The three-bedroom house at 11 Brocka Ave, Belmont, sold for $770,000.
An original Belmont clinker brick house being sold as part of a deceased estate has sparked a bidding battle that saw the price reach $100,000 above the reserve before it was snapped up.
The 586sq m property at 11 Brocka Ave sold for $770,000 at a weekend auction, after it had been listed with $600,000 to $660,000 price expectations.
The one-owner house is stacked with original features, such as retro tiling and lime green laminate in the kitchen, decorative wallpaper and cornices and a 1950s-style bathroom.
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Ray White Highton agent George Politis said the property had attracted buyers will to do the work required to bring the home up to date.
“It was pretty much unliveable – the house needed a lot of work,” he said.
“It actually had the water heater taken out of it because there was a leak somewhere and it was costing a fortune in water bills,” he said.
“A young first-home buyer couple purchased it. They’ve been looking at a few others and found this one was good value for the spot and they’re going to move in there and do a good renovation,” he said.
The retro kitchen features green laminate benches and splashback.
The original bathroom.
Mr Politis said it’s a great street in a pocket of Belmont where homes have sold for in excess of $1m.
“I think that’s the ideal. It was just a good location as well as three bedrooms with one bathroom and a bit of character behind it.”
The sale price nearly eclipsed the result nearby at 85 Mount Pleasant Rd, where better three-bedroom house on a larger 676sq m property sold for $775,000.
The brick veneer house opposite a local shopping strip attracted a small crowd and two bidders.
High ceilings, glass doors and picture windows provide plenty to work with in the lounge and dining room.
The three-bedroom house at 85 Mount Pleasant Rd, Belmont, sold for $775,000.
“The people who bought it were a couple from Melbourne,” Mr Politis said.
“They had missed out on four or five through their process. they’ve been looking for six months and they ended up being successful.”
The house offered an updated kitchen and bathroom and a landscaped backyard with a single garage.
While the properties drew out multiple bidders, Mr Politis said the pocket of Belmont attracting the most attention was a part of the suburb many buyers traditionally spurned.
“The interest rates coming down has helped for a lot of people. They’re used to the cost of living expenses are they are now and realise if we don’t buy now, what is going to happen.
“I think the market under $800,000 is the hottest I’ve seen.”
The house has an updated kitchen and bathroom.
High ceilings with decorative cornices and a wood heater feature in the lounge room.
Belmont’s $690,000 median house price has climbed 4.7 per cent in the past three months to recover ground lost over the previous 12 months, according to PropTrack data.
“The biggest pocket that we’re getting success out of is over at Bailey St and Autumn St,” Mr Politis said.
“I think the stigma of being in that catchment is not there any more. I think they say it’s still Belmont, let’s buy it.”
He said purchasers in that pocket included first-time buyers, renovators and investors.
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