As the autumn market holds supply steady, first home buyers proved on Saturday that this is their season, and they’re playing for keeps. Showing up to inspect the one- and two-bedroom properties in droves, it was purchasers looking to get their first foot in the door of the Sydney property market that saturated the auction at 4/374-376 Livingstone Road, Marrickville.
11 registered bidders competed for the keys to this 1970’s two-bedder, set on the second floor of a boutique blonde-brick block of just 15 in the fiercely popular Inner West suburb of Marrickville. Generous in size with 122 square metres on title and the attractive benefit of garage parking, the intense interest generated over the course of the auction campaign was no surprise to selling agent George Milionis.
“We had more than 100 prospective buyers inspect the property over the four-week campaign,” remarked Mr Milionis, who attributes its popularity to a spacious floorplan, city views and the ever-growing desirability of Marrickville.
Dozens and dozens of onlookers braved the weather to attend the auction, conducted by Adrian William’s exclusive auctioneer Brad Heffernan and led by Mr Milionis with the support of his colleagues. The registered parties were almost exclusively first-home-buyers, and after breezing past the reserve, a keen owner-occupier won the auction with a handsome $1,161,000 bid, just $1000 higher than the underbidder.
This astonishing result represents an astounding reset in the Marrickville market, where a new precedent for traditional 60s/70s blocks has been set. Surpassing the last sale in the block, which was merely weeks ago, by $200,000 in price, Mr Milionis’ expert marketing strategy and access to the largest database of buyers in the region allowed him to set a new block record with this two-bedder, which achieved $121,000 more than the previous record set by a three-bedder back in 2022.
With sentiment high following the Reserve Bank’s February decision to cut interest rates, and the optimism of young buyers boosted by an increase in borrowing capacity, we expect to see more and more competition across coveted suburbs like Marrickville, and have strong relationships with buyers looking to purchase a property just like yours. If you’re considering selling, now is the time.
Reach out to George Milionis by submitting an enquiry on this page here, or get in touch at 0404 084 575.