A dilapidated two bedroom terrace in Paddington has sold under the hammer at auction for a massive price under heated competition with 16 registered bidders in attendance.
Multi award winning real estate auctioneer Clarence White of Menck White Auctioneers called the real estate auction on behalf of Catherine Dixon and the Phillips Pantzer Donnelley real estate team in 2023.
38 William St, Paddington is a prime position in the heart of the trendiest part of Paddington, however the house itself was in unliveable condition. It did feature a decent sized block with rear lane access creating the potential to add parking. So potential was in abundance on this particular property.
Clearance rates at auctions in Sydney have been hovering in the low 70s throughout the Spring selling season. While high interest rates and high holding costs have driven most of the investors out of the market, owner occupier buyers are still driving strong competition on quality homes.