AN original five-bedroom house in North Parramatta sold under the hammer and went a whopping $331,000 above reserve.
Bidding for the home on a corner 743sq m block, at 104 Macarthur St, started at $500,000. It attracted more than 40 registered bidders.
The property was sold for $1.331 million through agent John Dahdah of LJ Hooker Parramatta.
“The house was run down and hard to renovate, it was very old on the inside and the only real option was to knock it down and start new,†Mr Dahdah said.
“But it is a great block with uninterrupted views of the (Doyle Ground) park and it is close to the university and Parramatta CBD.â€
Despite competition from local homeowners and developers, it went to an out-of-area buyer.
“It sold to a man from Mt Druitt — who works in Parramatta — who is going to build the dream home for his family on the block,†Mr Dahdah said.
The median house price in North Parramatta rose 15.4 per cent in the past 12 months to $761,500, CoreLogic RP Data figures show.
A large house in Oatlands sold prior to auction for $1.86 million.
No. 5 Blairgowie Pl was listed and sold by Sandra Aquilina and Frank Bartolone of McGrath Parramatta. Ms Aquilina said the Âelegant house on 900sq m sold to a family.
“They were keen to purchase prior to the new year,†she said.
McGrath Parramatta agent Sam Dehaiby sold a charming three-bedroom semi in Granville for $633,000 at auction.
Mr Dehaiby said an investor from Pymble paid well above the $550,000 reserve to secure the home at 22 Victoria St.
A two-bedroom apartment at 3/4 Barangaroo Rd, Toongabbie sold off the plan for $485,000.
It was sold by Elders Real Estate Toongabbie agent Leon Gietzmann, who said the unit block was due for completion this month.