Latest news with #CastleHill
Daily Telegraph
2 days ago
- Business
- Daily Telegraph
Sydney home sells for $550,000 over reserve as clearance rates hold strong
Homeowners are being rewarded for scheduling auctions in the heart of winter as buyers compete for a dwindling supply of available properties. A Hills Shire home attracted what could have been the wildest result of the weekend, selling for $550,000 over its reserve price on Saturday. Auctioneer Stu Benson said about 200 people turned up to the auction at 21 Westminster Drive in Castle Hill, with a total of seven bidders placing 100 bids. Mr Benson said it was a hotly contested auction that went for 25 minutes. MORE: Meet the 4yo Aussie homeowner with a $1m portfolio 'It was remarkable,' he said. 'There were people across the road, down the road –– it felt like somebody was having a festival. 'It's got a lot of us thinking about if it's an indication of the market picking up.' Mr Benson said the four-bedroom home attracted so many buyers thanks to its 'blue chip' location, close to shopping and public transport in a growing area. The final sales price was $3.45 million, over $1 million more than the Castle Hill median house sale price. MORE: Bargain homes list exposes brutal Sydney truth He also said it was a 'wonderful result' for the vendor, a widow who built the family home almost forty years ago. The sale comes during an intriguing week for auctions in Sydney, with preliminary indicators showing about three quarters of scheduled auctions delivered a sales result. This clearance rate was about 10 per cent higher than over the same week last year. Auctioneers reported seeing a steady increase in buyer turnouts and confidence as we head into Spring. MORE: Hidden trend replacing NSW's churches 'This is my fourth straight week with a clearance rate of 75 per cent here in the Hills Shire,' Mr Benson said. 'There certainly seems to be an air of confidence (in property) in the marketplace.' Also in the northwest, a Kellyville home sold for $2,600,500 this weekend –– a price $100,500 over the reserve. Auctioneer Michael Garofolo said their were 12 registered bidders with an eventual 72 bids on the day. Closer to the CBD, a local couple snapped up an apartment in their dream location for their kids at auction on Saturday. The auction at 3/276 Bridge Road, Forest Lodge saw four registered bidders, with all four being active. Buyer Sally Fryer told Ray White she and her husband wanted to secure something in the inner west area for their sons to help them get on the property ladder. 'We really wanted to purchase somewhere for the boys to live, which could also be a bolt hole for us in the inner west,' she said. Bidding opened at $975,000, with the hammer coming down on a winning bid of $1.088 million. Ray White Surry Hills agent Matt Carvalho said the property was an 1880s terrace which had been converted into apartments. He added that auction activity has begun to uptick through the winter in the inner west. 'Through winter the number of bidders has improved,' he said. 'Around Easter we were averaging about two to three bidders on most things but now we're averaging three to five. 'Most properties are meeting the reserves or surpassing them. 'I think there's still some uncertainty in the market, so I think people are enjoying the transparency and social proof of an auction.' Across Sydney overall, Ray White NSW and ACT head of auctions David McMahon said their bidder numbers were down marginally on the week prior. 'We averaged 3.4 registered and 2.6 active bidders this week, which is down from 5.3 and 3.3 last week,' he said. 'This shift in buyer behaviour is one to monitor and is perhaps a delayed response from the recent RBA decision to hold the cash rate at 3.85 per cent.' According to Scerri Auctions director Chris Scerri, auction sales are set to 'increase significantly' come Spring, with the prospect of future rate cuts adding to buyer confidence, auction turnouts and bids. 'As soon as there's talk of an interest-rate cut, (loan) applications and reapplications increase,' he said. 'That just gives more confidence which means increased buyer numbers.' 'At the moment our average buyer number is about 3.5 per auction, and then of those buyers about 50-60 per cent are actually bidding.'
