• May 3, 2021

Demand for prestige property shows no signs of slowing if recent results are anything to go by. Over the past week we saw a number of impressive prestige sales transacted after the Easter holiday break.

42 Renwick Street, Drummoyne

Our Drummoyne office had a massive week with the sale of 321 Victoria Place by Daniel Patterson and Mia Fredrix for $4.35m. Tim Wieland and Jack Hughes also secured a fantastic result for 42 Renwick Street, Drummoyne in an off-market transaction that fetched $3.41m, setting a new street record.

Of the result Jack commented, “We were engaged for this sale for a couple of reasons. The owners had moved to the USA and remembered that we’d sold 56 Renwick Street off-market at the beginning of the year. They also recalled Tim as an agent who was particularly easy to deal with. The sale was carried out with no marketing spend. All we had was a floorplan and we got buyers to look at the property via our database and off the back of other listings. We also had to work closely with tenants who were living in the house while we were showing it.

We found the eventual buyer via our database and through appraising their own apartment that they planned to sell. While they signed with another agent, we still worked with them and even brought some more buyers to their sale. In turn they were able to negotiate a higher price on their apartment and secure 42 Renwick Street off-market. They were one of two buyers that made offers.”

92 Johnston Street, Annandale

We achieved one of the highest priced property sales in Annandale this year with Julie Hatch’s sale of a captivating house with a studio at 92 Johnston Street that sold under the hammer for $4.35m. Julie comments, “The vendors had purchased the property from me and I assisted them through the renovation of the home, referring them a great builder. We ran a four-week auction campaign to capitalise on the heat in the market and the response was strong. The interest came predominantly from the Inner West and the North Shore and we had two buyers at a similar level making offers. In the interest of transparency we brought the auction forward by two weeks after a mid-week open house. The ultimate buyer came from our database as they had previously purchased another property through us, with this sale really highlighting the value of establishing great relationships.”

14 Tasker Ave, Clemton Park

Across the remainder of our regions, Jim Nikolopoulos and Joseph Karam had a strong weekend of auctions and secured three terrific sales in Peakhurst, Marrickville and Clemton Park, a sought-after suburb sharing a postcode with Earlwood, where the pair sold a solid family bungalow with potential and a granny flat at 14 Tasker Avenue under the hammer for $1.225m.

Joseph comments, “We were engaged to sell this property thanks to our established relationship with the vendor, and having had success in previous transactions they were eager for another great result with our team. From the start we committed to an effective marketing campaign which exposed the property to a range of purchasers, reaching Inner West buyers that were perhaps priced out of the Marrickville market. The response to the campaign was incredible, with 64,866 online views and 23 contracts issued. It appears we’ve had many buyers missing out on property in the Clemton Park pocket since the beginning of 2021.

To find the right buyer we worked to understand the needs and capacity of each party that came through the property. We were transparent with the need to sell, the level of interest and the reporting to ensure buyers were well informed to determine if this was a potential property for their shortlist. Transparency is key to a smooth sale. The ultimate purchaser was married to this property. Having come across them in their buying journey for many months, we were able to match them with the home based on their needs and price point. The challenge in this market is that we’re dealing with an ever-changing landscape that is tricky for buyers who are unsure of what price point properties can achieve at auction.”

1/46 Military Road, North Bondi

One of the more heated auctions of the week came from Anthony Ross’s sale of a two-bedroom apartment with parking and ocean views at 1/46 Military Road, North Bondi, in a market that’s definitely one of the hottest, most contested in the country at the moment.

“We had managed this property for years and the vendor was pleased with our service and didn’t consider selling with anyone else,” says Anthony. “Our marketing looked great and strategic advice around presentation and correct price positioning were instrumental in taking advantage of the strength in this particular market. There is a massive appetite for property of this nature here at the moment. We had more than three times the average buyer engagement online and more than 100 buyer inspections which resulted in 18 registered bidders at the auction.

We were in constant communication with our vendor, keeping her updated with genuine feedback while guiding her through the process every step of the way. Buyer interest was peaking with many wanting to make offers so we decided to bring the auction forward one week to align with the solid interest. The ultimate buyer was a Bondi local who planned to renovate and lease out the property.”

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