A three-bedroom beach house in one of Noosa’s most coveted coves has collected a record-breaking $14.25 million under the hammer following one of the hottest two weeks in property history on the Sunshine Coast.
The luxurious home, at 20 Arakoon Crescent, Sunshine Beach, was offloaded by Sydney investment banker Simon Moore in front of a crowd of 50 on Sunday, with three out of four bidders fighting tooth and nail for the lavish real estate prize.
After bidding kicked off at just $8 million, selling agent Tim McSweeney, of Tom Offermann Real Estate, said large sums were slammed down until an unnamed Brisbane buyer snatched the keys and simultaneously set a new Noosa record for a standard size beachfront lot of 600 square metres.
“The reality of it is, Noosa is pretty remarkable because you can’t build any more of it and if you want a piece of it you’ve got to pay for it,” Mr McSweeney said.
“This is the third time we’ve sold this property … the last time was in 2004 for $4.7 million.”
20 Arakoon Crescent, Sunshine Beach QLD 4567
The home, which features sweeping ocean views and a chic 14-metre pool in an exclusive Sunshine Beach strip, was the most expensive property to sell in Australia at auction over the weekend and comes hot on the heels of a phenomenal 10 days of property auctions in the sizzling seaside market.
Just a week ago, an exclusive apartment at 5/81 Hastings Street, Noosa Heads, smashed the Queensland unit price record when it sold for $16.1 million under the hammer through Tom Offermann Real Estate.
In Sydney, a leafy pocket of the city’s north-west is on the cusp of a real estate renaissance after a family home smashed the suburb house price record by almost $200,000 at auction on Saturday.
The five-bedroom house – at 45 Glenwood Park Drive, Glenwood – sold under the hammer for the reserve-busting sum of $2,085,000 in what was a landmark sale fuelled by mass migration from Sydney’s pricier suburbs, auctioneer Stu Benson, of Benson Auctions, said.
“It was just incredible – no one would have believed you two years ago that we would be selling houses for $2 million here in Glenwood,” Mr Benson said.
“And this property is not exactly blowing anything off the charts … but it does represent a new stage of desirability and demand for this part of the north-west of Sydney.
“It’s coming from young families who more often than not are taking their second step on the property ladder and going from town homes.”
The brick home, which was marketed through Shiv Nair, of Harcourts Hills Living, fetched $335,000 over the reserve and was one of 397 homes to sell at auction across Sydney on Saturday – with a total of 76 per cent of homes cleared under the hammer.
Bidding opened at $1.7 million, Mr Benson said, with one determined buyer throwing down eyebrow-raising sums to kill the competition of 16 registered bidders, in a strategy that helped him nab the keys.
“Every single person who tried to place a bid received an extremely quick reply from him and that’s because he (the buyer) just listed their property for sale and he didn’t want to run the risk of selling without having somewhere to go,” Mr Benson said.
“So his incentive was clear. He’s in the neighbouring suburb at Parklea and he’s had his eye on Glenwood for some time.”
While the last house price record for the suburb was set mere months ago, Mr Benson said the vendors were floored by just how much their home fetched.
“They were audibly delighted and it was a combination of shock and awe … but it was a testament to how well they presented it,” he said.
The strength of that outer suburb migration trend was evident at 1017 Old Northern Road, Dural, where Mr Benson collected $3,485,000 for a two-bedroom cottage on a large 2.37-hectare block, marketed by Ben Jobberns, of Guardian Realty.
“We were getting close to an hour with this auction … and we had 16 registered bidders with the majority of people wanting to build their forever home there,” Mr Benson said.
“There’s this flight to acreage in the north-west at the moment and I’ve never seen anything like it.”
Over in Randwick, an unrenovated cottage that had remained in the same family for a century fetched $3.1 million under the hammer after an upsizing couple fought their way clear of two other active bidders.
