Housing commission home sells for $1.65M

20th March 2017 10:38 AM
MILLIONAIRES ROW: The Housing Commission house in Keats Street, Byron Bay which sold at auction on Saturday for $1.65 million. MILLIONAIRES ROW: The Housing Commission house in Keats Street, Byron Bay which sold at auction on Saturday for $1.65 million. Jann Burmester

IN a sign that the Byron Bay property market is going gangbusters, an old housing commission home in the town has sold for a whopping $1.65 million.

Located on a 1200sqm block, the house at 27 Keats Street, was sold at auction on Saturday by LJ Hooker Byron Bay.

The auction attracted 11 registered bidders and a crowd of about 50.

LJ Hooker managing director Tony Farrell said there was lots of competition for the house which was cited for either future development or for residential use.

"The end result of $1.65 million was way above reserve and truly surprising,” he said.

"A local family has purchased the house and they will either renovate it or do a complete rebuild.

"The unexpected auction result is a sign of a very buoyant market.”