Coronavirus real estate: online auction success as Clovelly deceased estate sells for $1.77m

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The rundown semi at 59 Varna St, Clovelly, sold for $1.77 million at the online auction.

A Clovelly deceased estate sold for $1.77 million last night in an online auction as McGrath CEO Geoff Lucas sang the praises of “great tech solutions” amid the coronavirus crisis.

With the government’s ban on public auctions coming into effect on Wednesday night, the sale of the rundown two-bedroom semi — in the same family for 50 years — at 59 Varna St went virtual.

The five registered parties logged on at home, with auctioneer James Hayashi and the two McGrath Coogee agents Mark McPherson and Emilee Tayyara several metres apart at their office.

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The interiors needed some love …

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… and so did the back yard.

Bidding had opened at $1.65 million and Hayashi slammed the gavel down eight bids later, with a young family nabbing the home on a 228 sqm block.

They plan to do a minor renovation now and a major renovation down the track.

Lucas applauded auctioneer Damien Cooley’s AuctionNow by Realtair platform. “It’s definitely a big part of the future and we’re pleased to see a positive coming from this crisis in that great tech solutions are being dragged forward that will help efficiency well into the future,” he said.

McPherson said the result was within 5 per cent of his original appraisal of the property but admitted the property could have sold for $2 million three weeks ago before the coronavirus struck.

“There’s a lot of opportunities for buyers out there,” he said.

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171A Windsor St, Paddington sold for above its $5.45 million price guide, through McGrath Double Bay’s Benjamin Goodwin.

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It previously sold for $5.15 million in December 2017.

In other sales yesterday, a north shore family snapped up a grand corner terrace at 171A Windsor St, Paddington for above its $5.45 million guide within a week of it hitting the market.

It had originally been scheduled to go to auction on April 21.

The result was well above the $5.15 million the vendors had bought it for in December 2017 and they’d done no renovations.

“The purchaser was downsizing and he just wanted to be in a really beautiful home,” Goodwin said.

“This will be a long-term hold … it’s not a dangerous investment to buy in the most exclusive suburb in Paddington,” Goodwin said.

Three sales by Angus Gorrie, also from McGrath Coogee, went sailed way over their price guides, one as recently as Wednesday.

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49 Birrell St, Queens Park sold a week ago for $1,170,000. The guide was $1.6 million with Angus Gorrie.

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4 Arcadia St, Coogee, sold on Wednesday for $3,125,000, $125,000 more than the guide.

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21 Tasman St, Bondi, sold 10 days ago for $2.95 million. The guide was $2.7 million.

The houses in Queens Park, Coogee and Bondi had all been scheduled to go to auction this Saturday and they all sold for between $125,000 and as much as $250,000 above their price guides.

“We’re working with qualified buyers who a ready to move and vendors are meeting the market and still getting good prices,” he said.

The Agency’s Bethwyn Richards sold the South Coogee home of Conexum CEO John Crewe and his wife Nicola yesterday for above its $3.3 million guide — a five-bedroom, three-bathroom home on a 405 sqm block with a double garage at 130 Bundock St.

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130 Bundock St, South Coogee was originally scheduled for April 4 auction with The Agency’s Bethwyn Richards.

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It sold yesterday for above its $3.3 million price guide.

It had been originally scheduled for auction on April 4, it was brought forward to this weekend.

“A family fell in love with it,” Richards said.

“We’ve still got lots of really qualified and finance-ready purchasers trying to secure houses.”

She said many purchasers were insisting on longer settlements if they hadn’t already sold their existing homes.

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668 Old South Head Rd, Rose Bay, sold for about $3.2 million through LJ Hooker Double Bay’s David Malouf.

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It sold to a “bloke who stuck his head in”.

Meanwhile, LJ Hooker Double Bay’s David Malouf with colleague Daniel Baran sold a three-bedroom house on busy Old South Head Rd in Rose Bay yesterday for about $3.2 million to “a bloke who stuck his head in” who “lived up the road”.

CoreLogic shows it last traded for $2,325,000 in 2016.