‘Stockman Manor’ estate breaks Homebush suburb record in $7m sale
One of the earliest surviving settlements in Homebush has smashed the suburb home sales record with a massive price.
One of the earliest settlements in Homebush has broken the residential sales record by $2.15m over the weekend.
The landmark ‘Stockman Manor’ estate at 91-93 Abbotsford Rd had been tipped to sell for $5.5m prior to auction and had received a high volume of interest from local buyers.
Spanning 1,858 sqm, the six bedroom and three bathroom property is the largest land holding on the street.
The auction saw seven registered bidders competing for the home in front of a crowd of 150 people.
Bidding began at $5.3m before jumping up to the $5.5m guide and subsequently climbing up to the $6m reserve.
A young family of entrepreneurs secured the property, reaching the final offer of $7.425m.
The property was listed via Richard Matthews agent Vivek Tailor, who said that buyers had been drawn to the indoor and outdoor spaces.
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“It was an honour to represent a home of such grandeur that is a piece of local history, and considering the property is in a conservation zone to achieve this result is really fantastic.”
“The level of interest we had on the weekend is a great reflection of the shortage of good quality homes for buyer’s in today’s market.”
Constructed in circa 1896, ‘Stockman Manor’ is surrounded by manicured gardens with an entrance that included a water fountain and a pebble footpath.
Other luxury features included an illuminated tennis court, a gas heated swimming pool, a master retreat with his and hers vanity and spa bath, and a large internal laundry.
Over the past year, median prices for homes in Homebush have fallen by 8.4 per cent – with the average property costing $2.392m to purchase.
According the latest PropTrack Home Price Index, national home prices continued to stabilise in April after rising for the fourth consecutive month, rising 0.14 per cent.
The cumulative increase in 2023 is now 0.75 per cent. Strong migration, tight rental markets and limited supply are offsetting the impact of rapid interest rate rises.
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Originally published as ‘Stockman Manor’ estate breaks Homebush suburb record in $7m sale
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