It’s not the first time builders have snapped up recently sold properties and paid more, according to Mr Macri, who said there was strong demand for duplexes as they are a more affordable option than free-standing houses.

“In this area, if you’re looking for a brand-new house, you’re looking to spend around the $3.5 million mark. That’s why [duplexes] continue to sell really well.

“There is a lot of land that has sold in the last 12 months [and] there will be a lot of duplexes in the marketplace. It’ll be really interesting.”

In NSW, semi-detached approvals, which includes duplexes, increased 41.1 per cent in the year to January 2022, according to ABS data.

Economist at the Housing Industry Association Angela Lillicrap said the property type was becoming more popular due to houses becoming less affordable.

“Everybody wants a detached house, but at some point they become unaffordable, so a semi-detached house, like a duplex, is the next option,” Ms Lillicrap said.

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“They are rising in popularity. When you have the choice between a house and unit, these are the nice missing middle, so they’re higher-density but with the space and benefit of more traditional detached housing.”

Cooley Auctions auctioneer Michael Garofolo said while this sale was a stand-out result, he had seen many builders willing to pay strong prices for shovel-ready homes.

“If you can give them a DA-approved home, that’s just gold. All that red tape and bureaucratic stuff is done,” Mr Garofolo said. “Builders don’t want to do that, they’re time poor, they just want to build and make a margin. Time is money.”

And for the vendor? Well, their property grew 23 per cent in price in just three months.

“Where are you going to get that unless you’re at a roulette table? I ain’t putting $3 million on black,” Mr Garofolo said.