A chic, three-bedroom pad in Port Melbourne soared $190,000 above asking price in a fierce auction on Saturday.
A vendor bid of $1.55m kicked off the proceedings for 39 Albert St, which had an asking price of $1.55m-$1.65m.
Two parties battled for the keys, pushing the price above the top end of the price range, before a single mum with a daughter placed a $1.74m bid.
After negotiating with his vendors, Marshall White Port Phillip director and auctioneer Justin Holod announced: “we’re on the market, we’re selling,” according to WGP property advisory group chairman Greville Pabst, who attended the auction.
The home sold soon after at that price in front of a crowd of about 30 people, Mr Pabst said.
“The young daughter jumped up on the mum when she placed the bid, it was very sweet,” Mr Pabst said.
The buyers advocate, who is also known for his appearances on The Block, said the home was popular due to being detached on both sides.
“(That) is rare in the Port Melbourne area,” Mr Pabst said.
The vendors, who the Herald Sun understands are a local family with two children, bought the stylish pad in 2011 for $977,500, according to CoreLogic.
They have now outgrown the house and are upsizing.
“Even though the house was bought by owner-occupiers and will make for a great family home, it has a good capital growth profile,” Mr Pabst added.
Meanwhile in Dingley Village, a pair of strong sales were recorded despite both properties passing it at auction.
A four-bedroom house at 4 Village Drive sold for $1.005m in negotiations which took place after its auction on Saturday
A couple looking for their first home, who are currently renting out of the area, won the keys to the residence
It last sold in 2008 for $440,000, CoreLogic records show.
“She loved (the home),” Barry Plant Dingley Village branch manager Dora Kambouris said.
“It’s been very well looked after.”
The vendor is moving to a retirement village.
Ms Kambouris also had the listing for a nearby five-bedroom pad at 1 Greenview Close, which sold shortly after its auction for $1.145m.
The home had been in the same family decades, with CoreLogic records showing it last sold in 1986 for only $157,000.
“Two generations have lived (there) and it’s had a lot of love,” Ms Kambouris said.
“It was emotional for everybody.”
A local family with three young boys purchased the home, who were looking to upsize.
Realestate.com.au recorded a preliminary clearance rate of 76 per cent from 714 results last week.
A further 433 auctions are scheduled across the state this week.
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The post Port Melbourne ‘beauty’ sells $190k above asking price in fierce auction appeared first on realestate.com.au.