This beach house is one of only seven properties with direct access to Clifton’s Third Beach.
Auctioneer Joff van Reenen of High Street Auctions says the house was bought by a local buyer at an online auction.
The beach house has a Jacuzzi and large reception area outside and is just steps from the beach.
Van Reenen says there is a correction in the property market all over the country due to the poor economy. He says the real estate market works in cycles and it takes sellers a while to adjust. He says there is another big gap between the prices that sellers want versus what buyers are willing to pay.