A Surry Hills home owned by 19 strangers went to auction on Saturday in what shaped up to be another shaky weekend for Sydney’s property market. The group of 18 women worked under the tutelage of Bern...
A Surry Hills home owned by 19 strangers went to auction on Saturday in what shaped up to be another shaky weekend for Sydney’s property market.
The group of 18 women worked under the tutelage of Bernadette Janson to renovate the two bedroom unit as part of her renovation school that aims to financially empower women through property.
MORE: Derelict Sydney homes fetch millions at auction
![](data:image/svg+xml,%3Csvg%20xmlns="http://www.w3.org/2000/svg"%20viewBox="0%200%201280%20720"%3E%3C/svg%3E)
Some of the collective owners are (L-R) Joyce Ong, Kate Thompson, Sumit Sharma, Melissa Betts, Emma Baird, Carol Brace, Bernadette Janson, Michelle Garrett and Kendall Hayes. Picture: Joyce Ong
Ms Janson said shows like The Block glamorise the reno process but she offers the chance for people to see the realities and has ‘done her job’ even if someone realises it’s not for them.
“Everyone likes the idea of flipping but it is so brutal and unforgiving and so we started doing this so that they could have the real experience of what it was like without risk,” Ms Janson said.
MORE: Brutal: ‘The Block’ effect sending Aussies broke
The unit is newly renovated with an open plan kitchen, dining and living room area.
Ms Janson said that her School of Renovating mostly works with women over 50 because many from her generation are “left out in the cold” when they get to retirement.
“So many women around 50 are struggling to pay off a mortgage, or they look at their super and realise they won’t have enough to live the life they want,” Ms Janson said.
“Renovating changed my life, and I wanted to show other women they could do it too, without being at the mercy of dodgy trades or spruikers,” she said.
MORE: Sydney rents smash Treasury’s forecast
Vendors at the auction with Ms Janson in the centre. Picture: Jeremy Piper
Ms Janson said before the Surry Hills auction kicked off that, “we’re going to be drinking champagne today regardless of what happens.”
Bidding for unit two at 9-19 Nickson Street started off at $1.15m but didn’t initially get past the minimum reserve price needed to make the sale.
The auction had four active bidders and sold during private negotiations for $1.338m to a North Sydney mum whose daughter will live in the unit.
MORE: ‘Appalled’: Truckie wanted after brazen illegal dumping act
The property overlooks a quiet street with a playground.
Ray White data from last weekend revealed that only 52.4 per cent of Sydney auctions sold, down from 71 per cent the same time last year.
Midweek figures from realestate.com.au paint a similar picture and show Sydney had 29 per cent fewer auctions scheduled this week compared to last year.
Sellers agent Con Fotaras from Ray White Taylor Touma said he was overall happy with the result given the current market conditions.
“Auctions have transparency and show where the market is at and today showed there’s a bit of hesitation at the moment,” Mr Fotaras said.
MORE: Woman loses her Aussie land, $20k over one act
95 people inspected the Surry Hills home ahead of Saturday’s auction. Picture: Jeremy Piper
“I had 95 people coming through the property which is more than double any property that we’ve had on the market in the last month but buyers know they could be buying better if they wait,” he said.
Mr Fotaras said the Surry Hills unit attracted a lot of interest because there’s currently so few properties on the market.
MORE: A bargain at $55m, it won’t be long before Akuna hooks a buyer
OTHER AUCTIONS
Inner West
The exterior of 103 Hargrave Street, Paddington.
A neglected Paddington terrace sold for over $3.6m on Saturday.
Listing pictures reveal water stained walls, an unpainted roof with a lone light bulb and a brick courtyard becoming overrun with weeds.
The final sale price is undisclosed but it’s understood that it sold close to the reserve and was over the advertised guide price of $3.6m.
The main bedroom appears mid-repainting with an unfinished ceiling.
The walls in much of the home are either raw concrete, unfinished bricks or typical drywall with peeling paint.
Sellers agent Michael Minogue said most interested buyers were builders or renovators, with the new owner also a builder.
Mr Minogue said the property had “good bones” but “it’s ready for a complete rebuild”.
FULL STORY: Derelict Sydney homes fetch millions at auction
Inner West
Listing pictures of 43 Heydon St in Enfield reveal a run down family home.
A ‘renovator’s dream’ sold in the city’s inner West for $1.91m.
43 Heydon St in Enfield drew a whopping 10 registered bidders and opened the auction at $1.5m.
The kitchen floor is damaged and the walls are coated in grime that’s concentrated above the stove top.
Clarence White with Menck White Auctioneers said the home was priced well, which gave people confidence to engage.
“It was one of the most competitive auctions I’ve seen for months frankly,” Mr White said.
The three-bedroom home last sold in 2023 for $533,000 and was held for three generations.
FULL STORY: Derelict Sydney homes fetch millions at auction
Northwest Sydney
5 Winston Street, Marsfield sold for $2,152,000
A three-bedroom home in Sydney’s northwest sold for $2.152m on Saturday.
Bidding for 5 Winston St in Marsfield started at $1.8m with three active bidders making a total of 27 bids.
The three-bedroom home was sold by Catherine Murphy from The Agency Epping.
Auctioneer Edward Riley from Edward Riley Auctions said it was an encouraging result against the backdrop of a challenging market.
“It’s a timely reminder that genuine buyer demand remains, and when the right property comes to market, competition can still deliver an exceptional outcome,” he said.
Discussion
Sign in to join the discussion.