COMPETITIVE bidding between buyers hoping to secure a home with a resort-style pool in Whitebridge led to a surprise result at auction on the weekend.
The fully renovated four-bedroom, two-bathroom home on 910 square metres at 149 Burwood Road in Whitebridge was listed with a guide of $1.4 million with Presence Real Estate's Katie Kepner.
The sought-after home drew six registered parties - including one on the phone from London - who opened with a bid of $1.3 million.
Four groups were active in the bidding which quickly climbed to $1.45 million after a string of bids in increments of $50,000 before it fell to increments of $20,000 and $10,000.
The property went on to sell for $1.64 million to an out-of-area buyer who plans to move to the area in the next 12 months.
Ms Kepner said the result surpassed expectations.
"It was interesting because the feedback wasn't at that level and even the person who bought it was not expecting to bid that that level but when it came down to it, they really wanted this home," Ms Kepner said.
"The person who opened the bidding had only made two bids up until the last bid and ended up buying it, so of the 21 bids they only placed three bids."
A five-bedroom, two bathroom home on 1012 square metres at 20 Edward Street in Charlestown was a drawcard for buyers in the market for a large family home.
The auction attracted 12 registered bidders including couples, families and multi-generational families.
The auction started at $1.33 million with competitive bidding from three of the 12 registered parties, according to Spillane Property selling agent Patrick Skinner.
"The bidding started very strong and it went up in $20,000 increments with 10 bids in total," Mr Skinner said.
"We had a guide of $1.25 million to $1.35 million but we adjusted it to $1.3 million to $1.4 million and it sold for $1.5 million so the owners were very happy."
By comparison, a five-bedroom home on a 1,012 square metre block on the street sold for under $900,000 last year.
"There was a house at 12 Edward Street that was also five bedroom and on a 1000 square metre block that sold in April 2022 for $880,000, so this was a cracking result," he said.
Renovators flocked to the auction of Ray White Newcastle selling agent Brett Bailey's listing of a three-bedroom home in original condition at 51 Everton Street in Hamilton.
It drew six registrations and two active bidders who started with an opening bid of $1.35 million.
The 576 square metre property sold for $1.38 million to a couple who plan to renovate the home which was configured as two flats.
"It was structurally sound but needed a complete renovation and extension," Mr Bailey said.
"The bulk of people interested were younger couples looking to move into the area and renovate.
"We also had a couple of people who wanted to renovate it and sell it, so no one was looking at knocking it down which was good because it was too lovely a home to do that."
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