A FAMILY from Woodstock on Melbourne’s northern fringe has edged out five owner-occupiers for the keys to a Carrum beachside holiday home.
Keen competition for 2/678 Nepean Highway, a rare beachside listing in the bayside suburb, drove it $73,000 above the vendor’s $1.25 million reserve.
The buyers were looking for a holiday house while the other five bidders were owner-occupiers from Carrum, Aspendale and Beaumaris, Buxton Chelsea auctioneer Shane O’Sughrue said.
Related: Apartments with rooftop tennis court listed
Grand beauty set to smash Sandringham record
The property is a stone’s throw to the water.
The home will be renovated as a holiday weekender.
There was a lot of interest as there were few listings in that beachside pocket, Mr O’Sughrue said.
The October 19 auction, with Mr O’Sughrue wearing a pink jacket in support of the National Breast Cancer Foundation, started with a low $800,000 bid which was followed by a vendor bid of $1.1 million.
The auction was competitive with close to 40 bids before the house sold for $1.323 million.
The property had a price guide of $1.1-$1.2 million and last changed hands for $215,000 in 1987.
Auctioneer Shane O’Sughrue donned a pink jacket in support of a breast cancer charity.
Auctioneer Shane O’Sughrue with the happy vendors.
“The buyers will renovate the property and turn it into a holiday home,” Mr O’Sughrue said.
The house on 499sq m is just steps to the water on a corner block.
The double-storey home is a family entertainer with spacious open-plan living, ample windows and a large viewing balcony.
An easy walk leads to the cafes, wine bars and village shops.
In April, a nearby six-bedroom property at 702B Nepean Highway fetched $2.3 million and two more homes along the stretch in Carrum have also sold for more than $2 million each.
The record sale price for the highway in Carrum is held by No. 708, which changed hands for $3.7 million last year, sales records show.
Carrum is a tightly held suburb with just 57 house sales in the 12 months to July, CoreLogic data shows.
It had a median house price of $816,000 after a 48.6 per cent rise over a three-year period.