Buyers have forked out more than $12 million to snap up the final pieces of residential land in McCauley's Beach Estate, Thirroul.
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The Stockland-owned subdivision's final 17 lots went to auction at Anita's Theatre on Monday night, with more than 500 people attending to watch the spirited bidding.
Sales agent Daniel Field, of Ray White Thirroul, said the auction was one of the biggest he had seen in his real estate career.
All 17 lots sold under the hammer, with the night's total reaching a breathtaking $12,666,500.
Final prices ranged from $643,000 to $961,000 for the near-level lots, which range in size from 372 to 780 square metres.
All have views of the escarpment, some have ocean views, and 16 of the home sites are beside Thomas Gibson Park.
Mr Field said the atmosphere in the theatre was electric, with more than 100 registered bidders on the night.
There were a total of 534 bids made - a healthy average of 31 per lot.
Despite the astounding result, Mr Field said the beachside subdivision's popularity hadn't been surprising.
"This estate is always going to be popular because of it's superior location," he said.
"Into the future, I've no doubt people will buy and sell within the estate, whether they are upgrading from a smaller place or to a better position, I can see people becoming real fans of that spot, I can't see any downsides to it."
The area was popular with families, which Mr Field said would only add to the estate's friendly vibe.
"It's only going to help to improve Thirroul, not that it needed improving," he said.