Newtown cottage delights first-home buyers who hit the jackpot at auction

5 Bloomsbury St, Newtown, sold for $620,000.

A determined first-home buyer is tipped to get straight down to business renovating a two-bedroom Newtown cottage after breaking in to the market on Saturday.

The purchaser let out a delighted woo-hoo after securing the two-bedroom house at Saturday’s auction.

The single-fronted weatherboard house at 5 Bloomsbury St sold for $620,000 at the auction that attracted competition from five groups.

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Barry Plant, Highton agent Julia Warren said the local first-time buyer had been searching or more than a year before succeeding at Saturday’s auction.

Ms Warren said the buyers had been searching, and missing out, in Highton and Belmont, but succeeding in a little-known pocket of Newtown featuring a mix of houses, offices and warehouses.

Auctioneer Kieron Hunter calls bids at 5 Bloomsbury St, Newtown.

She said the buyers looked on as mum bid on their behalf.

Bloomsbury St runs south off West Fyans St in a mixed use zone designed to encourage the regeneration of the former industrial precinct.

“She was jumping with joy,” Ms Warren said.

“There is not many options down there but I think that pocket of Newtown still has a long way to go.

The underbidders in the foreground missed out a mother, right, bid for the eventual buyers.

“Down in Rutland St there is some really funky places, like a barber shop and I wouldn’t be surprised that become a little hub with cafes and restaurants.

“It’s pretty funky down there, I like it.”

“It’s a different spot but you’re going to pay more for a different street just 100m up the road, so it was a bit of no-brainer.”

Ms Warren said a renovation completed by the neighbours also helped the campaign.

5 Bloomsbury St, Newtown, sold for $620,000.

“It was so nice through the campaign to use that as a reference because some people can struggle to visualise. Both ones on either side were in much better condition externally but the same house.

“She’s an interior designer so she’s all over it – she’s probably doing to jump into a reno straight away. They always come up so nice.”

Bidding for the house opened at $510,000.

Auctioneer Kieron Hunter confirmed the property was on the market as the price passed $590,000.

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