Popular party home in wealthy suburb sees jaw-dropping sale price at auction
A home known for big local events in this pricey location sold in front of a crowd of 100, for nearly $2m over the suburb median.
Around 100 people gathered for the sale of a popular house in the Ascot community, selling on Saturday for nearly $2 million more than the suburb median.
The four-bedroom, three-bathroom property at 31 Mayfield St was a hub for local events, and vendors Richard and Sophie Didcott said it was a good way to interact with their neighbours of ten years.
“We love entertaining and we love community,” Mr Didcott said. “We’ve had a lot of community get-togethers, whether that be fundraisers or Halloween … it was a great home for that.”
Looking to upgrade their home, they decided to sell the property, attracting dozens of people to see what the well-known home would go for.
“A lot of neighbours, a lot of people congratulating us after the sale, which was awesome,” Mr Didcott said.
Agent Damon Warat of Ray White Ascot said the home attracted people from interstate and overseas, but the three registered bidders all ended up being locals.
“There was probably about 100 people there,” he said. “It was extremely busy.”
Bidding began at $3 million: $635,000 more than the median house price in Ascot, $2.365 million.
The second bid increased the offer to $3.3 million, with bids of $100,000 at a time spiking the price of the home.
Come $3.8 million, the opening bidder jumped out. The two remaining contenders fought it out with rising bids between $5,000 and $30,000.
After dozens of bids, the home went on the market at $3.995 million, before finally selling for $4.011m.
Mr Warat, who ran the campaign with Alexander Shean, said it was a “spirited” bidding round between the three locals, all of whom were excited to secure a spot on that street.
“What was important to all of them was the location,” he said. “It’s a very small street, but there’s two luxury homes being built there at the moment – it’s a very sought-after spot.”
In fact, someone from the Ascot community did buy the home: a family who lived near the end of the street, looking to upgrade to a better home themselves.
“Ours is nicely presented,” Mr Didcott said. “I’m really happy … Alex and Damon did an awesome job.
“[The buyers] are just buying it for their own new dream home”,” Mr Warat said. “The location is as good as it gets: people aspire to get to Mayfield St. And it’s also a home people can add more value to and get improvements for over time as well.”
Originally published as Popular party home in wealthy suburb sees jaw-dropping sale price at auction