Would you be willing to pay $200,000 above reserve at auction to secure a house you planned to bulldoze?
One savvy buyer bidding on a Felixstow house was – as were several other hopeful househunters.
The three-bedroom residence on a 832sqm corner block at 44 Hilltop Ave fetched $940,000 under the hammer – well beyond its $740,000 reserve price.
Ray White Norwood agent Trent Dudley, who sold the property with Stefan Siciliano, said the buyer was an investor who had big plans for the site.
“He’s going to develop the site, but more than likely he’ll rent it out for a little bit first,” Mr Dudley said.
“It was a very, very amazing result.
“We ended up having 30 registered bidders … and we had easily over 100 people there (on auction day).”
The dated home, complete with retro shag pile carpet in pristine condition and an assortment of patterned wallpapers, had been owned by one family for 44 years prior to its recent sale.
Mr Dudley said it attracted a lot of attention throughout its three-week campaign, mostly from investors and developers with a few prospective buyers keen to renovate.
“I think it was mainly the block people wanted as most people were looking at it (to build) two decent sized properties,” he said.
He said the northeastern suburb was also a big drawcard for many househunters.
Latest realestate.com.au data in the year to the end of April shows Felixstow’s median house price was $630,500, which had climbed 5.3 per cent in the past 12 months, while its median asking rent was $460.
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