After seemingly experiencing a slower start to the spring selling season, the Illawarra region kicked into gear during the past week, recording strong auction results.
Although one high-end property was passed in, a Warilla home recorded a gain of $380,000 in 15 months.
According to CoreLogic's preliminary figures, of the 32 results collected for the Illawarra so far, there was an auction clearance rate of 93.8 per cent for the week ending September 19.
By comparison, of the 23 results collected for the Illawarra, there was an auction clearance rate of 82.6 per cent for the week ending September 12.
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Also, of the 11 results collected for the Illawarra, there was an auction clearance rate of 63.6 per cent for the week ending September 5.
Ray White Shellharbour City hosted an auction night last Wednesday.
They had 13 properties scheduled to go to auction.
Two of these sold prior; 50 The Boulevarde, Oak Flats for $1,170,000; and 14 Bluebell Road, Barrack Heights for $820,000.
Another two properties were passed in, with one of them selling the next day.
Properties sold on the night included 8 Joan Avenue, Warilla for $1 million; 15 Morgan Avenue, Mount Warrigal for $745,000; 155 Industrial Road, Oak Flats for $1,435,000; 171 Pur Pur Avenue, Lake Illawarra for $851,000; 39/20-26 Addison Street, Shellharbour for $705,000; 27 Elizabeth Circuit, Flinders for $1,260,000; and 22 Southern Cross Boulevard, Shell Cove for $1,595,500.
Adam McGrath from Ray White Shellharbour City said all the properties that sold at auction did so above the reserve price.
The home at 8 Joan Avenue, Warilla is set on a 651 square metre block, and features two bedrooms with a third studio room.
According to CoreLogic, the home previously sold in June 2020 for $620,000.
Mr McGrath said the sellers hadn't done much work on the home since that time, with the $380,000 gain largely attributable to the burgeoning popularity of the suburb.
He said the growth in the eastern side of Warilla during the past 12 to 18 months had been "phenomenal".
Mr McGrath said this latest sale was a strong result for a non-waterfront, standard home in Warilla. It sold to an Illawarra buyer.
The opening bid was $910,000, and there were 11 registered bidders.
There were nine bids placed in total, with much of the competition between two buyers.
Also, Mr McGrath said 15 Morgan Avenue, Mount Warrigal featured some "really aggressive bidding".
The recently renovated three-bedroom, one-bathroom home is set on 556 square metres. It was sold to an Illawarra buyer.
The opening bid was $620,000. There were ten registered bidders and a reserve price of $650,000.
"A $700,000-plus result in that area is just incredible," he said.
"A couple of people went hammer and tong for it from $700,000 onwards."
However, the home at 6A Wilford Street, Corrimal was passed in on Saturday.
Neil Webster from Stone Real Estate Illawarra said the home passed in at $2.1 million.
Mr Webster said there was interest in the property from both local and Sydney buyers, including some who weren't in a position to bid on the weekend.
Mr Webster said he expected it to sell post-auction, given the level of interest.
The five-bedroom plus study, and three bathroom-home had a price guide of $2,030,000.
"It's basically a Sandon Point/Bulli Beach-style home, just situated on the Corrimal escarpment instead," Mr Webster said. "It's a beautiful home, custom-built.
"The owner hasn't spared a cent on it - everything has been done to such a high standard."
Meanwhile, the home at 148 Farmborough Road, Farmborough Heights sold at auction for $1,017,000 on Saturday.
Set on a 1655sqm near rectangular parcel of land, the home contains three bedrooms and one bathroom.
Selling agent, David Greenwood from McGrath Wollongong said there were eight registered bidders, with a price guide of about $950,000.
After an opening bid of $850,000, it went backwards and forwards between two parties, before selling to an Illawarra developer fractionally above the reserve price.
"It has some development potential," Mr Greenwood said.
"It has some challenges with easements and the fall of the block, but the majority of people looking at it wanted to do subdivisions and those types of things. There's a lot of buyer demand out there for blocks like that, that have those options.
"Previously, any block that would have a challenge to it with regards to a development opportunity, a lot of developers would stay away from it.
"But in this market, where there's so little land available... We're seeing a lot more competition with those blocks that have development potential, but that still have challenges."
Also, a beachside apartment in the Illawarra's northern suburbs has proven popular at auction.
The property at 1&2/45 The Esplanade, Thirroul sold for $2.26 million at online auction on Saturday.
It sold for $460,000 above reserve.
Featuring four bedrooms and two bathrooms, it was originally two separate apartments, but were combined to offer 137 square metres of internal space with two balconies.
It's located across the road from the beach.
The selling agent was McGrath Thirroul's Adam Blackmore, who said the buyers are a couple from Croydon in Sydney, who bought it as an investment.