The modest three-bedroom weatherboard on a 747sq m block at 67 Dickson St was snapped up by an investor at the weekend for $1.02 million.
The property is the eighth to sell for more than $1 million in Sunshine this year. A building, used as a bank, at 242 Hampshire Rd, smashed the suburb record when it sold for $3.56 million in November.
CoreLogic records show the vendors of the Dickson St property bought the house in 1986, more than 30 years ago, for $68,000.
The median house price in Sunshine has soared 55 per cent in the past three years to $776,500 — including a 3.5 per cent boost in the year to September.
Douglas Kay Real Estate’s Anthony Caccamo said the December 8 auction attracted 25 groups, including two bidders.
“It was a quick auction with a standout result for owners,” he said.
The buyer planned to land bank the property for the long term and might improve the house, which was previously rented, Mr Caccamo said.
The property had a $970,000-$1.06 million price guide.
“The sale speaks volumes for the location,” he said.
“It is a shining light in the inner-west region and central Sunshine.”
The property is in a coveted growth pocket within 10km of Melbourne’s CBD, a short walk from the station, and close to schools, parks and shops.
The buyer was attracted to the property’s size, location and capital growth potential.
SUBURB PROFILE: SUNSHINE