St Ives $3.2m house hammers street record by $1.37m

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8 Derby St, St Ives

The St Ives house sold for $3.2 million.

AN Australian-Chinese buyer did not waste time to splash $3.2 million on a house in St Ives, crushing the three-year-old street record by $1.37 million.

The buyer of 8 Derby St viewed the four-bedroom house for the first time last Friday morning and the deal was done by 8pm.

“We moved swiftly to close the deal on Friday as she was flying out to China,” selling agent Matthew Furlong, of McConnell Bourn, said.

8 Derby St, St Ives

It smashed the previous street record by $1.37 million.

The new owner will be relocating from Melbourne with her young child.

The 948-sqm property sold pre-auction within 10 days after being listed for sale.

Vendor Claire Pearson, who is downsizing to North Turramurra, is surprised and happy her home sold so quickly.

“Because I already purchased a property, I needed to sell it as quickly as I could,” she said.

8 Derby St, St Ives

Not bad for a 17-year-old home.

8 Derby St, St Ives

No renos have been done since it was built in 2000.

Ms Pearson brought up two sons in the house, who both moved out this year.

The previous house was bought in 1997 for $380,000 and was knocked down to be replaced by the current home in 2000. It is still in the original condition from 17 years ago.

“I looked around the area at the time to see other houses I liked and took inspiration from that,” she said.

“We were able to get exactly what we wanted (by rebuilding it ourselves).”

Mr Furlong said the property would be worth even more if it was closer to a railway station. It takes about 45 minutes to reach the city in peak hour by express bus.

“If it was closer to a train line, it would have had another million on it.”

During the week it was listed, Mr Furlong brought 43 groups through the home and handed out 12 contracts.

He said the home attracted interest from eastern suburbs buyers and local Chinese who already owned properties in St Ives but were looking to buy for their children.

“There’s been a bit of a lack of stock at the higher end, including newer and renovated homes.”

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