Core Insights - A young family from Freshwater purchased a property in Collaroy Plateau for AUD 7.225 million, highlighting a strong demand for premium real estate in the area [1][3] - The property, located at 52 Edgecliffe Boulevard, is described as a "golden opportunity" due to its stunning ocean and coastline views [1] - The auction attracted six registered bidders, with a starting price of AUD 4.5 million, indicating a competitive market environment [1][3] Property Details - The property features five bedrooms and three bathrooms, and the buyers plan to transform it into their dream home [1] - The land spans 1,018 square meters and has potential for subdivision, subject to council approval [3] - The last recorded sale of the property was in 1987 for AUD 260,000, showcasing significant appreciation over time [5] Market Trends - As of March this year, the median house price in Collaroy Plateau has increased by 2.9% to AUD 2.8 million, reflecting a positive trend in the local real estate market [5] - The auctioneer noted that the final sale price exceeded expectations, indicating a robust demand for properties in this segment [3]