This Preston home sold $60k above price guide as buyers chased space and charm.
A young Brunswick couple has snapped up a charming Preston home for $1.16m at an auction that saw bidding rocket well past expectations.
The three-bedroom house at 38 Spring St had a price guide of $1m-$1.1m, but competitive interest on the day pushed the final sale $60,000 above the top of the quoted range.
Ray White Preston director Ian Dempsey said the buyers, a professional couple with no kids, had been drawn to the home’s natural light, character detail and location near Preston Market, Bell Station and Preston High School.
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“They’re from Brunswick — so still inner north — but they were excited to step into something with long-term potential,” Mr Dempsey said.
While the property’s period charm played a big role in the result, Mr Dempsey said the couple were also looking for flexibility — and the bonus of a detached backyard studio sealed the deal.
“They’re going to fix it up slowly, but it’s liveable from day one,” he said.
A private backyard studio adds work-from-home flexibility to this character-rich Preston property.
Sunlight floods the open-plan living and dining space at 38 Spring Street, Preston.
“A few cosmetic updates over time, but the bones are all there.”
The classic weatherboard home features timber trims, an open fireplace, and a sunny rear sunroom that spills out to a paved courtyard framed by leafy hedges and a pergola.
A modernised kitchen with checkerboard tiling overlooks the back yard, while a detached home office adds value in today’s work-from-home era.
Three spacious bedrooms offered buyers comfort and potential in one of Preston’s best pockets.
Competitive bidding saw the Preston home smash reserve as a Brunswick couple claimed victory.
Mr Dempsey said the auction result reflected a shift in buyer behaviour, with many young couples upsizing out of apartments in Fitzroy and Carlton and hunting value in Preston and Reservoir.
“We’re definitely seeing more buyers coming out this way,” he said.
“Preston still has that Thornbury-Northcote vibe, but the price point is more accessible — that’s what’s really driving demand.”
The updated kitchen connects to a sunroom and flows to a lush courtyard.
The Ray White Preston director said the sale came amid a busy weekend for the agency, with several auctions drawing strong crowds and strong bidding — even as the federal election looms and talk of another interest rate cut bubbles in the background.
“Buyers aren’t holding back — if anything, they’re trying to get in before any more price movement,” Mr Dempsey said.
“There’s a real window of opportunity right now, and sellers in this pocket are in a good position.”
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