Another historic home at 344 Beach Road in Black Rock also went under the hammer for $4.6 million after five bidders competed.
Bidding on the five-bedroom home, which opened at $3.9 million, sent the price skyrocketing.
The home was put on the market for $4.4 million and sold under the hammer for $200,000 more.
Marshall White Port Phillip director and auctioneer Oliver Bruce said the stunning home had received a lot of attention from local families and one local family had won the keys.
Greville Pabst, the buyer’s agent present at the auction, said the home, reminiscent of Palm Springs, has a lot of history.
“Everyone passing through the property today has been impressed by the style and unique features of the house – there’s a blue bathroom that looks like it’s been ripped from a 1970s gangster film.
“This sale represents Melbourne’s two-speed market. Currently, rare, unique, and newly renovated or constructed homes are driving the market, which underpins the strength of results.
A four-bedroom Mount Waverley home at 27 Palm Beach Crescent that has been owned by the same family for more than 60 years has been sold at auction for $1.5 million after two bidders beat each other.
There were 75 bids exchanged between the two, both young families, interested in entering the Mount Waverly High School zone, said Eview Group director Nick Blow.
A four-bedroom home is listed on the market for $1.3 million, but bidding continues.
“The buyers will either rent it out first and move in after their kids are a little older or develop it before they move in, they haven’t decided yet,” Blow said.
Six bidders sold for $2,062,500 – $112,500 over reserve – for a large family home and five-bedroom 25 Parkside Boulevard in Listerfield South.
Ray White Oakley sales agent Nick Strilakos said the winning bidders, a couple with a large family, placed a final bid of $500 to win the keys.
Well-presented homes are also selling under the hammer and the market has improved over the past four weeks, Strolakos said.
“July was very difficult with the correction in the market, but August seems to bring some normality back, there is pep in the market,” he said.
But not all homes are easy to sell. An immaculate three-bedroom house at 32 Larch Street, Blackburn, attracted nearly 80 people but only two bidders put their hands up.
The home sold at the end of slow bidding for $1.29 million. The auction opened with 1.1 million bidders, but stalled as prospective buyers became hesitant.
After the bidding resumed, the bid went up to $1.22 million, before the house was called off the market, said Aaron MacDonald, agent and auctioneer of Ray White Forest Hill.
“The house was built by the owners in the 1960s, and they were hoping a young family would buy it and that’s what the buyer was,” McDonald said.
He said buyers were trying to take advantage of the cold market, seeking better prices than last year.
A two-bedroom house at 2/6 Melrose Street in North Melbourne sold for $1.158 million after a buyer’s negotiation.
Jellis Craig Fitzroy selling agent Johanna Doherty said only one bidder came forward to offer the property despite a number of people including neighbours.
The buyer, a woman looking for a city pad, made the highest bid of $1.115 million before negotiations began.
“The sellers were happy after the sale,” Doherty said.
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