Auction watch: A rare South Durras find sparks bidding war

On our way to film a South Coast live auction special on Saturday morning, Allhomes was part of a convoy of cars from Canberra which embarked on a trip down the Clyde Mountain to South Durras.

Despite looking like a traditional pilgrimage to the sunny coast for the weekend, these Canberrans were on their way to make a bid on 37 Banyandah Street.

A typical coast house with great bones and a spacious design, there was a huge demand for the property which sold for $85,000 above its reserve point and $5000 above South Durras’ median house price. It sold under the hammer for $535,000. 

Selling agent Christine Ewin, of Raine & Horne Batemans Bay, was “totally shocked” at the outcome.

“There was a huge buzz and lots of nervous excitement in the audience and lots of hopeful bidders,” she said.

There were nine registered bidders among the large crowd at the home just around the corner from Cookies Beach. Out of the nine parties, four made eager bids on the property.

Bidding started at $300,000 and quickly progressed to $450,000. Momentum was sustained throughout the entire duration and towards the end there was intensive bidding between two parties.

It’s rare for a property to come onto the market in South Durras, particularly one of this size and in such close proximity to the beach.

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A highlight of the three-storey home was a mezzanine with a void overlooking the kitchen and living area. Features include polished timber flooring, exposed feature beams, a fireplace and a verandah running along the front and side of the home.

“More than 40 groups came through to inspect the property. It was very popular because it’s a real reno opportunity and a great entry point into the market at South Durras,” said Ewin.

A renovator’s dream, the home was bought by a Canberra family who intend to enjoy the property as a holiday coastal retreat.

Check out the rest of the auction results here!