A lucky Local Agency Co. client had extra reason to celebrate this long weekend, selling their much-loved Paddington apartment for $30,000 more than their reserve.
The recently renovated one-bedroom 28/204 Jersey Road sold for $780,000, with two bidders duking it out for this stunning inner-city oasis.
The auction came on the back of a strong sales campaign, which saw enquiries from over 270 parties.
Sitting perfectly between Paddington and Woollahra, the property’s ideal location appealed to both first-home buyers and investors.
Listing Agent, Michael Stavrianos, said the combination of the inner-city convenience and tranquil, leafy outlook proved popular with potential buyers.
Despite initial concerns about the timing of the auction, held on the traditionally quiet Easter long weekend, it ended up working in the vendor’s favour.
Mr Stavrianos said that being the weekend’s only scheduled auction in Paddington / Woollahra meant the buyers in attendance were more focused on the property.
“On a normal weekend, most serious buyers would be attending multiple inspections and possibly participating in multiple auctions”, he said.
“Being the only property in the area going under the hammer this weekend meant we could be the main attraction.”
Further setting the property apart, the vendor agreed to be completely transparent with potential buyers and disclose the reserve price to all interested parties.
Mr Stavrianos said that this choice was a key contributor to the great outcome they achieved.
“Buyers want to know whether they are really in the market,” he said.
“Our bidders came along to the auction knowing what to expect and ready to compete.”
If you need to sell or are considering buying, we’re here for you. Our team are experts in preparing properties for sale, are across the latest market trends, and are always happy to share their thoughts and insights. So, if you need a little help selling your property or planning your next move, contact Local Agency Co. to discuss your options.