The sale of a pair of Shellharbour flats for more than $300,000 above reserve was among the highlights of the past week's auction activity in the Illawarra.
According to CoreLogic's preliminary figures, of the 30 results collected for the Illawarra so far, there was an auction clearance rate of 86.7 per cent for the week ending October 3.
This follows an auction clearance rate for the Illawarra of 100 per cent for the week ending September 26.
The beachfront listing at 39 Boollwarroo Parade, Shellharbour sold for $2,825,000 under the virtual hammer last Wednesday night.
The property is an original fibro dwelling that consists of a pair of two-bedroom flats, sitting on a level 594 square metre parcel of land.
The reserve price was $2.5 million.
Selling agent, Ben Cohen from Ray White Shellharbour said it sold to a Sydney buyer.
There were 14 registered and four active bidders, the majority of which were from the Illawarra.
Mr Cohen said the auction featured consistent bidding, with two parties fighting it out the majority of the time.
He said the property offered great land value, with the successful buyer only inspecting the home via FaceTime.
The under-bidder was from the Illawarra.
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The home at 10 Ursula Road, Bulli sold bang on reserve for $2.1 million via online auction last Wednesday night.
The three-bedroom, one-bathroom 1950s brick and tile cottage is set on 746 square metres.
Selling agent and auctioneer, Daniel Hastings from MMJ Wollongong said the "modest" home was on a great block of land, and offered redevelopment/rebuild opportunities.
Mr Hastings said there were six active bidders, the majority of which were locals, with an Illawarra buyer who planned to renovate the home winning out.
Mr Hastings said the buyer may explore the potential for a rebuild in the future.
Bidding opened at $1.6 million before stalling at just over $2 million before agents received instructions from the seller, after which the top bidder decided to advance their bid.
20 Tammar Place, Blackbutt also sold at auction for $890,000 last Wednesday night.
The three-bedroom, two-bathroom home is set on 527 square metres.
Selling agent, Alex Cockcroft from Ray White Shellharbour said it sold to a young South Coast couple.
Bidding kicked off at $800,000, and there were six registered bidders.
Mr Cockcroft said the reserve price was met, but not far exceeded.
He said the result was a strong one, especially given the home needed some modernising.
"The home has an enormous workshop downstairs, as the lady who used to live there did pottery," he said.
"I've never seen a home with that much storage."
The home at 11 Crighton Place, Dapto sold at auction for $969,000 last Wednesday.
The five-bedroom, three-bathroom home is set on 691 square metres.
Positioned within a quiet cul-de-sac, the family home is perched upon the crest of the street with an outlook over the escarpment.
Selling agent, Callum Harley from Ianni & Co. Property Wollongong said a Wollongong-based party was the successful buyer.
There were a dozen registered bidders.
After a slow start, he said eventually bidding moved quickly, with a handful of parties lodging larger bids, before a series of $1000 increments at the end.
He said the listing was popular due it being a large home with a great outlook to the escarpment.
"It was a special property that a lot of people wanted," he said.
The home at 23 Trevor Avenue, Lake Heights sold for $695,000 at auction on Saturday.
The two-bedroom, one-bathroom fibro home is set on approximately 588 square metres of land.
Selling agent, Ali Yagmur from Domain Illawarra Real Estate said the property offered the potential for a second dwelling or granny flat (subject to council approval).
Mr Yagmur said the buyer could also renovate or knockdown and build their dream home that will capture lake and ocean views from the second level.
He said there were 13 registered bidders.
He said bidding eventually came down to a two-horse race between Sydney investors.
"It went for more than 10 per cent above reserve," Mr Yagmur said.
"The house needed some structural work, but it's in a great location and offered great potential."
Also sold during the Ray White Shellharbour auction night last Wednesday was the home at 56 Wholahan Avenue, Horsley for $1.27 million.
The five-bedroom, three-bathroom home is set on 575 square metres and located in the Brooks Reach Estate.
Selling agent, Adam McGrath from Ray White Shellharbour said it sold to a local buyer for "well above the reserve", with multiple generations of the same family planning to move into the home.
He said the under-bidder was a Sydney buyer.