Young couple beats 14 others to splash $3.2m on trend-defying red brick house

Downsizers set a suburb record for a two-bedroom unit in Canterbury at $1,097,000.A 1950s red brick house in Eastwood has sold for $3,289,000 to a young couple upsizing from Campsie., set on 1065 square metres, was on the market for the first time since 1953.

Bidding started bang on the guide and reserve, rising in increments from $50,000 down to $10,000 for most of the auction. It came down to two bidders from $3.1 million until it sold.The Agency North’s Catherine Murphy said it was a surprising result for a home in a local heritage conservation area that limits its redevelopment potential.“Houses in these areas do suffer because there isn’t a whole lot of potential.

Eastwood’s median house price rose 5.7 per cent to $2.42 million in the year to March 2024 on Domain data.In Canterbury, downsizers got a two-bedroom unit that sold to them for $1,097,000.had a price guide of $800,000 at the start of the campaign before it was revised to $850,000.Six out of the 13 buyers, a mix of upsizers, downsizers and first timers with the bank of mum and dad, raised the price in mostly $10,000 increments.“There’s still a really tight apartment market in terms of stock.

“ planning to renovate, then work it out from there, whether they want to live in it or rent out,” he said, adding that the underbidder had hoped to flip it.In Erskineville, a young couple from the inner west paid $2,185,000 for a three-bedroom townhouse.The home atBidding opened at $2 million and quickly rose past its $2.1 million as four buyers participated in the sell off.

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