Sydney auctions: Hamptons-inspired ‘masterpiece’ sells for $9.65m amid cooling market

6 Upper Cliff Rd, Northwood sold for $9.65m.

A Hamptons-inspired home on the lower north shore described as a “masterpiece” has sold at a crowded auction for $9.65m.

The 1126sqm property on Upper Cliff Rd in the small suburb of Northwood attracted five registered bidders and a crowd of about 70 onlookers.

Selling agent Simon Harrison of Belle Property-Lane Cove said the result was in line with what he had expected the property to sell for five months ago, when the market was a lot stronger.

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“The vendors were thrilled,” he said. “Like a lot of sellers they were cautious and concerned the market might not have been there at that price … it goes to show that good houses will always sell well.”

Mr Harrison explained that the house was in a coveted, but tightly held, location with water glimpses and views of the Sydney skyline.

“It’s one of those homes that you can walk past and it’s just such a commanding, beautiful house. It’s also the first home in the area to come up for sale for a very long time,” he said.

Bidding opened at $8.25m and most of the auction was a two-horse race between two committed families. The underbidder dropped out of the auction on a bid of $9.6m.

The buyer was understood to be a family relocating from a regional area.

Hamptons-style appears throughout.

Property records showed the sellers bought the property in 2000 and built the current house there in 2012. It had been rented out since 2018 for up to $3000 a week.

Mr Harrison said the buyer market for luxury properties was not as affected by recent rises in interest rates and luxe purchasers were more motivated by “lifestyle”.

“They won’t just pay any (price) but, if they really want it, they will make a move,” he said.

“The people who bought this house just saw it as a family home that hasn’t come up in a while. It had all the attributes, the views. Just a phenomenal house.

The property was described in the listing as a masterpiece.

“These types of properties are few and far between. They may only come along once every 10 or 15 years.”

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