A Tamarama resident upgrading within the beachside suburb has paid $12.35 million for a four-storey home with sweeping ocean views, securing it at auction on Saturday.

The five-bedroom property at 27 Carlisle Street, located within easy walking distance to the sand, drew a crowd of around 80 onlookers. Three buyers registered to bid, with two competing actively.

Opening at $11.5 million — above the $11.25 million guide — bidding progressed steadily before the home sold under the hammer at its reserve of $12.35 million.

Selling agent Alexander Phillips of PPD said the property appealed for its design and outlook.
“It was a bigger house, better house, better view,” he said, noting the buyer celebrated the result with champagne. The furniture was also offered as part of the deal.

Records show the home last traded for $5.6 million in 2016. The vendors are downsizing locally.

Competitive Bidding Beyond Tamarama

The sale was one of 989 scheduled auctions across Sydney last week. Domain Group reported a preliminary clearance rate of 72.3 per cent from 607 results by Saturday evening, with 110 auctions withdrawn — counted as unsold in the clearance calculation.

In Bondi Junction, a two-bedroom art deco apartment at 2/46 Allens Parade sold for $1.99 million, or $240,000 above reserve. Five bidders registered, with three competing. Bidding began above its $1.6 million guide and climbed in increments of $20,000 and $10,000 until the final price was reached.

Belle Property agent Edward Brown said the unit’s rarity helped drive demand.
“Art deco apartments are in strong demand, particularly because there aren’t many compared to newer high-rise units in the area,” he said.

Vendors were three siblings who had owned the property since 2010, when it sold for $852,000. The buyer is a downsizer from Randwick.

Investors and First-Home Buyers Compete in Artarmon

In Artarmon, an investor prevailed over a group of first-home buyers, securing a two-bedroom apartment at 2/3 Robert Street with a single final bid.

Guided at $1 million, the property opened at $980,000 and climbed past its $1.025 million reserve in $10,000 steps. A last bid of $1.135 million sealed the deal.

BresicWhitney’s Stephen O’Sullivan said the location and size were key attractions.
“It was very roomy and very liveable, close to the station and amenities,” he said.

He added that government incentives were driving activity among younger buyers at this price point.

The vendor was from St Georges Basin, while the successful buyer came from Frenchs Forest.

Outlook: Listings Still Tight, Demand Strong

LJ Hooker head of research Mathew Tiller said the clearance rate of 72.3 per cent reflected solid demand across price brackets.

“There’s strong competition from buyers right across Sydney, from entry-level homes through to prestige properties,” he said.
“A lack of listings is fuelling competition. Some vendors are delaying, while others are leveraging the auction process for strong results. We expect more listings as spring progresses, but demand isn’t going anywhere.”