Gerroa property prices have again exceeded expectations, with a steep 450sqm vacant block on Stafford Street selling for $1.82 million on Saturday.

“We had over 600 enquiries during the three week campaign and 33 registered bidders at the auction,” says First National Coast & Country agent, Ryan Stalgis.

“It is quite a small and challenging block, with very limited space to build on, but the views are sensational.”

The strong demand ensured the sale price was well above the reserve of $1 million.

The block, adjacent to the local shop, was recently subdivided from a large block in Burke Parade.

Three years ago, Mr Stalgis sold a similar vacant block next door to this one for $630,000. Its almost completed build showed potential buyers what was possible on the site.