An overseas buyer knocks out the competition with record price for lowset canal-front property

QUEST realestate. 34 Intrepid Court, Newport. Redc

The lowset home at 34 Intrepid Court, Newport, achieved a surprising sale result at auction.

A NEWPORT property with 35m of canal frontage sold under the hammer on the weekend for $1.315 million – setting a lowset home record.

One Agency marketing agent Stephan Siegfried said the sale of 34 Intrepid Court went beyond everyone’s expectations.

“It’s a big record for a lowset house – I don’t know anything of that age on a single block that’s sold for anything near that money,” he said.

“It has set a new benchmark and really puts confidence in the market for other people who may be looking to sell.”

Property data from CoreLogic backed the claims of a record, revealing that all 23 Newport homes which have sold for more than $1.315 million were two-storey.

QUEST realestate. 34 Intrepid Court, Newport. Redc

It’s all about the location.

Mr Siegfried said there were about 50 people at Saturday’s auction, with four registered bidders.

Bidding opened at $950,000 and two bidders battled it out from $1.22 million until the end.

“The best way I can describe the bidding was ‘spirited’. The owners are delighted, and even I was going ‘wow’. One bidder was an interstate buyer, and the people who bought it are relocating from overseas to make Newport their long-term home,” Mr Siegfried said.

The four-bedroom, two-bathroom house is at the junction of three canals with a private pontoon and inground pool.

In late September a two-storey house at 51 Intrepid Court sold for $1.5 million, setting a new street record. The four-bedroom, three-bathroom home on a 946sq m block has 40m of canal frontage, a private pontoon, inground pool and Bali hut.

Source: realestatecomau

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