Core Insights - A record price of 6.25 million AUD was achieved for a property in Roseville Chase, Sydney, attracting over 200 attendees at the auction [1][4] - The property, located at 8 Warrane Rd, is the highest price for a sub-1000 square meter lot in the area and the third highest overall [1][4] - The auction started with a low opening bid but quickly escalated, indicating strong market demand [4][8] Property Details - The property features five bedrooms, four bathrooms, and a swimming pool, covering an area of 681 square meters, with a guide price of 5.3 million AUD [4] - The previous owner, a local developer, purchased the original house on the lot last August, demolished it, and rebuilt the new home [5] Market Trends - Market confidence has been strong since the recent elections, with a surge in buyers following the second interest rate cut [8] - There has been an influx of both returning and new buyers, leading to increased demand despite a similar number of properties available compared to the previous year [8] - PropTrack data indicates that Roseville Chase is one of the hardest areas to buy property in Sydney, with only 2% of homes changing hands annually, compared to an overall turnover rate of 4.6% in Sydney [10]