Downsizers from Lindfield battled against a young family from Panania to secure a four-bedroom Killarney Heights home with good feng shui and a level block.
Downsizers from Lindfield battled against a young family from Panania to secure a four-bedroom Killarney Heights home with good feng shui and a level block.
By Kristy Johnson
March 15, 2025 — 12.54pm
Downsizers from Lindfield won the keys to a $2,623,000 Killarney Heights home at auction on Saturday after beating a young family from Panania with a final $1000 bid.
The four-bedroom, two-bathroom property at 2A Ballina Avenue was guided at $2.2 million, and its reserve was set at $2.55 million.
Three of four registered bidders were active. The opening bid was $2 million and the price quickly reached the guide. From $2.6 million, bids were as small as $1000 and the auction became a contest between the downsizers and a young family.
Both parties liked the flat block and the home’s lucky red front door and good feng shui, McGrath Forestville’s Karen Terry said.
The downsizers eventually triumphed over the family after placing a final $1000 bid to edge ahead. “They were devastated to have lost by just a $1000 bid,” Terry said.
The vendor has been living in Hong Kong for the past 23 years and purchased the home for $190,000 in 1986 for his parents to live in. Terry said the home was no longer needed after his parents passed away.
Terry said February’s rate cut has given buyers slightly more confidence.
“The fear for buyers that we work with, and I’m not talking about cashed-up downsizers but rather families, is that if they hold off on purchasing for too long, they might get priced out quickly if the market does start to build momentum.”
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The property was one of 857 scheduled auctions in Sydney on Saturday.
In Dulwich Hill, a three-bedroom, one-bathroom home with no parking sold under the hammer for $2,055,000 to first-home buyers.
The property at 30 Beach Road was guided at $1.7 million, which was also its reserve. There were nine registered bidders and five active; most were first-home buyers.
Bidding started at $1.7 million and the price rose in varying increments. The buyers were a young couple who had been renting in the Inner West and moved back home to North Sydney to save a deposit. They outbid another first-home buyer couple.
BresicWhitney Inner West’s Frederico Fraga-Matos said Dulwich Hill has become a popular choice for first-home buyers because it is next door to Marrickville, a trendy hub for food and culture.
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He said the buyers will move in immediately and put the home through a renovation in the future.
Kristy Johnson – Kristy is a property reporter for The Sydney Morning Herald.
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