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Young buyers push Ringwood home to sell $210,000 over reserve

Real estate & property news
29 November 2022
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Sellers of quality family homes earn huge premiums

A battle among six young families and couples for a renovated Ringwood home has resulted in a huge bonus for the sellers.

The four-bedroom 22 Heywood Street (main image above) house fetched a premium price of $1.43 million or $210,000 above the seller’s reserve price.

“We didn’t think it would go so high, and the sellers were so thrilled they had tears of joy,” Barry Plant Ringwood & Heathmont director Louise Carrigg said.

“The bidding sequence took only three and a half minutes and the whole auction was over in 12 minutes.”

Following a strong campaign with high inspection numbers, the November 26 auction attracted young buyers who “wanted to move in and enjoy the house straight away”, Ms Carrigg said.

The auction took off quickly after the first bid that was at the top of the price guide, and the gavel soon fell at $1.43 million.

“The sellers raised a family there over 10 years and had done an excellent renovation and who will now be looking to upsize in the local area,” Ms Carrigg said.

She added the sellers had “a fair reserve of $1.22 million” and demand for quality renovated homes in the suburb helped push up the result.

The well-presented house on 670sq m features a stunning open-plan living and dining zone, kitchen with an island breakfast bench, sheltered alfresco deck, backyard and a spectacular man cave with a fireplace and a bar.

Earlier in the week, the agency also sold another coveted family home at 21 Bennett Avenue, Heathmont (image below), for $1.852 million.

The sellers received five offers on the five-bedroom house on 1321sq m.

“The result was well above expectations and a family will be moving into this large home,” Ms Carrigg said.

Sales records indicated the property was purchased for $190,000 in 2001. The charming house combines elegant period details with luxury modern elements and includes a poolside entertainment zone.

The interiors feature a spectacular arched hallway, formal lounge room with high ceilings, ceiling rose and cornices, Sydney Blue Gum floorboards and a large living and dining domain.

Quality family homes are sought after in Ringwood and Heathmont but are in short supply and often command strong prices and huge premiums at auctions.

Real estate & property news
29 November 2022
Save Article

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