A 1950s-era home with retro kitchen and original fittings throughout has attracted such interest its auction was bought forward.
And when it went under the hammer it sold for $801,000 at auction.
The property at Charlestown went to auction on Sunday, with three registered buyers engaging in spirited bidding to purchase the home which had been held by the same family since it was built in 1952.
We spoke with selling agent Sam Taylor from TaylorHedley Property about the auction and the result.
The property: An original 1950s three-bedroom, one-bathroom home on an 841 square metre block.
The result: It sold under the hammer for $801,000.
How many registered bidders? We had three registered bidders at the auction. We actually brought the auction forward on this one by a week given the level of campaign and the interest we had in it. We had 48 inquiries on this property and it was a short campaign - it hit the market on December 23 but we didn't have the first inspection until January 7. Overall, we had 29 inspections.
Where were the buyers from? All of the buyers were local young families. We are still getting out-of-area buyers but I think it depends on the price point. What was really sweet was the buyers invited the vendor back to have a look at the home when they finish renovating it so they can have a look.
How did the auction unfold? The bidding started at $700,000. It was competitive, with all three buyers actively bidding on the property. The bidding started in $15,000 increments and by the end, it was going up in $1,000 increments.
What made this property special? People were quite taken by the fact that it was built in the 1950s but still in such good order. It was a really interesting property because it's on an 841 square metre block but it was built in 1952 by the vendor's father, so it has remained in the one family and has never been sold before. It was the first time available for sale since 1952 and it was all original, but it was the best example of a home built in the 50s. It was like stepping back in time. I have had people who are renovating 50s and 60s homes reach out wanting to buy the kitchen and other bits and pieces. One of the best things about this house is that it had such a versatile floorplan that it would be an easy renovation or extension. It was a great blank canvas and you're working with a building that is very solid. One of the other special things about this property was the vendor's father had kept a book that listed every piece of inventory that went into the home, and the plans, so there is a book that lists how many nails went into it, how many screws and what the timbers were used.
Was the result a surprise? No, we were happy with the result. There are older homes in the area that have sold for a lot less that weren't this tidy, but then you hit a different market once you get closer to that $900,000 mark where people are buying three-bedroom homes that are fully renovated. It fits in that gap and it was definitely the best in its class in terms of its age. We had people looking at it for all different reasons and the people that ended up bidding on it were all owner-occupiers that wanted to live in it and renovate it.
