A six-bedroom luxury house has sold for a record price in Sunnybank Hills, after an auction so busy people couldn’t move within the crowd.
116 Belvedere Cres found 21 registered bidders going into the Saturday auction, along with a crowd of more than a hundred packed the rooms inside the house’s lower level.
The home was built by a Taiwanese family 38 years ago, finally downsizing after using it as their family home.
116 Belvedere Cres, Sunnybank Hills
The six-bedroom home was built nearly 40 years ago for a family who immigrated from Taiwan.
Place Sunnybank agent Andy Guo said more than more than 64 groups checked out the property during the last open home, making for more than 200 people just that day.
“[On the auction day,] I didn’t have any room to move between the people,” he said. “It was all jam-packed.”
Bidding began at a whopping $2.75 million, breezing past the suburb’s median house price of $1.205m.
“It smashed the majority of underbidders; it’s unbelievable, a shocking starting bid,” Mr Guo said.
More than 100 people crowded the inside of the home on the Saturday morning.
The opening bid of $2.75 million priced out the majority of the 21 registered bidders.
“It was a very tense bidding war. There was no hesitation.”
Despite 20 people registering for the home, only 3 were now prepared to bid for it, with a furious bidding war taking place between the three over the next dozen bids.
One underbidder dropped out at $2.9m, with the remaining two families going head to head to push the home over the $3m mark.
Finally, after 33 bids, the home finally sold for $3.0735m.
This represents a record price for homes in the suburb less than 1000 sqm large, and sold for nearly $100,000 over the reserve price.
The final price after a bidding war between three parties was $3.0735m.
The lush home went to a family from Regents Park who paid more than they had planned to on the day.
“[The seller] knew her home was worth a lot of money, but she’s very happy with the outcome,” Mr Guo said.
The winners ended up going to a middle-eastern family from Regents Park, who Mr Guo said planned to only spend up to the high $2m mark.
“The final buyers fell in love with this one. They desperately wanted to buy it; they were determined and they were prepared to pay more,” he said. “I think they pushed their limit … but they ended up paying a lot because of competition, and because they see the value of the home.”
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