A property at Elermore Vale constructed in 2020 that is still under new house warranty sold under its reserve at auction on Saturday.
The house at 123 Dangerfield Drive attracted around 30 groups throughout the campaign and was sold for $1,160,000 with two registered bidders in attendance.
Selling agent David Caldwell of Your Agency said numbers were down at auctions however, there was still demand for "turn-key" properties.
"I'm finding at the moment that we're still getting one, two or three bidders to auction," Mr Caldwell said.
"Although bidder numbers are down, properties that are renovated or close to new are still selling well.
"Things are still selling but there's obviously less buyers than what we had in the marketplace 12 months ago."
The property was last sold in June 2021 for $1,005,000, according to CoreLogic.
According to CoreLogic's preliminary results, this property was among 20 auctions that took place in Newcastle and Lake Macquarie in the week ending March 19, during which time there was a clearance rate of 85 per cent.
We spoke with David Caldwell about the auction and the result at 123 Dangerfield Drive, Elermore Vale:
The property: A four-bedroom, three-bathroom double-storey house on an elevated 662 square metre block. The house was constructed by Clarendon Homes in 2020 and included multiple living zones, an open-plan family and dining room, and a kitchen with a walk-in pantry and stainless steel appliances. The master bedroom included a walk-in robe and ensuite.
The result: We sold that one under the hammer for $1,160,000.
How many registered bidders? We had two registered bidders. One was from Raymond Terrace and the other one was from Kotara, so all local buyers.
What was the reserve price? $1.2 million.
How did the auction unfold? After the opening bid of $1 million, we just jumped straight to a vendor because we still had a fair way to go. Gavin put a vendor bid in at $1,150,000 and then we only got $10,000 above that. Basically, we went straight to near enough to their reserve and then one bidder said 'Nope, too much for me. I'm not going to go any further'. The other bidder had a good lengthy discussion and went $10,000 above. We went back and forth and the vendor came down a fraction and put the sale together.
What made this property special? We sold this one to the owners only about 18 months ago, so it's actually still under new home warranty so it's only about three years old. It's positioned in a great spot with great views and it being relatively new was obviously attractive to a lot of people.
Was the result a surprise? No, because we had an auction two weeks ago in Atherton Close in Rankin Park that sold for $1,150,000 which is a record sale for a three-bedroom home in that suburb. Again, we had three registered bidders there and that one went really well. That pocket of Elermore Vale and Rankin Park is very popular with young families that are looking for a decent-sized home.
