A Sydney Real Estate Agent Was Shocked At The Record Price He Got At A Weekend Auction

The sale of a house on Sydney’s lower north shore has greatly exceeded agent’s expectations, eclipsing the top sale price for the suburb.

It is the second time Artarmon’s price record has been broken this year. The current record was over the weekend when a 700-square metre property in at 9 Pyrl Road sold for $2.95 million – $350,000 above reserve.

LJ Hooker selling agent John McManus said the sale reinforced the notion that competition forces good prices.

“I’ve not seen so many people after a single property in some time,” McManus told Domain.

“Buyers have finally discovered Artarmon because it is close to rail and the school is one of the top in the state.”

Two months prior a four-bedroom house on a double block held the record at $2.82 million.

Another property – an unrenovated fibro beach shack in Newport – listed for $600,000 (land value only), sold for $815,000 at auction over the weekend.

For a sixth straight week Sydney’s auction clearance rate topped 80%, as interest rates remain low and buying competition grows.

More here.

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