A new real estate record has been established for Culburra Beach with a beachfront home selling for more than $2.5 million.
The property at 131 The Marina, with stunning views of Culburra Beach, was sold by Craig Hadfield of Ray White South Coast at auction.
This property was expected to reach the $2 million mark but exceeded all expectations reaching $2.516m, smashing the previous best sale price for the area of $1.85m.
Mr Hadfield said interest in the property had been strong during the sales campaign.
“We had eight interested groups and we thought the home, which is in a stunning location, would push up into the $2 million mark but come auction night we had two parties who pushed that even further, reaching $2.5m,” he said.
The eventual buyers were a Sydney couple who are looking to retire to the area and will be making their future home at the property.
“It really is a beautiful home, at just over 1500 square metres it is one of the biggest properties in the area,” Mr Hadfield said.
“There are no neighbours on one side and it has sensational beach views.”
The home sits high on The Marina, boasting expansive ocean views, with easy access to the beach, yet still offering privacy.
Six bedrooms are spread over the three-level property, with four on the ground floor along with a family room, spa room and kitchenett, another large bedroom on the first floor which also features a kitchen, large central lounge area that opens out to the south facing alfresco dining area and a more formal dining area.
There is also a further large bedroom on the upper floor.
A north facing deck takes in the spectacular panoramic views, including gorgeous sunrises over the ocean.
Mr Hadfield said the Shoalhaven market continues to perform strongly.
“The broader market is still very strong,” he said.
“We still have huge numbers migrating from Western Sydney and Wollongong which is supporting the broader market.
“I think the market will continue quite strongly in the new year and into the middle of the year.
“There are some signs pockets of area are starting to run out of steam. Areas like Worrigee and South Nowra, where there is a large supply of property the prices don’t seem to be increasing. Perhaps they have reached their limit price ranges?”
Ray White conducted another auction evening on Wednesday, with 15 properties for sale.
“We sold two properties prior to the auction and another five on the night,” Mr Hadfield said.
One property of interest that sold was the former beachside home of renown Shoalhaven artist Arthur Boyd.
Also located on The Marina at Culburra Beach, the property sold for $1.288m.
“It’s the third time in 10 years we have sold the property,” Mr Hadfield said.
“The last time it sold was a couple of years back for under $1m.”