The vendors of a luxury Kellyville residence were left shocked after it sold at auction for $256,0000 over the reserve at $1.816 million.
A total of 22 buyers registered to take part in the auction for 40 Maeve Ave, which double the amount of bidders that had been expected to take part.
It came as the auction for the stunning residence was moved forward a week due to incredible demand from 80 groups during the campaign.
The sale helped Sydney record the second highest clearance rate in Australia on the weekend with 81.7 per cent — trailing Adelaide, which had 87.1 per cent of all homes sell.
Lockdown affected the Melbourne market, which recorded a 48.6 per cent clearance rate.
The Hills region recorded a 79 per cent clearance rate with 15 of the 19 homes marked sold.
Auctioneer Michael Garofolo said a total of 42 bids were placed during the Kellyville auction, which came in so far, he struggled to keep up.
“I struggled to get a word in during the auction due to how quick buyers were bidding,” he said.
“They just went for it and left me as more of a conductor than an auctioneer.
Sciberras Groups RE’s Corie Sciberras said he did not expect 22 registered bidders to show up on the day.
“We generally thought we would get 11 bidders, but it goes to show what the shortage of homes for sale is doing,” he said.
Mr Sciberras said the four-bedroom property purchased by a young family who were upsizing.
Nineteen bidders took part in an auction for a gigantic five-bedroom house in Cherrybrook.
The Gavin Place residence sold under the hammer for $2.53 million at a virtual auction conducted by Stu Benson.
The result was $130,000 above the reserve and $330,000 higher than the price guide set at the start of the marketing campaign for 33 Gavin Place.
Mr Benson said only 23 bids was required for the property to sell under the hammer, despite having 19 buyers register to bid.
“We’re seeing bidders increase their budgets to get into the market before the market gets away from them,” he said.
“Buying this week means you start making money next week, it’s that simple.”
The property was listed with Greg Nicolson of Louis Carr Real Estate. Over 140 people watched the action via AuctionNow.