Beach property is super hot this January: a Bondi apartment attracted 104 groups to its Saturday’s open home and a Bronte apartment sold for $5.4 million, $700,000 above its price guide.
Angus Gorrie of McGrath said he was “totally blown away” to have what he thought to be a record number of groups through the two-bedroom apartment at 21/24 Sandridge St, Bondi Beach.
“So that’s 104 groups meaning we actually had about 200 people crammed into the apartment during a 30-minute inspection,” Mr Gorrie said.
The older-style north-facing 56 sqm apartment on the fourth floor has coastal views from windows on three sides and a balcony.
But it’s not perfect: it needs work and has only “scatter” off-street parking, which means first in best dressed.
The price guide had been $775,000, based on a similar sized one-bedroom apartment with a similar view selling for $720,000 last September.
But after the huge interest, he and colleague Astrid Joarder have now upped the guide to $800,000 and brought forward the auction by two weeks to January 25, the Saturday before Australia Day.
Explaining the huge interest, Mr Gorrie said: “It was probably the first open of the year so there’s renewed energy and confidence and no stock out there at the moment.”
Another sign of the market’s strength is yesterday’s $5.4 million sale of the refurbished Bronte apartment owned by the US-based Woo family.
Mr Gorrie had a $4.7 million guide for the three-bedroom, two-bathroom apartment at 3/13 Bayview St ahead of an auction scheduled for February 1.
Mr Gorrie listed the top-floor apartment — with superb ocean views, direct lift access and pool — in early December, knowing it was going to be popular over the summer break, possibly with a visiting expat.
He issued nine contracts, including three expats.
By yesterday it was “on the market” with an offer of $5 million triggering a bidding war between four parties.
In the end it was a north shore downsizer who won the contest and Mr Gorrie had the deal done well before the scheduled auction day.