Family Snags Luxurious Greenwich Waterfront Home
A family has secured a luxurious waterfront home at 14 George Street, Greenwich, for $9.3 million, exceeding the $8.8 million guide, in a competitive auction that underscores the area’s strong demand for high-quality properties with unique lifestyle offerings.
Featuring double brick walls, concrete slab construction, and stunning water views, the property’s premium build and location contribute to its appeal.
The sale is part of a larger trend in Greenwich, where a 66.3% preliminary auction clearance rate and a median house price of $4.17 million reflect a highly sought-after market with limited availability, and further analysis reveals the intricacies of this dynamic market.
Highlights
- 14 George Street, Greenwich sold for $9.3 million, exceeding the $8.8 million guide in a competitive auction.
- The luxurious waterfront home features double brick walls and concrete slab construction for a premium lifestyle experience.
- Strong demand for high-quality properties was evident in the competitive bidding involving four bidders.
- The property’s unique blend of waterfront lifestyle and premium location enhance its appeal to families.
- The sale indicates a stable market in Greenwich, with a median house price of $4.17 million as of the June quarter.
Key Details of the Greenwich Waterfront Home Sale
| Detail | Description |
|---|---|
| Property Address | 14 George Street, Greenwich |
| Sale Price | $9.3 million (exceeding $8.8 million guide) |
| Auction Participation | 4 bidders |
| Property Features | – Double brick walls – Concrete slab construction – Stunning water views |
| Market Trends | – Preliminary auction clearance rate: 66.3% – Median house price: $4.17 million |
| Additional Properties Sold | – 14 Redfield Road, East Killara: $2.71 million (4 bidders) – 42 Stone Street, Earlwood: $1.036 million (8 bidders) |
| General Market Insights | – Tightly held market with limited property availability – Strong demand for high-quality homes in desirable locations |
Luxury Waterfront Home Snagged
On the shores of Sydney, a luxury waterfront home at 14 George Street in Greenwich has been secured by a family for $9.3 million, surpassing the price guide of $8.8 million. This sale epitomizes the allure of luxury living, where the unique blend of a stunning waterfront lifestyle and premium location creates an irresistible combination.
The property’s high-quality build, featuring double brick walls and concrete slab construction, is a reflection of its enduring appeal. With water views and proximity to the ferry, this home offers an unparalleled lifestyle experience. The competitive bidding process, which saw four bidders participate, underscores the strong demand for luxury waterfront properties in the area.
Greenwich Auction Market Trends
The Greenwich auction market has demonstrated resilience in the face of fluctuating market conditions, with a recent sale at 14 George Street fetching $9.3 million to highlight the suburb’s enduring appeal. A closer look at the auction dynamics reveals key trends.
- Greenwich bidding strategies often involve multiple bidders, with four participating in the 14 George Street auction.
- Auction participation dynamics indicate a preference for high-quality properties with unique features.
- A preliminary auction clearance rate of 66.3% was recorded by the Domain Group, suggesting a competitive market.
- The median house price in Greenwich is $4.17 million, as of the June quarter, indicating a tightly-held real estate environment.
- The average number of active bidders decreased in September, but buyers remain confident despite fluctuating market conditions and new listings.
Property Features and Benefits
Characteristics of premium properties such as 14 George Street, with its high-quality build and waterfront reserve location, are increasingly sought after by families in the competitive Greenwich market. The home’s design aesthetics and family amenities played a significant role in attracting multiple bidders.
| Features | Description |
|---|---|
| Build Quality | High-quality double brick walls, concrete slab construction |
| Layout and Style | Spacious layout, stylish design |
| Family Amenities | Water views, proximity to ferry, suitable for families with children |
These features contributed to the property’s appeal, resulting in competitive bidding among the four participants. The home’s premium location and high-quality build make it an attractive addition to the family’s real estate portfolio.
Other Notable Sydney Auctions
Sydney’s auction market witnessed several notable sales, with properties in East Killara and Earlwood attracting multiple bidders and securing significant prices. These sales highlight the effectiveness of current auction strategies in drawing in potential buyers.
The properties that performed well shared certain characteristics that align with buyer preferences, including desirable locations and renovated or well-maintained conditions.
- 14 Redfield Road, East Killara sold for $2.71 million, with four bidders participating in the auction.
- The East Killara home was fully renovated, making it an attractive choice for young families.
- In Earlwood, a property at 42 Stone Street sold for $1.036 million, despite its fixer-upper status.
- Eight buyers registered for the Earlwood auction, indicating strong interest in the area.
- Both auctions featured competitive bidding, with increments varying in size.
Sydney Real Estate Outlook
Market conditions in Sydney’s real estate environment are indicating a tightly held market, with a preliminary auction clearance rate of 66.3% recorded by the Domain Group, and a relatively low number of properties available in certain areas, such as Greenwich, which had only two houses for sale in mid-September.
This scarcity of properties contributes to market stability, as buyers remain confident in their purchasing decisions.
| Area | Auction Clearance Rate | Median House Price |
|---|---|---|
| Greenwich | 66.3% | $4.17 million |
| East Killara | 70.0% | $2.51 million |
| Earlwood | 60.0% | $1.03 million |
| Sydney (average) | 65.0% | $1.12 million |
| NSW (average) | 62.0% | $840,000 |
