Millthorpe has joined the million dollar real estate club with the sale of a Blake Street property for $1,060,500.
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Agent Tom Campbell from Bowyer and Livermore First National said that he was elated to have sold the first $1 million residential home in Millthorpe, although he wasn't at all expecting it.
"It was a very difficult property to appraise because there has been nothing like it sold before in Millthorpe," he said.
"I was thinking around the mid $800,000 mark and the vendors were hoping for $900,000. The previous highest price was $825,000 and that was a over a year ago."
Mr Campbell said that there were six people bidding on the property. Four were locals, one from Sydney and one from further west in NSW.
"The new owner is a Millthorpe local who is looking to downsize but still have room for grand kids," he said.
It was so loud that I actually apologised to the lady in the office next door.
- Tom Campbell
Unlike a traditional onsite auction Mr Campbell said that when the bidding tipped over the $1 million mark during the online auction, he let out more than a little whoop.
"I honestly didn't think it would get there, but when we were watching the auction tick away, when it went over the mark, I let out a big woohoo," he said.
"It was so loud that I actually apologised to the lady in the office next door."
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With properties in Orange now hitting the $2 million mark and the Blake Street residence now breaching the $1 million barrier, Mr Campbell sees the future of online bidding becoming more entrenched and is encouraged that two thirds of the bidders were still locals.
"The bidders can be anywhere," he said. "All people need is a good internet connection and they can do it all from the comfort of their own home and it's a very transparent way of selling because everyone knows where the bids are and it takes some of the guess work out."