News.com.au
2 days ago
- Business
- News.com.au
Sydney home sells for $550,000 over reserve as clearance rates hold strong
Homeowners are being rewarded for scheduling auctions in the heart of winter as buyers compete for a dwindling supply of available properties. A Hills Shire home attracted what could have been the wildest result of the weekend, selling for $550,000 over its reserve price on Saturday. Auctioneer Stu Benson said about 200 people turned up to the auction at 21 Westminster Drive in Castle Hill, with a total of seven bidders placing 100 bids. Mr Benson said it was a hotly contested auction that went for 25 minutes. 'It was remarkable,' he said. 'There were people across the road, down the road –– it felt like somebody was having a festival. 'It's got a lot of us thinking about if it's an indication of the market picking up.' Mr Benson said the four-bedroom home attracted so many buyers thanks to its 'blue chip' location, close to shopping and public transport in a growing area. The final sales price was $3.45 million, over $1 million more than the Castle Hill median house sale price. He also said it was a 'wonderful result' for the vendor, a widow who built the family home almost forty years ago. The sale comes during an intriguing week for auctions in Sydney, with preliminary indicators showing about three quarters of scheduled auctions delivered a sales result. This clearance rate was about 10 per cent higher than over the same week last year. Auctioneers reported seeing a steady increase in buyer turnouts and confidence as we head into Spring. 'This is my fourth straight week with a clearance rate of 75 per cent here in the Hills Shire,' Mr Benson said. 'There certainly seems to be an air of confidence (in property) in the marketplace.' Also in the northwest, a Kellyville home sold for $2,600,500 this weekend –– a price $100,500 over the reserve. Auctioneer Michael Garofolo said their were 12 registered bidders with an eventual 72 bids on the day. Closer to the CBD, a local couple snapped up an apartment in their dream location for their kids at auction on Saturday. The auction at 3/276 Bridge Road, Forest Lodge saw four registered bidders, with all four being active. Buyer Sally Fryer told Ray White she and her husband wanted to secure something in the inner west area for their sons to help them get on the property ladder. 'We really wanted to purchase somewhere for the boys to live, which could also be a bolt hole for us in the inner west,' she said. Bidding opened at $975,000, with the hammer coming down on a winning bid of $1.088 million. Ray White Surry Hills agent Matt Carvalho said the property was an 1880s terrace which had been converted into apartments. He added that auction activity has begun to uptick through the winter in the inner west. 'Through winter the number of bidders has improved,' he said. 'Around Easter we were averaging about two to three bidders on most things but now we're averaging three to five. 'Most properties are meeting the reserves or surpassing them. 'I think there's still some uncertainty in the market, so I think people are enjoying the transparency and social proof of an auction.' Across Sydney overall, Ray White NSW and ACT head of auctions David McMahon said their bidder numbers were down marginally on the week prior. 'We averaged 3.4 registered and 2.6 active bidders this week, which is down from 5.3 and 3.3 last week,' he said. 'This shift in buyer behaviour is one to monitor and is perhaps a delayed response from the recent RBA decision to hold the cash rate at 3.85 per cent.' According to Scerri Auctions director Chris Scerri, auction sales are set to 'increase significantly' come Spring, with the prospect of future rate cuts adding to buyer confidence, auction turnouts and bids. 'As soon as there's talk of an interest-rate cut, (loan) applications and reapplications increase,' he said. 'That just gives more confidence which means increased buyer numbers.' 'At the moment our average buyer number is about 3.5 per auction, and then of those buyers about 50-60 per cent are actually bidding.'
News.com.au
7 days ago
- Business
- News.com.au
Fugitive daughter Ashlyn Nassif seeks to have $150m fraud case thrown out of court
The glamorous daughter of a controversial property developer is hoping to get fraud charges relating to an alleged $150 million loan to help her father build one of Sydney's biggest apartment towers thrown out of court. Ashlyn Nassif, 30, is alleged to have falsified documents to meet a $10.5m pre-sale condition for three towers of the Skyview apartments complex in Castle Hill in Sydney's northwest. Her father Jean Nassif is believed to be on the run in Lebanon and while police have not charged him, officers have issued a warrant for his arrest. Ms Nassif did not appear in Burwood Local Court on Wednesday where her matter was briefly mentioned. The prosecution told Magistrate Robyn Denes they were seeking further time to consider a proposal by the defence, which was not opposed. NewsWire understands a 'no bill' application has been put forward by Ms Nassif's solicitor Warwick Korn, which the DPP is considering. A no bill application, or a no further proceedings application, is a request before the NSW Local Court to discontinue a criminal case, usually due to claims of insufficient evidence. In an earlier two-day hearing in April, Ms Nassif attended Burwood Local Court and cried as her solicitors told the court her fugitive father had 'left his daughter to fend for herself'. In the hearing before Burwood Local Court, a sacked Westpac employee who worked with Mr Nassif gave evidence. Graham Smith, a former relationship manager at Westpac who had worked with and maintained a professional relationship with Mr Nassif since 2009, was questioned at length about three 'private commercial dealings' with the fugitive. The court was told Mr Smith was allegedly paid a total of $150,000 for 'consultancy work' as well as an overseas holiday to the US along with his family. These dealings were not disclosed to his former employer Westpac, which Mr Smith conceded he 'knew was a conflict of interest'. Mr Smith told the court he had been 'generally' honest with his former employer during an internal investigation before he was sacked. Lawyers for Ms Nassif told NewsWire outside court after the hearing that the case had 'changed significantly', prompting the no bill application. Ms Nassif was first charged in February 2023 with dishonestly obtaining a financial advantage by deception and publishing false or misleading material and remains on conditional bail. She is yet to enter any pleas. Police allege Ms Nassif submitted fake contracts to Westpac over three months in 2021 to obtain a $150m loan to fund about 900 apartments. The $900m apartment tower complex was built by Mr Nassif's development company Toplace, which spectacularly collapsed late in 2023. The matter will return to court in September.
