PHOTO: Little Bay’s suburb record was broken on Friday, with the $9.3 million sale of a waterfront home.
A house in Little Bay in Sydney’s south east has sold for $9.3 million, smashing the suburb’s previous record by almost $3 million.
The five-bedroom coastal home had been scheduled for auction next month with an $8 million price guide but sold on Friday to a buyer in Taiwan.
The Murra Murra Place property had been on the market for less than three weeks, drawing strong interest from eastern-suburbs house hunters and some international buyers – with about 50 inspections conducted.
When selling agent Nader Hotait, of Ray White Eastern Beaches, flagged a pre-auction offer of $8.5 million with interested parties, a process of multiple offers ensued between the Taiwanese purchaser, a buyer from Russia and a Clovelly local, and the home sold on Friday morning. The buyer plans to relocate back to Australia in the next six months.
The result smashed the suburb’s previous price record, the $6.4 million paid for a five-bedroom house nearby on Lister Avenue last year, which also traded through Mr Hotait.
“We would never have expected anything in this price point,” he said. “Even when we broke the price point 12 months ago that house took about six months to sell. Now with the shortage of property on the market and a lot of people trying to get into coastal homes, it’s driving prices up really strongly.”
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