Victorian couple pay $2.6m for Yamba holiday hideaway
A MELBOURNE couple has snapped up a property on Yamba Hill as a $2.6 million holiday getaway in a hectic weekend of auction activity on the Lower Clarence.
The sale agent, Ray White Yamba joint principal/licensee Daniel Kelly, believed the price to be the highest in the region in the past four or five years.
In all eight properties went under the hammer over the weekend, with at least four sales confirmed and three of them over the $500,000 mark.
Mr Kelly said the property at 40 Clarence St, Yamba, had attracted intense interest from potential buyers between Brisbane and Melbourne.
"We had 135 inspections during the time the building was open for inspection," he said.
"There were 13 registered bidders on the day and the owners were delighted with the $2.6 price they received."
Mr Kelly said the Melbourne buyers planned to use the property as a holiday home.
That property, which boasts outstanding ocean views, does not enjoy the absolute water frontage of properties in Ocean St, was able to attract mult-million dollar buyers, indicating a broader appeal of Yamba properties.
"The accessibility of Yamba is opening up the area to buyers from further afield," he said.
"The new highway means people can fly into Ballina and the Gold Coast and get down to Yamba quickly and comfortably."
He said Yamba's quiet, coastal reputation was attracting well-heeled buyers who could afford to splash some cash on a holiday retreat or investment property.
"What we're also getting is that these people are looking elsewhere to spend their money, but are finding the prices in Yamba very attractive," Mr Kelly said.
"The other thing we know from this sale is there are still 12 other people looking to buy property on Yamba Hill."
The principal/licensee at Elders Yamba, Vikki Seekamp also experienced a wild weekend - in more ways than one.
"We sold three from three," the ecstatic agent said. "The sellers were all happy with the prices they got, with two of them well over the reserve."
She said the property at 2 Tecoma Pl fetched $810,000 and the Breakers, in Pacific Pde, went for $510,000.
Ms Seekamp said heavy thunderstorms in Yamba at the weekend did not scare off bidders or dampen the enthusiasm of auctioneers.
"During the first sale we had a huge thunderstorms and me and my assisting agent, Darren Billett, got absolutely drenched," she said.
"We went home, got changed and came back for the second sale and the same thing happened again."
Ms Seekamp said while Yamba was growing, the pace was comfortable.
"It's not growing exponentially," she said. "Because of that we're getting a variety of bidders looking to buy and invest.
"It's not all retirees, there's younger people moving into the area bringing their families and working from home or who don't mind the travel."
She said the buyer of the canal home was an outside investor and the Breakers property went to a local buyer.
The Daily Examiner has called a third agent for the results from three more properties for auction at the weekend.