Opportunity knocks for buyers

106/12 Macleay Street Potts Point, exterior. 106/12 Macleay Street, Potts Point, interior.

10/99 Marriott Street, Redfern.

7 Brisbane Street, Bondi Junction, is now listed for sale at $1.25 million.

3/45 Birriga Road, Bellevue Hill.

The full list of results from Monday night’s Cooley auctions

The advertisement billed it as a unique opportunity in the tightly held inner-city block the Macleay Regis, but at Monday night’s auctions no-one put their hand up.

The apartment at 106/12 Macleay Street, Potts Point, is just one of the properties left on the shelf in the lead up to Easter.

This and many others could be good buying opportunities, coming after the biggest auction day Sydney’s ever seen when 1100 properties were scheduled on Saturday.

Auctioneer Damien Cooley, who presided over Monday’s event at the Double Bay Auction Centre in which just half of the 30 properties sold – nine of those prior – reckons buyers are in the box seat to negotiate a deal before Easter.

‘‘Absolutely, no question,’’ Mr Cooley said.

‘‘There are a lot of vendors who want to sell.’’

Despite a solid 78.1 per cent clearance rate for Saturday, some agents and analysts were wondering whether Monday’s 50 per cent result might have signalled a turn in the market.

Yet Mr Cooley doesn’t think so.

‘‘I think last night was, just to be frank, the type of property we were selling,’’ he said. Most of it was in the upper price range.

Even the agent for the company-title Macleay Regis apartment, Harold Wolf of Belle Property Potts Point, had a logical explanation for the two-bedroom apartment passing in on a vendor bid of $1.35 million.

The reserve was $1.58 million.

‘‘I think the vendor expected a bit too much,’’ Mr Wolf said.

‘‘It was obvious during the campaign that people thought it was in a price range that most people thought was a bit over the top.’’

Australian Property Monitors data shows the vendor had previously tried to sell the apartment in 2011 for $1.85 million and then again last year for $1.65 million.

Mr Wolf said there was one interested candidate who turned up to the auction but didn’t bid. ‘‘They have made an offer which I now need to discuss with the vendor,’’ he said.

Other properties looking for buyers after Monday night included a renovated 115 sqm courtyard apartment with private entrance and north-easterly aspect at 3/45 Birriga Road, Bellevue Hill. That was passed in on a vendor bid for $950,000 through LJ Levi Real Estate.

Its advertisement now shows it as a ‘‘forthcoming auction’’.

A two-bedroom semi at 7 Brisbane Street, Bondi Junction, was also passed in on a vendor bid of $1.1 million. It’s now listed for sale at $1.25 million.

Ray White Bondi Junction/Coogee agent Sam Capra said a couple of people registered to bid but didn’t show their hand.

‘‘I was slightly surprised it didn’t sell,’’ Mr Capra said.

‘‘The last six weeks have been unbelievably busy and it doesn’t help that we’re very close to Easter.

‘‘Last night was also Passover for the Jewish people, so a lot of those people weren’t there and a lot have already gone on holidays.’’

He also isn’t seeing the result as an ominous sign.

‘‘It was just a bit of a flat night, it hasn’t been the tradition.

‘‘Probably within the week we will have it sold.

‘‘We had auctions the week before – in my office we had seven and we sold all seven.

‘‘We have auctions tomorrow night at Crown Plaza at Coogee and I think most of those will go reasonably well.’’

There are also opportunities for buyers in the wash-up from Saturday’s huge auction day, with many vendors who failed to find a buyer now prepared to talk turkey ahead of Easter.

In inner-city Redfern, which was the suburb with most auctions at 17, not all properties found a buyer. Bresic Whitney co-director Ivan Bresic said his vendors at sought-after block The Printery at 10/99 Marriott Street had dropped their price from $1,125,000 to $1,095,000 on Tuesday. It was passed in on a vendor bid of $1.05 million on Saturday.

Both bedrooms open to terraces and both bathrooms and the kitchen have been recently renovated. The pet-friendly apartment also has a courtyard and a garage.

It looks to be good value considering a smaller, less renovated apartment with just one balcony at 13/83 Marriott Street sold for $999,000 just 10 days ago.

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