NEIGHBOURS breathed a sigh of relief after a young couple put their hand up to save a rundown house near Belmont High School from the wrecker’s ball.
Hayeswinckle, Newtown agent Stephen Thomas said the local pair paid $416,000 for 9 Rotherham St, Belmont after auction on Saturday.
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The three-bedroom weatherboard house on 637sq m of land is ripe for renovation or a knock down and rebuild.
Mr Thomas said the buyers looked past its tired appearance to see something worth saving.
“It is their forever house,” he said.
“He is a young builder and it seemed as if they were going to move in and get stuck straight into it.
“The neighbours were happy.”
The buyers were the only bidder at Saturday’s auction and negotiated the sale within the $400,000 to $440,000 price range.
“It was in the family for 60-plus years so it was time for that last piece,” Mr Thomas said.
The house has a loungeroom, a separate kitchen/dining room and a bathroom that’s seen better days.
It’s directly opposite Belmont High School with easy access to both the High St and Highton Village shops.
CoreLogic data show the median house price in Belmont rose 10.5 per cent to $530,500 in the past 12 months.