition.”