There were three buyers who registered to bid on the home,including local downsizers,but it passed in at $3.29 million before eventually selling.
“It’s a very,very special home,” the agent said. “People who weren’t actually considering buying in the inner west,were actually considering this house.”
The four-bedroom house had a quoted price range of $2.4 million to $2.5 million,and passed in at $2.6 million.
The vendors of 4 Elledale Street were “extremely surprised” by the sale price,listing agent Helen Yan said. It was one of 1516 auctions on Saturday.
The new owners could create a contemporary home that retains the history of stables that have been on the site for 100 years.
Six families competed for the mid-century four-bedroom house on a large block,in a marathon auction lasting 45 minutes.
Six parties competed for the keys to the six-bedroom home with a swimming pool,attracted by the lack of a heritage overlay and wide frontage.
Hot competition pushed the sale price more than half a million dollars above the reserve at auction as four families competed for the home.
After beating two other young couples,the winners of a competitive auction will live in the two-bedroom townhouse,while their parents live nearby.
Buyers fought hard to secure family homes in sought-after suburbs at the weekend,as Melbourne’s first auction weekend for the year began with high volumes.
Home buyers are finding better bang for their buck by looking to popular towns within commuting distance of the capital.