Cottage sale attracts bidders
A good sized crowd turned out for the auction of this beautiful home. Check out excerpts from Domain’s live auction coverage.

Every time Jo Buckle and her husband walked past the bluestone Fitzroy house, around the corner from where they lived for the past 17 years, they said it would their ideal home if it came on the market.

On Saturday, they realised their dream when they trumped five hopeful buyers and paid $3.53 million — $930,000 over reserve — for the keys to 300 Gore Street.

The 10-bedroom property on about 720 square metres was a registered rooming house and had once also been home to a coastal sea captain between 1865 and 1874, according to the listing.

A 10-room rooming house at 300 Gore Street, Fitzroy, sold for $3.53 million at auction. Photo: Peter Markovic Real Estate

The buyers, who plan to turn the property into a home, said they would live in it with their friends.

“We hadn’t been planning to move, we had no intentions of selling our current house and buying a new one, but we just knew that if we didn’t buy it now, it wasn’t going to come up for sale again,” Ms Buckle said.

“So we just went all out and bought it. It’s very rare to find such a big block in Fitzroy, and especially all on one level, so it’s somewhere … future-proofed for retirement.”

The buyer of the rooming house plans to turn it into a home. Photo: Peter Markovic Real Estate

The conversion of the property means yet another rooming house will soon leave the market.

Despite good rent return, Peter Markovic Real Estate’s Paul Markovic there was more demand for the property as a house than it being renting it out room by room.

Mr Markovic said there was strong demand for property in Fitzroy and its lifestyle was drawing more buyers from Boroondara and Stonnington council areas.

The Fitzroy house is on about 720 square metres of land. Photo: Peter Markovic Real Estate

Renovated period homes in blue-chip postcodes also soared above expectations on Saturday.

Two would-be buyers fought for a double-fronted Victorian at 21 Lambeth Avenue in Armadale, which sold for $3.25 million under the hammer.

A man, bidding on behalf of a young professional, beat a downsizer after forking out $350,000 more than what the vendor was willing to accept.

A young professional bought 21 Lambeth Avenue, Armadale, for $3.25 million. Photo: Jellis Craig

Jellis Craig auctioneer Andrew McCann said a shortage of quality properties continued to drive prices.

In Hawthorn East, a two-bedroom house on about 828 square metres at 10 Neave Street sold for $3.35 million — $500,000 over reserve.

Listing agent Steve Burke, of Hocking Stuart Glen Iris, said there were three bidders and the result translated to just over $4000 per square metre for land only.

Two bidders competed for the renovated Armadale property. Photo: Jellis Craig

And on the bayside, a four-bedroom-plus-study house at 45 Victoria Street in Sandringham soared $680,000 over reserve.

Hocking Stuart Sandringham director Jenny Dwyer said the opening bid was $3.8 million, and four bidders pushed the price to a sale of $4.68 million.Read more :