8 Foster Ave, St Kilda sold under the hammer for more than $2 million on Saturday.
A ST KILDA house in a “hidden” location was snapped up at auction yesterday when multiple parties had their hands in the air for it.
A crowd of more than 50 people found its way to the quiet cul-de-sac to see three bidders compete for three-bedroom house at 8 Foster Ave, pushing the sale price beyond $2 million.
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An expansive treetop terrace is a highlight of the property.
As the auction kicked off, Wilson Agents auctioneer Jesse Raeburn informed the crowd the vendor had decided to throw in the blue lounge suite in the property’s four-car garage.
It took a vendor bid of $1.9 million to start proceedings, but a live bid of $1.91 million soon followed.
A second bidder joined and the two parties went head-to-head in mostly $5000-$15,000 increments, before a third bidder spurred competition further.
The home was called on the market at $2.035 million.
Three bidders vied for the home.
As bidding reached $2.047 million, one party made a last ditch bid of $2.055 million, but another immediately countered and won the keys for $2.057 million.
Wilson Agents St Kilda agent Grace Le-francke said Foster Ave, set back from Barkly St, was a quiet St Kilda spot “people aren’t really aware of.”
“It’s a great little tucked away, hidden pocket,” she said.
The three-bedroom house features a terrace with treetop views, a private courtyard, living and dining zones on each level, and a sleek kitchen with Ilve appliances.
Ms Le-francke said the buyers, a local family, would move there from a townhouse in the suburb.
Families’ need for space meant properties like Foster Ave were still performing well in the current market, she added.
A fireside lounge area with sloped ceiling is also a feature.
“For good homes that are well located there is always going to be demand, because families need places to live,” she said.
Ms Le-francke said St Kilda was undergoing a transformation with projects like The Block’s overhaul of the Gatwick Hotel was seeing it attract a wider range of buyers.
“It’s fantastic; it’s very exciting. And we do see it introducing a new demographic of people to the area and a change in energy,” she said.
She urged buyers to take advantage of current market conditions.
“People will look back on 2018 as a great year to buy and those who did will have bought some great property,” Ms Le-francke said.