Today I’m attending two auctions in the Upper North Shore.
It’s a day of potential knockdown and re-builds.
The first auction is in Hornsby. I’m predicting this property will sell around $1.2m.
The second property is in Gordon. The guide price is just over $1m. I’m predicting this property will sell for around $1.55m.
I will elaborate in more detail about the properties and auctions later today.
An overview of the auctions:
The first property at 31 Nursery St, Hornsby was very interesting.
It’s a total knockdown in my opinion. The land at the back has a big slope. You would need to undertake alot of excavation or have a very clever home design.
The auction had about 30 people there.
There were 3 serious buyers.
The auction started at $1m. Gradually went up to $1.1m. Then $1.2m. From $1.2m the price gradually crept at times of $500 increments, $1,000 increments, back to $5,000 increments. Eventually landing up at $1.29m.
The second property was at 82 Ridge St, Gordon.
As soon as I entered this property I knew my earlier prediction would be well out.
There must’ve been about 100 people at the auction.
The reserve was apparently $1.1m. Which is probably why!
The property is another total knockdown in my opinion.
The buyer will likely knock it down. Then build a granny flat on the back with the side access.
The auction was quick and too the point. Like a 100m final with one Usain Bolt. Moving from $1m with pace through to $1.7m then gradually to $1.8m and finishing at $1.81m.
All in all an interesting day of auctions.