The quaint three-bedroom Federation home, at 1 Ethne Avenue, was built in about 1912 in a prized patch of the sought-after suburb, said co-selling agent Kate Smith, of Ray White Woollahra/Paddington, with a blend of families and property flippers flocking through its historic halls.
“The vendors are downsizing retirees and this home has been in the family for over 100 years … and they had never sold before so they were curious to see the auction process. The first bid started at $2.8 million and it went up in $50,000 bids and it was very strong from two parties,” Ms Smith said.
“There was a nice energy (across all auctions and inspections) this weekend and there’s more stock now. So given this late start to spring I think it will be strong until Christmas.”
In Melbourne property punters celebrated the first on-site auctions in months with 76 per cent of homes cleared after 571 properties sold.
At 48 Lyndhurst Street, Richmond, a charming two-bedroom, Victorian townhouse fetched $1.29 million under the hammer through Edward Hobbs, of Biggin and Scott Richmond, after four bidders battled it out to figure just beyond the reserve.
“We were expecting it to sell … but the most recent sale along there was $1,120,000 so we thought that $1,150,000 would be a good outcome for this home as it was the first auction back out of lockdown and it could have gone either way,” Mr Hobbs said.
“And it went the right way. In line with comparable sales it was a strong result … even with the adjustment of coming back onto the street.”
Mr Hobbs said first-home buyers dominated the auction with a young woman securing the winning bid.
“The vendors had had this for 20-plus years … so there’s some fantastic organic capital growth out of that and she’s made awesome money on it … both the buyers and sellers are happy,” he said.
Over at 18 Baker Street, Moorabbin, a two-storey, four-bedroom property sold for $1.455 million – $205,000 over the reserve – after a virtual bidder claimed the keys at the hybrid auction.
“That was a really good result … and it was my first cab off my rank for street auctions (post lockdown). So it was an adrenalin rush,” said selling agent Kevin Chokshi, of Ray White Cheltenham.
“We’ve been doing them online for four months now … so it was really cool and everyone was happy to be out on the street … it was almost like winter is over and all the birds came out,” he said.
Five registered bidders physically and virtually raised their paddles on the day, with the home’s stellar location, polished finish and lush yard luring families and one investor.
“The owners were chuffed … their dream was $1.3 million and they couldn’t believe what happened so it’s a very good story … and with all the excitement on the street it felt like the good old days,” Mr Chokshi said.
In Brisbane 57 homes sold under the hammer, with 79 per cent of homes cleared by the end of the day.
A quintessential three-bedroom Queenslander lured one of the biggest buyer turnouts across the city, with 35 registered parties vying for the character cottage on a 427-square-metre block.
The three-bedroom house eventually sold for $1.275 million.
“On the day bidding kicked off at $1.1 million which blew most of the bidders out of the water, leaving five of them to duel it out from there,” selling agent Janine McDonald, of Ray White Alderley, said.
“First-home buyers (collected the keys) … and they were absolutely rapt.
“In my neck of the woods the market is continuing to go from strength to strength and we are seeing buyers who started their hunt closer to the city moving further out for affordability reasons.
“And it’s creating a price uptick – a property down the road sold about a month ago on a block double the size for $1.292 million.”
58 Delaney Cct, Carindale QLD 4152
Over in 58 Delaney Circuit, Carindale, a six-bedroom, four-bathroom home that had never been offered to the market sold for $2.29 million after a family threw down the reserve-smashing sum despite seeing the home for the first time just three days earlier.
“This exceeded our expectations … we had 15 registered bidders but three of them were serious and going hammer and tongs until the $2 million mark,” said co-selling agent Dean Drakos, of Cosmopolitan Estate Agents.
“It was the size and the location (that lured the buyers in) and it’s a really good pocket of Carindale … but the buyers only saw it in the last week of the campaign … and it sold for well above the reserve.
“But it’s a family orientated area and it’s a bit prestigious as it’s near the golf course … and with the 846-square-metre block that was a driver. For the buyers, they know that prices here are going north so they’ll get their money back.”
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