Why this couple were willing to pay $820,000 more than a house was expected to sell for at auction
- Couple paid $820,000 more for their dream home because of ‘good Feng Shui’
- East Killara five-bedroom home was sold for $5.32 million at auction on Saturday
- Previous owners built home with Feng Shui principles of balance and harmony
A Chinese couple coughed up an additional $820,000 to secure their dream home because it had ‘good Feng Shui’.
The five-bedroom house in East Killara, on Sydney’s upper north shore, sold for $5.32 million on Saturday, well over its price guide of $4.5 million.
The auction attracted more than 60 people who watched as 12 registered bidders battled to secure the ‘expansive double-brick residence’.
A Chinese couple have credited ‘good Feng Shui’ for why they coughed up an additional $820,000 in order to secure their dream home (pictured, the East Killara home)
The five-bedroom property located in Sydney’s upper north shore sold for $5.32million on Saturday, well over its price guide of $4.5million (pictured, the master bedroom)
Auctioneer Clarence White started the bidding at $4.2 million before moving upwards in increments of $20,000, until it came down to just two buyers.
After just 35 minutes, young couple WeiWei Chu and Yueqin Zhai secured the property, which boasts a pool, a spa ensuite, and spacious entertaining areas.
However, it was the ‘good Feng Shui’ that ultimately resonated with Chinese bidders and saw the home sell for $820,000 over the price guide.
Location was also a selling point, with the property a short distance from prestigious high schools, Killara train station, local shops and golf courses.
Feng Shui is the Chinese practice of creating balance and harmony in a space to optimise the flow of energy and allow its inhabitants to live peacefully.
Feng Shui is the Chinese practice of creating balance and harmony in a space to optimise the flow of energy and allow its inhabitants to live peacefully (pictured, the living room)
This harmony is achieved by bringing and balancing five naturally-occurring elements to the property – water, fire, metal, wood and earth.
The previous owners incorporated this ancient practice when designing the home after buying the 1,012sqm plot for $801,000 back in 2000.
The auctioneer who sold the home said the result was ‘a statement about this home, not about the market’.
‘It was a really nicely appointed home,’ Mr White told the Daily Telegraph.
‘It’s in East Killara too, which is the prestigious end.’
The Springdale Road residence has ‘manicured lawns, beautifully sculpted gardens and sparkling in-ground pool’ according to the listing (pictured, the exterior of the home)
The Springdale Road residence has ‘manicured lawns, beautifully sculpted gardens and sparkling in-ground pool’ according to the listing.
‘Set on a blue ribbon level block of 1,012sqm with generously-scaled interiors designed to accommodate growing and multi-generational households, the property’s remarkable solid construction exceeds expectations,’ it read.
Selling agent William Chan from Marshall. Chan. Yahl. North Shores said the proximity to local shops, schools and transport also attracted buyers.
‘The home was pretty much the perfect family home for a lot of people, with level land, a bush view out the back and solid construction,’ he said.
He said homes continued to be bought in the upper north shore without a home loan by buyers with assisted by family wealth.