A million reasons why this Ballina auction was so crowded
A WATERFRONT property in East Ballina has sold for more than a million dollars at auction on Saturday.
The vendors Dulcie and Eric Strong had lived at the Fenwick Drive property for 43 years before they sold it for $1,187,000 on Saturday.
The sales price set a street record, and it also broke Shaws Bay records according the agent.
When the vendors had the place valued in 1991, it was worth $70,000.
The median house price in East Ballina has risen significantly since then to $795,000.
Its placement on the Fenwick foreshore and 250m from Ballina’s Lighthouse Beach has been a selling point.
The real estate agent showed no less than 90 people through the property before the auction.
There were eight bidders who made 18 bids starting at $950,000.
There were plenty of members of the public interested in the sale, with 60 parties showing up to the auction, hosted by McGrath Real Estate.
The neighbour’s kids baked brownies to raise money for the Rural Fire Service and sold plenty at the auction.
The four bedroom, three bathroom property on a 721 sqm block was becoming a bit too big for the couple in their eighties.
The Strongs plan on moving to a smaller residence in the area.
It is understood the buyers will be living in the family home.
Older couples and families are the most prevalent demographic of people in East Ballina, making up 26 per cent of the local population.