House-hunters are embracing virtual property sales

It could be a bumper start to the Spring property market with a lack of supply and strong demand expected to keep prices high during Sydney’s extended lockdown. House hunters

Agents Kate Lumby and Will Hampson from Lumby Hampson said it has been a smooth transition to virtual sales with bidders confidently adapting to new technology.

Untitled 3 House-Hunters Are Embracing Virtual Property SalesAmong their recent successes was 21 Wyoming Rd, Dural, which fetched a record $6.3m – the highest amount ever paid under the hammer in the blue-ribbon suburb. There were 16 registered bidders vying online for the palatial 10-bedroom mansion, set on a 2ha estate with indoor pool and tennis/basketball court.

“In the lockdown we are finding that buyers are just getting on with it and don’t seem at all phased by the online process or if they do need help, they will ask,” Mr Hampson said. “While it is not as fast as a ‘live’ auction’ – some running for an hour – online auctions are just like one you would attend in person.

“It can still be very suspenseful and exciting waiting for the hammer to fall, particularly with such strong competition in the current market.”

More than 130 bids were traded during the recent auction of 58A Annangrove Rd, Kenthurst, which took more than an hour to complete. It sold for $4.158m with two main contenders pushing the final price $685,000 above expectations. House hunters

Delighted vendor, Rene Kemplen, revealed they always planned to sell the acreage in August as it is the month with the lowest number of listings – which meant fewer competing properties. House hunters

Untitled 1 House-Hunters Are Embracing Virtual Property SalesAs it turned out, it was also the time that Sydney was under a tight lockdown due to the COVID19 pandemic.

“It turned out to be quite good because people who would normally be working, such as those in construction, were able to come out to an inspection in keeping with the guidelines,” Ms Kemplen said.

“We were really hoping for a figure up there, but the final price was even higher than what we imagined.”

Lumby Hampson has now achieved 25 residential record sale prices across a number of suburbs in the Hills District. House hunters

Another recent record was 9 Glenhaven Rd, Glenhaven, which sold for an incredible $5.415m back in July. The magnificent 2ha parcel of land with an older style house achieved a massive $915,000 above its expected price.

In February this year, Lumby Hampson sold 1484 Wisemans Ferry Rd, Maroota, for $2.65m – a record price for residential acreage. Also setting a new record this year was 44 Peebles Rd, Fiddletown, which sold for $3.75m.lockdown. House hunters