A much-loved four-bedroom home in Nunawading was auctioned over the weekend for the first time in 61 years.
The 32 McCulloch Street pad has been with the same owners since it was built in 1961, raising their four children at home.
Despite the couple’s death since then, the four siblings sold the property under the hammer last Saturday for $1.355 million – realizing a whopping $75,000 premium.
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The bidding process began with a seller’s bid of $1.15 million, before two bidders headed out for the keys.
The third bidder jumped after it was put on the market at $1.28 million. A young family looking to scale up the final show made $1.355 million.
Belinda McDermid, an agent for Barry Plant in Blackburn, said the siblings loved growing up in the house, which was renovated in 1975 by the same engineer who was involved in construction.
“The open extension was way ahead of its time and mid-century style was attracting a lot of buyers,” McDermid said.
“It was an emotional day (for the sellers).”
The sale comes as PropTrack posted an initial clearance rate of 55.8 percent from 505 hits reported last week.
Another 673 auctions are expected this week.
In Brighton, a charming four-bedroom home under the hammer sold for $3.46 million after two bidders competed for the keys.
Devlin Private Sales and Projects agent Trudy Beggin, a Brighton agent, said a third bidder was present, but the auction was “too fast” for them to bid.
Open real auction worth 3 million dollars auction 9 Carpenter Streetbefore the 470-square-meter property was called on the market for $3.24 million.
A local couple looking to slim down has made the winning bid of $3.46 million.
“These days, we find that the first-class renovated homes are still doing well,” Begin said.
“The refurbishment and bringing it to this standard would likely cost about $1 million to $1.5 million… Renovation costs, materials and labor have gone up a lot.”
A three-bedroom home in Kew also scored the highest this past weekend, selling for $2.825 million at auction on Saturday.
Petria Thomas, an agent for Nelson Alexander Keough, said five bidders attended the competitive auction. 15 Holroyd Streetwhich was recalled on the market for about 2.6 million dollars.
In Doncaster East, a spacious six-bedroom home in 17 Highfield Road It jumped $50,000 over its reserve of $1.51 million, and it sold for $1.56 million.
Six of the bidders threw their hats into the ring, which Eli Gong, director of McGrath Box Hill, said mostly included family homebuyers.
A family living in Blackburn North submitted the winning bid, who plan to keep the two properties and rent one.