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Modern Inverloch house Australia's most expensive summer auction result this week
A very contemporary three-bedroom house in the coastal Victorian town of Inverloch was the most expensive sale for the second week of January, selling for $1.95 million at auction, according to RP Data.
Located on The Esplanade, the home (pictured above) sold at auction on January 12 by LJ Hooker Inverloch in conjunction with Raoul Holderhead at Burgess Rawson.
The property boasts three bathrooms, an internal lift and a self-cleaning pool.
"Designed to capture the water views you will find yourself drawn to the home's windows which frame the Inlet as if the views were a painting on the wall," Leighton Page, the LJ Hooker listing agent said.
The auction conducted by auctioneer David Scholes attracted 500 onlookers. The town is 140 kilometres south-east of Melbourne on sheltered Anderson Inlet near Venus Bay, between Cape Paterson and Cape Liptrap on the South Gippsland coastline.Scholes joked with potential bidders, telling them the name Inverloch was Scottish for "huge future potential growth" the amusement of the crowd.
It set a new record price for a residential home on The Esplanade after its pre-auction inspections drew up to 150 at one open.
The first accepted bid was $1.5 million. The 1147 square metre block cost $350,000 in 2001.
The town's other significant listing is by the former AFL Melbourne champion-turned-football commentator Garry Lyon, who listed his Inverloch holiday home for sale at $899,000 in early November.
It's been listed LJ Hooker Inverloch director Allan Mann.
Architecturally designed with a contemporary style, its being marketed as able to accommodate a large family for either permanent or holiday living.
The 10 most expensive sales across Australia last week were:
61 The Esplanade, Inverloch, VIC, 3996, three-bedroom house, sold at auction on January 12 by L J Hooker Inverloch for $1.95 million
131 Coromandel Road, Ebenezer, NSW, 2756, five-bedroom house, sold on January 8 by Mcgrath Estate Agents for $1.5 million
14/9 Bowen Drive, Barton, ACT, 2600, three-bedroom unit, sold on January 10 by Independent Property Group Sales Turner for $1.38 million
16 Reliance Close, Pelican Waters, QLD, 4551, four-bedroom house, sold at auction on January 10 by Ray White Caloundra for $1.2 million
19 Yarralea Street, Alphington, VIC, 3078, three-bedroom house, sold on January 10 by Miles Real Estate Ivanhoe & Rosanna for $1.07 million
62 Garrett Street, Maroubra, NSW, 2035, two-bedroom house, sold on January 11 by L J Hooker Maroubra for $1.02 million
22 Austral Avenue, Beecroft, NSW, 2119, three-bedroom house, sold on January 10 by First National Real Estate Epping for $880,000
126 Virgil Avenue, Yokine, WA, 6060, four-bedroom house, sold on January 9 by Century 21 Residential Solutions East Perth for $840,000
18 Hobart Road, New Lambton, NSW, 2305, four-bedroom house, sold on January 11 by Prd Nationwide Newcastle for $825,000
5 Grieve Street, Macleod, VIC, 3085, three-bedroom house, sold on January 10 by Miles Real Estate Ivanhoe & Rosanna for $785,000
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Those who take the time to do some research before tossing a few hundred thousand at an investment property tend to focus on demand, with scant regard for the flipside of the growth equation.