BREAKING: A young family from Ryde has just secured a stunning Federation home in Bexley for $1.94 million at an auction held on Saturday, October 14, 2023. The property, located at 1 Park Avenue, was hotly contested among six registered bidders, making for an intense auction atmosphere.
The three-bedroom, double-brick residence was initially guided at $1.7 million and had a reserve set at $1.8 million. The rapid bidding began at $1.72 million and escalated in increments of $30,000 and other amounts, demonstrating the competitive nature of the Sydney property market, which saw 706 properties scheduled for auction on the same day.
The buyers, who had previously owned homes but were new to purchasing a house, expressed immense relief and excitement at finally securing their dream home. According to Luke Lombardi of Pulse Property Agents, this family had faced disappointment in their search for a property before this successful bid. “They are very delighted to have secured the keys,” Lombardi stated.
The property’s appeal was heightened by its heritage charm and desirable corner block location directly across from a park. Notably, the home is heritage-listed, preventing developers from participating in the bidding, and thus keeping the competition focused on families looking for a home. Lombardi highlighted the interior features, which include leadlight windows, ornate ceilings, and a timber-clad kitchen, as significant selling points.
This auction reflects a broader trend in Sydney’s real estate market, where families are increasingly competing for heritage-listed homes. As the market continues to heat up, potential buyers are urged to act quickly and remain vigilant in their searches.
As the dust settles from this auction, the focus shifts to upcoming listings and what aspiring homeowners can expect in the weeks to come. With demand remaining high, all eyes will be on the next round of auctions scheduled for next Saturday.
Stay tuned for further updates on this developing story and more insights into the current real estate trends shaping Sydney’s housing market.
