Domain & The Sydney Morning Herald | By Tawar Razaghi | June 1, 2024
A 1950s red brick house at 29 Wingate Avenue, Eastwood, on the market for the first time since 1953, sold at auction on Saturday for $3,289,000 to a young couple upsizing from Campsie.
Listed by The Agency's Catherine Murphy, the home had a price guide of $2.45 million and drew 15 registered bidders, a mix of young couples, families and renovators.
She 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. You can’t easily knock the house down or easily build a duplex there,” Ms Murphy said. “Normally, when that’s the case, you do cut your market in half so they’re not traditionally as popular, but this one bucked the trend.”
Despite that, there were enough keen buyers in the market for a home in the current environment and the block ticked several boxes.
“It had all the right things, it was in an amazing location, on the high side of the street. This is a very strong result and I don’t think it’s an indication of how our market is travelling overall at the moment.”
The auction was also featured in The Sunday Telegraph's Hot Auctions.
Read the online article HERE.
