Bids crack ton as house hits Heights
A RENOVATED house in Manifold Heights has sold for more than $100,000 over reserve amid a 109-bid auction.
Two bidders contested the three-bedroom house on a 873sq m Minerva Rd block in an affair that lasted 25 minutes on Saturday and had Buxton auctioneer Tom Butters calling for a lozenge as his voice started to crack.
The property sold under the hammer for $903,000.
Bidding opened at $750,000 but both bidders soon dropped to $1000 increments, taking the price from $790,000 until it sold. The reserve was $800,000.
It is another stand-out price for the street, which borders Manifold Heights and Herne Hill, bettered only by the neighbouring property — an extended and renovated California bungalow, which sold for $1.6 million ($450,000 above the reserve price) last November.
The biggest sale on the Herne Hill side of the street was $661,000 for a threebedroom house in October.
The buyers intend to relocate from their home around the corner.
“We only live about seven houses away, but this is much bigger,” buyer Belinda Aylmer said.
“It’s the block size and rear lane access . . . and my daughter lives just around the corner as well, so it’s good for the grandchildren.”
Mr Butters said the result was unexpected but proved what could happen when two buyers wanted a property.
“We mainly had tradies looking at it for the rear-lane access and putting up a shed in the backyard,” he said.
The brick veneer house was renovated with a stylish interior featuring an open-plan kitchen, dining and living area and walk-in wardrobe and ensuite to the main bedroom.
Mr Butters said the neighbourhood was becoming popular, with schools, including Clonard College and Holy Spirit, Manifold Heights and Herne Hill primary schools, and a shopping strip nearby.
Manifold Heights house prices have risen 44 per cent in three years to $685,000, while in Herne Hill, the median price has jumped more than 50 per cent to $539,500.
Mr Butters said Herne Hill especially was benefiting from gentrification.
“Traditionally it was the workers area for the cement works,” he said.
“That’s shut. Now people say you can buy for $550,000 to $600,000 and you’re on the cusp of everything. They’re saying we can afford it.”