Knockdowns the hottest this spring

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THEY’RE at opposite ends of town — one was in Strathfield in the inner west with potential for a tennis court; the other

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73 Newton Rd, Strathfield sold for $5.5 million — $600,000 above reserve.

But they had one thing in common — the new owners intend to knock the houses down.

Both were super hot property at Saturday’s start to spring, with Strathfield house fetching $5.5 million — $600,000 above its reserve; and the North Curl Curl home for $2,255,500, nearly $400,000 above reserve.

But other homes up for auction on the opening day of the spring selling season were far from hot. There were 638 homes scheduled to go under the hammer. With 445 of the results in by Saturday evening, CoreLogic put the clearance rate at a sombre 68.09 per cent — 0.42 per cent lower than last week.

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Room for a pony — or a tennis court at least — at 73 Newton Rd, Strathfield.Source:Supplied

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Ample room in the kitchen, too.Source:Supplied

In Strathfield, an Ashfield doctor and his wife bought the comfortable double-storey home of the late Marion Peasley, at 73 Newton Rd, who died in June at the age of 86.

Up for auction through Devine Real Estate agent Joe Campisi said, it had been in the Peasley family for 88 years.

The double-storey home had four bedrooms and two bathrooms, but what made it a gold was the size of the block: at 1,416 sqm, it was one of the last few potential tennis court blocks left in Strathfield.

Seven people registered to bid, with four active. But they were all determined. Kicking off at $4.4 million, there were a couple of $100,000 and $50,000 bids.

“Every one who was interested planned to knock down the house and build a McMansion with a tennis court and pool — all the bells and whistles,” Mr Campisi said.

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Date with a bulldozer: 112 Headland Road North Curl Curl.Source:Supplied

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Ocean views.Source:Supplied

There’s also plenty of dough flying round on Sydney’s northern beaches, where a young couple from Beacon Hill were dead keen on a five-bedroom home at 112 Headland Rd, with a price range of $1.7 million to $1.87 million.

But they didn’t show their hand until the last minute.

With 10 people registering; the five others worked themselves into a lather between $1.4 million and $2,255,000 with a series of $50,000 bursts.

But by then they were all exhausted — the buyers offered $500 more and it was theirs.

“It wasn’t a bad tactic,” sales agent James Eyden of Clarke & Hamel Property said later.

Some spring buyers in other parts of Sydney were happy enough to keep the existing houses and pay decent money for them.

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Botany Bay views at 28 Elaroo Avenue, Phillip BaySource:Supplied

A four-bedroom home at 28 Elaroo Ave, Phillip Bay, sold for $2.07 million — $220,000 above reserve.

The views across Botany Bay were a big part of the appeal and there was a choice of bright living areas to choose from, along with an upstairs retreat.

Eight bidders registered for the property, which was up for auction via Marnie Seinor of McGrath Coogee.

The buyers, and all those interested, were families upgrading from apartments.

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A unit in 17/1-7 Argyle Street Carlton sold for $760,500.Source:Supplied

In the south, a two-bedroom apartment at 17/1-7 Argyle Street, Carlton, sold for $760,500 — $60,500 above the reserve — through David Travers of McGrath Brighton Le Sands.

There were 14 bidders register — yet only four got some bids in because of the “knockout” opening bid of $680,000.

Most of those keen had been first home buyers.

The weekend’s start to spring – considered the prime time to sell your property – was a far cry from last year when it was 83 per cent. “The market was on an upper trajectory this time last year, things have certainly softened since then,” the auction commentator for the research firm CoreLogic, Kevin Brogan, said.

It’s the south-west that’s hurting the most, with the clearance rate a lowly 46.51 per cent over the week.

Wiseberry Bankstown agent Rania Azzi blamed a surge in spring listings. “Vendors need to lower their expectations a bit,” she said. In Parramatta, it was 52.94 per cent.

The weekly data shows the eastern suburbs clearance was strongest at 81.25 per cent; the city and inner south was 79.5 per cent; the north shore 75.28 per cent; the northern beaches were 72.73 per cent. Sutherland, too, was relatively strong at 75 per cent.

The inner west - often described as the auction engine room - was 67.31.

Originally published as Knockdowns the hottest this spring

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