Liberal councillor Christine Forster, sister of former PM Tony Abbott, gets windfall at auction ahead of Mardi Gras
Liberal councillor Christine Forster and wife Virginia Flitcroft have netted a massive windfall from the auction of their Surry Hills terrace ahead of Mardi Gras.
Retiring Liberal city councillor Christine Forster, the sister of former Prime Minister Tony Abbott, and wife Virginia Flitcroft have netted a $2.705 million windfall on the sale of their home ahead of Mardi Gras.
The price paid at auction for the Surry Hills terrace built in 1885, reported to have been used as a brothel by previous owners, was $1.42 million higher than what the couple paid in mid-2010, records showed.
It meant they pocketed about $140,000 for each year they owned the home without lifting a finger – no major renovation was done.
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A visibly emotional Ms Forster told The Sunday Telegraph she was “sad” to part ways with the house after the couple made the decision to downsize to a nearby home near Oxford St.
She said the terrace had served their needs well. “We’re good catholic lesbians with six kids between us. It’s been a great family home,” she said.
Ms Forster added that they “loved the area” and got a “terrific buy” nearby. “Bourke St, it’s the best place in the world, it’s a stone’s throw from everything and it’s in the hub of gay Sydney,” she said.
The sale comes as Ms Forster, a councillor for the City of Sydney, announced last month she would not stand for preselection for the upcoming local government elections. She would instead focus on her full-time job as a media Adviser for a petroleum company.
The couple’s home went to market with a $2.3 million guide. The reserve was not disclosed.
Selling agent Jeremy Brink of Ray White-Taylor and Partners said there was considerable interest in the home over the lead up to the auction.
Seventy groups went through the property at the open for inspections and four bidders registered for the auction, despite the $2.3 million guide price.
“Having four strong bidders was a good result,” Mr Brink said. “There is not a lot of stock for people to choose from so we’re getting good results.”
Auctioneer James Hayashi received an opening bid of $2.34 million immediately after launching proceedings.
The bidding went up quickly in increments of mostly $20,000 before slowing at around the $2.6 million mark.
“There was hard and fast bidding which is typical of the auctions right now,” Mr Hayashi said.
There were just over 600 auctions scheduled for the week with more than 85 per cent expected to clear based on results in previous weeks.
In Alexandria, 22 buyers registered for the auction of a two-level terrace on Gerrard St in Alexandria.
The property sold for the first time in 37 years for $2.25 million — $425,000 over the reserve.
Selling agent Brad Gillespie of The Agency said the higher-than-expected price was the result of pent-up demand. “From the start of COVID to Christmas, a lot of people took themselves out of the market and they all landed back in after January,” Mr Gillespie said.
Originally published as Liberal councillor Christine Forster, sister of former PM Tony Abbott, gets windfall at auction ahead of Mardi Gras