A four bedroom home at Oxley sold at auction for $862,000 yesterday.
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According to the agency representing the property, it was the second week in a row the suburb's price record has been broken. The house at 182 Newman-Morris Circuit, Oxley, had been renovated and included a study separate to the bedrooms as well as a four-car garage.
Fifteen registered bidders turned up and eight people put forward offers throughout the auction, a hefty number of interested parties in the existing market.
While there were numerous potential buyers battling it out for the property, it came down to three bidders after the $800,000 mark had been cracked.
''There were a lot of $1000 bids at the end,'' said Richard Keeley, a director of Luton at Woden.
''There are definitely more buyers out there at the moment and a bit more spirited competition.''
Last week Auction Watch reported Luton had broken the suburb record for Oxley with the sale of 27 Nunan Crescent for $780,000, reportedly several thousand dollars more than the past record.
Now last week's benchmark has been smashed by more than $80,000 with this sale in the southern suburb.
Yesterday's sale also surpassed the reserve price the owners had set by $72,000.
The new owners of the home are business owners who have three children - and a fourth child on the way.