The rush to buy property in Charlestown East showed no signs of abating on Saturday morning when a modest three bedroom cladded home at 38 James Street sold $12,000 above the reserve price for $672,000.
Around 30 people gathered at the front of the leafy home next to a large vacant block to participate in the auction being conducted by Luke Jones (Gavan Reynolds Auctioneers), representing Green Street Property Sales of Newcastle.
Mr Jones described the home as being a piece of property of high calibre and quality. “It is conveniently located next to everything that matters; school, public transport and Charlestown Square.
“The property has a beautiful frontage with off street parking, and the recent renovations are a credit to their owners, with a living area that flows through the home and out to the wonderful backyard.”
Richard Evans, Principal Buyers Agent of Fortune Property Finder, kicked off the bidding at $600,000 before a young couple offered a further $5,000, which was not accepted because Mr Jones was seeking bids of at least $20,000.
Bidding went from $620,000 to $640,000 and in increments of $10,000 to $670,00 before stalling with Mr Evans as the highest bidder. A further bid of $671,000 came from a new player out the front under a tree before the property was knocked down to Mr Evans at $672,000 on behalf of Mr John O’Brien of Newcastle.
Mr Dan Hawkins of Green Street said everyone was more than happy with the result of the sale of a property which had been immaculately presented for auction.