Lakemba record but cheapest among Sydney's opening weekend auction range

Lakemba had the cheapest of Sydney's 70% weekend auction success rate, according to the results from Domain Group's Australian Property Monitors.

There were 97 offerings in Sydney ranging from $417,000 at Lakemba to $2 million at Lane Cove North.

The 5/41 Sproule Street, Lakemba offering was a two bedroom unit sold through Ralph RE which sold for $417,000. Agent Mark Dissinger says it was a suburb record for a two bedroom without a garage. The modernised 82 square metre last sold at $163,000 in 2001. It came with carport. Mark Dissinger said $476,000 was the top two bedroom price with garaging. It sold to an owner occupier.

The 36 Kara Street, Lane Cove North offerings was a recently refurbished four bedroom house.

McGrath agent Brent Courtney had the house listed for December auction last year with $1.8 million hopes, but the occupation certificate didn't come through in time. 

So as soon as it became available in January, Courtney organised an impromptu auction.

There were nine registered bidders, around half having been there on the property in the lead up to the thwarted December auction.