Properties in Austinmer and Bomaderry with future development upside are among the listings set to go under the hammer this weekend as more agents return to in-person auctions in the Illawarra.
A three-bedroom Austinmer home straddling two separate-titled blocks at 20-22 Asquith Street, Austinmer will be auctioned tomorrow after receiving 150 enquries and more than 60 inspections, agent Justin Sydenham of ray White Thirroul said.
He described the property, which has filtered ocean views, as a "cool character 50s home".
Many of the interested parties would likely choose to demolish the existing house and either build on both blocks or build their dream home on one and sell the other, Mr Sydenham said.
"If it was knocked down you would have two independent vacant blocks of land," he said, adding that securing vacant land in Austinmer was a rare occurrence.
Alternatively, a buyer wanting to retain the existing residence could attempt to subdivide the property and realign the block's boundary, subject to council approval.
It will be the agency's first in-person auction since the easing of COVID-19 restrictions, Mr Sydenham said.
Online interest had been a 50/50 split between local and Sydney-based buyers, though he expected bidding activity on auction day to mostly come from buyers based in Austinmer and surrounds.
"Because of its Austinmer address and its unique nature, we've actually had more interest from locals than I've expected to have, they're wanting to swap what they have with this," he said.
The property was marketed with a price guide of $1.5 million-plus.
In Bomaderry, a three-bedroom house on a 1380 square metre block is slated for auction following a sales campaign by Karl Poulton of Professionals Nowra.
Located at 451 Princes Highway, the property has been marketed as an ideal redevelopment opportunity.
"Someone would be able to subdivide the block or build a couple of villas, subject to council approval," Mr Poulton said.
"It's a nice big block of about 1300 square metres and it is a residential zoning," he added.
Alternatively, the existing house, which was owner-occupied until recently and presented in "very basic" condition, could be renovated.
Mr Poulton declined to provide a price guide.
The permitting of in-person inspections for all prospective buyers under the relaxed COVID-19 rules had made a huge difference to the sale campaign, Mr Poulton said.
"People have had to get a real feel of how the block falls, where it is and the condition of the house," he said.
Mr Poulton said the auction would be the first to be held by the agency onsite since the easing of restrictions.
"It will be pretty cool to have them [bidders] onsite," he said.
There had been around 30 inspections of the property during the campaign.