No. 72 Tambourine Bay Rd, Riverview, sold for $2.103 million.

The rain last Saturday did little to dampen the mood of the competitive buyers, with the sale price of 72 Tambourine Bay Rd crushing the reserve by $253,000.

Bidding opened at $1.7 million, as the two buyers dominated the auction with bids of $10,000 and $7000.

Selling agent Tim Holgate, of Holgate First National, who sold the home with Ali Pericak, said none of the other five registered bidders managed to get a bid in.

“It just went crazy; they were adamant to get the place,” he said.

The winning bidders were a family from the countryside, who wanted to enter the north shore market, and were seeking a holiday home in the city. They plan to knock down the house and build their dream home.

Mr Holgate brought 117 groups through for inspection and issued 27 contracts. He said buyers who were being outbid in the eastern suburbs market were coming to the local area.

“This means our typical buyers for this area are moving out further west or towards Frenchs Forest way.”

“Prices are going up, up and up.”

Originally published as Riverview house reserve beaten by $253,000