A home near Noosa has fetched the highest national price at auction on Saturday after buyers from across the globe spent just 20 minutes pushing the price up to a record-smashing $9.025 million – blowing the minds of its owners and onlookers.
After six registered bidders raised their paddles for the four-bedroom, three-level prize on the day – a NSW buyer was forced to break a non-beachfront suburb record to snatch the keys.
The property, at 8 Stevens Street, Sunshine Beach, last sold as a 512-square-metre vacant block for $1.75 million in August 2017, having sat on the market for a mammoth 968 days.
Four years later, median house prices are at record heights as the coastal hub continues to outperform Brisbane and the Gold Coast off the back of unprecedented interstate migration.
Selling agent Peter TeWhata, of Tom Offermann Real Estate said while the insatiable appetite for Sunshine Coast property had fuelled the outstanding result, it was the home’s compelling combination of high-end design, beautiful presentation and location that lead to the record-smashing result.
“Over the campaign, the inquiry was phenomenal – I was losing Sundays just to keep abreast of it, and that inquiry was coming from interstate overseas and local,” Mr TeWhata said.
“On the day, bidding started at $6.5 million, and there was a gasp from the crowd … I think in the end it was down to two bidders, and they were battling it out for the right of ownership, and they were both interstate buyers, but they were also familiar with the Noosa property market.
“The owners actually bought the land through me about four years ago … and I think (the auction result) it did blow their minds.”
The home, which features exquisite indoor-outdoor spaces, a pool and sweeping ocean views, is one of a handful of multimillion-dollar properties to transact in the region over the past few months, with Mr TeWhata attributing the seaside hot spot’s relaxed allure – particularly during the pandemic – as a key contributor to the real estate boom.
Down in Sydney, a family who had held onto their acreage home in Horsley Park for 40 years discovered they’d been sitting on a little pile of gold after it sold under the hammer for $4.305 million – an incredible $1.3 million above the reserve.
Sprawling over five acres and featuring a cosy three-bedroom cottage, the tightly-held piece of real estate at 30-40 Truman Road sent the eyebrows of the vendors and the selling agent into their hairlines when bidding quickly blew past the price guide.
Eva Frketic of the Agency Inner West managed the sale and said it was one of the most incredible auctions she’d ever witnessed, with 11 registered bidders vying for the home in front of an online crowd of almost 100.
“We were all a bit caught off guard … I mean, bidding started at $2.8 million, and we were ecstatic with that … we thought it was a great start, but then it just went up from there,” Ms Frketic said.
“We just didn’t go into this auction expecting it to be the outcome that we had … the successful bidder was from just outside the LGA … and when he won the winning bid, he was ecstatic.
“He quite openly admitted that he had exceeded what he was prepared to pay (around $3 million), but he just thought it was too good an opportunity to give up.”
While the sale left a lot of jaws on the floor, Ms Frketic said it was a result of Aussie buyers pumping more money into bricks and mortar than ever before in a trend that was directly linked to the pandemic and the global uncertainty it fostered.
Back up in Brisbane, the flawless Queenslander of Freelancing Gems chief executive Fleur Madden fetched $2.095 million under the hammer, collecting the city’s top sale at auction on Saturday.
Sitting on just a 439 square metre block and boasting five bedrooms and a Hamptons-inspired design, 58 Bilyana Street, in Balmoral garnered 70 inspections over a short two-week campaign, with a Sydney buyer landing the winning bid.
In a post-auction Instagram post, Ms Madden said she’d modelled the “dream home” on properties she’d seen in the Hamptons while living in New York, with her and her family accumulating countless special memories there, including an engagement and the arrival of two babies.
“Only good things have happened under this roof, and now another lovely family will make beautiful memories here,” she said.
Selling agent Brandon Wortley of Ray White Bulimba said on the day multiple registered buyers flocked to the home with “frenzied” bidding opening at $1.65 million.
“There were $50,000 rises until $1.9 million, and it was called on the market … so, it sold for over the reserve,” Mr Wortley said.
“I think it’s the start of a new era in property in Brisbane, and on the coal face, we’ve seen it coming for six to 12 months.”
Nearby, at 31 Eric Crescent, Annerley, a modest Queenslander on a 653-square-metre block, sold for $265,000 above the reserve price after 16 registered bidders fought it out to $1.19 million.
Selling agent and principal of Ray White Annerley Geoff Sellars said the buyers were a young couple who were renting nearby and saw the immense value in the area thanks to its transport, infrastructure and prime positioning to the Gabba, which will be refurbished in time to host the Olympics.
Back down in NSW, McGrath Hunters Hill agent John Paranchi collected $4.126 million for a five-bedroom home on an 859-square-metre block at 51 Batemans Road, Gladesville, after a young family from Rozelle beat seven registered bidders for the charming property.
Mr Paranchi said the sheer level of genuine buyer interest inspired the team to bring the auction forward to Saturday.
“I think it was the great location close to all the schools … and the beautiful garden and big family home [that attracted so many buyers],” Mr Paranchi said.
“Homes are also tightly held here … and it sold above expectations, and the vendor was over the moon.
“I’ve been selling in Gladesville for 30 years, and in the past 20 years the migration from the inner west with character homes [has increased] … it’s a trend that has been going for a while, but right now the market is [especially] strong, and there’s not a lot of stock.”
Further south in Victoria, a “fixer-upper” on the Mornington Peninsula sold under the hammer for $2.215 million – with seven registered buyers each vying for the home on a big block.
The “holiday shack” at 6 Parkside Street, Sorrento, features a 962-square-metre parcel of land and had been tightly held for two decades but needed a major makeover.
Selling agent Clayton Smith of RT Edgar Portsea said the buyers were planning to spend some time and money restoring the cottage, which they plan to keep as a holiday shack.
“It was a great auction, and actually, while the forecast wasn’t looking great on the day, it turned out to be lovely, so there was definitely a good crowd, and it was nice for everyone to get out of lockdown,” Mr Smith said.
“There’s always interest in this area, and we are thrilled, of course, for the new owners who are a young family.”
In Cheltenham, a spotless three-bedroom home at 9 Fairview Avenue collected $275,000 more than the reserve on Saturday, after a couple paid a potentially record-breaking price of $1.4 million.
Selling agent Angela Limanis of Ray White Cheltenham said four active bidders turned up for the auction, which led to some “pretty insane” bidding.
“I think it’s the highest price for a three-bedroom house of its kind on 585 square metres in that area,” Ms Limanis said.
“It wasn’t your typical Cheltenham floor plan, it had a few quirks, but it was in the middle of the suburb close to everything, which was a real drawcard.
“[The buyers] bought the house for their parents to live in and valued it more than anyone else.”