Rozelle homeowners pocket $1 million in resale profit amid mixed auction results in rest of Sydney

Rozelle homeowners pocket $1 million in resale profit amid mixed auction results in rest of Sydney

The sellers of a 130-year-old terrace in Rozelle have pocketed more than $1 million in resale profit after a bumper auction that attracted 11 registered bidders.

The four-bedroom house at 548 Darling St sold for just over $2.32 million — marginally above the $2.3 million reserve but more than double the 2007 price of $1.13 million, according to CoreLogic records.

Selling agent Peter Gordon of Cobden and Hayson-Balmain said the house with views of the city skyline and Harbour Bridge was a hit with families in the lead up to Saturday’s auction.

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“It was really popular and we got interest from all across Sydney,” Mr Gordon said, adding that the number of buyers registering at auctions appeared to be on the increase.

“It’s probably the highest we’ve seen in six months. Buyers are there, they’re ready to compete if they think the price is right.”

A three-bedroom house at 228 Trafalgar St in nearby Annandale was among the other inner west sales this weekend, changing hands for $1.45 million. The result was level with the price guide.

Selling agent Rebecca Duncan of Belle Property-Annandale said the sale showed the market wasn’t as bad as many made out.

“It’s definitely a tough market, but a good house will always sell,” she said.

In Surry Hills a two-bedroom unit defied earlier price expectations, selling under the hammer for $1,002,000.

Selling agent James Ledgerwood of The Agency said initial feedback from buyers suggested the home at 45-49 Holt St would sell for around the $980,000 mark, but heated competition at the auction pushed the price up.

Four buyers registered for the auction and there were more than 20 bids placed on the property, starting at $900,000.

“(The unit) is in a really good location so it attracted a mix of buyers,” he said.

The new owner is an investor with plans to rent the home out.

The property was one of nearly 565 Sydney homes scheduled to go under the hammer today. Last week 50.2 per cent of the nearly 580 homes that went under the hammer sold.

CoreLogic figures published this week showed the median price of a Harbour City home, which includes units, townhouses and detached dwellings, fell 1 per cent over the past month.

The fall followed a 1.3 per cent drop in the median over January, which pushed the total fall for the past quarter to 4.1 per cent.

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