Yahoo
7 days ago
- Business
- Yahoo
Twist in fugitive daughter's $150m fraud case
The glamorous daughter of a controversial property developer is hoping to get fraud charges relating to an alleged $150 million loan to help her father build one of Sydney's biggest apartment towers thrown out of court. Ashlyn Nassif, 30, is alleged to have falsified documents to meet a $10.5m pre-sale condition for three towers of the Skyview apartments complex in Castle Hill in Sydney's northwest. Her father Jean Nassif is believed to be on the run in Lebanon and while police have not charged him, officers have issued a warrant for his arrest. Ms Nassif did not appear in Burwood Local Court on Wednesday where her matter was briefly mentioned. The prosecution told Magistrate Robyn Denes they were seeking further time to consider a proposal by the defence, which was not opposed. NewsWire understands a 'no bill' application has been put forward by Ms Nassif's solicitor Warwick Korn, which the DPP is considering. A no bill application, or a no further proceedings application, is a request before the NSW Local Court to discontinue a criminal case, usually due to claims of insufficient evidence. In an earlier two-day hearing in April, Ms Nassif attended Burwood Local Court and cried as her solicitors told the court her fugitive father had 'left his daughter to fend for herself'. In the hearing before Burwood Local Court, a sacked Westpac employee who worked with Mr Nassif gave evidence. Graham Smith, a former relationship manager at Westpac who had worked with and maintained a professional relationship with Mr Nassif since 2009, was questioned at length about three 'private commercial dealings' with the fugitive. The court was told Mr Smith was allegedly paid a total of $150,000 for 'consultancy work' as well as an overseas holiday to the US along with his family. These dealings were not disclosed to his former employer Westpac, which Mr Smith conceded he 'knew was a conflict of interest'. Mr Smith told the court he had been 'generally' honest with his former employer during an internal investigation before he was sacked. Lawyers for Ms Nassif told NewsWire outside court after the hearing that the case had 'changed significantly', prompting the no bill application. Ms Nassif was first charged in February 2023 with dishonestly obtaining a financial advantage by deception and publishing false or misleading material and remains on conditional bail. She is yet to enter any pleas. Police allege Ms Nassif submitted fake contracts to Westpac over three months in 2021 to obtain a $150m loan to fund about 900 apartments. The $900m apartment tower complex was built by Mr Nassif's development company Toplace, which spectacularly collapsed late in 2023. The matter will return to court in September.
Yahoo
14-07-2025
- Yahoo
Childcare group faces second fire in four days
A childcare centre operator is dealing with a second suspicious fire in less than a week. An automatic alarm alerted authorities to a blaze at Play to Learn Early Learning Centre's Castle Hill centre in Sydney's northwest early on Monday morning. It followed a fire at Play to Learn's Turramurra facility on Friday the childcare operators labelled a suspected arson attack. Minimal damage was recorded in both fires, with an automatic system protecting the Castle Hill facility when firefighters arrived at 1.30 am on Monday. "Firefighters arrived to find a childcare centre which had an installed fire sprinkler system activated," Fire and Rescue NSW Acting Superintendent Mathew Sigmund said. "(We) gained entry to the building and located what had previously been a fire, which had been extinguished by the installed fire sprinkler system." Firefighters ventilated the building before handing the scene to police. There were no injuries in either fire while in Friday's incident, the centre sustained fire damage to its foyer and outside, along with smoke damage throughout. Operators of the childcare centre said a CCTV system captured the incident and they would work closely with police on the investigation. Play to Learn Founder and director Jade Luci said the alleged arson was senseless and had left the community heartbroken. "We have no concerns about safety when our families return, and we look forward to welcoming them back to a centre that remains as safe, nurturing, and connected as ever," she said. Play to Learn has operated for 19 years and runs three centres across NSW. Its Turramurra location opened less than two months ago.
