The ink has dried on the sale of a 1960s Brahma Lodge home, marking a staggering new residential price record for a single house in the northern suburb.
The 1964-built three-bedroom house at 18 Cambridge St was snapped up for $958,000 at auction in October but the sale only recently settled.
It has raised the bar for the suburb, property records show, eclipsing that of 12 Eastview St, which sold for $935,000 at a similar time.
There have been several other higher sales in the suburb but they have included multiple properties, records show.
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18 Cambridge St, Brahma Lodge.
18 Cambridge St, Brahma Lodge.
18 Cambridge St, Brahma Lodge.
Edge Realty principal Mike Lao said more than 50 prospective buyers registered to bid on the 760sqm property, which had a $550k price guide.
“It was crazy, we had about 51 registered bidders,” said Mr Lao, who sold the property with Tyson Bennett.
As the price quickly climbed, Mr Lao said most prospective buyers were priced out so only a handful made an offer.
He said about half were owner-occupier buyers while the other half were developers.
“Some of the developers were excited about the potential to subdivide into three (properties),” said Mr Lao.
He said a developer secured the property and planned to build multiple homes on the site.
Property records show several properties have sold for high prices in the suburb recently.
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18 Cambridge St, Brahma Lodge.
18 Cambridge St, Brahma Lodge.
18 Cambridge St, Brahma Lodge.
One at 22 Tindola St sold for $860,000 early last month, while another at 135 Park Tce changed hands for $837,000.
Mr Lao said a combination of the area being “undervalued for so long” and limited available land were making properties in the suburb popular.
“Salisbury is really well located and there are a lot of amenities too,” Mr Lao said.
According to latest PropTrack data, the median house price in Brahma Lodge is $652,500.
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