‘Neck-and-neck’ battle as Fairy Meadow home goes under the hammer
Bidders weren’t sitting on their hands when a Fairy Meadow home went to auction last week.
The property proved appealing to a range of buyers from the Illawarra and beyond, and ultimately changed hands.
The selling agent, Paul Piacentin from Stone Real Estate Illawarra filled us in on the sale.
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Mr Piacentin said the red brick home, which had a practical floorplan, and a level, child-friendly backyard, had appealed to both first-home buyers and developers interested in the 600.7 square metre block.
“It was dead level, has a north-to-rear sunny aspect, and escarpment views,” he said.
According to CoreLogic records, the home was built in 1960.
“There were six registered bidders, including one online bidder from Sydney. There was a buyer from Melbourne, and the rest were locals,” Mr Piacentin said.
It took place on-site, with a crowd of more than 30 people there, including the bidders and their families as well as the neighbours.
“We’re still seeing strong presence and bidding from local buyers at auctions,” he said.
“As much as a lot of the Sydney buyers are coming down to downsize and so forth, we are also seeing the Thirroul/Austinmer market downsizing to suburbs like Fairy Meadow and Balgownie.“
Mr Piacentin said there was strong bidding from the beginning of the auction.
“Often at auctions everyone just stares at each other, waiting to see who the first bidder will be. But this started strongly, with an opening bid of $1.15 million,” he said.
“It initially went up in $50,000 amounts, then down to $20,000s, and the last bids were $10,000 and $5000 bids.
“There were seven or eight bids placed in total. The two bidders that were eventually going neck-and-neck were (bidding) due to its duplex potential.”
This story was first published on view.com.au as ‘Neck-and-neck’ battle as Fairy Meadow home goes under the hammer.
