‘The market for well presented established houses is red hot’: Home sells for more than $1.1m
A TENSE auction battle between a Victorian buyer and an expat in Singapore resulted in one of the highest sales for a property in a popular city suburb in recent years
Northern Territory
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A TENSE auction battle between a Victorian buyer and an expat in Singapore resulted in one of the highest sales for a property in Stuart Park since 2016.
3 Gothenburg Court sold for $1.11m at auction with Real Estate Central on the weekend.
Auctioneer Daniel Harris said the auction was brought forward after more than 100 groups viewed the property within seven days of it being listed.
“(There was) predominantly local interest, solid interest from buyers who have relocated up here from interstate and we also had some international interest in this one,” he said.
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Mr Harris said there were 14 registered bidders on auction day.
“There was nervous anticipation,” he said.
“The auction itself went relatively quickly, not all the 14 registered bidders got a look in.
“It was a two-phase auction. A group of locals fought it out early up to $1m then in the end it was Victoria versus Singapore, with Singapore getting up by a nose.”
The home is the highest sale of an established property in the area, excluding the Frances Park Estate, since 50 Meigs Crescent sold for $1.8m in 2016.
Real Estate Central sales professional Jacob Reynolds said the sale reinforced how well the market was performing.
“The market for well presented established houses is red hot,” he said. “We shouldn’t really be surprised. Results like these at our auctions have become really common the past three to six months. We are now in a nationwide boom and Darwin is leading the charge out performing the other capitals consistently since COVID.”
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Mr Harris described the market as strong for sellers. “If you are a serious seller planning on moving and you aren’t on the market or preparing to go on the market then something’s wrong,” he said.
“There is literally a ratio of approximately 30 buyers for every one seller for the nice homes in blue chip areas, putting significant upward pressure on prices.”
3 Gothenburg Court was also featured on the front page of the NT News’ real estate guide.
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